Why you should avoid Loan Shark Apps

I'm not interested in loans from unsolicited and unlicensed loan apps.

Read my response to Easeloan - an online loan shark begging me to come and collect loan  

Thank you for your message, however I'm not interested in loans from unsolicited and unlicensed loan apps.

Having gone through previous disgrace and embarrassment, I have vowed NEVER to have anything to do with loan apps for the following reasons.

1. They're unreliable

2. They are wicked, they are sharks

3. Abnormal high interest rate up to 70% (even banks can't charge you such interest rate)

4. They use embarrassment strategy to recover money thereby putting their customers in shame and danger

5. They collect customers data and most times the data is unsecured

6. They only borrow customers small amout only within 7days and expect the customer to pay back 2x of the money, they are very greedy loan sharks.  

7. Loan app/sharks are only out there to exploit Nigerians.

8. We have been warned by CBN and FCCP and NAPTIP to stay off loan sharks like Easeloan.  

With this few points, I hope I have been able to convince you that I don't need your loan, I'm wiser now.

Take your loan to your friends and family NOT ME.