Get quick loans to meet your urgent needs

We value and reward loyalty and consistency

Exclusive interest free loans for our VIP customers

We work with you, for you, and never against you

Whether you need N50,000 tomorrow or an urgent N2,000, Irorun is the best loan app to provide that instant relief.

We value our customers and want to continue to help you meet your needs. As you continue to repay your loans from Irorun, you will have access to higher loans up to N50,000 with the lowest interest rates in the market. We also offer gifts on your birthday and for referring other users to sign up and get a loan.

We recognize our most loyal customers by offering them exclusive benefits, including 0% interest on urgent loans for a short period.

With only a few clicks on your smartphone, you can
pay all of your bills and top up your airtime at the
lowest possible cost.

We will never misuse your data, resort to shady debt collectors, or harass your friends and family. If you are having issues with your repayment just reach out to us. We are always here to help.

In the lending industry, there are concerns about legal and ethical boundaries regarding loans. These concerns arise when borrowers are don’t make timely payments of their loan.

In Nigeria today, numerous lenders have maligned individuals who defaulted on personal loans, going beyond the usual reports to the credit bureau.***

Lenders should not engage in such unethical actions, but when they do, they often escape accountability because borrowers are unaware of their rights, including their repayment terms.

Today, we address the issue of lenders slandering loan defaulters, focusing on what borrowers themselves can do in such situations.

## Document the slander
A lender with malicious intentions is likely to start throwing threats around in hopes of damaging your reputation. They may go as far as carrying out these threats; sending derogatory messages to your phone contacts, unsavory posts about you on social media platforms. etc

If you ever find yourself in such a dilemma, here’s what you should do: meticulously record all derogatory messages (or images) sent to you or posted online by any means. This includes details like loan amounts, credit scores, and credit reports if relevant. Capture them as a screenshot or screen record, but make sure to have it stored. This will serve as your evidence in case the situation escalates further.

## Review the loan agreement
Revisit the loan terms and agreement, and read it thoroughly. Carefully examine the fine print for any hidden details that might allow the lender to commit slander.

Check for any clause related to communication and dispute resolution, this can help create a strategy on how you can approach the lender with complaints about their ill-treatment.

## Contact the lender
Now that you’ve read the fine print, you are armed with everything you need to confront the lender and control the situation. Note that control does not equal aggressiveness. Going at your lender aggressively would only mean they’d reciprocate with the same energy.

Address the issue calmly. Seek clarification on their reasoning for posting derogatory content or the agreement terms allowing such actions. Request for the removal of all derogatory content and rebuttal of all slanderous statements.

## File a complaint
Working things out with the lender does not make the issue settled, contrary to popular belief. Regardless of a resolved issue, we strongly advise that you report the lender to the proper regulatory bodies (credit bureaus, FCCPC***) overseeing financial institutions especially if the lender’s actions go against industry standards as they may continue to carry out the acts with other unsuspecting borrowers. Be your brother’s keepers.

## Seek legal advice and redress
Consult legal advice to understand your rights as a borrower***; this can help you build a solid case of slander against the unethical lender. Even if the lender repents, your reputation has already been tarnished, and slander can negatively impact various aspects of your life.

While lenders have the right to report defaulters to credit bureaus, slanderous actions are not legal. Upholding legal and ethical standards in debt collection is very important, if at any time you feel violated by a lender’s actions don’t hesitate to follow the steps above and see redress.

As always, you’re safe with Irorun as your ethical lender. Send us a message now at support@irorun.com and let’s get you started with the right loan.

Is it legal for lenders to slander loan defaulters


Do you have a [good credit score?](https://www.cnbc.com/select/what-is-a-good-credit-score/)

Or you don’t want to talk about it…

A credit score is a three-digit number, typically issued by a credit bureau, that helps lenders to determine your creditworthiness. Credit scores are generated to reflect the credit risk associated with borrowers; basically, the probability that you will repay the loan.

The higher your credit score, the better. A good credit score helps you get lower interest rates, puts you on the best loan terms with lenders, increases your chances of securing a larger loan and overall increases your creditworthiness.

And that’s why Irorun is bringing you easy and fast ways to boost yours today!

## Start with small loans
Now you have to know that a credit score does not just show up out of nowhere. To get one (or to begin the process of building one) you have to take out loans.

“But I thought I can not get loans if I do not have a credit score?”

No, no, You can not get LARGE LOANS if you do not have a good credit score or no credit score at all. That is why you have to start with small loans, little amounts that should give you no trouble while paying back. (Remember, the goal here is to boost your credit score).

Furthermore, you can sign up with AUTHORIZED and ETHICAL lenders like Irorun that you can apply for small loans from, without hassle, repay in no time at all and this helps to boost your credit score. (What are you waiting for?).

