Does this mean all loan apps on the Play Store do not have access to user contacts?

Answer: Almost all, except for high-profile companies. Google revised its policy a few months back. All money-lending apps that wish to be published on the Play Store must not include "Contact Permission" in their app. If they do, Google will remove the app. For new apps, Google will prevent them from going live if they include contact access permissions.

Were loan apps wrong in giving you a loan?

YES! They were wrong by:

1. Operating illegally within Nigeria and exploiting people. Under the Money Lending Code of Conduct, lenders should not charge more than 50% interest per year, yet they charge as much as 60% in just 7 days.
2. They are wrong by charging a 5% daily interest on overdue payments.
3. They are wrong in sending defamatory messages to customers' contacts.
4. Engaging in cyber-bullying.
5. They are wrong in placing curses on their customers.
6. Operating without a traceable office, making it difficult to sue them in a court of law.
7. Selling customers' data among many others.

Many people may not know their rights, but I DO, and I will educate as many people as are willing to learn.

They are right when they do the needful!

There are many reputable loan apps that will not defame or cyberbully you; instead, they will report you to the credit bureau. Therefore, we strongly advise people to repay their loans.

Why You Must Stop Borrowing

30-Day Loan Apps

At 40% per month, if you borrow ₦100,000, at the end of one year, you will have paid 480% in interest.

Example: If you borrow ₦100,000 per month, by the end of one year, you will have paid ₦480,000 in interest.

7-Day Loan Apps

At 40% per week, if you borrow ₦100,000, at the end of one year, you will have paid 1,920% in interest.

Example: If you borrow ₦100,000 per month, by the end of one year, you will have paid ₦1,920,000 in interest. If you stop paying, they will tarnish your image.

Can you see why the poor remain poor? The financially illiterate among us will say, "After all, Nigeria owes trillions of dollars," but they forget that the interest rate is less than 5% per year, and bank loans have interest rates of less than 15% per year. No one can ever succeed in borrowing from loan apps, The business is set up to exploit and ruin your finances. If you like, continue to borrow

I need help I want to stop borrowing loan apps

Congratulations on deciding to stop borrowing from loan apps—this is a crucial step toward regaining control of your finances! Constant borrowing can lead to a cycle of debt and ruin your financial stability. Take a moment to give yourself a break, especially if you have been under the burden of debt for a while. It’s important to realize that no matter how challenging it seems, stopping now will save you from future stress and financial trouble.

If these loan apps have defamed or harassed you, it's essential to stop paying immediately. Continuing to pay after defamation only empowers them to further exploit you. Focus on cutting off these toxic financial practices and start planning for a debt-free future. You are not alone in this—many have successfully escaped this cycle, and you can too. Stay strong and committed to your decision.

How do I get rid of loan App messages

Installing the Truecaller app worked like magic. As for WhatsApp messages, train yourself not to read their messages. The moment you read the first line and see that it is from them, stop reading, block the number, and report it to WhatsApp as spam. Do not spend time reading or feeding your mind with nonsense. You become what you read or what you listen to.

Loan Apps keep given me new loan automatically as soon as I pay off the previous loan

Check the settings of the app they have enabled auto-apply for you by default that is why. they are evil. Candid advice is you should stop borrowing from evil loan apps

How can I get my BVN back from Credit bureau if reported by loan apps

No such thing as retrieving BVN back. It simply means a negative report will be canceled. If you have been reported with negative information and have paid the debt for which you were listed, you may contact the loan apps to provide this update to the credit bureau or apply to the credit bureau and request for this update to be done. Either course requires the loan apps or credit grantor to provide this update to the bureau. The key here is for the update to happen as names are not typically removed from the credit bureau database.

Can my BVN be blacklisted by Loan Apps

Your BVN cannot be restricted is like saying your NIN or birth certificate is restricted. BVN is like a global identifier that connects all your bank details. For example, with your BVN, CBN can access all your financial records, including all your bank accounts, the amounts, and all your transactions (Note that this privilege is exclusive to CBN and its agents only). Loan apps use such language to instill fear in you. Essentially, what they mean is that they will report to the Credit Bureau, and you will not be able to obtain a loan from other financial institutions or money lenders.

