How I broke free from the claws 35 loan apps

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Stay away from loan apps at all costs. They will make you go bankrupt as they have nothing to offer you. Borrowing is spending tomorrow's money today

My name is Taiwo (Full name withheld), and I would like to share my testimony of how I broke free from the claws of loan sharks. It all started in the year 2020 when I began borrowing from online loan sharks, hoping that they would provide help in times of need. Little did I know that I had set myself up for bankruptcy.

Initially, I thought they were helping me, so I was borrowing from safe loan apps like Branch and Carbon, and two others, primarily for my business. I believed they were helping me scale up, but I did not know that I was giving them all of my profits at the end of each month. With a 30% monthly interest rate, I had become reliant on them to sustain my business, which I eventually did until late June 2021. I did not realize that my business was not prospering because all of my profits went to the loan sharks.

The Beginning of Bankruptcy

In early 2022, I needed to scale up my poultry business and maximize profit, so I opted for another loan. This time, I did not use loan apps, but instead borrowed from friends and family, promising them a return on investment. After investing ₦500,000, my laying poultry was attacked by a disease that affected egg production, reducing it from 75% to about 30%. This was the beginning of my problems.

With a 30% daily egg production rate that lasted for about two months, I could barely feed my birds, and I had loan apps to pay back. Although some of my friends understood my situation, I was in a dilemma about paying back the loan apps.

The Trouble Begins

I started receiving threatening messages from loan apps such as Palm Credit, Lcredit, and Xcash, which put me in fear. They threatened to publish my name to all of my contacts, labeling me as a fraudster. I began to imagine how my contacts would feel about me, my reputation, dignity, and the love that we shared. However, I did not realize that more than 95% of my contacts did not even care about me.

As a result, I borrowed from other loan apps to pay back the bullying loan apps, hoping to get the money I needed. I did not know that I had made the biggest mistake of my life, and the amount I needed to pay back would be doubled. I had to borrow from two loan apps to pay one, and sometimes I had to borrow from three loan apps to pay one.

Within six months, I was owing about 35 loan apps, and I could no longer sleep. Every day, I received calls, threatening messages, cyberbullying, and WhatsApp calls. The only option was to start selling my birds to raise some money. I sold about half of my laying birds, but it only solved less than 20% of the problem.

By April 2022, I was completely bankrupt, with no money for anything. In fact, some of my friends distanced themselves from me because I always called them for money. At that time, I owed about ₦2 million to loan apps. I could not feed my family, and paying my children's school fees was terrible. My immediate family always asked me what was wrong with me, but I could not open up because of the fear of unknown loan apps.

The Blackmail

By May 2022, some of the loan apps began sending messages to my contacts because I could not pay. Eventually, almost all of my contacts got to know about the situation. I almost fainted, and my blood pressure began to rise, and I could not eat. Thanks to my friend (a brother from another mother)

My Deliverance

As instructed by the articles I read online, I blocked all their numbers and installed the Truecaller app to identify who is calling, and then blocked them if they were not genuine. I stopped replying to their WhatsApp messages, and even if I wanted to reply, I would threaten them back. Though it wasn't easy, after one month I was able to fight back.

Every time they sent threatening messages to me, I would beg them to send messages to my contacts instead, hence no more payments. After all, the damage had been done, so why would I be afraid again?

I even deleted some of my contacts who were saying rubbish like "pay them back their money" because they did not know what I went through at the hands of loan sharks. Day in and day out, the threatening messages started reducing, from one threat message per day to once every three days.

And one year later, I am free from their threats and I did not pay them back except for registered loan companies which they reported me to the appropriate authorities for. I promised to pay back when it is convenient.

As for those loan sharks, till today (1+ year) they already have their money when they defame my character.

Word of advice:

Stay away from loan apps at all costs. They will make you go bankrupt as they have nothing to offer you.
If you must borrow, don't borrow more than you can handle, and only borrow from reputable loan apps. You did not die before loan apps, so train yourself to stop borrowing.
Pay back at your convenience if you have borrowed from loan sharks. Don't rush, the only weapon they have is cyberbullying. They can't do anything for you, and the government is searching for them to arrest them.
95% of your contacts cannot help you, so don't worry about them. Besides, people are already aware of their atrocity.
Never pay back if they defame you. And if you must payback, only pay what they borrowed you, maybe with some interest. Pay back when it is convenient, even if it's after two years.
Block their phone calls and WhatsApp messages to gain your sanity. They can't do anything.
98% of them are not licensed, so they can't do anything.
Don't give them access to your contacts, lest they scrape your contact, which is their main weapon.
If possible, stay away from borrowing. Borrowing is spending tomorrow's money today, which can eventually make tomorrow difficult.
Never borrow to eat.

Loansharkreview

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Comments (21

How-I-broke-free-from-the-claws-35-loan-apps
Thank you so much for this intel
- 2/26/2023
How-I-broke-free-from-the-claws-35-loan-apps
Thank so much for this
- 2/26/2023
How-I-broke-free-from-the-claws-35-loan-apps
This is wonderful God will help us in this country
- 2/26/2023
Wow Thank you so much
- 2/27/2023
Thanks for the advice, sold my 12kg cylinder, water dispenser and washing machine and working tools just to pay off loan sharks. Now I'm about to sale my Honda EOD.
- 9/13/2023
Hummm it really help me thanks for this write up
- 4/26/2024
God bless you for this...... it's really helpful.
- 5/2/2024
God bless you it's was really helpful
- 5/10/2024
Thanks for this enlightenment!!! Very useful Bro.
- 5/21/2024
This testimony is just what I'm going through currently I borrowed for other loan apps to pay another I'm deeply indeptded now there are sending threats and all that I can't sleep I can't even eat I tried to sell my phone and if I sell my phone I won't be able to even solve 50% of the loan problems.. this is helpful
- 5/26/2024
Thank you very much for sharing this testimony it has really helped me with some principles to apply to set myself free from loan Apps, your advice has really helped to boost my confidence back.Thank you
- 6/21/2024
Thanks so much,am really appreciate oooo
- 6/25/2024
Going through the me dilemma, thank you very much.
- 7/18/2024
Thank you so much for dis
- 8/24/2024
Thanks for this. Came at the right time.
- 9/27/2024
Thanks for your advice
- 11/9/2024
Thank you so much bro,
- 11/28/2024
Such a great advice, just yesterday i only check how much 2 loan apps would give me, they sent me money without me applying for it... I have chat them and they did nothing about it, will never pay such high interest. Imagine they sent 17k without my approval and expecting me to pay 32k
- 2/5/2025
God bless u bro
- 8/25/2025
Honestly am into this situation now but thank God I came across this cause am dieing slowly but please my questions is this are they not going to find me no trace me
- 8/25/2025
Infact my heart is beating fast because of all this loan app, pls my question is can someone go free without paying them, until I have stable financial
- 8/25/2025

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Credit Direct

Credit Direct Limited is a prominent, established financial services company in Nigeria. It is not a new-age "loan app" but a fully registered and licensed Finance House that has been operating since 1996. The company is a subsidiary of the Nigerian conglomerate Adebola Sobanjo Company Limited (ASCO).

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How I broke free from the claws 35 loan apps

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