Expert Review
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Newcredit
Newcredit, a prominent lending platform, is a subsidiary of New Edge Finance, a reputable financial institution with a diverse portfolio. Notably, New Edge Finance also owns Easybuy and boasts a robust presence on Google Play Store with over 12 apps.
In terms of borrower relations, Newcredit stands out for its fair and respectful repayment policies. Borrowers are afforded the flexibility to repay their loans gradually, without fear of defamation or negative repercussions from the platform. This approach fosters trust and empowers borrowers to manage their financial commitments at their own pace.
To ensure a smooth repayment experience, borrowers are advised against paying overdue interest once the normal interest and capital amounts have been settled. By adhering to this guideline, borrowers can avoid unnecessary financial strain and maintain control over their repayment journey.
In the event of persistent communication from Newcredit via calls or WhatsApp messages, borrowers have the option to block their contacts and WhatsApp numbers. This proactive measure helps borrowers maintain their privacy and peace of mind, mitigating potential disruptions.
It is strongly recommended that borrowers refrain from borrowing from other loan apps to settle dues with Newcredit. Engaging in such practices may exacerbate financial challenges and lead to a cycle of debt accumulation.
For additional control over communication channels, borrowers can leverage Truecaller by installing it on their mobile phones. Truecaller enables users to identify and block spam calls, including those from lenders like Newcredit, providing an added layer of security and peace of mind.
By embracing Newcredit's transparent and borrower-friendly approach, individuals can effectively manage their financial obligations and build a positive relationship with the platform, ultimately paving the way for financial well-being and stability.
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Cashlion
Cashlion isn't exactly known for playing nice when it comes to debt collection. They've been known to send SMS messages to your contacts, letting them in on your financial situation. And if that's not enough, they might flood your WhatsApp with all sorts of nasty messages if you're even just a day overdue. It's not a pleasant experience, to say the least.
Now, let's dive into their interest rates. Brace yourself because they're on the higher side. Cashlion charges anywhere between 5% to 7% per day for overdue payments. That's a hefty chunk of change, and if you're not careful, it can easily spiral out of control, burying you further in debt.
Here's the kicker: once Cashlion starts tarnishing your reputation, don't bother trying to pay them back. They've already got what they wanted, and settling your debt won't magically erase those derogatory messages. Plus, since they're not licensed, they don't have much legal recourse besides smearing your name.
Whatever you do, don't fall into the trap of borrowing from another loan app to repay Cashlion. 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 sinking deeper into financial quicksand.
To shield yourself from Cashlion's relentless harassment, 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 Cashlion's clutches is to stop borrowing altogether. It might not be easy, but it's the only way to steer clear of their debt trap.
Remember, your financial freedom is worth more than any loan. So, stay vigilant, make wise borrowing decisions, and don't let Cashlion or any other loan shark drag you down.
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LCredit
Allow me to shed some light on LCredit and what you need to know to safeguard your financial well-being.
To begin with, LCredit has a rather aggressive approach when it comes to debt collection. They won't hesitate to bombard every single one of your contacts with automated calls, making sure everyone knows about your outstanding debt. And if that's not enough, they'll also flood your WhatsApp with derogatory messages if you're just one day overdue. It's not a pleasant experience, to say the least.
Now, let's talk about their repayment plans. LCredit typically offers repayment periods ranging from 6 days to 14 days, which can be quite challenging to meet. And to make matters worse, their overdue interest rates can soar as high as 5% to 7% per day, pushing you further into the abyss of debt.
Here's a crucial piece of advice: once LCredit starts defaming you, don't even think about paying them back. They've already gotten what they wanted, and paying them won't make the derogatory messages disappear. Plus, since they're not licensed, they don't have much legal recourse besides tarnishing your reputation.
Whatever you do, resist the temptation to borrow from another loan app to repay LCredit. They have a plethora of apps scattered across mobile app stores, so if you think you're escaping one debt by borrowing from another, think again. You'll only find yourself sinking deeper into financial trouble.
To shield yourself from LCredit's relentless harassment, consider installing Truecaller on your mobile 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 LCredit's clutches is to stop borrowing altogether. It might not be easy, but it's the only way to avoid getting caught in their web of debt.
Take care, and remember that your financial well-being is worth more than any loan. Stay vigilant, make wise borrowing decisions, and don't let LCredit or any other loan shark drag you down.
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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