NewStats: 3,264,581 , 8,184,160 topics. Date: Wednesday, 11 June 2025 at 03:48 PM 491b4x

After 2 Years, Man Owing N80k Res Loan App, Cries Out as His Debt Climbs to N1.4 Million

A Nigerian man is in a dilemma after seeing how much an N80k loan he took two years ago has become .The man reed the loan app after two years and was shocked to find out he now owes N1.4 million .

A lawyer has reacted to the man's situation and advised him on what he should do as a matter of urgency. Barrister Atanda Olatunji made the man's outcry public, via his Facebook handle, The People's Parliament.

According to the man's story, he reed the loan app and was surprised to find the whopping amount. He begged for a way out. His message read:

"I Re-D0wnloaded my L0an App today and i was surprised with what i saw. "Atanda, L0an of 80k last 2 yrs is now 1.4M, what can i do pls."


Reacting to the man's outcry, Barrister Atanda advised him to sort out the loan issue now as it would affect his credit score and deny him many opportunities in the future.

He further advised the debtor to visit the loan company's office and plead for a fair ground, adding that it is in their hands to determine his fate. [b]"My dear you sort it out now cos it will not stop increasing which will affect your credit score so badly and you will out from many opportunities in future. "[/b]Go to their office and plea for a fair ground and promise that you are about to pay. They will bring it down it down to 50% for you.
That's the only option and they may also not agree to your plea. It's their right. They have the power to accept or reject your plea.

The barrister warned that the debt would keep increasing if the debtor did nothing about it. "The more it delay. The more it pile up. One day you will wake up to check and see 10M gbese for you 😀. Once it's cross 3M , the company will file a suit against you. "I hope you are ready for it. You go go court tire and loose your property worth that amount when e reach that stage. Ignorance of the law is no excuse..."

The legal practitioner urged the man to pay up the loan and funnily suggested an alternative. "Pay your Loan. No think say them go cancel am cos you delete the app oooo. The only way out na to travel out comot from this country and start your life in another country. Ehen, you will be free.

https://www.legit.ng/people/1639049-after-2-years-man-owing-n80k-res-loan-app-cries-debt-climbs-n14-million/

It's so funny linking your bvn to a loan app and thinking you just hama 80k not knowledgable what's personal data it's all about.

Nothing is free. There is always a secret price tag. Those loan agents that always coerce people into borrowing even when they are not having a defined payment mechanism should be ignored. Some people even borrow to buy clothes just to showcase themselves to be wealthy even when feeding in impossible. I wish him luck.

Why will he obtained a loan from fintech app without paying back for two (2) solid years. The outcry is not needed.

The story self. A man re-, a man re- I want to start reading, I saw another a man re-. How many times the man re- the app. I go blame the guy for this one. You took loan of 80k. May be because them too disturb you, you delete the app. Waiting come make you no pay back the 80k small small.. A whole 2 years.

Anything loan is not good.

Aswear!

Those a55wipes would tarnish your image without breaking a sweat if you default.

And they love calling in the middle of the night thereby cancelling your sleep.

Id bet they only prey on the gullible and broke but allow the rich breath.

But the man mumu sha....

Does deleting an app make the debt vanish? 🤔🤔😁

d barrister is smoking cow shit


Let me give d man d correct advise... if it from any loan app that is not ed by the government or insured by FDIC, give dem ur middle finger... let dem fuk demselves


If it Okash or Fairmoney or those loan apps that are FDIC insured and recognised by government, u can then reach out to them at ur own convenience. Don't beg dem with ur salary o. Make sure u av eaten well and there is money left to give away, then dem to come and take what u av... With toothpick sef, pay dem small small bt tell dem u will only pay 120k. And listen to their explanation.

Currency dey fall and interest dey high ?



Mind u, it won't affect anything. How many people dey talk abt credit scores for Nigeria ? if u want loan from Lapo or loan creditors in d future, they won't look into that. that's a fact.

I know people would say am encouraging debtors, bt let tell d truth without putting d guy into panic mood.

Ringstonermasks:
d barrister is smoking cow shit


Let me give d man d correct advise... if it from any loan app that is not ed by the government or insured by FDIC, give dem ur middle finger... let dem fuk demselves


If it Okash or Fairmoney or those loan apps that are FDIC insured and recognised by government, u can then reach out to them at ur own convenience. Don't beg dem with ur salary o. Make sure u av eaten well and there is money left to give away, then dem to come and take what u av... With toothpick sef, pay dem small small bt tell dem u will only pay 120k. And listen to their explanation.

Currency dey fall and interest dey high ?



Mind u, it won't affect anything. How many people dey talk abt credit scores for Nigeria ? if u want loan from Lapo or loan creditors in d future, they won't look into that. that's a fact.

I know people would say am encouraging debtors, bt let tell d truth without putting d guy into panic mood.

