Expert Review
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AllCredit
Let's address some concerning practices related to a financial service known as AllCredit. Firstly, it's important to understand that they may resort to aggressive tactics if you owe them money. Instead of simple reminders, they might send SMS messages to your contacts, indicating that you owe them funds. Furthermore, they may escalate their approach by sending derogatory messages to your WhatsApp contacts, often starting just one day after your payment is due.
Typically, AllCredit offers repayment plans spanning from 6 to 14 days, which can be challenging for many borrowers. What worsens the situation is the high overdue interest they impose, ranging from 2% to 7% per day. This can quickly accumulate, leading to more debt.
It's crucial to note that once they resort to defamatory tactics, it's best not to comply with their demands. Their main leverage, being unlicensed loan apps, lies in damaging your reputation.
Moreover, borrowing from other loan apps to repay AllCredit is not advisable. Given the interconnected nature of these apps, attempting to borrow from one to pay off another often results in deeper financial troubles.
To protect yourself, consider installing Truecaller on your mobile device to identify and block their calls. Additionally, if you encounter such practices, block them on WhatsApp and report them directly to WhatsApp and Google Play Store.
Ultimately, the most effective solution to break free from the clutches of loan sharks like AllCredit is to stop borrowing from them altogether. Remember, you managed before they entered the picture, and with determination, you can find alternative means to sustain yourself. Guard your integrity and financial well-being by avoiding these predatory practices.
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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