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  LCredit loan

  Category: Dangerous Loan

  Interest rate: 35%

  Allow me to shed some light on LCredit and what you need to know to safeguard your financial well-being.

  To begin with, LCredit has a rather aggressive approach when it comes to debt collection. They won't hesitate to bombard every single one of your contacts with automated calls, making sure everyone knows about your outstanding debt. And if that's not enough, they'll also flood your WhatsApp with derogatory messages if you're just one day overdue. It's not a pleasant experience, to say the least.

  Now, let's talk about their repayment plans. LCredit typically offers repayment periods ranging from 6 days to 14 days, which can be quite challenging to meet. And to make matters worse, their overdue interest rates can soar as high as 5% to 7% per day, pushing you further into the abyss of debt.

  Here's a crucial piece of advice: once LCredit starts defaming you, don't even think about paying them back. They've already gotten what they wanted, and paying them won't make the derogatory messages disappear. Plus, since they're not licensed, they don't have much legal recourse besides tarnishing your reputation.

  Whatever you do, resist the temptation to borrow from another loan app to repay LCredit. They have a plethora of apps scattered across mobile app stores, so if you think you're escaping one debt by borrowing from another, think again. You'll only find yourself sinking deeper into financial trouble.

  To shield yourself from LCredit's relentless harassment, consider installing Truecaller on your mobile phone. This handy app can help you identify and block their calls, giving you some much-needed peace of mind.

  Ultimately, the best way to break free from LCredit's clutches is to stop borrowing altogether. It might not be easy, but it's the only way to avoid getting caught in their web of debt.

  Take care, and remember that your financial well-being is worth more than any loan. Stay vigilant, make wise borrowing decisions, and don't let LCredit or any other loan shark drag you down.

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  KashMore

  Category: Dangerous Loan

  Interest rate: 40%

  Loan apps might seem like an easy solution for quick cash, but they come with serious risks. Here are 10 essential tips to protect yourself when using online lending platforms:

  1. Brace for Aggressive Follow-ups if You're Late
     Even a slight delay in repayment can trigger a barrage of messages, often on apps like WhatsApp. If these messages become overwhelming, consider blocking the sender to protect your peace of mind.
  2. Resist Borrowing from Multiple Apps
     Taking loans from different platforms to cover existing debts can lead to a deeper debt cycle. Avoid this approach to maintain financial control.
  3. Beware of High Late Fees and Interest Rates
     Missing payments can lead to daily interest charges that range from 5% to 7%, causing your debt to grow rapidly. Try to avoid missing deadlines to prevent accumulating excessive interest.
  4. Only Download Apps from Official Stores
     Stick to trusted sources like the Google Play Store when downloading loan apps. Unverified sites can compromise your privacy, exposing you to cyber risks.
  5. Consider Safer Alternatives
     Many loan apps are structured to trap users in cycles of debt, impacting financial stability and privacy. Seeking out more secure and traditional financial options can help avoid these pitfalls.
  6. Watch for Short Repayment Periods
     Some apps set repayment terms as short as 6 to 14 days, making it hard to repay on time and often leading to debt traps. Ensure you’re comfortable with the repayment schedule before borrowing.
  7. Protect Your Privacy and Reputation
     Loan apps sometimes contact family or friends to pressure borrowers, potentially harming your reputation. For some, this is reason enough to avoid these apps entirely.
  8. Break the Borrowing Cycle
     The best way to escape high-interest debt is to stop borrowing altogether. While it might be challenging initially, taking a break from these loans is essential for financial recovery.
  9. Use Call-Blocking Apps Like Truecaller
     Apps like Truecaller allow you to screen and block unwanted calls from lenders, helping to reduce stress from persistent calls and messages.
  10. Report and Block Aggressive Contacts
      If you receive abusive or threatening messages on platforms like WhatsApp, block the sender and report them to both WhatsApp and the app store to help protect others from similar harassment.

  By following these guidelines, you can protect yourself from the risks of predatory loan apps and safeguard your financial well-being.

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  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.

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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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