## Make repayments on time
As much as taking out loans helps to boost your credit score, it doesn’t mean much if you refuse to make repayments on time, your credit score is bound to go lower if you keep on making late repayments and this is one way you can boost your credit score faster.

Your credit score helps to determine your creditworthiness, so doing right by your loan and making your repayment on time will give you a reputation as a very good borrower as well as boost your credit score. It’s for this reason, that if you are unable to make your repayments on time, inform your lender before the due date so that renegotiation can be made (Amaka don’t run away with our money).

## Avoid round-tripping or sweeping
Your money story nor clear finish –Your lender.

Round tripping or sweeping is that fishy process where one immediately withdraws or transfers money that comes into one’s account the moment it arrives usually to places where their spend pattern cannot be analyzed (Egbon it’s giving yahoo-yahoo).

Your lender likes being able to see through your bank statement to get a read on what your spend and gain pattern looks like(A.K.A wetin dey chop your money and wetin dey give you money).

So a bank statement that simply contains credit and then an immediate debit does not look good. It seems sketchy, doesn’t it?

This can cause you problems with your bank and affect your credit score because that account’s bank statement cannot be used to properly assess your eligibility for a loan.

## Avoid negative account balance
There are times when your account balance reads its lowest or does not have enough for what you need so you decide to take an overdraft (this in and of itself holds no issue), a problem pops up when you are unable or refuse to pay that overdraft and your account ends up reading in the negative.

Remember that an overdraft is still a type of loan that banks give and that a refusal or inability to pay lowers your credit score.

In the same sense, banks also have a habit of taking their charges from your account even though it reads almost empty, this puts it in the negative and thus affects your credit score.

## Check for error and report any mistakes on your credit report
A credit report is a record of a borrower’s credit history from different sources e.g banks, credit card companies, government agencies etc…

You must be wondering how you can get yours?. The good news is that you’re eligible to get one free credit report per year, and you can get yours when you apply with [First Central](https://firstcentralcreditbureau.com/), [CRC](https://www.crccreditbureau.com/product/crc-self-enquiry?coupon=FREEREPORT&ref=_home) or [CreditRegistry](https://creditconnection.creditregistry.ng/).

An instance where you identify an error on your credit report, you must immediately contact the credit bureau with your details;

1. Your full name
2. Phone contact
3. BVN
4. Gender
5. Evidence of payment
6. Letter of non-indebtedness

As long as you’re able to prove that you’re not indebted to any lender, you can [repair you history with the credit bureaus](https://medium.com/@Theirorunapp/how-to-repair-your-history-with-the-credit-bureaus-c5ffd45a52f2).

As a rule of thumb; Request for your credit report at least once a year, check for errors and report accordingly so that the proper corrections can be made to prevent future grievances with your lender.

…

Now, you know how to boost your credit score. Don’t you think it’s time to start with the first step?

Reach out to us at support@irorun.com to get started on your first small loan that’ll take you to LARGER LOANS!

How to boost your credit score

Have you found yourself in a fix and can’t seem to pay back that loan you owe?

Is your lender hounding you to pay off your outstanding debts?

We understand your first instinct may be to hide and play coy with your lender. But here’s the truth of it all; YOU’RE MAKING IT WORSE!

We understand your plight and have done the work for you. Keep reading to find out what to do when you struggle to pay back that loan

## Assess your financial situation
A lot of people struggle with loan repayment and end up defaulting, mostly because they may be dealing with some financial crisis that affects their loan repayment.

The first step to be taken to fix this is to assess your financial situation. This may not seem important at first, but if one takes the time to look at their current income level and stability, and analyze their monthly expenses. They’ll find areas where one can cut costs to allocate for loan repayment.

As we always say, it’s important to know where you stand financially. It helps you come up with effective solutions to manage your loan payments. This means assessing your available funds and making practical decisions for repaying your debts.

## Communicate with your lender
Don’t ghost your lender! It’ll do you more harm than good. Regular communication with your lender when you’re experiencing difficulties with loan repayment is necessary. Discussing openly with your lender can clarify your loan management options.

This includes learning about potential repayment plans, negotiating revised loan terms, and exploring temporary relief options. Communicating with your lender promptly can help you avoid penalties, protect your credit score, and establish a more manageable repayment plan that fits your current financial situation. Lenders are often willing to work with borrowers who demonstrate a genuine intention to fulfill their obligations.

## Explore loan restructuring options
Now that you’ve communicated with your lender, exploring the loan restructuring options given to you is the next step. Loan restructuring involves considering various alternatives such as loan modification, consolidation, extended repayment plans, or income-driven repayment plans. Each of these options offers you unique benefits and considerations that can be tailored to your specific needs and financial situation.

