Expert Review
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MIGO
Migo is a secure lending platform approved by the Nigerian government, designed to offer quick and convenient loans without compromising customer privacy. Unlike some other loan apps, Migo ensures that your phone contacts or guarantors will not be contacted during the lending process. They prioritize your confidentiality and data protection.
However, it’s essential to manage your repayment responsibly. Failing to repay your overdue loans on time can result in Migo reporting unpaid debts to credit bureaus. This could damage your credit score, affecting your chances of getting loans from banks or other financial institutions in Nigeria. It can take up to six months to rebuild your credit score, even after settling the debt.
Flexible Repayment Approach: If you have an outstanding balance with Migo, it’s wise to repay at a comfortable pace. You can opt for monthly installments, such as paying ₦2,000 per month, depending on your total loan amount. This will ease the pressure and help you stay financially stable without rushing to pay everything at once.
To avoid further complications:
- Always repay your Migo loan in installments.
- Refrain from borrowing from other loan apps to pay off your Migo loan, as this can lead to a cycle of debt.
By staying consistent with manageable payments, you can protect your financial health and maintain a good credit standing
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What you should know
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Any loan sharks that defame are never linked to the credit bureau in anyway and all they say to you are lies.
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Loan shark money cannot help solve anybody matter to better 40% - 70% in 7 days, they are simply misery compounders!! Do away with them.
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Loan Apps major aim is to make outrageous profit from people and render people bankrupt. Dont be a victim
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