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  Copay

  Category: Dangerous Loan

  Interest rate: 49%

  So here's the scoop: once you borrow from them, they start sending texts to everyone in your contacts, saying you owe them money. It's embarrassing, trust me.

   

  And it gets worse. Miss your payment by just one day, and they flood your WhatsApp with all sorts of nasty messages. Not fun at all.

   

  Their repayment plans? Tough as nails. Usually, they give you between 6 to 14 days to pay back, and let's be real, it's not easy.

   

  Now, brace yourself for the interest rates. If you're late, they hit you with a hefty interest rate, sometimes as high as 5% per day! It's a recipe for more debt.

   

  Here's a crucial tip: don't pay them back if they start defaming you. They've already got what they wanted once they tarnish your name.

   

  And get this, they're not even licensed! All they can do is spread rumors about you. Pretty low, right?

   

  Whatever you do, don't borrow from another loan app to pay them off. It's a slippery slope that'll leave you broke. Plus, they've got tons of apps out there, so you might end up borrowing from them again by accident.

   

  Pro tip: download Truecaller on your phone. It helps you see who's calling so you can dodge their calls and block them from reaching you.

   

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

   

  Remember, you were managing just fine before they showed up. Don't let them ruin your reputation or your peace of mind. It's just 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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