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Bank Of Ghana Issues Big Warning To Qwikloan Defaulters To Pay Their Debts Or Face Their Wrath

Today, the Bank of Ghana has released a warning note to individuals who have refused to pay back their Mobile Money debts.

According to BoG, they stated that some individuals have deliberately declined to partake in the current sim card registration exercise because of the debts they have accumulated on their sim cards.

The release thereby warned such people to go and register their sims or else they will face the consequences of their actions. They indicated that persons who failed to pay their loans could be denied the chance to take loans from other financial institutions in future because they will indicate in the credit history of such people that they are not trustworthy.

Below is what the report says;

"The attention of the Bank of Ghana has been drawn to some individuals who have acquired loans through mobile money platforms but have deliberately refused to register their SIM cards under the ongoing national SIM Card registration exercise, with the intention of avoiding repayment of the acquired loans.

"Bank of Ghana wishes to inform the general public that data on all mobile money loan customers are domiciled in the databases of credit bureaus. As a result, failure to repay such loans will attract negative repercussions on borrowers' credit reports/history and could subsequently adversely affect any chance of obtaining loan facilities from other financial institutions and credit providers in future.

"Borrowers who have discarded their SIM Cards are advised to contact their telecommunication service providers or respective lenders, to discuss repayment arrangements to avoid adverse information on their credit reports, that could deny them access to future credit facilities."

Content created and supplied by: Reliable-blogz (via Opera News )

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