Forum > Borrower Questions > ZIDISHA ARE THIEVES
I have been paying my loans promptly. yesterday I had a credit limit. today my credit limit is gone
I paid my loan of 260/- yesterday. I know very well my loan should increase my 150%.that makes it 650/-. why is my loan not increased as the zidisha said they should??rectify this error,in the mean time I will be contacting bloggers to air our plight since I am not the only one. the whole world shoukd know especially my Kenyan people how this zidisha is a fraud. how comes I pay my loan then later you remove my credit limit and don't increase my loan with 150% as it suppose to be increased???
Dear Sara, kindly be patience ok. Dont speak like that. I checked your on time payment rate and is 0% and this made you not qualify for next credit increment. You must maintain a atleast 90% to 100% to qualify for increament. So On what bases are you saying zidisha is a thiefs? Do they take money from you or you take money from them? Just obey their rules and be free. So please never speak against zidisha ok. Thank you
lets all please keep calm. The early repayment bonus is back and I think this was a minor technical hitch
Hmmm the system must be upgraded. It has affected the one who invited me too.
The early repayment bonus is still there as my account still shows that I have received the early repayment bonus. Please be patient and Zidisha may rectify your problem on your end.
Dear Sarah Naibei,
Having gone through your loan profile, I have noted that you paid your loan early, that gives you 100% repayment record, BUT there is also an important requirement, that is you must hold the loan for a minimum period. This I think is used by Zidisha to deter those who might use "pay immediately" so as to have an increase in credit limit. Therefore its not a technical error, these are the rules and it started long time ago. You are bitter because Zidisha indicates your credit limit, but if you are keen below, they also indicate the earliest time this credit limit can come to force.
May be you could have sough for clarification first, zidisha always responds to any question.
I agree that there has been drop on credit limit arising from increase in loan holding period, this was not the case with you.
you seem to be know much than the others.if yourself u knw i have been paying my loan in time,why is my loan at 0% repayment rate? i have been paying my loan dutifully,why is it 0%????? again judge your comment
Hi Sarah, I have saw your profile and your first loan. Your payment on your first loan hasn't credited yet. ofcourse it is a bug. because you already raised loan for the third time. My assigned member asked me why zidisha didn't give him new credit limit when he already paid his loan dutifuly as schedule. At first I can only said that his ontime payment is 50% that's why his new loan didn't get raise; then I try to see all of his loan repayment and others payment loan who had said that their ontime repayment get decrease. All of them payed their loan ontime; yes some of them made big payment; paying more then 50% of their loan in one payment. I can only assume that zidisha having technical issue with a lot of borrower ontime repayment percentage. I'm sorry this is happen to you. I know it won't satisfied your disappoinment and help your problem. why don't you try to write support ticket about your decrease ontime repayment percentage. I'll help you by writing on mine about this too, because this is effecting a lot of borrower here.
From so many thread in the forum I can only assume that Zidisha is undergoing a lot of adjusment right now and it is effecting the others thing in the website.
this is my finding:
1. Delay disbursement till the loan got expired ( indonesia, Ghana maybe other country too)
2. Payment from the late loan not credited on the account, but the borrower already have another loan or in the proses raising loan.
3. Payment credited twice on borrower account when borrower actually only paying one installement.
4. Ontime repayment percentage borrower getting decrease when they paying their loan ontime.
maybe you have found another thing that need zidisha attention right now?
I'm sorry that this happen to you. lets write in our support ticket about it so zidisha will aware about this. Keep Fighting Sarah!
Translated by Google
Zidisha are not thieves. You should maintain your 90%+ for an increase.
Kindly, if you get a problem in your account, please raise a support ticket.
my repayment rate is 100%.as u can see my profile i pay my loans on time. the 0% repayment rate is also a technical problem in my profile. go check my profile with the payments then come judge your comment
As Stephen said, there seems to have been a technical error that made the details of the early repayment bonus disappear from the Current Credit Limit page, but this has now been corrected.
As your Current Credit Limit page also says (and it can be seen publicly by anyone on your loan page) your on-time repayment score is 0%. The reason is because it only counts the number of expected payments before the date you repaid the loan.
For example, with this one: goyimei.info/loan/purcha...
the first expected payment wasn't until Nov 27, but you already fully paid the loan back on Nov 21, so unfortunately that doesn't count towards your on-time repayment score.
If you'd fully paid it back on Nov 30, for example, it would have counted. It's still classed as on-time up to and including 10 days after the payment was expected. Anything after 10 days is deemed to be late.
So, with your new loan I would recommend waiting to make the repayment until a day or two after the first expected date.
In your case you don't currently need to hold the loan for a minimum amount of time because of the size it is, but in future you will if the loan size reaches the equivalent of $20.
Sorry about the problems. I understand it's frustrating with the number of technical errors, but we're regularly working to try and fix them.
Thanks for this information Dave. Need to pass this to others.
This info is nice and clear. Most people pay before the expected date. At least pay a day or two after the expected date.. awesome once again
It's certainly common that borrowers repay their loan before the first expected payment date, at least if it's a small loan - but that's not to their advantage.
In some ways that calculation can seem a little unfair, but the reason it's set up that way is to prevent people abusing the system by immediately repaying their loan and getting the 100% on-time repayment score and qualifying for large bonuses very quickly.
Of course the idea with borrowing money through Zidisha is not to instantly repay the loan to get bonuses, but to invest the money into your business, or whatever. So whilst you can repay at any time, the system's set up to reward people who repay in a more expected manner - not too late but also not too early.
Thanks Dave, this is better explanation then mine. I'm copying yours to explain anyone who ask me about their fast repaid loan.
Hi Sarah ,
Please be positive and patience pays. You have been well advised by many and hence I second them
All in all its very evident that the system need to be thoroughly checked.It has many bugs. There are many complains about loan limit due to that -10/+10 days thing and repayment schedule and also some people having more than one project current. Like my profile now has a current loan while I know my loan expired without being fully funded.
Hi Sarah, before we try and help you out of this I think you should apologize because referring us as thieves is unappropriate.
As for me Zidisha community has helped me reach where i am by the grace of God. ZIDISHA IS NOT COMPOSED OF THIEVES PLEASE.
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