• 

  Silk loan

  Category: Mild Loan

  Interest rate: 35%

  When using Silk Loan App, it’s crucial to be aware of the following potential risks and practices that may affect your financial well-being:

  1. Broadcasting Your Debt

  Silk Loan App may notify your contacts via SMS regarding your outstanding debt. This tactic aims to exert pressure on you by involving your personal network.

  2. Harassment on WhatsApp

  If you miss a payment, be prepared for aggressive and relentless messages on WhatsApp. Even a single day of delay can trigger a wave of distressing communications.

  3. Tight Repayment Window

  The repayment periods offered by Silk Loan App are typically very short, often ranging from just 6 to 14 days. This limited timeframe can create significant pressure and make it challenging for borrowers to meet their obligations.

  4. High Interest on Overdue Payments

  If you fail to repay on time, be cautious of their exorbitant overdue interest rates, which can escalate rapidly from 1% to 5% per day. This can quickly deepen your financial burden and lead to unmanageable debt.

  5. Reputation Over Debt

  Once Silk Loan App begins defaming you, simply paying back the loan may not restore your reputation. Their primary objective is to tarnish your name, which they accomplish through public shaming tactics.

  6. Unlicensed and Defamatory Tactics

  Silk Loan App often operates without proper licensing and resorts to defamation as a means of coercing repayment. This unscrupulous behavior can leave borrowers feeling vulnerable and powerless.

  7. Avoid Borrowing from Other Loan Apps

  Steer clear of the trap of taking out additional loans from other apps to repay Silk Loan App. This strategy often leads to a vicious cycle of debt, making your financial situation even worse.

  8. Block Their Calls

  Utilize call management apps like Truecaller to identify and block persistent calls from Silk Loan App. This can significantly reduce the stress of constant harassment.

  9. Break Free from the Cycle

  The most effective way to regain control over your finances is to cease borrowing from Silk Loan App entirely. While it may be difficult, breaking free from their grip is essential for your financial health.

  10. Take Action

  Don't hesitate to block them on WhatsApp, and report any abusive behavior to WhatsApp and the Google Play Store. Protecting yourself from their unscrupulous tactics is vital.

  11. Stay in Control

  Remember that you managed your finances effectively before Silk Loan App entered the picture. Do not allow their manipulative practices to harm your reputation or drain your resources.

  By staying informed and proactive, you can safeguard yourself against the negative consequences of using Silk Loan App and maintain control over your financial future.

• 

  Frimoni

  Category: Dangerous Loan

  Interest rate: 40%

  Protect Yourself When Dealing with Unregistered Loan Apps: A Guide for Frimoni Users

  If you're managing loans from unregulated loan providers like IMoney, it's essential to understand certain key aspects of repayment and how to safeguard yourself. Here’s what you need to know when dealing with such platforms:

  1. Unregistered Loan Apps

  IMoney is not a registered loan app, meaning it does not adhere to the legal guidelines set by Nigerian financial authorities. This lack of regulation can lead to unethical practices, so proceed with caution if you're involved with such services.

  2. Dealing with Derogatory Messages to Your Contacts

  If IMoney has sent offensive or embarrassing messages to your contacts in an attempt to pressure you into repayment, do not panic. While this tactic is harmful, it’s a strategy used to coerce borrowers. You are not legally obligated to repay under duress. If they persist, calmly inform them that you’re ready to address the matter in court, which often dissuades further harassment.

  3. Defamation and Reputational Harm

  If your reputation has already been damaged by IMoney through defamatory messages, repaying them will not necessarily undo the harm caused. Once your reputation is affected, the damage is done, and paying them back may not restore it. Focus on protecting yourself from further harassment instead.

  4. Install TrueCaller to Block Spam Calls

  Install the TrueCaller app on your phone to help identify and block spam calls, including any harassing calls from IMoney. This app provides an extra layer of protection against unwanted contact.

  5. Block Auto Debit from Your Bank Account

  To prevent IMoney from automatically withdrawing money from your bank account, it’s essential to block your bank card. Visit your bank and request a new card to ensure they can't access your funds through auto-debit.

  6. Block and Report on WhatsApp

  If IMoney contacts you via WhatsApp, block their number to stop receiving their messages. Additionally, report their number to WhatsApp to alert the platform about their behavior, which may lead to their account being flagged or suspended.

