As I write this I can categorically mentioned over 25 loan apps that flashes on my timeline every time I surf the net. However, I would like to share my personal experience with the ones I had encounter with.
I type this with tears on my face.
As I write this I can categorically mentioned over 25 loan apps that flashes on my timeline every time I surf the net. However, I would like to share my personal experience with the ones I had encounter with.
My loan journey started with an urgent 3k.
After relocating from Abuja, I needed to stabilize a bit and gain new grounds. It was more like a fresh start.
On one of those days, I was out and out and needed something urgently. So that particular Sunday. I downloaded that loan app (1). Boom in the space of 10 mins, I got the alert.
As at that time, the 30% interest on 3k was just #900. Well I thought that was something I could repay back in 7 days.
I was to pay back only 3,900.
7 days came and I couldn't meet up as the client that was suppose to pay me didn't meet up with the payment. So I had to borrow from another app (2). The app I got could only give me 3k with an interest of 750. So I needed another app (3), to make up for the 900. So I downloaded another one who gave me 3,500 to pay 4250. So in the space of 30 mins, I already borrowed 6,500 to pay 8,000. Automatically my 3k loan had suddenly turned to 8,000.
This cycle of borrowing from one online loan app to pay another with outrageous interest led me into massive debt that I got stalked of paying.
Since I couldn't meet up with most of their deadlines, they ended up sending malicious messages to my contacts.
The words they use in describing me were outrageous. THIEF, SCAMMER, DUBIOUS on the run with company money. I was hurt. The things I feared most that got me into using one app to pay another finally caught up with me
Ironically, I end up paying those funds and some I damn the consequences, despite the labels.
The challenge with those online app is that somehow you will realize that the funds u intend to offset the loans with just doesn't meet up.
I remember I once did a project for someone and the person was suppose to pay me two days before the expiration of one of the plenty loans. Unfortunately, the person didn't meet up. Hence, I incurred massive penalty. At some other point, there were failed GTB transactions and the apps would claim they didn't see it. Hence I had to pay twice.
My parents were disappointed, my wife was embarrassed, my contacts were shocked, my church members were surprised, even my little Tammy was ashamed of her father been called such names. But in the midst of all, they all came to my rescue.
THE BOTTOM LINE ABOUT is that the APPS ARE TRAP. YOU CAN NEVER BE SET FREE. It's either you face the shame or damn the consequence.
My one pence advice
1. Never borrow from online app for consumption.
2. Never borrow without at least an assurance of getting the money 3 days before time.
3. Never ever borrow from online apps that don't have a customer care service agents. Those apps that have debt collectors as agents would insult and threaten the life out of you. The apps with customer care agents can at least call you to negotiate
4. NEVER EVER BORROW From ONLINE APPS
If you need help, ask from Family and Friends. No matter how bad the matter reach, your family members would not disown or embarrass you in public space.
I learnt that the Hard way. My parent had to come to my rescue when I didn't know what to do anymore.
5. If your name has been defamed, get to a beautiful supermarket, buy Ice cream or Buy Chicken and Chips take picture and send it to al your contacts with the capture.."THE LIFE OF A RICH MAN"
As I type this, some stupid loan apps are still sending me message and advertising on my wall enticing me to collect LOAN.
MAY THUNDER fire you there. May Amadioha strike you.
MY ONLINE LOAN APP CHRONICLES.
My name is IWALOLA & I AM NOT A THIEF, FRAUDSTER or a SCAMMER. Loan just went bad.
Have you ever been in my shoe?
