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Motomoto
#1 Posted : Saturday, November 02, 2019 5:39:16 AM
Rank: Member


Joined: 11/18/2010
Posts: 503
Location: Kenya
If I default on KCB mpesa or Tala or opesa payment,
1. Does the loan still continue accruing interest while listed at CRB?
2. Apart from not being able to get loans, is there another punishment the default suffers?
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Bigchick
#2 Posted : Saturday, November 02, 2019 5:57:34 AM
Rank: Elder


Joined: 2/8/2013
Posts: 4,068
Location: At Large.
Motomoto wrote:
If I default on KCB mpesa or Tala or opesa payment,
1. Does the loan still continue accruing interest while listed at CRB?
2. Apart from not being able to get loans, is there another punishment the default suffers?



Interest continues to accrue at a higher rate than normal interest rate.

You will be unable to borrow,private debt collectors will be unleashed on you and you will loose all including your mattress.

Civil jail will also be waiting for you.
Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
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Spikes
#3 Posted : Saturday, November 02, 2019 8:13:39 AM
Rank: Elder


Joined: 9/20/2015
Posts: 2,811
Location: Mombasa
Bigchick wrote:
Motomoto wrote:
If I default on KCB mpesa or Tala or opesa payment,
1. Does the loan still continue accruing interest while listed at CRB?
2. Apart from not being able to get loans, is there another punishment the default suffers?



Interest continues to accrue at a higher rate than normal interest rate.

You will be unable to borrow,private debt collectors will be unleashed on you and you will loose all including your mattress.

Civil jail will also be waiting for you.


No clear civil law in Kenya regarding punitive measures on a defaulter. You will never be sent to jail because you failed your obligation to pay your debts.
John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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mkenyan
#4 Posted : Saturday, November 02, 2019 2:12:55 PM
Rank: Veteran


Joined: 4/1/2009
Posts: 1,883
Spikes wrote:
Bigchick wrote:
Motomoto wrote:
If I default on KCB mpesa or Tala or opesa payment,
1. Does the loan still continue accruing interest while listed at CRB?
2. Apart from not being able to get loans, is there another punishment the default suffers?



Interest continues to accrue at a higher rate than normal interest rate.

You will be unable to borrow,private debt collectors will be unleashed on you and you will loose all including your mattress.

Civil jail will also be waiting for you.


No clear civil law in Kenya regarding punitive measures on a defaulter. You will never be sent to jail because you failed your obligation to pay your debts.

you are wrong. bigchick is right. a little reading shall be of great help to you.
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AlphDoti
#5 Posted : Saturday, November 02, 2019 2:56:49 PM
Rank: Elder


Joined: 6/20/2008
Posts: 6,275
Location: Kenya
Bigchick wrote:
Motomoto wrote:
If I default on KCB mpesa or Tala or opesa payment,
1. Does the loan still continue accruing interest while listed at CRB?
2. Apart from not being able to get loans, is there another punishment the default suffers?

Interest continues to accrue at a higher rate than normal interest rate.

You will be unable to borrow,private debt collectors will be unleashed on you and you will loose all including your mattress.

Civil jail will also be waiting for you.

Those who charge interest, compounded interest, usury go to church on Sunday holding their "holy" book tightly under their arms and sing praise and worship! Sadly those in the bar believe what is written while them in church do not!

Usury or taking or giving interest is sin
"If you lend money... you shall not charge INTEREST" Leviticus 25:35-37
"He that... hath given forth usury, and has taken INTEREST; shall he live? He shall not live, he has done abomination, he shall surely die" Ezekiel 18:13
"You shall not charge INTEREST..., interest on money, food or anything that may be loaned on interest... you shall not charge interest so that your Lord your God may bless you" Proverbs 28:8
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thuks
#6 Posted : Monday, November 04, 2019 11:53:07 AM
Rank: Veteran


Joined: 10/8/2008
Posts: 1,575
AlphDoti wrote:
Bigchick wrote:
Motomoto wrote:
If I default on KCB mpesa or Tala or opesa payment,
1. Does the loan still continue accruing interest while listed at CRB?
2. Apart from not being able to get loans, is there another punishment the default suffers?

Interest continues to accrue at a higher rate than normal interest rate.

You will be unable to borrow,private debt collectors will be unleashed on you and you will loose all including your mattress.

Civil jail will also be waiting for you.

Those who charge interest, compounded interest, usury go to church on Sunday holding their "holy" book tightly under their arms and sing praise and worship! Sadly those in the bar believe what is written while them in church do not!

Usury or taking or giving interest is sin
"If you lend money... you shall not charge INTEREST" Leviticus 25:35-37
"He that... hath given forth usury, and has taken INTEREST; shall he live? He shall not live, he has done abomination, he shall surely die" Ezekiel 18:13
"You shall not charge INTEREST..., interest on money, food or anything that may be loaned on interest... you shall not charge interest so that your Lord your God may bless you" Proverbs 28:8


What is your view of Leviticus 25:28 which requires the 'return of purchased lands in the year of jubilee'?
I care!
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