Expert Review
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Cashtree
- They will send SMS messages to your contacts, claiming that you owe them money.
- Prepare yourself for an onslaught of unpleasant WhatsApp messages if you are even a day late.
- Their repayment schedules typically range from 6 to 14 days, making it extremely challenging to settle your debts.
- Anticipate daily overdue interest rates ranging from 5% to 7%, pushing you further into debt.
- Once they tarnish your reputation, there is no need to repay them. They have already achieved their goal.
- Since they lack a license, they are unable to pursue legal action against you. Their sole tactic is to damage your reputation.
- Avoid borrowing from other loan apps to clear your debts; this will only worsen your situation.
- Utilize Truecaller to screen and block their calls, sparing yourself unnecessary stress.
- The most effective way to break free from loan sharks is to cease borrowing altogether.
- Block them on WhatsApp and report them directly to WhatsApp and Google Play Store to prevent others from falling victim to the same scheme.
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ETF (MsCapital)
We will review the apps within the next 48 hours and provide detailed information and also do our background checks
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Borrow Now
Borrow Now isn't shy about letting your contacts know that you owe them money. They'll fire off SMS messages to anyone and everyone on your list. And if that's not enough, get ready for a flood of derogatory messages on WhatsApp if you're even just a day overdue. It's not a pleasant experience, to say the least.
Now, let's chat about their interest rates. Hold onto your hat because they're sky-high. Borrow Now charges anywhere from 5% to 7% per day for overdue payments. That's a hefty sum, and if you're not careful, it can quickly snowball into a mountain of debt.
Here's a word to the wise: once Borrow Now starts tarnishing your reputation, don't bother paying them back. They've already got what they wanted, and settling the debt won't make those derogatory messages disappear. Plus, since they're not licensed, they don't have much legal clout besides besmirching your good name.
Whatever you do, resist the temptation to borrow from another loan app to repay Borrow Now. They've got their fingers in many pies, so if you think you're escaping one debt by borrowing from another, think again. You'll only find yourself deeper in the red.
To shield yourself from Borrow Now's relentless barrage of calls and messages, consider installing Truecaller on your 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 Borrow Now's clutches is to stop borrowing altogether. It might not be easy, but it's the only way to avoid getting sucked into their vortex of debt.
Remember, your financial well-being is precious. So, stay vigilant, be savvy about your borrowing decisions, and don't let Borrow Now or any other loan shark drag you down.
Take care, and here's to a debt-free future.
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Zmoney
Not a loan app
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Ymoney
Let's dive into YMoney and what you need to know:
They might shoot SMS to your pals saying you owe them cash.
Prepare for all sorts of not-so-nice messages on WhatsApp as soon as you're a day late.
Their repayment window is tight, usually from 6 to 14 days. Tough, right?
Watch out for the extra fees if you're late. It can be anywhere from 1% to 5% per day and will only push you deeper into debt.
Don't rush to pay them off if they start spreading rumors about you. They benefit when they trash your rep.
Don't sweat it too much. These loan apps aren't licensed, so they're all bark and no bite. Defamation is their only weapon.
Whatever you do, don't borrow from another app to pay them. It's a never-ending cycle of debt. They've got tons of apps out there, so you might just end up borrowing from them again.
Grab Truecaller for your phone. It helps you screen calls and block their numbers.
The real fix? Stop borrowing altogether. It's the only way to break free from these loan sharks.
Block them on WhatsApp and make sure to report their shady tactics to WhatsApp and the Google Play Store.
Remember, you were doing just fine before these loan apps showed up. Don't let them ruin your life. You've got this!
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Cash mama
CashMama Loan Practices: A Cautionary Guide
Aggressive Communication Tactics: CashMama employs intrusive methods to pressure borrowers. They will send SMS messages to your contacts, falsely claiming that you owe them money. This not only invades your privacy but also creates tension in your relationships as your contacts may believe the misleading claims.
Unrelenting Social Media Harassment: If you fall behind on your payments by even a single day, brace yourself for a barrage of distressing messages on WhatsApp. Their aggressive tactics can lead to significant emotional stress as they inundate you with reminders and threats.
Short Repayment Periods: CashMama typically imposes repayment schedules that last anywhere from 6 to 14 days. This short window makes it exceptionally difficult for borrowers to manage their finances effectively and settle their debts without undue strain.
High Overdue Interest Rates: Be prepared for daily overdue interest rates ranging from 5% to 7%. These exorbitant rates can quickly accumulate, exacerbating your financial situation and leading you further into debt.
Reputational Damage: Once CashMama tarnishes your reputation, their primary goal is achieved, and they may no longer require repayment. The damage to your creditworthiness and personal relationships can have long-lasting effects, leaving you vulnerable in future financial dealings.
Lack of Legal Recourse: CashMama operates without a proper license, which means they cannot pursue legal action against you in case of non-repayment. Their only strategy is to undermine your reputation, relying on intimidation rather than legal means to collect debts.
Avoid Debt Cycling: If you find yourself in debt to CashMama, refrain from borrowing from other loan apps to pay them off. This approach can create a vicious cycle of debt, making your financial situation even more precarious.
Screening Calls for Peace of Mind: Utilize apps like Truecaller to identify and block calls from CashMama. This proactive measure can help you avoid unnecessary stress and intrusive communication.
Breaking Free from Loan Sharks: The most effective way to liberate yourself from the grip of loan sharks like CashMama is to stop borrowing altogether. Committing to a debt-free lifestyle can protect you from future financial predicaments.
Take Action Against Their Practices: Protect yourself and others by blocking CashMama on WhatsApp. Additionally, report their practices to both WhatsApp and the Google Play Store. This helps raise awareness and prevents other potential victims from falling into their deceptive schemes.
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SmartCash
Important Points to Consider When Dealing with SmartCash
Understanding how to handle repayment with SmartCash is crucial. Here’s what you need to keep in mind:
Unregistered Status: SmartCash is not a registered loan application. This lack of registration means they may not adhere to the legal guidelines and regulations established by financial authorities.
Inappropriate Communications: If SmartCash has sent disrespectful or offensive messages to your contacts, remember that this behavior is unacceptable and can be damaging. Don’t let their actions affect you; they have already profited from their tactics. If they demand repayment, inform them you’re prepared to pursue legal action.
Reputation Damage: If SmartCash has harmed your reputation by disseminating derogatory messages, paying them back might not mitigate the damage. Once your reputation has been compromised, repayment may not be the solution.
Install TrueCaller: Consider downloading TrueCaller, an app designed to identify and block spam calls. This can assist you in screening and blocking unwanted communications from SmartCash.
Prevent Auto Debit: To stop SmartCash from automatically withdrawing funds from your bank account, it’s essential to block your current bank card. Visit your bank to request a new card.
Block on WhatsApp: You can block SmartCash’s contact on WhatsApp to cease receiving messages. Additionally, report their number on WhatsApp to notify the platform about their inappropriate behavior.
Report to App Stores: If SmartCash is available on the Google Play Store or iOS, make sure to report the app. This action will help warn others about its practices, and it may lead to the app's removal from the store.
Taking these steps is vital to safeguard yourself from further harassment or harm from SmartCash.
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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