Expert Review
-
Frimoni
Protect Yourself When Dealing with Unregistered Loan Apps: A Guide for Frimoni Users
If you're managing loans from unregulated loan providers like IMoney, it's essential to understand certain key aspects of repayment and how to safeguard yourself. Here’s what you need to know when dealing with such platforms:
1. Unregistered Loan Apps
IMoney is not a registered loan app, meaning it does not adhere to the legal guidelines set by Nigerian financial authorities. This lack of regulation can lead to unethical practices, so proceed with caution if you're involved with such services.
2. Dealing with Derogatory Messages to Your Contacts
If IMoney has sent offensive or embarrassing messages to your contacts in an attempt to pressure you into repayment, do not panic. While this tactic is harmful, it’s a strategy used to coerce borrowers. You are not legally obligated to repay under duress. If they persist, calmly inform them that you’re ready to address the matter in court, which often dissuades further harassment.
3. Defamation and Reputational Harm
If your reputation has already been damaged by IMoney through defamatory messages, repaying them will not necessarily undo the harm caused. Once your reputation is affected, the damage is done, and paying them back may not restore it. Focus on protecting yourself from further harassment instead.
4. Install TrueCaller to Block Spam Calls
Install the TrueCaller app on your phone to help identify and block spam calls, including any harassing calls from IMoney. This app provides an extra layer of protection against unwanted contact.
5. Block Auto Debit from Your Bank Account
To prevent IMoney from automatically withdrawing money from your bank account, it’s essential to block your bank card. Visit your bank and request a new card to ensure they can't access your funds through auto-debit.
6. Block and Report on WhatsApp
If IMoney contacts you via WhatsApp, block their number to stop receiving their messages. Additionally, report their number to WhatsApp to alert the platform about their behavior, which may lead to their account being flagged or suspended.
7. Report the App to Google Play or iOS App Store
If IMoney is listed on the Google Play Store or iOS App Store, report the app to the platform. This not only helps alert other users to their unethical practices but may also result in the removal of the app from these stores, protecting future borrowers.
Take Action to Protect Yourself
By following these steps, you can safeguard yourself from further harassment and protect your finances. Whether it's blocking calls, reporting the app, or preventing unauthorized withdrawals, you have control over how to respond to unethical loan providers like IMoney.
Remember, Frimoni provides a safe and transparent loan process, so you can avoid these pitfalls with our reliable service. Always choose trusted, registered loan apps to protect your peace of mind.
-
Vibe Cash
Important Information for Vibe Cash Users:
Downloading the App Outside the Play Store:
If you downloaded the Vibe Cash app from outside the Google Play Store, you likely granted it access to your contacts by giving permission during installation. To protect yourself, it’s recommended to generate your own disclaimer by visiting:
Generate Your Own DisclaimerBeware of Loan Scams:
Before falling prey to loan agents in this or other groups, it’s crucial to be informed. Loan app agents are scamming people in Facebook groups. Learn how to protect yourself by reading more here:
Loan Shark Agents Scamming PeopleClearing Contacts from Loan App Databases:
No one can fully remove your contacts from loan apps' databases. For more information on whether it’s possible or not, check out this guide:
Clearing Your Contacts from Loan AppsIgnore Harassing Messages:
If loan agents have contacted your friends or family, don’t panic. You do not owe anything beyond the agreed loan terms. Focus on moving forward with your life.Unlicensed Loan Apps Are Powerless:
Loan apps that resort to harassment and defamation are not legitimate. They have no legal authority to harm you and rely on intimidation tactics.Contacts Can’t Save You:
Most of your contacts are aware of how shady loan sharks operate and won’t be able to assist you. Focus on protecting your financial integrity.Avoid Short-Term Loans:
Short-term loans with high interest rates (7-day terms) often lead to threats and defamation. If you need to borrow, always choose a licensed lender to avoid trouble.Debt Can Lead to Bankruptcy:
Taking loans from unregulated apps can devastate your finances, pushing you towards bankruptcy. The best way to protect yourself is to stop borrowing from these apps.Don’t Pay Overdue Interest:
If you’ve already paid off your principal and initial interest, ignore any demands for additional overdue interest from loan apps.Avoid the Cycle of Debt:
Taking out loans to repay others creates a never-ending debt cycle. Many loan sharks run multiple apps, pulling you deeper into financial trouble.Use Truecaller to Block Calls:
Install the Truecaller app on your phone to identify and block loan shark calls. Additionally, report them on WhatsApp and the Google Play Store.Break Free from Loan Sharks:
The only true way to escape loan sharks is by stopping the borrowing cycle. Remember, you lived fine before these loans. Don’t let them damage your reputation.Prioritize Your Financial Health:
Your financial well-being should come first. Loan sharks can jeopardize your future—don’t let them. Remember, your health and peace of mind are more valuable than anything. -
Nmoney
We will review the apps within the next 48 hours and provide detailed information and also do our background checks
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
What people are saying
Add a review
Your comment could save a life! Share your experience with loan apps and help others escape the clutches of Loan Shark Apps.
