Expert Review
-
Gocash
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.
-
Kredi Bank: Secure Savings App
Let's discuss Kredi Bank: Secure Savings App and what it entails for you as a user. It's important to understand certain aspects of this service to make informed decisions. Here's what you should know:
- They won't tarnish your reputation if you gradually pay off your debts.
- Avoid paying overdue interest once you've cleared your normal interest and principal amount.
- If they persistently disturb you, it's best to block their contacts and WhatsApp numbers.
- Refrain from borrowing from other loan apps to settle your debts.
- Consider installing Truecaller on your mobile phone and blocking them to avoid unwanted communication.
- The best solution to break free from loan sharks is to stop borrowing altogether.
- Take action by blocking them on WhatsApp and reporting their activities directly on WhatsApp and Google Play Store.
- Remember, if you stop borrowing from them, you'll find other ways to manage. Don't let them compromise your integrity.
-
XCredit
Let's delve into XCredit and its practices. Firstly, it's important to note that this service employs various methods to collect outstanding debts. Instead of directly informing your contacts about your debt, they opt for sending SMS messages to them, indicating that you owe money.
Additionally, XCredit resorts to sending derogatory messages via WhatsApp to your contacts, beginning as early as one day after your repayment deadline. Their repayment plans typically span from 6 to 14 days, making it challenging for borrowers to meet their obligations.
What exacerbates the situation is their high overdue interest rates, ranging from 5% to 7% per day, which can quickly escalate your debt. It's crucial to refrain from repaying them once they tarnish your reputation, as this only serves to enrich them.
Being unlicensed loan apps, XCredit and similar services lack legal recourse. Their primary tool for coercion is defamation. Moreover, attempting to borrow from other loan apps to repay them only exacerbates your financial woes, as you might unknowingly end up borrowing from them again, perpetuating a cycle of debt.
To shield yourself from their relentless pursuit, consider installing Truecaller on your mobile device to identify and block their calls. Additionally, blocking them on WhatsApp and reporting their activities on both WhatsApp and Google Play Store can serve as deterrents.
Step by step guide to break free from loan apps
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.
-
Loan Apps major aim is to make outrageous profit from people and render people bankrupt. Dont be a victim
What people are saying
Add a review
Your comment could save a life! Share your experience with loan apps and help others escape the clutches of Loan Shark Apps.
