Expert Review
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iCredit
Instead of directly informing your contacts about your debt, they opt for sending SMS messages to them, indicating that you owe money. Additionally, if you miss your repayment deadline by just one day, iCredit begins sending derogatory messages via WhatsApp to your contacts.
Their repayment plans typically range from 6 to 14 days, making it challenging for borrowers to meet their obligations. What exacerbates the situation is their high overdue interest rates, which can range from 5% to 7% per day, leading to further accumulation of debt.
It's crucial to refrain from repaying them once they tarnish your reputation, as this only serves to satisfy their agenda. Since they are unlicensed loan apps, iCredit and similar services lack legal recourse and rely primarily on defamation as their tool of coercion.
Attempting to borrow from other loan apps to settle your debts with iCredit is not advisable, as it could lead to bankruptcy. They have numerous apps on mobile app stores, making it easy to inadvertently borrow from them again and plunge further into debt.
To protect yourself from their persistent efforts, consider installing Truecaller on your mobile device to identify and block their calls. Additionally, blocking them on WhatsApp and reporting their activities directly on both WhatsApp and Google Play Store can help deter their actions.
Ultimately, the most effective solution to break free from loan sharks like iCredit is to cease borrowing altogether. By taking control of your finances and avoiding further indebtedness, you can safeguard your financial well-being in the long run.
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Oyescredit
No Public Shaming, But Gentle Nudges: They won't blast your contacts like some loan sharks, but expect friendly (or not-so-friendly) reminders to pay up. Remember, open communication is key, so talk to them about your repayment plan if needed.
Overdue Fees: Pay or Don't, It's Up to You: Like most loan apps, they charge extra for late payments. But here's the twist: once you pay the original loan and regular interest, you don't have to pay the late fees. Sounds good, right? Just remember, paying them all off helps your credit score.
Block Annoying Calls (But Maybe Don't): If their reminders feel like harassment, use Truecaller to block their numbers. However, blocking completely might shut off potential repayment solutions.
Say NO to the Debt Spiral: This one's crucial! Only use OyesCredit if you're 100% sure you can repay on time. Borrowing from another app to pay them is a recipe for disaster!
Truecaller for Selective Blocking: You can use Truecaller to identify and block their calls if needed. But remember, clear communication is often better than shutting them out completely.
Your Options Are Wide Open: Don't feel pressured to borrow if you're not comfortable. Explore other solutions like budgeting, finding extra income, or seeking financial advice before jumping into any loan, even one with "secure savings" in the name.
Your Well-being is Top Priority: Remember, your financial peace of mind and good credit score are crucial. Use OyesCredit responsibly and only if you understand their terms, interest rates, and repayment options. It's always best to borrow what you can truly afford to pay back.
In the end, there's no magic app for instant wealth. Be cautious, make informed decisions, and remember, you have options beyond loan apps!
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Cashmama
They'll shoot off SMS to your contacts, saying you owe them money.
Brace yourself for a barrage of nasty WhatsApp messages if you're just a day late.
Their repayment plans usually last between 6 to 14 days, making it a real struggle to pay up.
Expect overdue interest rates of 5% to 7% per day, pushing you deeper into debt.
Don't bother paying them back once they tarnish your name. They've already got what they wanted.
Since they're not licensed, they can't take legal action against you. Their only weapon is to smear your reputation.
Avoid borrowing from other loan apps to settle your debts; you'll only dig yourself into a deeper hole.
Use Truecaller to screen and block their calls, sparing yourself unnecessary stress.
The best way to break free from loan sharks is to stop borrowing altogether.
Block them on WhatsApp and report them directly to WhatsApp and Google Play Store to protect others from falling into the same trap.
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RealCredit
Overdue Fees: Pay or Don't, It's Up to You: Like most loan apps, they charge extra for late payments. But here's the twist: once you pay the original loan and regular interest, you don't have to pay the late fees. Sounds good, right? Just remember, paying them all off helps your credit score.
Block Annoying Calls (But Maybe Don't): If their reminders feel like harassment, use Truecaller to block their numbers. However, blocking completely might shut off potential repayment solutions.
Say NO to the Debt Spiral: This one's crucial! Only use RealCredit if you're 100% sure you can repay on time. Borrowing from another app to pay them is a recipe for disaster!
Truecaller for Selective Blocking: You can use Truecaller to identify and block their calls if needed. But remember, clear communication is often better than shutting them out completely.
Your Options Are Wide Open: Don't feel pressured to borrow if you're not comfortable. Explore other solutions like budgeting, finding extra income, or seeking financial advice before jumping into any loan, even one with "secure savings" in the name.
Your Well-being is Top Priority: Remember, your financial peace of mind and good credit score are crucial. Use RealCredit responsibly and only if you understand their terms, interest rates, and repayment options. It's always best to borrow what you can truly afford to pay back.
In the end, there's no magic app for instant wealth. Be cautious, make informed decisions, and remember, you have options beyond 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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