What happens if you don't pay

Loans from M-shwari, Tala, Branch et al.

I have never read their T&C just like every other Jane from the population.

So, what is the worst these mobile loan lending apps can do if you fail to pay up?

bewitch you ukule nyasi,dawa ya deni ni kulipa

They submit your name to the CRB and get you blacklisted. Its inconveniencing if you ever want future loans.

sweetie i acknowledge your presence hata kama hutaki kuongea,

Omba kuma inbox
Meffi wewe

junkie gay ,please niwache

Kujia guarana hapa kiserian

Ahh. The only serious reply here. Final kwechon about CRB. Does this still applies to Youths (regarding the rule for not listing them into CRB)

I’m not sure it was implemented. But you can’t really get a serious loan without an ID, a steady job or proof of steady income and a clean record.

I don’t even know if they still have unsecured loans as options for the unemployed.

Au afungwe kunya

Fira io mungiki imetusumbua

iko namna gani @Nefertities

Haha Timiza are willing to give me a 15k loan

pour tu

They will auction your tsestses*.

After guarana sita hana bahati

Since you seem to know hizi vitu, what’s the average interest rate on secured loans when you have a job and good credit? Not a biggish loan, let’s say 1M pesa za Kenyatta

I don’t know the current interest rate for different banks. Maybe someone else can help you there. I’m pretty sure its that its probably outrageous and seeing as its a secured loan, you stand the risk of loss of assets and property. They don’t really give too much leeway on secured loans with trying to follow up or giving you time to figure your finances out if you’re unable to pay for specified periods of time.

Its a bit better for unsecured loans though because the most they can do is list you and keep harassing you with calls from their collections department.

For secured loans, yes.

The only upside to it is that there is now a law which requires them to give you back anything over the loan amount plus interest if they auction your property or assets and they are no longer allowed to auction at throwaway prices just to recover their amount only.

Ni kufirwa ulipenda, ghasia