Easybuy Nigeria, a popular phone installment plan loan provider, has gained significant attention in recent years. While it may seem like a convenient and accessible way to own a new phone, there is a darker side to these loans that needs to be exposed.
In this article, we will delve into how Easybuy has used its phone installment plan loan as a trap to extort Nigerians, and the mental and physical effects it has on its users.
The Easybuy Trap: Extorting Nigerians
Easybuy Nigeria presents itself as a solution for individuals who cannot afford to buy a new phone outright. They offer a seemingly attractive installment plan that allows users to pay for their desired phone over a period of time. However, what many fail to realize is the exorbitant interest rates and hidden charges associated with these loans.
Easybuy lures unsuspecting individuals with the promise of owning the latest smartphones without the need for upfront payment. However, once users sign up for the loan, they are trapped in a cycle of debt. The interest rates charged by Easybuy are often astronomical, making it extremely difficult for borrowers to repay the loan in a reasonable timeframe.
Furthermore, Easybuy has been accused of disabling essential functions of users’ phones if they fail to make their daily payments. This not only puts individuals at a disadvantage but also adds unnecessary stress and anxiety to their lives. The company’s tactics of bullying and threatening users with legal action for non-payment are unacceptable and need to be addressed.
The Mental and Physical Effects on Users of Easybuy Nigeria
The consequences of Easybuy Nigeria loans extend beyond financial strain. The mental and physical effects on users can be devastating. The constant worry and stress of meeting daily payment requirements can lead to anxiety, depression, and sleep disorders.
Users who are unable to make their daily payments face the risk of having essential functions of their phones disabled. This not only affects their ability to communicate but also hampers their access to important information and resources.
In a world where smartphones have become essential for various aspects of daily life, this can have a significant impact on an individual’s overall well-being.
Furthermore, the outrageous daily interest rates imposed by Easybuy can push individuals further into debt, making it nearly impossible to escape the vicious cycle. The burden of constantly worrying about repayments can lead to physical ailments such as headaches, high blood pressure, and even heart problems.
Screenshot of Threats and Bullying
As evidence of the unethical practices carried out by Easybuy Nigeria, screenshots of threats and bullying have surfaced. Users who are unable to make their payments on time are subjected to aggressive messages and calls, often containing intimidating language and threats of legal action.
These screenshots highlight the extent to which Easybuy is willing to go to extract money from its users. It is clear that their focus is solely on profit, disregarding the well-being and financial stability of their customers.
Additionally, the disabling of essential phone functions as a means of coercion is a clear violation of consumer rights. Users should not be subjected to such treatment simply because they are unable to meet the unreasonable demands of Easybuy.
It is crucial that the Nigerian authorities and consumer protection agencies take action against Easybuy Nigeria to prevent further exploitation of vulnerable individuals. The company must be held accountable for its unethical practices and the harm it has caused to its users.
EasyBuy Nigeria Tactics Of Debt Recovery
Asides disabling some key functions and apps on your phone, Easybuy also threatens their users with Legal actions. The company goes as far as impersonating some legal and government entities to install fear in the hearts of it users.
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Another tactics under the company’s selves is the act of calling their victims contacts and telling these people to stay away from their victims as the individual is a fraud and has defrauded their company and has ran away, not minding the effects of those calls and still adding their ungodly interest.
Users has reported excommunication from families and social groups and job lose due to the calls put across by Easybuy on phone loans that are just 3 days overdue. Facebook groups has been created by victims of this company and testimony has been pouring in. One of the group having more than 85 thousand members is a clear sign how far this companies evil has gone.
What Can Be Done
Have seen the effects of Easybuy phone installment loan and it’s loan services in general, we would be collaborating with other bodies to bring this to the notice of the authorities. We would also be putting out detailed article on how to avoid and report the Easybuy App on Google Playstore, and also report all illegal activities to the authorities.
Our top priority is to safeguard Nigerians from the grips of this Phone / loan shark and make sure their activities are checkmated by the authorities and if not addressed, their app removed from the Google Play Store.
Conclusion
Easybuy Nigeria loans are far from being the convenient solution they claim to be. The hidden charges, exorbitant interest rates, and unethical practices employed by the company make these loans more disastrous than good. It is essential for individuals to be aware of the risks associated with Easybuy and explore alternative options that prioritize their financial well-being and overall peace of mind.
If you’ve been harassed by Easybuy or any other Loan app or service, report to the authorities HERE
Or report the their app on Google Play Store Here