I thought as much . Maybe the Lawyer is attached to those loan quacks.

People who take loans without the intention to pay should be jailed

CHRONIC DEBITOR

-Don't get a loan if you don't have a means of paying back.
-Don't get a loan for a lavished lifestyle but majorly for a business that could multiply the loan.

Most Nigerians are bad debtors, I wonder why someone would collect a loan with no plans of paying back.......That's wickedness!

Credit score ke

All this loan sharks/apps should rest abeg!!

It’s crazy.

That rubbish should stop.

If you put money in bank for 2 years, does it get to 1.4m?


Loans % should not deviate far from savings %

You ed the app to take another loan.

ify2016:


https://www.legit.ng/people/1639049-after-2-years-man-owing-n80k-res-loan-app-cries-debt-climbs-n14-million/

loan apps that are not ed to nigeria, all this Chinese loan app. The ed no dey increase the interest like that na all those fake ones dey do anyhow .

Nigeria appex bank and government are useless, I think they are owners of all these loan app, how can someone loan you money with 110% interest , if you take 190k from fairmony, you will pay 80k each every month for 5 months, imagine that nonsense..... You might need that loan for short term but they will drag it long with no options of repayment, in other places loan are given to soften hardship but here its different game... Everyone has his or her own price

Phranx1:
It's so funny linking your bvn to a loan app and thinking you just hama 80k not knowledgable what's personal data it's all about.

How is it funny?
Let the money stay there and die there. Useless blood sucking loan apps many of them. Thieves !
Fair money, carbon, branch, and a few cannot do such fraudulent things.

From N80k to N1.4million in 2 years, the Loan company should be seriously queried on how it arrived at that outrageous amount, nevertheless I am not encouraging obtaining Loan and deferred payment...whatever the underlying issue(s), that amount is nothing but an avenue to swindle him...

Who de do credit score for Nigeria?

Lawyer just dey play. Nonsense. He should pay 50%? Like 700k on 80k loan? That lawyer dey ment. Most loan apps stop adding interest after a while. Na mushroom loan apps dey do that rubb1sh the guy is facing. If them go Court sef, Court will just ask how much you can be repaying and if na 1k monthly sef, court fit approve am. In this situation, na to write them tell them you are willing to pay the loan and initial interest. That's all. If them gri, fine. If not, na their wahala. Nothing will happen.

Doesn't the loan app have a name? I'm in of everyone paying up their own debts but this is outrageous. The loan app should be exposed so that others will abstain from them. And I have a feeling that lawyer is d to some of these loanshark companies.

I am not interested in hearing excuses—I hold the man in question fully responsible. He has a clear obligation to repay his debt, regardless of any explanation.

The lawyer has provided sound advice.

Even if unforeseen circumstances arose, he should have approached the company to renegotiate his repayment or seek a loan restructuring to make repayment more manageable.

If he believes he is free from his obligation, he is mistaken.

At this point, he will no longer be able to secure a loan from any bank in this country.

when taking loan
make sure u make payment as agreed

Around 2018, I borrowed 5400 naira from Branch . I was unable to to pay back since then and I was really scared it would have skyrocketed but when I was able to about 3 months ago ,the amount to pay back was still the same .

Ringstonermasks:
d barrister is smoking cow shit


Let me give d man d correct advise... if it from any loan app that is not ed by the government or insured by FDIC, give dem ur middle finger... let dem fuk demselves


If it Okash or Fairmoney or those loan apps that are FDIC insured and recognised by government, u can then reach out to them at ur own convenience. Don't beg dem with ur salary o. Make sure u av eaten well and there is money left to give away, then dem to come and take what u av... With toothpick sef, pay dem small small bt tell dem u will only pay 120k. And listen to their explanation.

Currency dey fall and interest dey high ?



Mind u, it won't affect anything. How many people dey talk abt credit scores for Nigeria ? if u want loan from Lapo or loan creditors in d future, they won't look into that. that's a fact.

I know people would say am encouraging debtors, bt let tell d truth without putting d guy into panic mood.

For the loan to have been 1.4m from 80k in 2years shiws it's one of these unstructured loan apps. No way 80k would have been 1.4m in 2 years in a normal ed and recognized finance institution in Nigeria at what rate pls? Such loan will be declared bad debt at some point while they stop adding interest and call on you to come and pay off. Also, you can reach out to Credit Bureau to find out about your non-performing loans. If he finds this particular loan there, it means the loan company is duly ed but if not, it is up to you if you will pay or not. How can one pay 1.4m for a loan of 80k in 2 years. That's wickedness

Phranx1:
It's so funny linking your bvn to a loan app and thinking you just hama 80k not knowledgable what's personal data it's all about.

Oga, your BVN and other details can be bought for N100 on a two-page website.

If the app isn't regulated, there's nothing that will happen!