• 

  Renmoney

  Category: Safe Loan

  Interest rate: 28%

  Let's dive into Renmoney and what you need to know about borrowing from them.

  First off, Renmoney is a legit and approved loan provider. That means they're all above board and have the necessary permissions to operate. You can trust them to handle your loan responsibly.

  Now, here's the good news: Renmoney won't tarnish your reputation. They're not in the business of defaming their customers, so you won't have to worry about receiving any embarrassing messages from them.

  But, and here's the important bit, if you default on your payments, Renmoney won't hesitate to report you to the authorities. So, it's crucial to stay on top of your repayments and honor your commitments.

  Speaking of repayments, Renmoney's overdue interest rates are pretty reasonable. However, if you've already paid off the capital and initial interest, you have the option to skip the overdue interest. Just make sure to clear your dues on time to avoid any issues.

  Now, here's a golden rule: never borrow from one loan app to pay off another. It's a recipe for disaster and will only land you in more trouble. Instead, only borrow from Renmoney when you have the means to repay, and spread your payments over several months if needed. Just make sure you stick to your repayment plan and pay them what you owe.

  For added peace of mind, consider installing Truecaller on your phone. This handy app can help you screen calls and avoid Renmoney's calls if you're not in the mood to chat.

  So, there you have it. Renmoney is a trustworthy loan provider, but it's essential to borrow responsibly and honor your commitments. With the right approach, you can make borrowing from Renmoney work for you.

• 

  Branch

  Category: Safe Loan

  Interest rate: 21%

  Branch Loan App is a safe lending platform approved by the Federal government. They prioritize customer privacy and won't contact your phone contacts or guarantors. However, it's crucial to repay overdue loans promptly. Branch Loan App is a registered Microfinance Bank and can report unpaid debts to credit bureaus, which may harm your credit score. This could affect your ability to obtain loans from other financial institutions such as Banks in Nigeria, and rebuilding your credit score may take up to 6 months, even after repayment.

  If you have outstanding loans with Branch Loan App, consider repaying them at a comfortable pace. You can spread your payments over several months, such as ₦2,000 per month, depending on your outstanding balance. Avoid rushing to repay all at once to avoid undue pressure.

  Always repay Branch Loan App in installments. Avoid borrowing from other loan apps to settle your debts, as this may lead to further financial difficulties.

• 

  Topchance

  Category: Dangerous Loan

  Interest rate: 45%

  If you're considering borrowing from TopChance or are already a borrower, it’s crucial to understand some key aspects of repayment and how to protect yourself. Here’s what you need to keep in mind:

  1. Unregistered Loan App

  TopChance is not a registered loan provider, which means they may not adhere to the legal guidelines and regulations set by authorities. This could result in unethical practices, so it's important to be cautious when dealing with them.

  2. Derogatory Messages to Contacts

  If TopChance has sent offensive or disrespectful messages to your contacts, do not panic. While this behavior is both harmful and embarrassing, it is often used as a tactic to collect repayment through fear and pressure. Do not feel obligated to repay them under such circumstances. You can tell them you're prepared to handle the matter in court if they ask for repayment.

  3. Defamation and Reputational Damage

  If your reputation has already been tarnished by derogatory messages from TopChance, repaying them will not undo the damage that’s been done. At this point, the harm has been inflicted, and paying them back may provide little benefit in restoring your reputation.

  4. Install TrueCaller for Spam Protection

  To help identify and block unwanted calls from TopChance, you can install the TrueCaller app. This app identifies and blocks spam calls, providing a layer of protection from harassing calls.

  5. Block Auto Debit from Your Bank Account

  To prevent TopChance from automatically debiting funds from your bank account, it’s essential to block your bank card. Simply visit your bank and request a new card to prevent any unauthorized deductions.

  6. Block and Report on WhatsApp

  If you are receiving harassing messages from TopChance on WhatsApp, block their contact. In addition to blocking, you should also report them to WhatsApp so the platform can take action against their account and alert others about their behavior.

  7. Report to App Stores

  If TopChance is listed on the Google Play Store or Apple iOS Store, report the app to the store. By doing so, you’re helping others become aware of their harmful behavior, and it may even result in the removal of the app from these platforms.

  Protect Yourself from Unethical Practices

  Taking these actions can help protect you from further harm or harassment by TopChance. Whether it's blocking calls, auto-debits, or taking legal steps, you have the power to safeguard your financial well-being and reputation.

---

Step by step guide to break free from loan apps

---

What you should know

• 

  Any loan sharks that defame are never linked to the credit bureau in anyway and all they say to you are lies.

• 

  Loan shark money cannot help solve anybody matter to better 40% - 70% in 7 days, they are simply misery compounders!! Do away with them.

• 

  Loan Apps major aim is to make outrageous profit from people and render people bankrupt. Dont be a victim

---