When it comes to loans, especially in recent years, it has come to be associated with a lot of bad PR. It’s bad enough that people who haven’t even taken a loan before are already traumatized by the stories they’ve heard others told about the extreme lengths these loan apps go to just to get their money back.
Just a day after the deadline, they begin to harass their debtors to pay up and they threaten thunder and brimstone if it’s not done. If that doesn’t happen, they could just as easily post pictures of the debtor all over social media and accuse them of fraud, even to the point of declaring them wanted. There are so many atrocities that they commit.
But when you think about it, you can’t really blame them for taking it too far. Many people have the habit of taking loans and refusing to pay. They are attracted by the lump sum of money, and when it comes they joyfully spend it. However, when the time comes to pay back, it becomes an uphill task for them. They’ll do everything in their power to frustrate the company all in a bid not to pay up. And the companies, to be on the safer side, treat everyone that way. At least, even if you don’t have the good heart to pay up on time, you’ll be scared of the aggression with which they’ll come after you.
And that, my friends, is how it is. These small banks that make their living off giving loans to people, they’ll be ready to do whatever they can to get their money back. And funny enough, there are so many loans to take that when you hear about them and the interest that comes with them, you’d wonder what made you take it in the first place.
As for me, I don’t have a lot of experience when it comes to loans. I’ve seen the good side of loans and I’ve seen the bad. My Mom is a civil servant and she takes loans regularly. The bank is backed by the Lagos State government, so it’s all legit, and due to the caliber of people they’re dealing with, they can’t dare stoop so low as to try intimidating them into paying up. But then, you can’t even default on the loan even if you wanted to because as your salary is being paid into your account, the amount you’re meant to pay for that month would be automatically deducted and sent off to the bank.
I’m the kind of person that can only take a loan for something that I’m sure would yield me profit so I can easily pay it back. Or maybe in the event of an emergency and I have no choice. People take loans for the dumbest reasons, to throw parties, to buy fancy clothes, just for the hell of it… and it’s crazy. Because when all is said and done, they’ll have no idea how to pay it back.
I guess this is why I don’t have any experience with loans, I try my best to live within my means and when I’m taking financial risks, I choose to take the risks with my money. The only company I ever owed was MTN when I borrowed airtime from them, almost to the tune of N2000. I eventually paid it all back though, and since then, I’ve never borrowed again.
They even made it easier to stay true to my decision because when I slacked in my resolve and tried to borrow some more, they woke me right up. I needed N50 just to send an SMS to someone, so I applied to borrow airtime with the code. However, to my shock, I was notified that I was ineligible to borrow N50, and the minimum I could take was N600! Can you imagine? My eyes opened at that moment and I killed the idea immediately. I’ve not tried to borrow again. These days, if I don’t have airtime, I’ll use data. I always have data, unless there’s no network.
I also have personal loans I’ve taken from my friends and family from time to time, but everyone is just sweet to me and no one hassles me at all. I pay as at when due, and even if I can’t they’re all understanding people. So, all in all, I don’t think I’ve ever had a bad loan experience. And I pray that I never get one.
I don't like anything about a loan because the interest on it won't be funny, but then I have paid back a loan that I never applied for all because I was checking their terms and conditions so that I could help someone in need.
It was a very bad experience because the harassment was too much all because of a loan I never took.
As in ehn... they're ruthless with the harassments and that's the one thing chasing everyone away.
You see all those loan apps, I have never tried it but I know that some people take loan from that means without any plan of paying back. So if such people are being dragged on the Internet, that suits them
The one time I got an emergency loan from Gtbank was so smooth just like your mum's experience...one, the money saved life, secondly, the payment was through my salary.so I don't get to receive complete salary each month.. Gtbank will take theirs while I manage the balance
But..I have gotten an uncalculated loan from my brother..oh nkem, learn!!!🤦🤦
Hehe...what can we do? I'm glad things worked out for you in the end. The loan came in really handy.
This post has been manually curated by @steemflow from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating to @indiaunited. We share more than 100 % of the curation rewards with the delegators in the form of IUC tokens. HP delegators and IUC token holders also get upto 20% additional vote weight.
Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @steemflow by upvoting this comment and support the community by voting the posts made by @indiaunited..
This post received an extra 12.83% vote for delegating HP / holding IUC tokens.
Thank you for this.
👏 Keep Up the good work on Hive ♦️ 👏
❤️ @bhattg suggested sagarkothari88 to upvote your post ❤️
🙏 Don't forget to Support Back 🙏
Thank you for this.
@bruno-kema, you are most welcome!
Please Support Back
Here is !ALIVE token gift for you
Here is !LUV token gift for you
@bruno-kema! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @ hivecurators. (3/10)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want, plus you can win Hive Power (2x 50 HP) and Alive Power (2x 500 AP) delegations (4 weeks), and Ecency Points (4x 50 EP), in our chat every day.
bruno-kema, hivecurators sent you LUV. 🙂 (1/10) tools | trade | connect | wiki | daily
Made with LUV by crrdlx.
I love that type of loan😅 but some people can be very funny that they will take airtime loans from networks and may not pay up in a year until they have something that is very important to do with the SIM card so they will just pay up
Some will borrow airtime and abandon the sim to buy another one. It's just silly to me. People who change numbers all the time are especially guilty of this.
I think we should try to stay far as much as we can. Loan can be taken if it's necessary and we are sure to finish installment otherwise the consequences will be very bad. Nobody wants to lose their money.
Yeah... it should be taken only if necessary. That's the main thing.