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LairaPlus Loan App

Free

In Nigeria    V1.0.1.2

5.0 (1 million +)

Security Status

in Nigeria

LairaPlus APP

Best loan app

in Nigeria

Free

In Nigeria   V1.0.1.2

5.0 (1 million +)

Security Status

What is the loan interest rate offered by the LairaPlus online loan app in Nigeria?

With the continuous development of Nigeria’s economy, more and more people are starting to borrow to meet various needs in their lives. LairaPlus is a very popular online loan app that provides Nigerian consumers with various types of loan products, including personal loans, commercial loans, and housing loans. Despite LairaPlus’s excellent performance in providing convenient loan services, loan delinquency is a headache inducing issue. In this article, we will provide a detailed introduction to how LairaPlus handles loan delinquency in Nigeria

Definition of loan overdue

Firstly, we need to understand the definition of loan delinquency. In the loan terms of LairaPlus, overdue means that the borrower has not repaid on time. When the borrower misses the repayment date, the loan will be considered overdue. This usually leads to loan companies charging additional interest and fines on overdue payments

Consequences of loan overdue

Loan delinquency is a serious problem that can have many adverse effects on borrowers. Firstly, overdue repayment will affect the borrower’s credit score. This will make it difficult for borrowers to apply for more credit loans in the future. Secondly, overdue repayment may result in borrowers needing to pay more interest and fines. In the worst-case scenario, the lending company may take legal action to make the borrower pay the overdue amount

LairaPlus Loan App

Free

In Nigeria    V1.0.1.2

5.0 (1 million +)

Security Status

for Android

How does LariaPlus handle loan delinquency

LariaPlus attaches great importance to the issue of loan delinquency and has taken some measures to help borrowers avoid overdue repayments. Firstly, LariaPlus will remind borrowers to make repayments a few days before the repayment date. These reminders can be sent through mobile SMS, email, or app notifications. Secondly, if the borrower is unable to repay on time, LariaPlus will collaborate with the borrower to develop a repayment plan to help them repay their debts in the coming months

LariaPlus’s handling of serious overdue payments

LariaPlus has taken some measures to deal with severe loan defaults. Firstly, if the borrower fails to repay within 60 days, LariaPlus will issue a collection notice to the borrower. These notifications will be sent via email, text message, or phone. Secondly, if the borrower fails to repay within 90 days, LariaPlus will take legal action to recover the debt. This may include submitting litigation documents to the court and requesting the court to freeze the borrower’s bank account

How to avoid loan overdue

Avoiding loan delinquency is very important. Here are some suggestions to help you avoid overdue LariaPlus loans:

1 Remember each repayment date and ensure timely repayment

2 If you are unable to repay on time, please contact LariaPlus to develop a repayment plan

3 Regularly check your bills and repayment records to ensure there are no errors

4 You can set up automatic repayment function to ensure timely repayment every month

5 If you anticipate not being able to repay on time, please notify LariaPlus as soon as possible and seek assistance

Summary

LariaPlus provides convenient online loan services in Nigeria, but loan delinquency is a headache inducing issue. Loan delinquency can have a negative impact on the borrower’s credit score and result in additional interest and penalties. LariaPlus has taken various measures to address loan overdue issues and reminds borrowers to avoid overdue repayments. If you encounter any repayment issues, please contact LariaPlus as soon as possible and seek assistance

LairaPlus Loan App

Free

In Nigeria   V1.0.1.2

5.0 (1 million +)

Security Status

in Nigeria

LairaPlus APP

Best loan app

in Nigeria

Free

In Nigeria   V1.0.1.2

5.0 (1 million +)

Security Status

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