This is why we keep doubling down on early communication with your lender; discuss the available options, and evaluate their implications in terms of interest rates, repayment terms, and overall financial impact. This helps you find the best solution for your situation and manage your loan repayment effectively.

## Explore additional income stream
We all need the extra income and that’s why obtaining secondary sources of income can be very helpful when one struggles with loan repayment. Seeking out opportunities for side jobs, freelancing etc can increase one’s overall cash flow.

Additionally, one can also start an online business or consider part-time employment to provide extra income that will be strictly allocated towards loan payments. Trying out these options can make it easier to meet your loan obligations with ease.

## Strict budget and payment plan
One who fails to plan, plans to fail.

This holds true for money matters as well. This is why we consistently preach the gospel of good budgeting. A strict budget and payment plan is just what any loan defaulter needs to fix their loan repayment struggles.

By making use of a budget, one can carefully manage their income and expenses, allowing them to allocate funds towards loan payments effectively.

This involves tracking income sources and analyzing expenses to find ways to cut costs and free up money for loan repayment. With a structured payment plan, the individual can set up a clear schedule for timely, consistent payments to their lender.

Following this plan helps you control your finances, stay on top of loan repayments, and achieve your financial goals.

... 

If you’re having difficulty paying back that loan and would want to ask more questions, send us a message at support@irorun.com and we’ll get you back on track!

What to do if you struggle with loan repayments?

“Just because it’s been said many times by many people doesn’t make it true”

And that’s why today, we’ll be debunking six(6) loan myths.

Let’s get to it!

## Loans are only offered by banks
Maybe in the early 1800s, this was true. The myth that banks are the only financial institutions that provide loans to individuals has been debunked a million times over.

While banks are among the financial entities that provide loans, there are several registered and recognized non-banking financial companies (NBFCs) that provide loans to individuals such as microloan companies, digital lenders, credit unions etc.

## Low credit score means loan rejection
Although a poor credit score may affect the outcome of your loan application, it doesn’t ensure that your loan application will be denied.

Although your credit score is highly considered for a loan to be approved, other factors come into play. For example, lenders will also consider your age, income, the authenticity of your documents, your debt-to-income ratio, and other variables before deciding whether to approve or reject you. Here’s how you can boost your credit score.

## Only salaried persons can apply for loans
It’s a common misconception that only salaried individuals who have a steady flow of income are eligible to apply for loans and this isn’t true.

Non-professionals, business owners, and anyone with a form of income may also apply for loans. As long as they meet the eligibility requirements of the lender, both salaried and non-salaried persons can and should apply for loans.

## Digital lenders are scammers
Another loan-related myth that has been dispelled but always rears its ugly head is the idea that all digital lenders are scammers and should never be trusted.

Loan scammers are unregistered and unethical lenders. They are unauthorized and yet always find ways to take advantage of unsuspecting individuals. But here’s the good part, If you exercise due diligence and verify a prospective lender’s legitimacy before applying for a loan, you won’t fall victim to these scammers. And on that note, here’s how you can spot a loan scammer.

## Loan application is complex
Decades ago, this was true. Now, the process of getting a loan is easier than ever. All thanks to the technology of digital lenders

The age-long misconception that you must wait weeks or even months for your loan application to be processed is now a myth. Nowadays, obtaining a personal loan is as simple as filling out an online form and waiting a few minutes to a few hours for a response.

## Loans always have high-interest rates
A large majority of loans these days don’t require collateral, so it’s believed that they will have very high-interest rates, and this tends to put off people from applying for loans.

In reality, the interest rate varies from lender to lender and usually depends on your credit score and many other factors. Interest loans can be as small as 3% or as large as 40%. There are no hard and fast rules to it. The factors that come into play are the determinants of interest rates.

…

If you have further questions or would like to get on board your first Irorun loan, send us a message right now at support@irorun.com!

6 loan myths that have been debunked

Irorun is your go-to instant loan app in Nigeria for immediate relief. Need {{amount}} today? 

Apply now and enjoy the fastest service available.


Get {{amount}} for {{period}} {{period_type}} Instantly for Your Urgent Needs



Sign up to Irorun and get an {{amount}} loan for {{period}} {{period_type}} to meet your immediate needs without documents or collaterals. Get disbursed in minutes.

Get ₦20,000 for 30 Days Instantly for Your Urgent Needs

Irorun Blog

Is it legal for lenders to slander loan defaulters

How to boost your credit score

What to do if you struggle with loan repayments?

6 loan myths that have been debunked

Download now