Digital lending is currently at its peak owing to the devastating effects of the global pandemic that shut down many businesses and rendered a sizable number of the population jobless.
With banks and other microfinance institutions adopting stringent measures on their credit facilities, the majority of Kenyans are left with no option but to seek the unregulated digital lenders despite their high interest rates and short repayment duration.
Whereas registration and application for these loans may be as easy as providing your personal details (names, date of birth, ID number, marital status, education level, employment info, contact referees etc) repayment may turn into a nightmare especially if one cannot manage to pay on time due to one reason or the other.
The most common outcome of the above being incessant calls from different numbers which eventually breach personal privacy by extending the harassment to one’s phone contacts irrespective of whether they were indicated as contact referees or not.
One common method of how loan apps manage to achieve this is by users granting them access to phone data such as contacts, messages, photos, videos, location etc during the installation process.
A member of a popular facebook mobile loans group came up with a pretty hilarious advice on how one can eventually turn the tables on such lenders who pester phone contacts with meaningless threats.
He made the below statement:
Let the Okash agent call you. Talk to him nicely and save his number. Tomorrow another will call you. Do the same. Save up-to 10 of them. Go to the playstore. Download 10 loan apps. Use the saved agent’s numbers as a referee. Uninstall all after receiving the loans. Acha agents pia wasumbuane life itambe. Si kesho
The member’s post elicited hilarious comments with each commenter unanimously agreeing with his ‘wisdom’.
What do you think? Can it work?
Categories: Loan Articles
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