- A Nigerian man is in a dilemma after seeing how much an N80k loan he took two years ago has become
- The man redownloaded 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
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A Nigerian man has cried out after his loan of N80k grew to N1.4 million in two years.
Barrister Atanda Olatunji made the man’s outcry public, via his Facebook handle, The People’s Parliament.
He redownloaded the loan app after two years.
Stock photo. Posed by model.
Photo Credit: Richard Darko ArtMarieSource: Getty Images
Man redownloads loan app
According to the man’s story, he said he redownloaded 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, wat can i do pls.”
Lawyer offers advice to debtor
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.
“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.
“Go to their office and plea for a fair ground and promise that you are about to pay.
“They wi bring it down it down to 50% for you.
“That’s the only option and they may also mot 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 does 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 c0urt ture and loose your property worrh that amount when e reach that stag3.
“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 L0an.
“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.
“If dem block you for 9ja airport.
“Pass Ghana or Togo comot 🤣.”
Reactions trail debtor’s outcry
Abednego Effiong said:
“Who said it is compulsory to pay the loan ? The only disadvantage with not paying back your loan is that ,u can’t be allowed to take any loan again from any other financial institution not even your bank.”
Lateef Adeyemi Sokale said:
“Chai! The money is too much ooooo.
“How much is even the interest on 80k per month?? 🤔🤔”
Olaide Patience Kawonise said:
“If you check that loan app u go know say na palm credit or palmpay those ones are craze.”
Ademola Kareem said:
“Infact, it really surprised me that you took a loan without a clear plan for repayment. The high percentage was agreed upon before you accepted the loan.
“Those privileges are enjoyed by other countries without being abused.
“The company is running a business, and taking the loan was your decision. Additionally, they have employees who receive monthly salaries.”
Mamè Franca Kay said:
“Those laughing at the poster, do you know the reason behind him/her going for the loan???
“When certain situations in life hasn’t happened to you, don’t laugh or mock people in it.”
davisondpilot said:
“This is the reason I always advise ppl to avoid anything loan,it is demonic they will use right hand to give and Use left hand to collect it back.”
In a related story, TheTalk.NG reported that a barrister had shared how Nigerians could deal with loan apps harassing them.
Man reportedly denied visa over loan
Meanwhile, TheTalk.NG previously reported that a man was reportedly denied visa for owing a loan app N5k.
When quizzed about the possibility of one’s visa being denied because of an outstanding loan, an immigration lawyer, Hauwa Uthman, replied:
“Yes, it’s possible. One’s visa can be denied because of issues like that. Proof of funds and financial statements are not supposed to be played with. The man shouldn’t have applied for the visa without settling his debts.”
Source: TheTalk.NG
