In recent years, digital loan apps have become a popular choice for us in Nigerian because we love quick and convenient financial solutions. These platforms offer rapid access to funds, often with minimal and swift approval processes.
However, alongside their benefits, there has been a troubling rise in reports of unethical practices by some of these lenders. Borrowers have faced harassment, cyberbullying, and defamation as aggressive debt recovery tactics.
Such actions not only violate personal privacy but also contravene consumer protection laws in Nigeria. What’s more sickening is that many of these loans are often 7 days periods which is usually not enough for most people.
The Federal Competition and Consumer Protection Commission (FCCPC) has acknowledged these issues and is intensifying enforcement efforts against such practices
If you’re experiencing harassment from loan apps, it’s essential to take proactive steps to safeguard your rights and well-being. Here are some measures to consider:
1. Know Your Rights
Nigerian laws protect consumers from harassment and unfair practices. The Federal Competition and Consumer Protection Commission (FCCPC) has taken action against loan apps that harass customers. Understanding your rights is the first step toward protection.
2. Keep Records of All Interactions
Document every instance of harassment, including calls, messages, and any other communication. This evidence is crucial if you need to report the lender to authorities.
3. Communicate Clearly with the Lender
Inform the lender in writing that their methods are unacceptable and request that they stop all forms of harassment. You can message the loan via their email, phone number or in-app support.
4. Report to the Appropriate Authorities
If the harassment continues, file a complaint with the FCCPC or the Nigerian police. Provide them with all the evidence you’ve gathered to support your case. See this for more details: FCCPC
5. Limit the App’s Access to Your Data
Many loan apps access your contacts and other personal information. Adjust your phone’s privacy settings to restrict these permissions, preventing them from contacting people you know.
6. Seek Legal Advice
Consult with a lawyer to explore legal actions against the lender. They can guide you on the best course of action and help protect your rights.
7. Avoid Unlicensed Loan Apps
Before borrowing, ensure the loan app is registered and approved by the FCCPC or the Central Bank of Nigeria. Unlicensed lenders are more likely to engage in unethical practices.
Facing harassment from loan apps can be distressing, but by taking these steps, you can protect yourself and seek redress. Always borrow responsibly and choose reputable lenders to avoid such issues in the future.
