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  Okash

  Category: Mild Loan

  Interest rate: 32%

  1. Okash is a legit and authorized loan app, so you're in safe hands.
  2. They won't tarnish your reputation or spread rumors about you.
  3. If you default on your payments, they'll take the necessary steps and report the matter to the appropriate authorities.
  4. While their overdue interest rates are fair, you have the option to skip paying them back once you've settled the principal and initial interest.
  5. Avoid borrowing from other loan apps to settle your debt with Okash. Instead, pay them back when you have the funds available. You can even stretch out your payments over several months, just make sure to honor your commitment.
  6. Consider installing Truecaller on your phone to identify and block their calls if you'd rather not engage with them.
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  Maxmoni

  Category: Dangerous Loan

  Interest rate: 35%

  We will review the apps within the next 48 hours and provide detailed information and also do our background checks

  10 Commandments for Dealing with Loan Sharks

  
  

  1. Ignore Harassing Messages: If loan sharks have already contacted your friends or family, don't worry. You don't owe them anything more. Move forward and focus on your life.

  
  

  2. Unlicensed Apps Are Helpless: Loan apps resorting to defamation aren't legitimate. They can't legally harm you. Their only tool is to shame you.

  
  

  3 Your Contacts Can't Save You: Most of your contacts won't be able to assist you, and they're likely aware of the shady tactics loan sharks use.

  
  

  4 Beware of Short-Term Loans: Loans with short durations and high interest rates often lead to threats and defamation. Avoid loan sharks. If you must borrow, choose licensed lenders.

  
  

  5 Debt Leads to Bankruptcy: Borrowing from these apps can wreck your finances and push you towards bankruptcy. The best solution is to stop borrowing altogether.

  
  

  6 Avoid Overdue Interest: If you've already paid back the principal and initial interest, ignore any demands for overdue interest.

  
  

  7 Don't Cycle Debts: Taking a loan to pay off another leads to a cycle of debt. Loan sharks have multiple apps, and you'll end up deeper in trouble

  
  

  8 Use Truecaller to Block: Install Truecaller on your phone to identify loan shark calls and block them. Also, report them on WhatsApp and Google Play Store.

  
  

  9 Break Free from Loan Sharks: The only way to escape loan sharks is to stop borrowing from them. You survived before they came into your life. Don't let them tarnish your reputation.

  
  

  10 Stay strong, and prioritize your financial well-being: Remember, health is wealth. Do not allow loan sharks to jeopardize your future!.

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  CashRun

  Category: Dangerous Loan

  Interest rate: 35%

   

   

  They'll shoot off SMS to your contacts, saying you owe them money.

  Brace yourself for a barrage of nasty WhatsApp messages if you're just a day late.

  Their repayment plans usually last between 6 to 14 days, making it a real struggle to pay up.

  Expect overdue interest rates of 5% to 7% per day, pushing you deeper into debt.

  Don't bother paying them back once they tarnish your name. They've already got what they wanted.

  Since they're not licensed, they can't take legal action against you. Their only weapon is to smear your reputation.

  Avoid borrowing from other loan apps to settle your debts; you'll only dig yourself into a deeper hole.

  Use Truecaller to screen and block their calls, sparing yourself unnecessary stress.

  The best way to break free from loan sharks is to stop borrowing altogether.

  Block them on WhatsApp and report them directly to WhatsApp and Google Play Store to protect others from falling into the same trap.

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  Eagle Cash

  Category: Dangerous Loan

  Interest rate: 40%

   

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

  1. Prepare for Aggressive Follow-ups if You're Late
     • Even a slight delay in repayment can trigger a flood of messages, often on platforms like WhatsApp. If these messages become overwhelming, consider blocking the sender to protect your peace of mind.
  2. Avoid Borrowing from Multiple Apps
     • Taking out loans from different platforms to cover existing debts can lead to a deeper cycle of debt. Steer clear of this approach to maintain financial control.
  3. Beware of High Late Fees and Interest Rates
     • Missing payments can lead to daily interest charges ranging from 5% to 7%, causing your debt to grow rapidly. 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 and expose you to cyber risks.
  5. Consider Safer Alternatives
     • Many loan apps are designed to trap users in debt cycles, 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 challenging 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 may contact your family or friends to pressure you, potentially harming your reputation. For some, this alone is a reason 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. Stay informed and cautious to ensure you make the best financial decisions for your future

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  Somemoney

  Category: Dangerous Loan

  Interest rate: 35%

  Important Information for SomeMoni Users:

  If You Downloaded the App Outside the Play Store
  Downloading the app from sources other than the Play Store may mean you’ve allowed access to your contacts by granting permission. To protect your privacy, it’s crucial to generate your own disclaimer. You can easily do this here.

  Beware of Loan Agents Scams
  Before trusting any loan agents in this or other groups, make sure to check out the growing number of scams targeting users. Read more about how agents on Facebook groups are scamming people here.

  Clearing Your Contacts from Loan Apps Databases
  Wondering if it's possible to remove your contacts from a loan app’s database? Get all the facts and see what’s true or not here.

  Ignore Harassing Messages
  If loan apps have contacted your friends or family, don’t worry. You’ve repaid what’s owed and don’t need to respond further. Keep moving forward and focus on your life.

  Unlicensed Loan Apps Have No Power
  Loan apps that resort to defamation are not legitimate and can’t take legal action against you. Their only tactic is shaming—don’t let it affect you.

  Your Contacts Can’t Save You
  Most of your contacts won’t be able to help, and they’re likely aware of the unfair methods some loan apps use.

  Watch Out for Short-Term Loans
  Loans with 7-day durations and high interest often come with threats and defamation tactics. Avoid loan sharks. If you need to borrow, always choose licensed lenders.

  Debt Can Lead to Bankruptcy
  Borrowing from predatory loan apps can ruin your finances and push you toward bankruptcy. The best way to protect yourself is to stop borrowing from these apps altogether.

  Ignore Overdue Interest Demands
  If you’ve already repaid the principal and initial interest, any demands for overdue interest can be ignored.

  Avoid the Debt Cycle
  Taking out one loan to pay off another is a dangerous cycle. Loan sharks operate multiple apps, and this can trap you further in debt.

  Use Truecaller to Block Harassing Calls
  Install Truecaller on your phone to identify and block loan shark calls. You can also report them on WhatsApp and Google Play Store to help stop their activities.

  Break Free from Loan Sharks
  The only way to escape loan sharks is to stop borrowing from them. Remember, you managed just fine before these apps, and you can do so again without them tarnishing your reputation.

  Stay Strong and Protect Your Financial Well-being
  Always prioritize your financial health. Don’t let loan sharks endanger your future. Your peace of mind and well-being are worth far more.

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