• 

  Gocash

  Category: Dangerous Loan

  Interest rate: 34%

  Let's discuss Gocash, which is operated by the Sokoloan company and is notorious for sending derogatory messages to your contacts.

  When you owe them money, Gocash doesn't hesitate to send SMS messages to your contacts, alerting them of your debt. Moreover, even if you miss your repayment deadline by just one day, they start bombarding your WhatsApp contacts with disparaging messages.

  Their repayment plans typically range from 6 to 14 days, making it challenging for borrowers to meet their obligations. Coupled with high overdue interest rates, ranging from 5% to 7% per day, Gocash can quickly escalate your debt burden.

  It's important not to repay them once they tarnish your reputation, as this only serves to fulfill their agenda. Due to their lack of licensing, these loan apps are limited in their options and resort to defamation as their primary means of coercion.

  Attempting to borrow from other loan apps to settle your debts with Gocash is risky, as they have multiple apps on mobile app stores. This could potentially trap you in a cycle of indebtedness, leading to serious financial consequences.

  To protect yourself from their tactics, consider installing Truecaller on your mobile phone 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 mitigate their actions.

  Ultimately, the most effective solution to break free from loan sharks like Gocash is to stop borrowing altogether. By taking control of your finances and avoiding further indebtedness, you can safeguard your financial well-being in the long term.

• 

  Mr Money

  Category: Dangerous Loan

  Interest rate: 42%

  Mr. Money in a straightforward manner, as if we’re having a one-on-one chat. Here’s what you need to know:

   

  SMS and Derogatory Messages:

  • When you borrow money from Mr. Money, they won’t hesitate to send SMS messages to your contacts, letting them know that you owe them money.
  • Additionally, if your repayment is even one day overdue, they’ll bombard your WhatsApp with all sorts of negative messages.

   

  Repayment Plans:

  • Mr. Money typically offers repayment plans ranging from 6 to 14 days. However, these plans can be quite challenging to manage.
  • The pressure to repay within such a short timeframe can be overwhelming.

   

  Overdue Interest:

  • Beware of their overdue interest rates, which can range from 2% to 7% per day. These high rates can quickly trap you in a cycle of debt.
  • Once they label you as a defaulter, they’ve already made their money – paying them back won’t change that.

   

  Unlicensed Loan Apps:

  • Mr. Money operates without a license. Their only weapon is to tarnish your reputation.
  • Legally, they can’t take any direct action against you.

   

  Avoid Borrowing More:

  • Resist the temptation to borrow from another loan app to pay off Mr. Money. It’s a slippery slope.
  • Many loan apps are interconnected, and you might unknowingly end up borrowing from them again.

   

  Truecaller for Identification:

  • Install Truecaller on your mobile phone. It helps you identify incoming calls.
  • Use it to avoid their calls and block their contacts.

   

  Break the Cycle:

  • The ultimate solution to escape the clutches of loan sharks is to stop borrowing altogether.
  • Remember, you survived before they came into the picture – you’ll find other ways to manage.

   

  Take Action:

  • Block Mr. Money on WhatsApp and report them directly on WhatsApp and Google Play Store.
  • Protect your integrity and well-being.

   

  Remember, you have the power to break free from this cycle. Prioritize your financial health and well-being over short-term loans. 🌟

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Step by step guide to break free from loan apps

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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.

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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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