Expert Review
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Fine kudi
- They will send SMS to your contacts, claiming that you owe them money.
- Be prepared for a flood of unpleasant WhatsApp messages if you are even a day late.
- Their repayment schedules typically range from 6 to 14 days, making it extremely challenging to settle the debt.
- Anticipate daily overdue interest rates of 5% to 7%, pushing you further into financial hardship.
- Once they tarnish your reputation, there is no point in repaying them. They have already achieved their objective.
- Since they lack a license, they are unable to pursue legal action against you. Their only recourse is to damage your reputation.
- Refrain from borrowing from other loan apps to repay your debts; this will only exacerbate your financial situation.
- Utilize Truecaller to screen and block their calls, sparing yourself unnecessary stress.
- The most effective way to escape from loan sharks is to cease borrowing altogether.
- Block them on WhatsApp and report them directly to WhatsApp and the Google Play Store to prevent others from falling victim to the same scam.
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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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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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