Expert Review
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Sokoloan
When dealing with Sokoloan, the most notorious of all dangerous loan apps, it's crucial to understand the intricacies of repayment. Here's what you need to know:
Unregistered: Sokoloan operates without proper registration as a loan app. This means they operate outside legal guidelines and regulations Though they are a registered company in Nigeria, they have many apps that are not traced to the company.
Derogatory Messages: Sokoloan is notorious for sending disrespectful or offensive messages to your contacts. This behavior can be harmful and embarrassing. Once they resort to such tactics, it's clear they've collected their money and any further payment may not undo the damage. If they demand payment, be prepared to challenge them legally.
Defamation: Sokoloan is infamous for tarnishing borrowers' reputations, even before their due date arrives. Their actions can have lasting consequences, making repayment futile.
Install TrueCaller: Protect yourself from Sokoloan's harassing calls by installing TrueCaller, an app that identifies and blocks spam calls.
Block Auto Debit: Prevent Sokoloan from automatically debiting your bank account by blocking your bank card. Visit your bank to request a replacement card.
Block on WhatsApp: Block Sokoloan's contact on WhatsApp to stop receiving messages. Additionally, report their behavior on WhatsApp to alert the platform.
Report to App Stores: If Sokoloan has multiple apps on platforms like Google Play Store, report them to the respective app stores. This helps warn others about their behavior and may lead to the removal of their apps.
Taking these steps is crucial to safeguard yourself from further harassment or harm by Sokoloan.
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Gocash
Let's discuss Gocash, which is operated by the Sokoloan company and is notorious for sending derogatory messages to your contacts.
When you owe them money, Gocash doesn't hesitate to send SMS messages to your contacts, alerting them of your debt. Moreover, even if you miss your repayment deadline by just one day, they start bombarding your WhatsApp contacts with disparaging messages.
Their repayment plans typically range from 6 to 14 days, making it challenging for borrowers to meet their obligations. Coupled with high overdue interest rates, ranging from 5% to 7% per day, Gocash can quickly escalate your debt burden.
It's important not to repay them once they tarnish your reputation, as this only serves to fulfill their agenda. Due to their lack of licensing, these loan apps are limited in their options and resort to defamation as their primary means of coercion.
Attempting to borrow from other loan apps to settle your debts with Gocash is risky, as they have multiple apps on mobile app stores. This could potentially trap you in a cycle of indebtedness, leading to serious financial consequences.
To protect yourself from their tactics, consider installing Truecaller on your mobile phone 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 mitigate their actions.
Ultimately, the most effective solution to break free from loan sharks like Gocash is to stop borrowing altogether. By taking control of your finances and avoiding further indebtedness, you can safeguard your financial well-being in the long term.
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Okash
- Okash is a legit and authorized loan app, so you're in safe hands.
- They won't tarnish your reputation or spread rumors about you.
- If you default on your payments, they'll take the necessary steps and report the matter to the appropriate authorities.
- While their overdue interest rates are fair, you have the option to skip paying them back once you've settled the principal and initial interest.
- Avoid borrowing from other loan apps to settle your debt with Okash. Instead, pay them back when you have the funds available. You can even stretch out your payments over several months, just make sure to honor your commitment.
- Consider installing Truecaller on your phone to identify and block their calls if you'd rather not engage with them.
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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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