Expert Review
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Lendmax
- They may send SMS notifications to your contacts, falsely stating that you owe them money.
- Be prepared for a barrage of unpleasant messages on WhatsApp if you miss even a single payment.
- Their repayment terms usually range from 6 to 14 days, which can make it incredibly difficult to pay off your debts.
- Expect daily late fees that can vary from 5% to 7%, further complicating your financial situation.
- Once they damage your reputation, their goal is accomplished, and they may no longer pursue repayment.
- Lacking a proper license, they are unable to take legal action against you; their strategy primarily involves reputational harm.
- Avoid the temptation to borrow from other loan apps to pay off these debts, as this could exacerbate your financial troubles.
- Use Truecaller to identify and block their calls, helping you to avoid unnecessary stress.
- The best way to free yourself from predatory lending practices is to stop borrowing entirely.
- Consider blocking them on WhatsApp and reporting their activities directly to WhatsApp and the Google Play Store to help prevent others from becoming victims of their tactics.
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Carefinance
Let's dive into Carefinance and what you need to know:
They might shoot SMS to your pals saying you owe them cash.
Prepare for all sorts of not-so-nice messages on WhatsApp as soon as you're a day late.
Their repayment window is tight, usually from 7 to 14 days. Tough, right?
Watch out for the extra fees if you're late. It can be anywhere from 1% to 5% per day and will only push you deeper into debt.
Don't rush to pay them off if they start spreading rumors about you. They benefit when they trash your rep.
Don't sweat it too much. These loan apps aren't licensed, so they're all bark and no bite. Defamation is their only weapon.
Whatever you do, don't borrow from another app to pay them. It's a never-ending cycle of debt. They've got tons of apps out there, so you might just end up borrowing from them again.
Grab Truecaller for your phone. It helps you screen calls and block their numbers.
The real fix? Stop borrowing altogether. It's the only way to break free from these loan sharks.
Block them on WhatsApp and make sure to report their shady tactics to WhatsApp and the Google Play Store.
Remember, you were doing just fine before these loan apps showed up. Don't let them ruin your life. You've got this!
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Easykash
Protect Your Contacts: If you've downloaded the app outside of the Play Store, you may have unknowingly granted access to your contacts by allowing permission. To safeguard yourself, generate your own disclaimer here:
Create Your Disclaimer.Avoid Loan Agent Scams: Before trusting any loan agent in this or other groups, make sure you understand the risks. Scammers often operate in Facebook groups. Read more about their tactics here:
Learn About Loan Agent Scams.Clearing Your Contacts: Can loan apps really clear your contacts from their database? Learn the truth about this claim here:
Find Out More.Ignore Harassing Messages: If loan agents have already contacted your friends or family, don’t panic. You don’t owe anything beyond your agreement. Focus on moving forward with your life.
Unlicensed Apps Can’t Hurt You: Loan apps that resort to defamation are unlicensed and powerless. Their primary method is to shame you, but legally, they can’t harm you.
Your Contacts Can’t Help: In most cases, your contacts won’t be able to assist, and many are already familiar with the questionable tactics loan sharks use.
Beware of Short-Term Loans: Loans with short durations, such as 7-day terms, often come with high interest rates, threats, and defamation tactics. If you must borrow, choose a licensed lender to avoid these risks.
Debt Can Lead to Bankruptcy: Borrowing from shady loan apps can ruin your finances and push you towards bankruptcy. The best solution is to stop borrowing altogether.
Avoid Paying Overdue Interest: Once you’ve repaid the principal and initial interest, ignore demands for overdue interest from these apps.
Don’t Fall Into a Debt Cycle: Taking a loan to pay off another only deepens your debt. Many loan sharks operate multiple apps, trapping you in a cycle of borrowing.
Use Truecaller to Block Harassment: Install Truecaller to block loan shark calls and report them on WhatsApp and Google Play Store.
Break Free from Loan Sharks: The only true escape from loan sharks is to stop borrowing from them. You thrived before they entered your life—don’t let them ruin your reputation.
Prioritize Your Financial Health: Stay strong and focused on your financial well-being. Remember, health is wealth—don’t let loan sharks put your future at risk!
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Ultra Cash
They will send SMS messages to your contacts, falsely claiming you owe them money.
Be prepared for a flood of aggressive WhatsApp messages, even if you're only a day late.
Repayment periods typically range from 6 to 14 days, making it difficult to settle the debt on time.
Overdue interest rates often soar to 5-7% daily, trapping you in an endless cycle of debt.
Once they've damaged your reputation, paying them back becomes futile—they’ve already achieved their goal.
Since they operate without licenses, they have no legal recourse. Their primary tactic is to tarnish your image.
Avoid taking loans from other apps to pay off debts, as this will only deepen your financial woes.
Use Truecaller to block their incessant calls and shield yourself from unnecessary harassment.
The best solution is to stop borrowing from these predatory lenders entirely.
Block them on WhatsApp, and report them to WhatsApp and the Google Play Store to prevent others from falling victim.
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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