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  Truemoney

  Category: Dangerous Loan

  Interest rate: 42%

  Here's the scoop: once you borrow money from them, they start sending SMS to everyone in your contacts saying you owe them money. It's quite embarrassing and can lead to some uncomfortable conversations.

   

  And it doesn't stop there. If you're just one day late on your payment, they bombard your WhatsApp with all sorts of disrespectful messages. It's definitely not a pleasant experience.

   

  Their repayment plans aren't exactly easy either. They usually give you somewhere between 6 to 14 days to pay back, which can be quite challenging, especially with their high interest rates.

   

  Speaking of interest rates, if you're late on a payment, they hit you with a pretty hefty interest rate, sometimes as much as 5% per day! This can quickly lead to more debt piling up.

   

  Now, here's something to keep in mind: they're not even licensed! They can't legally do much to you besides trying to ruin your reputation by spreading lies about you.

   

  Whatever you do, don't make the mistake of borrowing from another loan app to pay them back. It's a vicious cycle that can leave you bankrupt. Plus, they have many different apps out there, so you might end up borrowing from them again without even realizing it.

   

  Here's a tip: consider installing Truecaller on your phone. It can help you identify who's calling so you can avoid their calls and block them from contacting you.

   

  But the ultimate solution to avoid getting caught up with loan sharks like Truemoney is to simply stop borrowing from them altogether. Block them on WhatsApp, and report them on WhatsApp and Google Play store if necessary. Remember, you were managing fine before they came along. Don't let them tarnish your integrity or financial well-being.

• 

  Freshmoni

  Category: Dangerous Loan

  Interest rate: 45%

  1. They will send SMS messages to your contacts, claiming that you owe them money.
  2. Prepare yourself for an onslaught of unpleasant WhatsApp messages if you are even a day late.
  3. Their repayment schedules typically range from 6 to 14 days, making it extremely challenging to settle your debts.
  4. Anticipate daily overdue interest rates ranging from 5% to 7%, pushing you further into debt.
  5. Once they tarnish your reputation, there is no need to repay them. They have already achieved their goal.
  6. Since they lack a license, they are unable to pursue legal action against you. Their sole tactic is to damage your reputation.
  7. Avoid borrowing from other loan apps to clear your debts; this will only worsen your situation.
  8. Utilize Truecaller to screen and block their calls, sparing yourself unnecessary stress.
  9. The most effective way to break free from loan sharks is to cease borrowing altogether.
  10. Block them on WhatsApp and report them directly to WhatsApp and Google Play Store to prevent others from falling victim to the same scheme.

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Step by step guide to break free from loan apps

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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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