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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.

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?


“I hear say those loan apps dey…”

We know you might have heard some hearsay about microloan(small loan) apps and you’re unsure if there are any good options left for you.

Today, [Irorun](http://irorun.com/) wants to clear the air and separate myths  from facts.

## Myth 1: You need a high credit score to get a microloan
It’s a well-known fact that you need to have a high credit score to qualify for a large loan but does the same apply to microloans? Many individuals seem to believe so and therefore shy away or believe that they are unable to take out microloans.

## Fact 1: You can get a microloan as a new borrower
Contrary to word on the streets, it can be said that microloans were made specifically with NEW borrowers in mind because of the ease of paying back. It also simultaneously caters to your needs and boosts your credit score. A double win right!

## Myth 2: Interest rates on loan apps are significantly higher
Some people get discouraged from using loan apps due to a multitude of reasons, one of which is the belief that interest rates tend to be higher when loans are taken out using the loan app.

## Fact 2: Loan apps provide flexibility of interest rates
Irorun would have you know that the interest rate on loans is determined by several factors including but not limited to loan amount and purpose. [The Irorun loan app provides](https://irorun.com/) flexible interest rates that ensure repayment is no hassle.

## Myth 3: Loan apps are illegal and/or fraudulent
Sadly, many have fallen prey to scammers disguised as microlenders and this has further increased the belief that loan apps are illegal and are working outside the law under pretenses. But can this be considered the truth about ALL loan apps?

## Fact 3: Lenders who are authorized, registered and ethical exist
“Two truths can co-exist”

Yes! Some malicious lenders work under pretenses to steal from others.

Yes! There are also AUTHORIZED and ETHICAL Lenders with a history of giving out loans, respecting borrowers’ privacy and maintaining good relationships ([Irorun](https://irorun.com/) is one of such).

Before you carry out any loan transactions with your prospective lender, please conduct proper investigations to determine their authenticity.

If you’ve had contact with an unethical lender, [here’s how you can report them](https://blog.lendsqr.com/how-to-report-lenders-for-unethical-practices/).

## Myth 4: All loan apps are the same
“A loan app is a loan app, it doesn’t matter if it has a different name” — Somebody who hasn’t tried [Irorun](http://irorun.com/).

The loan app ecosystem has had a lot of bad press due to the unethical practices of malicious lenders and so many believe that all loan apps are the same.

## Fact 4: Loan apps are not all the same
Despite loan apps having a general purpose of giving out loans, they are not all the same.

On one hand, some loan apps are hassle-free and take a small amount of time to work out their processes *coughs Irorun*. While on the other hand, others have a way of causing stress during repayments and hiding extra fees. *side-eye*

In the same light, not all loan apps offer the same opportunities; Some apps, like Irorun, offer microloans of #5,000–#50,000, while some offer large loans and others offer a mix of both.

## Myth 5: Loan apps steal your data and harass you when you can’t pay
Unfortunately, this is common with a lot of unethical loan apps. This behavior has built up the fear of taking out loans due to the belief that your data will be used to harass you and those closest to you.

## Fact 5: Ethical lenders will never breach your data privacy
Although this may sound cliché, [Irorun](http://irorun.com/) would like to apologize to any borrower out there who has been faced with the despicable unethical behavior of some lenders and also appeal to you that we would NEVER breach your privacy in any way or harass you and your loved ones.

We would like to assure you that there are ethical loan apps out there that would never cause you distress. [Again, you should know that you can always report unethical lenders who breach your privacy](https://blog.lendsqr.com/how-to-report-lenders-for-unethical-practices/).

…

We hope we’ve been able to dispel some of the myths held against microloan apps.

For more questions and assistance send us a message at support@irorun.com!

Myths vs. Facts of microloan apps

Hey there Rockstar! Today we’ve simplified the Irorun loan application process into 5 simple steps.

Come along let’s help you get your first loan:

## Set up your account
Visit the Irorun website and follow the prompts to either download any of the apps and sign up or just sign up directly on the web app. Once you are signed up successfully, you also need to do the following as they are mandatory requirements to apply for a loan:

## Update your address and also add the details of your next of kin
Add a government-issued ID card such as a drivers’ licence, international passport, etc.
Add a valid and active debit card. We usually accept only Mastercard or Visa debit cards
Now you’re ready to apply for a loan with Irorun.

## Apply for a loan
With the Irorun app installed on your device (or you may be registered on the web app), it’s time to get your first loan.

