Though they have a flexible repayment period of between 14 to 30 days whereby users can choose from, sometimes unfortunate circumstances divert our initial commitments and we find ourselves on the negative side of situations.
Below is a timeline of when i ‘accidentally’ defaulted on a Senti loan.
- Earlier in the day, I received an SMS message that my loan was 1 day overdue and that i should make the repayment in-order to keep borrowing from Senti.
- Later in the day, i received another SMS message stating that i should plan and make the repayment lest i be BLACKLISTED or forwarded to CRB.
- No SMS messages
- I received an SMS message stating that i was 3 days late and that i should make the payment so as to avoid penalties.
- An SMS comes through that i should clear the overdue loan that has been pending for 4 days to avoid being listed by the CRB.
- The usual SMS highlighting my 5 day overdue status and that i should make the repayment so as to avoid penalties and blacklisting.
- I receive 2 SMS. One stating my 6 day overdue status while the other tells me to make the repayment so as to avoid CRB listing.
- I receive a rather long SMS message informing me that i was 7 days overdue and as per their terms and conditions, they are slapping me with 7.5% penalty on the total outstanding amount.
DAY 8 – DAY 9
- I receive another reminder that my loan is 10 days overdue and that i should effect the payment immediately to avoid blacklisting.
DAY 11 – DAY 12
- I get the shock of my life when i receive an SMS from one of Senti collection agents informing me that my details had been escalated to them.
- I finally manage to avail the amount and quickly effect the payment. I attempt to request for a loan but i am met with the saddest looking emoji and a small pop-up box informing me that my request was declined.
Have you ever defaulted on a mobile loan? How did you go about it?? Share your experience in the comment section.