Expert Review
-
Tloan
Tloan, These guys might seem like a quick fix, but trust me, they can turn into a major headache. Here's the lowdown on why you should steer clear:
1. Shameful Tactics: Forget polite reminders. These apps blast your contacts, painting you as a defaulter even after a day's delay. They might even spam your WhatsApp with nasty messages, tarnishing your reputation in a heartbeat.
2. Crushing Deadlines: They offer loans with super-short repayment periods, like 6-14 days. It's like setting you up to fail, leading to...
3. Debt Spiral: Their insane interest rates (think 2% to 7% per DAY!) trap you in a cycle of debt. Borrowing from another app to pay them off? Bad idea. You'll just end up deeper in their clutches.
4. Empty Threats: Don't let their bullying tactics scare you. These apps often operate outside the law, so their threats are mostly just noise. They can't really do anything to you, except try to shame you.
5. Breaking Free: Here's the key: stop borrowing. It's tough, but it's the only way to escape their grip. Remember, you survived before they came along. You can do it again.
Here's your action plan:
- Install Truecaller: Identify and block their calls.
- Block them on WhatsApp: Cut off communication.
- Report them: Flag them on WhatsApp and the app store.
- Seek help: Talk to trusted friends or family, or consider professional financial advice.
Remember, your dignity and peace of mind are worth more than any quick loan. Don't let these loan sharks drag you down. Take back control and build a brighter future, one step at a time.
-
Fitloan
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.
-
.webp)
Nice naira
Protect Your Privacy: If you downloaded the app outside of the Play Store, it likely means you've granted them access to your contacts by giving them permission. In this case, it's important to protect yourself. You can generate your own disclaimer here:
Create Your Disclaimer.Beware of Loan Agent Scams: Before falling for loan agents in any group, take the time to learn how they operate. Read about how some agents scam people through Facebook groups:
Learn About Loan Agent Scams.Clearing Your Contacts: Is it possible to clear your contacts from a loan app's database? Find out the truth behind this claim:
Clearing Your Contacts.Ignore Harassing Messages: If the loan company has contacted your friends or family, stay calm. You don't owe them any more than you've agreed to. Focus on moving forward with your life.
Unlicensed Apps Can't Harm You: Apps that resort to defamation are often unlicensed and powerless. They can't legally harm you, and their main tactic is shaming.
Your Contacts Can’t Help You: In most cases, your contacts can't assist you, and they likely already know how loan sharks operate.
Avoid Short-Term Loans: Short-term loans with high interest rates (such as those with 7-day durations) often come with threats and defamation tactics. Stick to licensed lenders if you must borrow.
Debt Can Lead to Bankruptcy: Borrowing from unscrupulous apps can ruin your finances and push you towards bankruptcy. The best strategy is to stop borrowing altogether.
Don’t Pay Overdue Interest: If you’ve already paid back the principal and initial interest, you don't have to pay additional overdue interest.
Avoid the Debt Cycle: Taking out a loan to repay another only leads to more debt. Many loan sharks operate multiple apps, trapping borrowers in a cycle of debt.
Use Truecaller to Block Harassment: Install Truecaller on your phone to block unwanted loan shark calls. You can also report these numbers on WhatsApp and Google Play Store.
Break Free from Loan Sharks: The best way to escape is to stop borrowing from them. You survived without them before—don’t let them damage your reputation.
Prioritize Your Financial Health: Remember, your financial well-being is more important than any loan. Don't let loan sharks jeopardize your future. Stay strong and focused!
-
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.
-
Link credit
It might seem like a fast fix, but there are some things to consider that could turn into a major headache. Trust me, you don't want that!
Public Shaming? Not Cool!
These guys might play dirty. If you're even a day late on a payment, they could blast embarrassing messages about your loan to your friends and family. Imagine your phone blowing up with texts saying you owe money! Yikes!
