What happens if I give LoanMax my contacts?

LoanMax asks for references on their application forms. Here is exactly what happens:

If you provide contacts voluntarily (as references on the loan application):

• They store these numbers in their collection database
• If you default, they will call these numbers repeatedly
• Callers may identify themselves as "looking for you regarding an urgent financial matter"
• Your contacts become uncomfortable and may stop answering unknown calls

If a fake LoanMax app scrapes your contacts without permission:

• They have your entire phonebook
• They may mass-text your contacts: "Your friend [Your Name] is a deadbeat who didn't pay their loan"
• They may use photos for blackmail or public shaming on social media
• Your contacts' numbers are sold to other scammers

What You Can Do:

• For real LoanMax: Tell your references to say "I do not know this person" and hang up. You cannot withdraw consent once given, but you can ask LoanMax to remove numbers (they rarely do).
• For any loan app: Never grant contacts permission. If you already did, factory reset your phone.