Are lenders evil for charging high interest rates?
The average lender today typically charges 4% — 10% per month (48% — 120% per year). Whoa. It makes you wonder how they recover loans at these rates. At first glance, it seems outrageous, even exploitative but there’s more to the story when you consider the risks and costs lenders face in Nigeria’s financial landscape.
7 effective debt collection practices and legal considerations
When you choose effective debt collection practices, treat debtors with respect and adhere to the law, you're more likely to collect what you're owed.
How to communicate with delinquent borrowers
Delinquent borrowers — whose loans are past due and remain unpaid — often challenge even the most empathic lenders who excel at customer communication. Learn how to communicate with them today
