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I took a loan from Mwananchi Credit. They gave me a logbook loan of Ksh 1.2 million. I was to pay the loan for 24 months. After one year, I found myself paying over Ksh 1.2 million and by the time I was finishing repaying the loan,they had taken my Ksh 4 million. Interest was more than 100%. I was bitter,I felt like I was robbed. My experience with the company was not good and I had nobody to complain to. When I asked about the interest rate,they threatened to sell my car if I don’t pay all the money they asked for. They didn’t leave me to breath at all.
All I want to know is whether all of you face the same situation. How was your experience with the company?
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