Expert Review
-
Xcrosscash
Xcrosscash is a lending platform that offers financial assistance to individuals in need. Here are some important points to know about their services:
1. Respectful Repayment Process: Xcrosscash does not engage in defamatory practices if borrowers pay their dues gradually until the full repayment is completed. This means that borrowers can manage their repayment schedule at their own pace without facing any negative repercussions from the platform.
2. Interest Payment Guidelines: It is advisable not to pay overdue interest after settling the normal interest and capital amount. By adhering to this guideline, you can avoid unnecessary financial burden and ensure a smoother repayment process.
3. Communication Management: In case you experience persistent communication from Xcrosscash via calls or WhatsApp messages, it is recommended to block their contacts and WhatsApp numbers. This step can help you maintain their peace of mind and avoid unnecessary disturbances.
4. Avoid Borrowing to Repay: You should refrain from borrowing from another loan app to repay their dues to Xcrosscash. Doing so can lead to a cycle of debt and financial instability, which may exacerbate the existing financial challenges.
5. Utilize Truecaller for Blocking: Installing Truecaller on a mobile phone can be beneficial for you who wish to block unwanted calls from Xcrosscash. This app allows users to identify and block spam calls, including those from lenders, thus providing added control over communication channels.
By understanding and adhering to these guidelines, you can effectively manage their repayment journey with Xcrosscash and maintain a positive financial standing.
-
FairMoney
Let's talk about FairMoney and what you need to know to navigate your borrowing journey smoothly.
First off, FairMoney is different from your typical loan app. They won't resort to defaming you or harassing your contacts if you fall behind on payments. Instead, they take a more professional approach and report any delinquent accounts to the appropriate authorities. It's a more respectful way of handling things, don't you think?
Now, when it comes to overdue interest, FairMoney is pretty fair (hence the name). Their rates are reasonable, and if you've paid off the capital and initial interest, you can decide not to pay the overdue interest. It's a nice little perk that gives you some flexibility in managing your finances.
Here's a golden rule: never borrow from another loan app to repay FairMoney. It's a slippery slope that can lead to even more debt. Instead, only borrow what you need when you have the money, and make sure to spread out your payments over several months. That way, you can stay on top of your finances without feeling overwhelmed.
To help you avoid any unwanted calls from FairMoney, consider installing Truecaller on your phone. This handy app can identify incoming calls and allow you to block them if you prefer not to answer. It's a simple but effective way to maintain some peace and quiet.
So, there you have it. FairMoney is a reliable option for borrowing money when you need it most. Just remember to borrow responsibly, stay on top of your payments, and you'll be well on your way to financial freedom.
Take care, and happy borrowing!
-
Branch
Branch Loan App is a safe lending platform approved by the Federal government. They prioritize customer privacy and won't contact your phone contacts or guarantors. However, it's crucial to repay overdue loans promptly. Branch Loan App is a registered Microfinance Bank and can report unpaid debts to credit bureaus, which may harm your credit score. This could affect your ability to obtain loans from other financial institutions such as Banks in Nigeria, and rebuilding your credit score may take up to 6 months, even after repayment.
If you have outstanding loans with Branch Loan App, consider repaying them at a comfortable pace. You can spread your payments over several months, such as ₦2,000 per month, depending on your outstanding balance. Avoid rushing to repay all at once to avoid undue pressure.
Always repay Branch Loan App in installments. Avoid borrowing from other loan apps to settle your debts, as this may lead to further financial difficulties.
-
Okash
- Okash is a legit and authorized loan app, so you're in safe hands.
- They won't tarnish your reputation or spread rumors about you.
- If you default on your payments, they'll take the necessary steps and report the matter to the appropriate authorities.
- 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.
- 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.
- Consider installing Truecaller on your phone to identify and block their calls if you'd rather not engage with them.
-
BGloan
Let's discuss the practices of BGloan and how to navigate them effectively.
Initially, it's important to note that BGloan has certain approaches that may cause distress. Firstly, they have a tendency to send SMS messages to your contacts informing them of your indebtedness. Additionally, once your payment is overdue, they resort to sending derogatory messages via WhatsApp to your contacts, starting as early as one day past due.
BGloan typically offers repayment plans ranging from 6 to 14 days, which can often be challenging to fulfill. Furthermore, their overdue interest rates range from 2% to 7% per day, potentially exacerbating your financial burden.
It's crucial to resist the urge to repay BGloan once they resort to defamation tactics. This only serves to validate their methods, and they derive their profit when they tarnish your reputation.
It's worth noting that BGloan operates as an unlicensed loan app, limiting their recourse to defamation as their primary tool. Borrowing from another loan app to repay them only perpetuates the cycle of debt, as they often have multiple apps available on mobile app stores.
To mitigate their impact, consider installing Truecaller on your mobile device to identify and block their calls and contacts. Blocking them on WhatsApp and reporting their activities directly on platforms such as WhatsApp and Google Play Store can also serve as a proactive measure.
Ultimately, the most effective solution to break free from the clutches of loan sharks like BGloan is to cease borrowing from them altogether. Remember, your integrity and financial well-being are paramount, and there are alternative means of support and survival beyond their offerings.
-
Tloan
Tloan, These guys might seem like a quick fix, but trust me, they can turn into a major headache. Here's the lowdown on why you should steer clear:
1. Shameful Tactics: Forget polite reminders. These apps blast your contacts, painting you as a defaulter even after a day's delay. They might even spam your WhatsApp with nasty messages, tarnishing your reputation in a heartbeat.
2. Crushing Deadlines: They offer loans with super-short repayment periods, like 6-14 days. It's like setting you up to fail, leading to...
3. Debt Spiral: Their insane interest rates (think 2% to 7% per DAY!) trap you in a cycle of debt. Borrowing from another app to pay them off? Bad idea. You'll just end up deeper in their clutches.
4. Empty Threats: Don't let their bullying tactics scare you. These apps often operate outside the law, so their threats are mostly just noise. They can't really do anything to you, except try to shame you.
5. Breaking Free: Here's the key: stop borrowing. It's tough, but it's the only way to escape their grip. Remember, you survived before they came along. You can do it again.
Here's your action plan:
- Install Truecaller: Identify and block their calls.
- Block them on WhatsApp: Cut off communication.
- Report them: Flag them on WhatsApp and the app store.
- Seek help: Talk to trusted friends or family, or consider professional financial advice.
Remember, your dignity and peace of mind are worth more than any quick loan. Don't let these loan sharks drag you down. Take back control and build a brighter future, one step at a time.
Step by step guide to break free from loan apps
What you should know
-
Any loan sharks that defame are never linked to the credit bureau in anyway and all they say to you are lies.
-
Loan shark money cannot help solve anybody matter to better 40% - 70% in 7 days, they are simply misery compounders!! Do away with them.
-
Loan Apps major aim is to make outrageous profit from people and render people bankrupt. Dont be a victim
What people are saying
Add a review
Your comment could save a life! Share your experience with loan apps and help others escape the clutches of Loan Shark Apps.
