Expert Review
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Swiftnaira
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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Prime pay
We will review the apps within the next 48 hours and provide detailed information and also do our background checks10 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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Snappycredit-momogo
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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Moneytree mycash
- Be cautious if you receive SMS messages from lenders claiming you owe them money—they may send these to your contacts as well.
- Expect a barrage of unpleasant WhatsApp messages if your repayment is even just one day late.
- Many of these lenders impose short repayment schedules, typically ranging from 6 to 14 days, making it extremely difficult to manage your debts.
- Prepare for daily overdue interest rates between 5% and 7%, which can quickly lead you deeper into financial trouble.
- Once your reputation is damaged, their goal is achieved, and they may no longer expect repayment.
- Without a proper license, these lenders cannot take legal action against you; their primary strategy is to harm your reputation.
- Avoid the trap of borrowing from other loan apps to pay off existing debts, as this can only complicate your situation further.
- Use Truecaller to screen and block calls from these lenders, reducing your stress and anxiety.
- The best way to escape the clutches of loan sharks is to stop borrowing altogether.
- Don’t hesitate to block them on WhatsApp and report them to both WhatsApp and the Google Play Store to protect yourself and others from falling victim to their schemes.
Stay informed and make wise financial choices to protect yourself from predatory lending practices.
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9Credit
Let's address 9Credit and its operations. To begin, it's essential to understand that regardless of the loan amount provided, repayment must occur within a maximum period of 7 days, as their repayment tenure does not exceed this timeframe.
Moreover, instead of directly contacting you about outstanding debts, 9Credit opts to send SMS notifications to your contacts, informing them of your indebtedness. Additionally, if you fail to meet repayment deadlines, they resort to sending disparaging messages via WhatsApp to your contacts, starting as soon as one day after the due date.
Typically, their repayment plans span from 6 to 14 days, presenting challenges for borrowers in meeting their financial obligations. Adding to the burden is the high overdue interest rate, ranging between 5% to 7% per day, which can quickly escalate your debt.
It's important to refrain from repaying them once they resort to defaming you, as this only serves to enrich them. Despite being unlicensed loan apps, 9Credit and similar services lack legal authority. Their primary recourse is to tarnish your reputation.
Attempting to borrow from other loan apps to repay 9Credit only worsens your financial situation. Given their multiple apps available on mobile app stores, borrowing from another source may inadvertently lead to borrowing from them again, plunging you into further debt.
Consider installing Truecaller on your mobile device to identify and block their calls, providing a measure of protection. Additionally, blocking them on WhatsApp and reporting their activities directly on WhatsApp and Google Play Store can serve as deterrents.
Ultimately, the most effective solution to break free from the grip of loan sharks like 9Credit is to cease borrowing altogether. By taking control of your finances and avoiding further indebtedness, you can safeguard your financial well-being in the long run.
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iCredit
Instead of directly informing your contacts about your debt, they opt for sending SMS messages to them, indicating that you owe money. Additionally, if you miss your repayment deadline by just one day, iCredit begins sending derogatory messages via WhatsApp to your contacts.
Their repayment plans typically range from 6 to 14 days, making it challenging for borrowers to meet their obligations. What exacerbates the situation is their high overdue interest rates, which can range from 5% to 7% per day, leading to further accumulation of debt.
It's crucial to refrain from repaying them once they tarnish your reputation, as this only serves to satisfy their agenda. Since they are unlicensed loan apps, iCredit and similar services lack legal recourse and rely primarily on defamation as their tool of coercion.
Attempting to borrow from other loan apps to settle your debts with iCredit is not advisable, as it could lead to bankruptcy. They have numerous apps on mobile app stores, making it easy to inadvertently borrow from them again and plunge further into debt.
To protect yourself from their persistent efforts, consider installing Truecaller on your mobile device to identify and block their calls. Additionally, blocking them on WhatsApp and reporting their activities directly on both WhatsApp and Google Play Store can help deter their actions.
Ultimately, the most effective solution to break free from loan sharks like iCredit is to cease borrowing altogether. By taking control of your finances and avoiding further indebtedness, you can safeguard your financial well-being in the long run.
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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