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The Secret Behind Mobile Loans And "Lipa Mdogomdogo" Loans Lenders That Is Destroying Poor Kenyans

Loose of jobs and poverty has led many Kenyans to seek loans for survival. Those who have smartphones have enjoyed the better side of it by borrowing loans depending on the limit they are offered. Loans app have made their breakthrough in play store and people are doing anything to have them in their phones.[Photo Courtesy]

People are borrowing loans to start business but when the business does not go well as planned, they resort to avoid paying the loan. Some of them have disposed their SIM cards not remembering that the ID number they used is still the same. Their ID numbers have been placed in CRB and that means you cannot borrow any loan anywhere.

What the loan lenders are doing is just crazy. They give you with an interest knowing that they will get profit. When you fail to pay their loan they will come for you and claim things that are even more than what you owe them.

Take for instance those who have those "Lipa Mdogomdogo" this that have flooded 5ye market. You may be paying but when you fail to pay for some time they will come and take their product with them. They will not remember that you have paid for it for a long time and that is the one of the ways that they are using to pay themselves.

The results of all this loans is to see that Kenyans are not paying and they will list you in CRB while other will come and take all my our belongings to the auctioneers. That is how they pay themselves when you do not pay their money .

Content created and supplied by: TheeWriter (via Opera News )

Kenyans Lipa Mdogomdogo SIM


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