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.
