Expert Review
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Moneytree mycash
- Be cautious if you receive SMS messages from lenders claiming you owe them money—they may send these to your contacts as well.
- Expect a barrage of unpleasant WhatsApp messages if your repayment is even just one day late.
- Many of these lenders impose short repayment schedules, typically ranging from 6 to 14 days, making it extremely difficult to manage your debts.
- Prepare for daily overdue interest rates between 5% and 7%, which can quickly lead you deeper into financial trouble.
- Once your reputation is damaged, their goal is achieved, and they may no longer expect repayment.
- Without a proper license, these lenders cannot take legal action against you; their primary strategy is to harm your reputation.
- Avoid the trap of borrowing from other loan apps to pay off existing debts, as this can only complicate your situation further.
- Use Truecaller to screen and block calls from these lenders, reducing your stress and anxiety.
- The best way to escape the clutches of loan sharks is to stop borrowing altogether.
- Don’t hesitate to block them on WhatsApp and report them to both WhatsApp and the Google Play Store to protect yourself and others from falling victim to their schemes.
Stay informed and make wise financial choices to protect yourself from predatory lending practices.
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Money tree
We will review the apps within the next 48 hours and provide detailed information and also do our background checks
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Somemoney
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.
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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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