I receive daily messages from them what can I do

Stop reading messages from agents; it will only instill fear in you and lead to perpetual depression. Never listen to their voice notes or read their messages. You are only harming yourself by doing so. Consider this: do you expect them to send something favorable when they are uneducated and worse than Boko Haram? They have been trained like dogs, and you shouldn't expect anything good from them.

Stages you will go through with Loan apps that defame

Stage 1: Continuous threatening messages from loan apps Chinese dog (Agents). Some of their dogs(agents) will even act as your friends and tell you that you should remove his/her name as your guarantor.

Stage 2: Initial defamation: Messages will be sent to 10 - 50 people, depending on the loan app.

Stage 3: Negotiation stage: They will call you to negotiate, suggesting you pay the initial interest and capital while they waive the overdue interest.

Stage 4: Apology: You may receive a call apologizing for the misconduct of one of their agents, with a promise to send an apology letter to your contacts when you pay.

Stage 5: Final defamation: Messages sent to all your contacts, typically around 200, depending on the loan app. Each message costs around 20 naira, so they try to avoid further losses.

Stage 6: Yipee! You are now free: You are now free from loan sharks.

Remember never to read their messages; the more you read, the more harm (K*11ing) you do to yourself, and the deeper depression may set in.

What you need to know about Auto-Debit

It amazes me why some people still cling to outdated knowledge and brag about it.

Just think about it yourself

Does Global Standing Instruction (GSI) exist in Nigeria: YES

Does Credit Bureau Syste exist in Nigeria: YES

Which company can access GSI: Banks & Financial Institutions through The Nigeria Inter-Bank Settlement System (NIBSS)

Who can report bad debt to the Credit Bureau: Approved Financial Institutions and Banks

Are you suggesting that all loan apps can report to credit bureaus? Not at all. More than 80% of them are not licensed, so they cannot report, which is why they defame. However, sooner or later, after they have exploited Nigerians, they may decide to register. Registration costs barely "100 million naira (Not sure).

If approved and Licensed loan apps come together and file reports of inflated figures to the CBN, claiming they've lost x amount of billions Naira to customers, do you think the CBN will simply say, 'You see, you have to forget about the money'? Certainly not.

Who are the customers? Common and low-class Nigerians.

Does it affect the rich people? Not at all. They don't even know such apps exist. they can even sack their staff because of it.

Who is fighting for the masses? No one. They are all scattered across social media and suffering from the onslaught of loan apps.

Do they report to FCCPC? Less than 0.5%. The rest accept it as fate.

I have tried many loan apps, but none of them want to lend to me. Please, what could be the problem, and what should I do?

I advise you to stay away from loan apps. The end result is that you'll end up defamed. You cannot achieve anything meaningful with their money because it's cursed and tainted with blood. They have caused the deaths of many people. You were living before loan apps existed, and you can survive without them. In the last two years, I have not borrowed from any loan apps. Look elsewhere for money (Bank, microfinance, LAPO).

I have blocked my ATM card, so why is it that they can still auto-debit my account

Companies like Branch, Newedge (owner of EasyBuy, Palmcredit, Xcash, Newcredit, and 12 others) are fully approved by both the Central Bank of Nigeria (CBN) and the Federal Competition and Consumer Protection Commission (FCCPC). Recently, they've partnered with banks in Nigeria. Even if you block your ATM card, they can still debit your account. Your options now are to either open another account or transfer your funds to a different bank. Auto-debiting by Newedge company won't affect older customers, but if you borrow from them after they have received full approval, they're authorized to auto-debit your account. With 222 loan apps approved by the FCCPC, your only viable option is to refrain from borrowing.

Should I borrow loan apps with 7 or 14-day payback tenure

Any loan apps with a 7 or 14-day payback tenure will defame you. My advice is that you should not pay back and let them defame you, then part ways. Paying back is just a waste of time and money. The pressure will compel you to go and borrow from another loan app.

Can loan apps track me or come to my house?

No, loan apps are essentially criminals on the run. Can criminals track people? Obviously not. They are aware of the atrocities they have committed, hence they need to evade authorities. Their operations are entirely online, and everything concludes online. So, don't worry. All your transactions are online.

Can a loan app get my contact details from another loan apps under them that I have used before?

