Expert Counsel

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!

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