## Log on to your dashboard and click on the “Apply for a loan” icon.
- Fill out the application form: You’ll be shown an application form, in which you’re required to fill in your relevant personal data. For example, name, age, email address, valid ID card, bank verification number etc.
- Assess the form thoroughly and ensure you fill in the correct data.
- Submit loan application form.
- Complete the final verification process

Once you have submitted your loan request, it would be in pending status. You would then get an email from Irorun stating that your documents have been received, however, you would need to speak with the Irorun loan team to complete the final stage of verification. The number to call would be in the email sent by Irorun. This final stage is necessary to help us curb the issue of identity theft or lending to scammers using the identity of innocent and unaware individuals.

Please note that leaving a voicemail or voice message does not count as a call to the Irorun representative.

## Kindly wait for our feedback email
Once you’re done with the final stage i.e the phone call verification, look out for one final email with either an approval or denial of your loan request. This final email will only be sent to you if you have completed the phone call verification.

Kindly note that Irorun operates on an algorithm-driven database and this means that after your credit profile is vetted, you’re matched to the loan option that is the best fit for you.

…

For further questions and assistance send us a message at support@irorun.com!

A simple guide to the Irorun loan application process

Data being misused, misconstrued or mishandled often causes a jump scare and a few nightmares to anyone on the receiving end. As a result, most people often find themselves struggling with concerns regarding the accuracy and security of their data.

For example, many returning borrowers fear that there may be inaccuracies in their credit reports or that lenders may have reported inaccuracies to the credit bureaus. All of which could negatively impact their credit scores and overall creditworthiness

Some borrowers believe that the first time they borrow would be the last and so begin the search for a means to erase their data from the credit bureau’s database.

Unfortunately, complete erasure is just not possible. However, there are means made possible for borrowers to make alterations or modifications to certain aspects of their data.

And today, we’ll be teaching you how to go about modifying your information with credit bureaus.

## Confirm information correctness
First, you begin the modification process by reviewing your credit report from all three credit bureaus, it’s also advisable to get trusted individuals to help with the review.

Take the time to look over each entry, and pay close attention to personal information, account details, and any reported defaults. While simultaneously verifying whether the information accurately reflects your financial history.

If any discrepancies or inaccuracies are identified, you must gather supporting documentation to show as evidence to back your claims. This may include bank statements, payment records, or other relevant pieces of information.

## Dispute discrepancies
As part of the process, you have the right to challenge any information on your credit report that you perceive as inaccurate. This also includes any information that has become obsolete or irrelevant within the credit system.

After spotting discrepancies in the credit report, take immediate action to dispute the items with the respective credit bureau. This involves submitting a clear and concise statement detailing the specific inaccuracies or outdated information, along with any supporting document you may have. The credit bureau is then obligated to investigate your dispute and either verify, correct or remove the disputed information within a reasonable time frame.

Clear all pending debts and close unused accounts
When working to modify data with credit bureaus, you must be on your best financial behavior, and make a concerted effort to manage your financial profile by clearing all pending debts and closing unused accounts. This move reflects financial responsibility.

You can start by assessing your outstanding loans and prioritizing repayment based on interest rates.

At the same time, closing any unused accounts helps simplify your financial portfolio. When one closes dormant accounts no longer required, they present a more focused and controlled credit profile.

## Mend broken fences
Reach out to past lenders who’ve previously reported negatively to the bureaus and see if a resolution can be met. Lenders are obligated to report any default or issues with a borrower to the credit bureau. However, there’s no rule that says the reports cannot be cleared if the issue between lender and borrower is resolved.

Resolving issues with lenders and ‘mending broken fences’ helps when you try to modify data with the credit bureau. It shows trustworthiness and integrity on your part. It also further improves the look of your credit profile.

## Cease data sharing with third parties
Some shady lenders occasionally spam borrowers with unending calls and SMS messages in a bid to market their services. To curb a possible repeat, one has to first; properly vet who they choose to borrow from. Read more on how to spot responsible lenders. Secondly, put in a polite request with lenders you’ve transacted with to refrain from uncontrolled data sharing with third parties.

As always, we hope you’ve learnt a thing or two about how you can modify your credit profile with the three credit bureaus. Send us a message at support@irorun.com and let’s get you a loan from a reputable and ethical lender.

Can my details be modified or erased from the credit bureaus?

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Irorun Blog

What to do if you struggle with loan repayments?

Myths vs. Facts of microloan apps

A simple guide to the Irorun loan application process

Can my details be modified or erased from the credit bureaus?

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