Expert Review
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9Money
Let's discuss 9Money and its operations. Firstly, it's important to note that this platform is owned by Sokoloan company and is notorious for sending defamatory messages to your contacts.
Instead of directly informing you of your outstanding debt, they resort to sending SMS messages to your contacts, informing them of your financial obligations. Moreover, they escalate their tactics by sending derogatory messages via WhatsApp, starting as early as one day after your repayment deadline.
9Money typically offers repayment plans spanning from 6 to 14 days, which can pose a significant challenge for borrowers to fulfill. Adding to the burden is their exorbitant overdue interest rates, ranging from 5% to 7% per day, which can swiftly spiral borrowers into deeper debt.
It's imperative not to succumb to their demands for repayment once they besmirch your reputation. Their primary leverage stems from defamation, as they lack legal authorization as loan apps. Attempting to borrow from other loan apps to repay them only exacerbates your financial predicament, as you might inadvertently find yourself borrowing from them again, perpetuating a cycle of indebtedness.
To shield yourself from their incessant harassment, consider installing Truecaller on your mobile device to identify and block their calls. Additionally, take proactive measures by blocking them on WhatsApp and reporting their activities directly on WhatsApp and Google Play Store.
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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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