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  Lendmax

  Category: Mild Loan

  Interest rate: 45%

  1. They may send SMS notifications to your contacts, falsely stating that you owe them money.
  2. Be prepared for a barrage of unpleasant messages on WhatsApp if you miss even a single payment.
  3. Their repayment terms usually range from 6 to 14 days, which can make it incredibly difficult to pay off your debts.
  4. Expect daily late fees that can vary from 5% to 7%, further complicating your financial situation.
  5. Once they damage your reputation, their goal is accomplished, and they may no longer pursue repayment.
  6. Lacking a proper license, they are unable to take legal action against you; their strategy primarily involves reputational harm.
  7. Avoid the temptation to borrow from other loan apps to pay off these debts, as this could exacerbate your financial troubles.
  8. Use Truecaller to identify and block their calls, helping you to avoid unnecessary stress.
  9. The best way to free yourself from predatory lending practices is to stop borrowing entirely.
  10. 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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  Ease Cash

  Category: Dangerous Loan

  Interest rate: 40%

  Let's discuss the Ease Cash lending service and its implications for borrowers. Firstly, it's important to note that this lending platform operates differently from traditional financial institutions. Here are some key points to consider:

   

  Ease Cash may resort to contacting your acquaintances via SMS if you have outstanding debt with them.

   

  In the event of even a one-day delay in repayment, Ease Cash might send disparaging messages to your WhatsApp contacts.

   

  Their repayment plans typically range from 6 to 14 days, which can pose challenges for borrowers.

   

  Overdue interest rates fluctuate between 2% and 7% per day, potentially leading to a cycle of increasing debt.

   

  Refraining from repayment won't deter Ease Cash; instead, they may resort to defaming tactics to retrieve their funds.

   

  These loan apps lack proper licensing, limiting their recourse to defamatory actions as their primary means of enforcement.

   

  Borrowing from another loan app to settle debts with Ease Cash can exacerbate financial troubles, potentially leading to bankruptcy.

   

  Truecaller can help identify and block unwanted calls from Ease Cash and similar entities.

   

  Ultimately, the most effective way to break free from the grip of loan sharks like Ease Cash is to cease borrowing altogether.

   

  Blocking their communication channels on WhatsApp and reporting their activities on platforms like WhatsApp and Google Play Store can help mitigate their influence.

   

  Remember, your integrity and financial well-being are paramount; avoiding further borrowing is crucial to reclaiming control over your finances.

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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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