Short Fuse, Big Charges:
They often give you super short deadlines to repay, like 6 to 14 days. That's barely enough time to make coffee, let alone gather the cash, especially if you're already strapped. And here's the kicker: if you miss that deadline, the interest rates go crazy, jumping 2% to 7% every single day. Ouch! That's a recipe for drowning in debt, not climbing out.
Don't Reward Shame with Payment:
Here's the key: if they resort to public shaming, DON'T PAY THEM BACK! They already got their revenge by embarrassing you. Remember, these apps often operate outside the law, so their threats are mostly smoke and mirrors. Don't let them bully you!
Break Free from the Cycle:
The only way to truly escape their grip is to STOP BORROWING from them altogether. I know it's tough, but trust me, it's better than being constantly harassed and stuck in a cycle of debt. You were living before they came along, and you'll find a way again. Be resourceful, be patient, but don't borrow anymore!
Fight Back and Protect Yourself:
To stay safe, use apps like Truecaller to identify their calls and block their numbers. You can also report them directly to WhatsApp and the app store. Let them know their tactics are unacceptable!
Your Worth is Greater Than a Loan:
Remember, your self-respect and well-being are worth more than any quick loan. Don't let LinkCredit or any other app bully you. By staying informed and taking action, you can break free and get back to living life on your own terms. You've got this!
Remember, there are other options. Talk to trusted friends or family, or seek help from organizations that offer financial counseling and support. Don't let loan apps trap you in a cycle of debt and shame. You deserve better!
-
Kashon
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.
-
Topchance
If you're considering borrowing from TopChance or are already a borrower, it’s crucial to understand some key aspects of repayment and how to protect yourself. Here’s what you need to keep in mind:
1. Unregistered Loan App
TopChance is not a registered loan provider, which means they may not adhere to the legal guidelines and regulations set by authorities. This could result in unethical practices, so it's important to be cautious when dealing with them.
2. Derogatory Messages to Contacts
If TopChance has sent offensive or disrespectful messages to your contacts, do not panic. While this behavior is both harmful and embarrassing, it is often used as a tactic to collect repayment through fear and pressure. Do not feel obligated to repay them under such circumstances. You can tell them you're prepared to handle the matter in court if they ask for repayment.
3. Defamation and Reputational Damage
If your reputation has already been tarnished by derogatory messages from TopChance, repaying them will not undo the damage that’s been done. At this point, the harm has been inflicted, and paying them back may provide little benefit in restoring your reputation.
4. Install TrueCaller for Spam Protection
To help identify and block unwanted calls from TopChance, you can install the TrueCaller app. This app identifies and blocks spam calls, providing a layer of protection from harassing calls.
5. Block Auto Debit from Your Bank Account
To prevent TopChance from automatically debiting funds from your bank account, it’s essential to block your bank card. Simply visit your bank and request a new card to prevent any unauthorized deductions.
6. Block and Report on WhatsApp
If you are receiving harassing messages from TopChance on WhatsApp, block their contact. In addition to blocking, you should also report them to WhatsApp so the platform can take action against their account and alert others about their behavior.
7. Report to App Stores
If TopChance is listed on the Google Play Store or Apple iOS Store, report the app to the store. By doing so, you’re helping others become aware of their harmful behavior, and it may even result in the removal of the app from these platforms.
Protect Yourself from Unethical Practices
Taking these actions can help protect you from further harm or harassment by TopChance. Whether it's blocking calls, auto-debits, or taking legal steps, you have the power to safeguard your financial well-being and reputation.
Join our Facebook Group
What you should know
-
Any loan sharks that defame are never linked to the credit bureau in anyway and all they say to you are lies.
-
Loan shark money cannot help solve anybody matter to better 40% - 70% in 7 days, they are simply misery compounders!! Do away with them.
-
Loan Apps major aim is to make outrageous profit from people and render people bankrupt. Dont be a victim
What people are saying
Add a review
Your comment could save a life! Share your experience with loan apps and help others escape the clutches of Loan Shark Apps.
