Expert Review
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Palmpay
When considering loans from PalmPay, it’s crucial to be aware of the following practices:
1. Broadcasting Your Debt
PalmPay may not hesitate to inform your contacts via SMS about your outstanding debt. This tactic is aimed at putting pressure on you to repay quickly.
2. Harassment on WhatsApp
If you're even a day late on repayment, you can expect to receive a barrage of aggressive messages through WhatsApp. This can be overwhelming and adds stress to an already difficult situation.
3. Tight Repayment Window
PalmPay typically has short repayment periods ranging from 6 to 14 days, making it challenging to meet deadlines and manage your finances effectively.
4. High Interest on Overdue Payments
Overdue payments can incur high interest rates that escalate quickly, ranging from 1% to 5% per day. This can lead to a rapid accumulation of debt, making it difficult to regain control of your financial situation.
5. Reputation Over Debt
Once PalmPay starts defaming you, simply repaying the debt may not restore your reputation. Their actions can tarnish your name long after the debt is settled.
6. Unlicensed and Defamatory Tactics
Even if PalmPay operates without proper licensing, their primary strategy often relies on defamation—a cheap and unethical way to compel repayment.
7. Avoid Borrowing from Other Loan Apps
Refrain from borrowing from other loan apps to repay PalmPay. This can trap you in a vicious cycle of debt that becomes increasingly difficult to escape.
8. Block Their Calls
Utilize apps like Truecaller to identify and block persistent calls from PalmPay. This can help reduce stress and interruptions in your daily life.
9. Break Free
The most effective solution is to stop borrowing from PalmPay entirely. Free yourself from their cycle of debt and regain control over your finances.
10. Take Action
If PalmPay engages in unscrupulous behavior, don’t hesitate to block them on WhatsApp and report their actions to WhatsApp and the Google Play Store.
11. Stay in Control
Remember, you were managing your finances just fine before PalmPay entered the picture. Don't let their tactics damage your reputation or drain your finances. Take charge of your financial future today!
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PALMPAY FLEXI CASH
Here’s what you need to be aware of:
Broadcasting Your Debt: They won't hesitate to notify your contacts via SMS, alerting them about your debt.
Harassment on WhatsApp: Be prepared for a barrage of harsh messages if you're even a day late on repayment.
Tight Repayment Window: Their repayment periods are typically short, ranging from just 6 to 14 days, making it difficult to meet deadlines.
High Interest on Overdue Payments: Their overdue interest rates can escalate fast, anywhere from 1% to 5% per day, which can quickly sink you deeper into debt.
Reputation Over Debt: Once they start defaming you, paying them back won’t fix your reputation. They've already achieved their goal by tarnishing your name.
Unlicensed and Defamatory Tactics: Despite not having proper licensing, their primary strategy is defamation — a cheap shot to force repayment.
Don't Borrow from Other Loan Apps: Avoid the trap of borrowing from another loan app to pay them back. This will only lead you into a vicious cycle of debt.
Block Their Calls: Use apps like Truecaller to identify their numbers and block their relentless calls.
Break Free: The best solution? Stop borrowing from them entirely and free yourself from the cycle.
Take Action: Block them on WhatsApp, and don’t hesitate to report their unscrupulous behavior to WhatsApp and the Google Play Store.
Stay in Control: You were managing just fine before they came along. Don’t let their tactics harm your reputation or drain your finances.
Step by step guide to break free from loan apps
What you should know
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Any loan sharks that defame are never linked to the credit bureau in anyway and all they say to you are lies.
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Loan shark money cannot help solve anybody matter to better 40% - 70% in 7 days, they are simply misery compounders!! Do away with them.
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Loan Apps major aim is to make outrageous profit from people and render people bankrupt. Dont be a victim
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