Expert Review
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Secucash
1. They may send SMS notifications to your contacts indicating that you owe them money.
2. If you're just one day overdue, you might receive unpleasant messages via WhatsApp from the loan provider.
3. Repayment plans typically range from 6 to 14 days, which can be challenging for many borrowers.
4. The interest rates on overdue payments can range from 2% to 7% per day, potentially increasing your debt significantly.
5. It's not advisable to repay them if they resort to defaming you. Remember, they've already received their money, and resorting to defamation is their only means of recourse.
6. Since these loan apps are unlicensed, their only recourse is through defamation tactics.
7. Borrowing from another loan app to settle debts with Secucash could worsen your financial situation and lead to serious debt.
8. Consider installing Truecaller on your mobile phone to identify and block calls from Secucash and similar entities.
9. The best solution to break free from loan sharks like Secucash is to stop borrowing altogether.
10. Take proactive steps to block them on WhatsApp and report their activities directly on WhatsApp and Google Play Store.
11. Remember, there are other ways to manage without borrowing from these loan apps. Prioritize your financial well-being and integrity.
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ICoin
Let's delve into the matter concerning ICoin, an entity with certain practices that could potentially impact you negatively. Firstly, it's important to note that ICoin operates by sending SMS messages to your contacts indicating that you owe them money. Additionally, they resort to sending various derogatory messages via WhatsApp to your contacts, often starting from just one day after a payment is overdue.
Typically, ICoin offers repayment plans spanning from 6 to 14 days, which can prove to be challenging to fulfill. Moreover, the interest rates for overdue payments range from 2% to 7% per day, potentially leading you further into debt.
It's crucial to understand that once ICoin defames you, they've already achieved their objective of obtaining their money. As unlicensed loan apps, their primary recourse is to tarnish your reputation.
Engaging in a cycle of borrowing from different loan apps to repay ICoin is ill-advised and could lead to financial ruin. Given their presence across multiple mobile app stores, attempting to borrow from other sources may inadvertently lead you back to ICoin, exacerbating your debt burden.
One practical step to mitigate their impact is to install Truecaller on your mobile device, allowing you to identify and avoid their calls while also blocking their contacts.
Ultimately, the most effective solution to break free from the clutches of loan sharks like ICoin is to cease borrowing altogether. It's advisable to block them on WhatsApp and report their activities directly to WhatsApp and Google Play store authorities.
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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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