Yes! If you borrow from apps owned by the same company, for example, Palmcredit owns Newcredit, XcrossCash, Xcash, Easybuy, Palmcredit, and 12 others, they can easily access your data. Most loan apps consist of multiple apps controlled by the same set of agents. For instance, one agent may work across five different apps. Some of these agents are even criminals; they join all groups related to loan apps and falsely claim that they can wipe user contacts from all databases when in reality, they only have access to the companies' apps, not all apps

Loan Apps have defamed me. What can I do next?

Put simply: Never repay the money. This implies that they are the ones who owe you. Under the Nigerian constitution, character assassination or defamation attacks warrant a compensation of 5 million naira. Simply archive their messages and do not bother yourself; their money is gone. Repaying them would indicate you are ignorant and foolish, and it would empower them to continue their actions.

Can loan apps come to my house?

No, except if you borrow from a Microfinance bank or RenMoney. Renmoney only lends money to customers in Lagos and Abuja, so during registration, they will likely ask for your residential and office address. As for other loan apps, they cannot visit your house. They operate covertly and are feared; even the government is pursuing them. People are seeking them out to punish them severely. They cannot come to your house or office. The only weapon they have is to defame and as for licensed ones, they can only report you to the Credit Bureau.

Can loan apps defame me on social media?

Yes! But not all loan apps do that; it's generally common among BG Loan apps and their cohorts. But don't worry about loan apps sharing your photos on social media. It's just to instill fear in you. If you check the user's profile, they don't have up to 50 followers, which means they are just circulating your pictures among themselves. They will not use their real account, so no worries. Simply block them when they tag you.

I have been defamed, and messages were sent to all my contacts. What can I do?

Put simply, never pay back their money. Let them go and collect it from your contacts. The moment you pay them back, you empower them to do more harm to others. Besides, there's a sure guarantee that you'll win the case in court and receive a reward of 5 million naira. Once they defame you, do not pay back again, close the chapter and start a new life.

Can Loan Apps block my Bank Account?

No, what they do is call or use USSD to contact the bank and pretend that you've lost your phone and card. They ask the bank to restrict the account to prevent unauthorized access. the same way you contact your bank if this happens. Since they have your details. Just walk up to your bank and unblock your account. If they call again, tell them to unlock the account themselves

They sent a message to me that they will block my BVN is it possible?

The Bank Verification Number (BVN) is a unique 11-digit identity number for each individual in the Nigerian Banking industry. BVN ensures secure transactions at any Point of Banking operations in Nigeria. It gives a unique identity that can be verified across the Nigerian Banking Industry, not just specific to one Bank. Once it is issued, it cannot be altered. However, registered Loan apps can report to credit bureaus if you owe them money, and it will end there. The downside is that you will not be able to borrow money from another registered loan app. To answer your question, no one can block your BVN.

How do I know loan Apps that defame?

It is quite easy to identify loan applications that defraud their users. Such apps usually have the following characteristics:

1. They offer loans for a short duration of 7 days
2. They ask for permission to access your contacts
3. They are not available on popular app stores such as Apple Store or Play Store
4. Their interest rates are extremely high, ranging from 30% to 70% for just 7 days.

Is it possible to clear my contacts list from Loan app Databases?

Do not let anybody deceive you that they can help you clear your contact list from their database is just a scam.

Educating people about this process is crucial so they can be well-informed and make informed decisions, rather than being swayed by uncertainty.

Please click the link below to read the full details.

Click to read more about clearing contacts from the Loan Apps database

Are there any good loan apps that will not defame me or send messages to my contact?

Yes! There are plenty of loan apps that will not defame or send messages to your contacts. However, they can report your BVN and your details to the Credit Bureau, which will, in turn, affect your credit score, and you will not be able to obtain a loan from another approved loan app. Do not worry, though; you can pay back gradually, and after 6 months, your credit score will be okay. Note that all loan apps that defame are not licensed and cannot report you to the Credit Bureau.

Click the link below to view the list of loan apps that will not defame you

https://loansharkreview.com/safeloans

How to check if loan app will defame me

Kindly visit this link

https://loansharkreview.com/ReportLoan

Search for the loan apps you want to review and add them to the list. Then, seek expert counsel and ensure you read reviews. Our sincere advice to you is to completely stay away from loan apps, as they have nothing to offer. If you must borrow for an important reason, only stick with safe loan apps

https://loansharkreview.com/safeloans