  7. Report the App to Google Play or iOS App Store

  If IMoney is listed on the Google Play Store or iOS App Store, report the app to the platform. This not only helps alert other users to their unethical practices but may also result in the removal of the app from these stores, protecting future borrowers.

  Take Action to Protect Yourself

  By following these steps, you can safeguard yourself from further harassment and protect your finances. Whether it's blocking calls, reporting the app, or preventing unauthorized withdrawals, you have control over how to respond to unethical loan providers like IMoney.

  Remember, Frimoni provides a safe and transparent loan process, so you can avoid these pitfalls with our reliable service. Always choose trusted, registered loan apps to protect your peace of mind.

• 

  Creditmoi

  Category: Dangerous Loan

  Interest rate: 35%

  We will review the apps within the next 48 hours and provide detailed information and also do our background checks

  10 Commandments for Dealing with Loan Sharks

  
  

  1. Ignore Harassing Messages: If loan sharks have already contacted your friends or family, don't worry. You don't owe them anything more. Move forward and focus on your life.

  
  

  2. Unlicensed Apps Are Helpless: Loan apps resorting to defamation aren't legitimate. They can't legally harm you. Their only tool is to shame you.

  
  

  3 Your Contacts Can't Save You: Most of your contacts won't be able to assist you, and they're likely aware of the shady tactics loan sharks use.

  
  

  4 Beware of Short-Term Loans: Loans with short durations and high interest rates often lead to threats and defamation. Avoid loan sharks. If you must borrow, choose licensed lenders.

  
  

  5 Debt Leads to Bankruptcy: Borrowing from these apps can wreck your finances and push you towards bankruptcy. The best solution is to stop borrowing altogether.

  
  

  6 Avoid Overdue Interest: If you've already paid back the principal and initial interest, ignore any demands for overdue interest.

  
  

  7 Don't Cycle Debts: Taking a loan to pay off another leads to a cycle of debt. Loan sharks have multiple apps, and you'll end up deeper in trouble

  
  

  8 Use Truecaller to Block: Install Truecaller on your phone to identify loan shark calls and block them. Also, report them on WhatsApp and Google Play Store.

  
  

  9 Break Free from Loan Sharks: The only way to escape loan sharks is to stop borrowing from them. You survived before they came into your life. Don't let them tarnish your reputation.

  
  

  10 Stay strong, and prioritize your financial well-being: Remember, health is wealth. Do not allow loan sharks to jeopardize your future!.

• 

  Topchance

  Category: Dangerous Loan

  Interest rate: 45%

  If you're considering borrowing from TopChance or are already a borrower, it’s crucial to understand some key aspects of repayment and how to protect yourself. Here’s what you need to keep in mind:

  1. Unregistered Loan App

  TopChance is not a registered loan provider, which means they may not adhere to the legal guidelines and regulations set by authorities. This could result in unethical practices, so it's important to be cautious when dealing with them.

  2. Derogatory Messages to Contacts

  If TopChance has sent offensive or disrespectful messages to your contacts, do not panic. While this behavior is both harmful and embarrassing, it is often used as a tactic to collect repayment through fear and pressure. Do not feel obligated to repay them under such circumstances. You can tell them you're prepared to handle the matter in court if they ask for repayment.

  3. Defamation and Reputational Damage

  If your reputation has already been tarnished by derogatory messages from TopChance, repaying them will not undo the damage that’s been done. At this point, the harm has been inflicted, and paying them back may provide little benefit in restoring your reputation.

  4. Install TrueCaller for Spam Protection

  To help identify and block unwanted calls from TopChance, you can install the TrueCaller app. This app identifies and blocks spam calls, providing a layer of protection from harassing calls.

  5. Block Auto Debit from Your Bank Account

  To prevent TopChance from automatically debiting funds from your bank account, it’s essential to block your bank card. Simply visit your bank and request a new card to prevent any unauthorized deductions.

  6. Block and Report on WhatsApp

  If you are receiving harassing messages from TopChance on WhatsApp, block their contact. In addition to blocking, you should also report them to WhatsApp so the platform can take action against their account and alert others about their behavior.

