Expert Review
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Okash
- Okash is a legit and authorized loan app, so you're in safe hands.
- They won't tarnish your reputation or spread rumors about you.
- If you default on your payments, they'll take the necessary steps and report the matter to the appropriate authorities.
- While their overdue interest rates are fair, you have the option to skip paying them back once you've settled the principal and initial interest.
- Avoid borrowing from other loan apps to settle your debt with Okash. Instead, pay them back when you have the funds available. You can even stretch out your payments over several months, just make sure to honor your commitment.
- Consider installing Truecaller on your phone to identify and block their calls if you'd rather not engage with them.
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Hc wallet
Loan app agents are notorious for harassing borrowers when payments are delayed. Here's what you can expect if you're behind on a payment:
Harassing Your Contacts: They often send SMS messages to people in your contact list, falsely stating that you owe them money. This tactic aims to pressure you into repayment by embarrassing you in front of family and friends.
Aggressive WhatsApp Messages: If you miss a payment, you're likely to be bombarded with threatening and abusive messages via WhatsApp, sometimes just for being a day late.
Short Repayment Periods: Their repayment terms typically range from 6 to 14 days, which makes it difficult to clear the loan in such a short time, leaving many borrowers trapped in a cycle of debt.
Punishing Interest Rates: Once you're overdue, they may impose daily interest rates between 5% to 7%, quickly escalating your debt and making repayment even harder.
Damaging Your Reputation: Once they've smeared your reputation by contacting your friends and family, repaying them doesn't reverse the damage. Their aim is often more about coercion than legal recovery.
No Legal Recourse: These apps often operate without proper licensing, meaning they have no legal standing to take action against you. Their primary weapon is tarnishing your reputation.
Avoid Borrowing to Repay: Borrowing from other loan apps to settle existing debts will only worsen your financial situation, pushing you into a deeper debt trap.
Block Their Calls: Use apps like Truecaller to identify and block their incessant calls. This helps reduce the stress and harassment.
Stop Borrowing: The most effective way to escape the clutches of loan sharks is to stop borrowing altogether. Break the cycle by finding alternative ways to manage your finances.
Report and Block Them: Block these agents on WhatsApp and report them to the platform. Also, file a report on the Google Play Store to help prevent others from becoming victims of their tactics.
Staying vigilant and avoiding these unlicensed loan apps is crucial to protecting your financial well-being and personal reputation.
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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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