Lcredit Loan App Nigeria Apk

Lcredit Loan App Nigeria Apk – Naira Cash is the fastest, easiest and safest way to get credit when you need it. Whether you want to buy a new car, start your own business or just pay your bills for the month, Naira Cash can get you the money you need in minutes.

With Naira Cash, applying for a loan is as easy as filling out a form. We will take care of the rest. After the loan is approved, you will receive the money immediately in your bank account.

Lcredit Loan App Nigeria Apk

Lcredit Loan App Nigeria Apk

Laws regarding the use of this software vary from country to country. We do not endorse or approve the use of this program if it is in violation of these laws.

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At Softonic, we scan all files hosted on our platform to assess and prevent any potential damage to your device. Our team performs checks every time a new file is uploaded and regularly checks files to confirm or update their status. This comprehensive process allows us to set the status for any download as follows:

We have checked the file and URLs associated with this software program against more than 50 of the world’s leading antivirus services; no possible threat detected.

This means that a harmless program is wrongly flagged as malicious because of an overly broad signature or algorithm used in the antivirus program. If James Okapara were to reconsider the decision he made a month ago in an attempt to revive his ailing mother, there’s no doubt he’d avoid anything to do with online loan applications and all that stands for.

The proliferation of online loan applications across Nigeria by some fraudulent and unscrupulous profiteers has become a necessary evil for many low-income Nigerians who are forced to borrow to ease the country’s dire economic realities. Unfortunately, many of them have been caught in the web of fake loan applications run by individuals and companies on the Google Play Store to defraud low-income people. CHIJIOKE IREMEKA writes:

Shame, Suicide And The Dodgy Loan Apps Plaguing Google’s Play Store

25-year-old Okpara, who hails from Orlu, Imo State, was racing against time to save the life of his mother who was lying critically ill in a hospital bed awaiting a liter of blood transfusion. He successfully snatched his mother from the cold hands of death, but he did not escape the tragedy that befell him after that, because he could not repay the loan with which he bought the blood that raised his mother to her feet.

A promising young man, a skilled drummer, regretted the day he downloaded the NCash online loan application on his Android mobile.

According to Mr. Solomon ForJesus, an eyewitness, Okpara was forced to borrow N26,000 on November 4, 2021 to buy blood and had to repay N35,100 on or before November 10, 2021 (within six days) or risk being embarrassed and humiliated by the debt collection officer of the application.

Lcredit Loan App Nigeria Apk

Unfortunately, with an interest of N9,100 on a loan of N26,000 in six days, bringing the total amount due to N35,100, Okpara was unable to meet her repayment obligation.

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The young man full of life was hoping to travel abroad to greener pastures based on a promise made to him by a good Nigerian. On the day he was expected to repay the loan, he traveled to the village to see his convalescing mother. On his trip, he frantically tried to pay back the money via online money transfer to his lender, but was unable to do so successfully due to online errors.

When Okpara reached his village, he was still unable to repay his loan until the next day when he received a message from Loan App’s customer care officer demanding repayment from him.

After Okpara failed to respond appropriately, the debt collectors engaged in shameful acts, including sending hostile messages to Okpara and others in his contacts. Okpara was labeled a fraud in the news and the public was advised not to have anything to do with him.

Unfortunately, hostile news reached the man who was supposed to sponsor his trip abroad, who abandoned the plan after reading that Okpara was a fraud. He moved away from Okpara because of the news.

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Okpara’s dream faded after several failed attempts to get his sponsor to look at the situation from a different lens. He broke down emotionally and fell into mental distress. And that was the last straw that broke the camel’s back.

His blood pressure was found to have skyrocketed, leading to his death after seeing his life-changing opportunity slip away, along with the humiliation that followed. No thanks to the hostile debt collection hunt for online loan Shylocks proliferating the internet.

To find out what might have happened to Okpare and how shame and embarrassment affect borrowers, a clinical psychologist, Dr. Candifidel Onwuraokoie, said such an experience can cause mental pain which, if not dealt with immediately, can be fatal.

Lcredit Loan App Nigeria Apk

“As a result of the substandard treatment of these online loan applicants, there is the potential for abused people to develop traumatic stress disorder.” Remember that they are already stressed before they ask for a loan to clear their head. Exercising more stress can cause this condition, and if help doesn’t come immediately, it can be fatal.

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“This can even lead to suicidal tendencies and actual suicide.” “Maybe that could explain what happened to Okpara and it could still happen to more people if this approach to debt collection is not addressed,” he said.

Other Nigerians have suffered the same fate at the hands of online lenders. This is what many people go through every day to get their money, unfortunately the regulatory authorities are still not solving the anomalies.

The investigation found that the impact of the COVID-19 pandemic and stifling government policies are a double whammy that is forcing the unemployed and underemployed to borrow to feed themselves, even when they don’t know where the repayments will come from.

“The ever-increasing prices of goods and services in the country without adequate employment opportunities or wage and salary increases is a double tragedy that is destroying Nigerians. The situation will be worse next year because the government plans to increase the price of fuel pumps,” said economist Able Ndukwe.

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He noted that due to job losses and wage cuts caused by the pandemic, many low-income Nigerians have resorted to borrowing to survive. The unlucky get stuck in a web of fraudulent loan applications.

“While there are other real loan apps, predatory digital loan apps masquerade as platforms where quick loans can be accessed without any security other than providing a Bank Verification Number (BVN), name, asking for permission to upload pictures and videos, accesses location, contact, media and files on the device,” said the economist.

Some fraudsters, especially amateur cybercriminals, have been found to deliberately host online loan applications to allow them to get unsuspecting people’s personal details into their banks to create a pool from which to prey on their next victims.

Lcredit Loan App Nigeria Apk

They require borrowers to repay high interest rates within seven to 15 days, up from the 91 to 365 days shown on the Google Play Store before the app was pulled. This violates the Google Play Store policy updated in August 2019.

Zero Collateral, Instant Loan

An investigation revealed that the Google Play Store does not allow apps that advertise personal loans that loan applicants are expected to repay in full within 60 days or at any time less than 60 days. Why this rule is not applied is a question that turns the heads of many loan seekers.

“We don’t allow apps that promote personal loans that require full repayment within 60 days or less from the loan date (short-term personal loans). These policies apply to apps that offer loans directly, lead generators, and those that connect consumers with third-party lenders,” the Google Play Store guidelines state.

Meanwhile, most of those who downloaded these apps are now regretting their actions. Some of them were robbed. They are currently calling on the Central Bank of Nigeria (CBN), the Economic and Financial Crimes Commission (EFCC) and law enforcement agencies to intervene and protect them.

“My experience with Easy Credit is the worst. The girl called the day after my appointment and threatened to inform all my contacts that I owed money to Easy Credit. I immediately transferred N10,000 to Easy Credit account but it was not processed,” said Akpotu Efeturi, the victim.

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She claimed that after repaying the N10,000 borrowed, she is still being charged 1.5 per cent default interest every day.

“I keep getting messages about the interest charges until they pile up to N59,000 a month. The N10,000 I paid earlier is not shown. One morning, all the money from my account was deleted, but no one told me anything. I also sent proof of payment, but no response. I hated myself for using this app. They are scammers,” she claims.

Also, if the story of Mr. Benjamin Udoh, who lent

Lcredit Loan App Nigeria Apk

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