  7. Report to App Stores

  If TopChance is listed on the Google Play Store or Apple iOS Store, report the app to the store. By doing so, you’re helping others become aware of their harmful behavior, and it may even result in the removal of the app from these platforms.

  Protect Yourself from Unethical Practices

  Taking these actions can help protect you from further harm or harassment by TopChance. Whether it's blocking calls, auto-debits, or taking legal steps, you have the power to safeguard your financial well-being and reputation.

• 

  Some money

  Category: Dangerous Loan

  Interest rate: 35%

  Important Information for SomeMoni Users:

  If You Downloaded the App Outside the Play Store
  Downloading the app from sources other than the Play Store may mean you’ve allowed access to your contacts by granting permission. To protect your privacy, it’s crucial to generate your own disclaimer. You can easily do this here.

  Beware of Loan Agents Scams
  Before trusting any loan agents in this or other groups, make sure to check out the growing number of scams targeting users. Read more about how agents on Facebook groups are scamming people here.

  Clearing Your Contacts from Loan Apps Databases
  Wondering if it's possible to remove your contacts from a loan app’s database? Get all the facts and see what’s true or not here.

  Ignore Harassing Messages
  If loan apps have contacted your friends or family, don’t worry. You’ve repaid what’s owed and don’t need to respond further. Keep moving forward and focus on your life.

  Unlicensed Loan Apps Have No Power
  Loan apps that resort to defamation are not legitimate and can’t take legal action against you. Their only tactic is shaming—don’t let it affect you.

  Your Contacts Can’t Save You
  Most of your contacts won’t be able to help, and they’re likely aware of the unfair methods some loan apps use.

  Watch Out for Short-Term Loans
  Loans with 7-day durations and high interest often come with threats and defamation tactics. Avoid loan sharks. If you need to borrow, always choose licensed lenders.

  Debt Can Lead to Bankruptcy
  Borrowing from predatory loan apps can ruin your finances and push you toward bankruptcy. The best way to protect yourself is to stop borrowing from these apps altogether.

  Ignore Overdue Interest Demands
  If you’ve already repaid the principal and initial interest, any demands for overdue interest can be ignored.

  Avoid the Debt Cycle
  Taking out one loan to pay off another is a dangerous cycle. Loan sharks operate multiple apps, and this can trap you further in debt.

  Use Truecaller to Block Harassing Calls
  Install Truecaller on your phone to identify and block loan shark calls. You can also report them on WhatsApp and Google Play Store to help stop their activities.

  Break Free from Loan Sharks
  The only way to escape loan sharks is to stop borrowing from them. Remember, you managed just fine before these apps, and you can do so again without them tarnishing your reputation.

  Stay Strong and Protect Your Financial Well-being
  Always prioritize your financial health. Don’t let loan sharks endanger your future. Your peace of mind and well-being are worth far more.

• 

  Loan Naira

  Category: Dangerous Loan

  Interest rate: 45%

  When dealing with Loan Naira, it's crucial to understand certain aspects of repayment. Here's what you need to know:

  Derogatory Messages: If Loan Naira has sent disrespectful or offensive messages to your contacts, it can be harmful and embarrassing. However, once they've crossed that line, paying them back may not resolve the issue. Consider seeking legal recourse instead.

  Defamation: If Loan Naira has already tarnished your reputation with derogatory messages, paying them back may not undo the damage. It's important to weigh your options and consider seeking legal advice.

  Install TrueCaller: TrueCaller is a phone app that helps identify and block spam calls. Installing this app can help you identify and block unwanted calls from Loan Naira.

  Block Auto Debit: To prevent Loan Naira from automatically debiting money from your bank account, it's important to block your bank card. Visit your bank to request a new card.

  Block on WhatsApp: You can block Loan Naira's contact on WhatsApp to stop receiving messages from them. Additionally, report them on WhatsApp to alert the platform about their behavior.

  Report to App Stores: If Loan Naira is available on Google Play Store or iOS, report the app to the respective app store. This helps warn others about the app's behavior and may result in its removal from the store.

  Taking these steps can help protect yourself from further harm or harassment by Loan Naira.

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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.

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  Loan Apps major aim is to make outrageous profit from people and render people bankrupt. Dont be a victim