Digital lenders has been on record to have helped borrowers much when it comes to improving their living standards. It was noted with a lot of concern that despite helping the borrowers, some do charge abnormal interest to the loan issued.
According to public report, it was noted that some of the digital lending institution do threaten their borrowers especially for late payment and if any case they default loan payment.
In addition, a report from NTV Kenya indicates that most of the digital lending sites will be ban from revealing names of their borrowers as they had planned to do. It was noted that there are many loan defaulters in various digital lending sites that makes then not to run their business as expected.
In addition, it was reported that most of the loan defaulters were very happy about this as they stand a chance to avoid loan repayment completely.
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