Expert Review
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Swift naira
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.
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9Credit
Let's address 9Credit and its operations. To begin, it's essential to understand that regardless of the loan amount provided, repayment must occur within a maximum period of 7 days, as their repayment tenure does not exceed this timeframe.
Moreover, instead of directly contacting you about outstanding debts, 9Credit opts to send SMS notifications to your contacts, informing them of your indebtedness. Additionally, if you fail to meet repayment deadlines, they resort to sending disparaging messages via WhatsApp to your contacts, starting as soon as one day after the due date.
Typically, their repayment plans span from 6 to 14 days, presenting challenges for borrowers in meeting their financial obligations. Adding to the burden is the high overdue interest rate, ranging between 5% to 7% per day, which can quickly escalate your debt.
It's important to refrain from repaying them once they resort to defaming you, as this only serves to enrich them. Despite being unlicensed loan apps, 9Credit and similar services lack legal authority. Their primary recourse is to tarnish your reputation.
Attempting to borrow from other loan apps to repay 9Credit only worsens your financial situation. Given their multiple apps available on mobile app stores, borrowing from another source may inadvertently lead to borrowing from them again, plunging you into further debt.
Consider installing Truecaller on your mobile device to identify and block their calls, providing a measure of protection. Additionally, blocking them on WhatsApp and reporting their activities directly on WhatsApp and Google Play Store can serve as deterrents.
Ultimately, the most effective solution to break free from the grip of loan sharks like 9Credit is to cease borrowing altogether. By taking control of your finances and avoiding further indebtedness, you can safeguard your financial well-being in the long run.
Step by step guide to break free from loan apps
What you should know
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Any loan sharks that defame are never linked to the credit bureau in anyway and all they say to you are lies.
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Loan shark money cannot help solve anybody matter to better 40% - 70% in 7 days, they are simply misery compounders!! Do away with them.
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Loan Apps major aim is to make outrageous profit from people and render people bankrupt. Dont be a victim
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