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How Loan Company Illegally Removed Cash From Customer Bank Account

Investigation last December, revealed how lending companies offer short-term loans to help subscribers meet urgent needs, but resort to unprofessional measures of harassment, cyberbullying, and breach of data privacy of their customers who may have defaulted in loan repayment, A PREMIUM TIMES had reported. It could be recall that no fewer than seven digital loan companies GoCash, Okash, EasyCredit, Kashkash, Speedy Choice, Easy Moni operating in Ikeja, Lagos, were raided in a joint operation with the Federal Competition and Consumer Protection Commission (FCCPC) last year December for a “possible violation” of consumer rights. Recent violation of customer rights has however been traced to EASYBUY loan company, a victim who obtained #26,000 loan was rescheduled to pay #11,016 for 3months of repayment plan, meaning the customer would have to pay #33,048 in return of the amount borrowed. The customer who had paid for the first month in October 1st, second months November 1st and third months to repay the last outstanding defaulted for over 2hours, meaning he paid on 2nd December around 2.am. whilst interest of hundred naira had been added to #11,016 making the outstanding payment gulped to #11,116. Unfortunately, the customer Rights was however breached as the company went ahead to removed cash from his account gradually untill it reached another #11,016, the cash was debited trice times as stated below; 1• #3,012. 56k 2• #6336. 26k 3• #1667, 45k Total amount illegally removed after loan had been resolved equals #11,016.07k The customer however noticed reason to further removed cash illegally was not to escape the company from obtaining future loans, he quickly remembered most of their agents had severally called with different companies number, persuading him to obtain loan, but fortunately, he had a number saved whose name is still anonymous. “the agent (lady), after several calls by the victim, conversations on Whatsapp to keep his integrity, he begged for reversal of his fund, but the agent said after 7days, meanwhile, the cash was not refunded as at 2nd December till-date without future expectation. The customer went ahead and re-obtained loan of #42,0000 appeared on the company’s digital application and promised to refund on a condition “only” when the fund illegally removed from his financial institution is remitted for the first month of repayment where he’s to pay sum of #42,000 trice times as scheduled on the fund repayment plan dashboard; #18,343. 22k for three months.

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