Are you interested in the pictures, and names of migo, branch, lcredit, and okash list of loan defaulters in Nigeria online?
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Loan Defaulters in Nigeria
To default on a loan in Nigeria means repayment isn’t made for a certain period.
When a loan defaults, it is sent to a debt collection agency whose job is to contact the borrower and receive the unpaid funds.
The consequences of defaulting on a loan of any type in Nigeria are severe and should be avoided at all costs.
If you miss a loan repayment, the best thing to do is to contact the company or app that manages your loan.
Often, loan apps and companies will work with debtors to create a payment plan that works for both parties.
Otherwise, allowing a loan to default in Nigeria can, in the worst cases, lead to jail term, court charges, and seizure of assets.
If the loan you borrowed online is not paid in time in Nigeria, you may get your name, BVN, photo, profile, phone number published to the national newspapers, and shared to your contact to shame and blackmail you to make repayment.
This is after you have been warned and requested to repay your loan.
Note that loan apps in Nigeria cannot block your BVN if you cannot repay your loan.
However, they can publish your BVN and your other details to the public and to your contact, which they have downloaded on their database and declare that you pay back your outstanding loan.
List of Loan Defaulters in Nigeria 2024
These are the 17 loan defaulters in Nigeria online:
- Capital Oil and Gas Industries Limited
- NICON Investments Limited
- Wale Babalakin
- Josepdam and Sons
- Tinapa Business Resort
- Savings in the Home Trust
- Geometric Power Limited
- Roygate Properties Limited
- Shell Development Petroleum Company
- Platinum Capital
- Flotsome Investment Limited
- Lonestar Drilling
- Petrologistics Limited
- Lorna Global Resources
- Hosanna Properties Limited
- Afrijet Airlines Limited
- Petroleum Brokers Limited
Presently, most loan apps in Nigeria have been accused of cruelty in how they treat customers who default in payment, going about calling various people in the defaulter’s phone contact and also going as far as using the defaulter’s picture to post obituaries online or a label of being a wanted criminal.
The government and other regulatory bodies have been called on to put a stop to the harassment.
The main reason customers of these loan apps have to go through such horror is because they defaulted on payment.
So long as you desire to take a loan from these apps, you must never default on payment.
Before taking a loan, structure how you intend to pay back and where the funding will come from.
This has to be critically considered otherwise the ugly will come visiting.
If you know you cannot meet up with payment, refrain from taking the loan, no matter the temptation.
If you desire not to experience such a traumatic disaster, the job is simple and left in your hands.
8 Mistakes to Avoid When Taking Out a Personal Loan in Nigeria
One thing that can truly hurt your chances of getting a loan is making avoidable mistakes while trying to apply for the loan.
- Entering a wrong BVN into a registration form while trying to apply for a loan is a huge red flag and you are likely to get denied if you ever make this mistake.
- While completing your profile for a loan application, ensure that the card you intend to add has been profiled for online transactions.
- For online transactions tied to applying for a loan and getting your bank account credited, it’s important to have some money in the account just to verify that the account can be used.
- Loan repayments happen monthly. If your monthly repayment breakdown does not cover the entire loan, you’re simply setting yourself up for a rejection of your loan application.
- Believing you can repay your loan with your salary.
- Not completing your registration or loan application.
- Assuming lenders offer the same interest rates.
- Ignoring terms and conditions.
Because defaulting on a loan can have long-term ramifications, it’s best to do whatever you can to avoid it.
So, if you’re worried about missing an upcoming payment, talk with your lender to come up with a changed payment plan.
Now that you know the mistakes to avoid when applying for a loan in Nigeria, you are in a better place to make more informed decisions.
The goal here is to take you several steps closer to attaining financial well-being.
To begin your loan application process, click HERE.