Beware Of Lendcash, Go Cash & Other Online Money Lenders

By Barrister Monkey Jacket

Has Sapa (Broke-ness, empty pocket) ever hit you so hard that you are tempted to source for loan from these so-called online money lenders be it Lendcash, Go cash or many others alike? If your answer is Yes, then Barrister Monkey Jacket is advising you to stay clear for the sake of your own reputation, but if you must borrow from these online money lenders, ensure that the providers of these loan have a verifiable address you can approach in the event that your Right is being violated.

Why do I say so? On 28^th October, 2021 one Mr. John was granted a loan of N16, 698 (Sixteen thousand, Six Hundred and Ninety Eight Thousand) only to be paid on or before 9^th November, 2021. On Monday, 1^st November, 2021 Mr. John made a transfer of the said sum borrowed to the online loan company, which is before the due date, only to wake up on 9^th November, 2021 to see that a message was sent by one Barrister Mark (No last name provided) of Tee & Co law firm to all his contact stating that a Three (3) count charge of Fraud, Negligence to communications, & Tying down of the company’s business asset has being filed in court, and an arrest warrant has being gotten to arrest the said Mr. John. The message went further to state that the intent of the letter to all his contacts inform the debtor to pay up his loan or the guarantor would be considered as an accomplice to the fraud perpetrated by the debtor. Imagine the embarrassment when such message is sent to the employer of the debtor.

A similar incidence occurred to one Mr. Innocent, who three days after default of a loan collected from Gocash, the following message was sent to his contact viz; “NOTICE: THE GENERAL PUBLIC IS WARNED TO BEWARE OF THE FAMILY OF INNOCENT WITH HE’S GUARANTOR WHO HAS PROVEN TO BE AN UNAPOLOGETIC CHRONIC DEBTOR ON THE RUN WITH COMPANY COMPANY’S MONEY HE BORROWED AND REFUSED TO PAY, WHICH INVOLVE YOU AS GUARANTOR. THE ENTIRE FAMILY WILL CONTINUE TO BE DISGRACE”.

It is important to state at this point, that contact between the money lenders and the borrower were still ongoing when this message was broadcasted to all his contact, secondly not all his contacts are guarantors to the loan borrowed, yet all his contacts were contacted as a guarantor of the loan, thirdly, the borrower is not on the run, neither is he a fraudster yet a message implying that he is has been circulated to all contacts, fourthly, even when you want to write a letter back to the online money lenders there is no verified address for service.

Upon further investigation, it was discovered that Tee & Co law firm is a law firm with address in Kuala Lumpur i.e Malaysia, while Tee Legal was incorporated in Yaba, Nigeria with registration Number 2301646 registered on 20^th May, 2014 whose activity is General Merchants & traders. When the number supplied was contacted, the agent claimed that he never sent out such message to the contacts of the borrower, while the number of the supposed legal professional (i.e Barrister Mark) is yet to go through as at the point of writing this article.

The implication of all these is that, not all your contacts who receive this message would bother to investigate further as to the truth of the matter, some would even cancel all financial dealings with you for a peanut of twenty thousand naira (N20,000.00) loan because some has called you a fraudster, to make matters worse, when the loan is eventually paid up by the borrower, there is no message sent out to your contacts apologizing or retrieving the earlier message sent, rather your reputation just suffered a blow you cannot come back from, that’s why I say BEWARE OF LENDCASH, GOCASH or any other online money lender.

Lest not forget that while applying for this loan, you supply personal information like your Bank Verification Number (BVN), account number, and even give permission to the loan App to assess your contacts all because of Sapa. It is understandable when majority of Nigerians approach this online money lenders for loan due to the fact that our commercial banks don’t give out loan to their customers when in dire need, but then again, let us not sell out our security and reputation for a paltry sum of money.

To chat with Barrister Monkey Jacket, send Hi on WhatsApp to +2348087208546 or click the link below https://wa.me/message/IHMZ6I3UOJY6G1