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  Cash mama

  Category: Dangerous Loan

  Interest rate: 35%

  CashMama Loan Practices: A Cautionary Guide

  Aggressive Communication Tactics: CashMama employs intrusive methods to pressure borrowers. They will send SMS messages to your contacts, falsely claiming that you owe them money. This not only invades your privacy but also creates tension in your relationships as your contacts may believe the misleading claims.

  Unrelenting Social Media Harassment: If you fall behind on your payments by even a single day, brace yourself for a barrage of distressing messages on WhatsApp. Their aggressive tactics can lead to significant emotional stress as they inundate you with reminders and threats.

  Short Repayment Periods: CashMama typically imposes repayment schedules that last anywhere from 6 to 14 days. This short window makes it exceptionally difficult for borrowers to manage their finances effectively and settle their debts without undue strain.

  High Overdue Interest Rates: Be prepared for daily overdue interest rates ranging from 5% to 7%. These exorbitant rates can quickly accumulate, exacerbating your financial situation and leading you further into debt.

  Reputational Damage: Once CashMama tarnishes your reputation, their primary goal is achieved, and they may no longer require repayment. The damage to your creditworthiness and personal relationships can have long-lasting effects, leaving you vulnerable in future financial dealings.

  Lack of Legal Recourse: CashMama operates without a proper license, which means they cannot pursue legal action against you in case of non-repayment. Their only strategy is to undermine your reputation, relying on intimidation rather than legal means to collect debts.

  Avoid Debt Cycling: If you find yourself in debt to CashMama, refrain from borrowing from other loan apps to pay them off. This approach can create a vicious cycle of debt, making your financial situation even more precarious.

  Screening Calls for Peace of Mind: Utilize apps like Truecaller to identify and block calls from CashMama. This proactive measure can help you avoid unnecessary stress and intrusive communication.

  Breaking Free from Loan Sharks: The most effective way to liberate yourself from the grip of loan sharks like CashMama is to stop borrowing altogether. Committing to a debt-free lifestyle can protect you from future financial predicaments.

  Take Action Against Their Practices: Protect yourself and others by blocking CashMama on WhatsApp. Additionally, report their practices to both WhatsApp and the Google Play Store. This helps raise awareness and prevents other potential victims from falling into their deceptive schemes.

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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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