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  Nigeria Loan

  Category: Dangerous Loan

  Interest rate: 42%

  Here's the scoop: once you borrow money from them, they start sending SMS to everyone in your contacts saying you owe them money. It's embarrassing and can cause a lot of trouble.

   

  And it doesn't stop there. If you're just one day late on your payment, they flood your WhatsApp with all sorts of rude messages. It's not a pleasant experience, to say the least.

   

  Their repayment plans aren't easy either. They usually give you somewhere between 6 to 14 days to pay back, which can be really tough, especially with their high interest rates.

   

  Speaking of interest rates, if you're late on a payment, they hit you with a pretty hefty interest rate, sometimes as much as 5% per day! It's a recipe for getting deeper into debt.

   

  Now, here's the kicker: they're not even licensed! They can't legally do much to you besides trying to ruin your reputation by spreading lies about you.

   

  Whatever you do, don't make the mistake of borrowing from another loan app to pay them back. It's a cycle that'll leave you broke. Plus, they've got tons of different apps out there, so you might end up borrowing from them again without even realizing it.

   

  Here's a tip: download Truecaller on your phone. It helps you see who's calling so you can avoid their calls and block them from contacting you.

   

  But honestly, the best way to deal with these loan sharks is to stop borrowing from them altogether. Block them on WhatsApp, report them on WhatsApp and Google Play store, and just cut ties with them for good.

   

  Remember, you were doing just fine before they came along. Don't let them ruin your reputation or your peace of mind. It's not worth it.

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Step by step guide to break free from loan apps

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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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