Avoid loan apps, a word of advice.

[rhodelmabanal]

From the start i never use loan apps, because loan apps is a business and we the user of that apps makes a creator of the apps a millionaire,loan apps is so very easy to access and very simple to use for just one click away and then we can get a loan without knowing that everytime we get a loan there is always a big interest and it will bring us down slowly.

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[JoyMarsha]

Was your friend expecting the loan app to notify her before taking their money? You can't just take money from a loan app and expect them to first notify you before any deduction is made. Your friend should have known this at the initial before borrowing money from loan apps. Was she expecting them to come to her house to ask for the money they loaned her?

[rahmad2nd]

The convenience provided by the online loan application makes us experience greater difficulties, I recommend borrowing a friend or relative, never borrow in the application, maybe we can and it is easy not to pay for the application but this will make us accustomed to being debtors and dont want to pay.

If we compare borrowing from apps and borrowing from relatives/friends, it is clear that borrowing from relatives/friends is much better. It is recommended to borrow from someone we know well since it will make us easier in negotiating the time for returning the loan. If there is a guarantee of debt, it will also be much safer if it is entrusted to someone who we know very well. It is very different once we borrow from online apps, we don't even know any person who works or owns the loan apps. I'm not really sure whether it is a safe place or not.

urgent need often makes someone ignore the security of personal data. In fact, online loan applications are quite risky, both for the security of our personal data and very high interest rates with a very short payment duration. especially for online loan applications that do not have official legality from the country.
In my country, online loan cases have become mass media news that is quite disturbing to the public. Many debtors cannot pay the loan installments as agreed from the beginning of the loan application. until finally, this case became a hot topic of discussion nationally.
I agree with the OP thread, avoid loan applications if the situation is not urgent, and also like you said, if we can borrow from relatives/friends, that's even better.

[Wiwo]

Your friend's loan would have been on default before the loan company will be able to deduct the loan directly from his bank account. Why your friend did not pay in time? Your friend is to be blamed. Before he loaned money, there is ToS and how the loan will be. Do not loan the amount of money you are not able to get back at a certain period you plan to back the loan.

Just what I was about to ask, in this case, I don't blame the loan company for deducting the money from the account as soon as there was a deposit, the friend account is already on debit from the company before the credits arrived and according to the terms and conditions of the loan to be deducted from the account on the due date and if the loan defaults like the friend did ten some other charges will even be added. In as much as being against loan defaulting, the friend should avoid taking a loan because there are several loan sharks around that are violating their client's rights to this day even to the point of them hacking into customers' phonebook contact and sending them SMS messages so many characters assassinating statement.

[Mahanton]

Your friend's loan would have been on default before the loan company will be able to deduct the loan directly from his bank account. Why your friend did not pay in time? Your friend is to be blamed. Before he loaned money, there is ToS and how the loan will be. Do not loan the amount of money you are not able to get back at a certain period you plan to back the loan.

Just what I was about to ask, in this case, I don't blame the loan company for deducting the money from the account as soon as there was a deposit, the friend account is already on debit from the company before the credits arrived and according to the terms and conditions of the loan to be deducted from the account on the due date and if the loan defaults like the friend did ten some other charges will even be added. In as much as being against loan defaulting, the friend should avoid taking a loan because there are several loan sharks around that are violating their client's rights to this day even to the point of them hacking into customers' phonebook contact and sending them SMS messages so many characters assassinating statement.

If you dont like on being into that situation then you should really had made yourself to be responsible on repaying those loans back so that you wont really be experiencing those assassinating statement which we could really say that it is really bit too much but you cant really blame out people on not to say up things specially when they do keep on chasing you just to remind about the loan that you should need to be paid.
Avoid loans as much as you could and its better to live off a life which is loan free which means you are really having no stress at all when it comes into that matter.If its really needed or
with some emergency then it would be considerable but if you do take up some loan for some useless intent then better skip out.

[Wiwo]

with some emergency then it would be considerable but if you do take up some loan for some useless intent then better skip out.

A loan is the worst way to finance yourself or any project, as you have rightly said one need to avoid loan as much as possible and stay free from them. I have experienced people losing their value to either banks or individuals they enter into loan agreements with but could not meet up with payment. But one of the cases I heard in my country is about a loan firm that steals their client information by hacking into their phonebook without their knowledge and contacting everyone on the contact list which is against the privacy law and punishable under the law.

[dark1234]

In today's digital world, loan advertisements dominate when accessing online media. so that it gives someone easy access to borrow without seeing the risk in the future and not considering the value of an urgent need but rather an economic naivety, in any case borrowing is not a good thing to do unless something urgent and even then must look at the capacity to pay it is not written down wishful thinking and uncertain predictions, so as not to fall into an imbalance in the needs of life in the future

[savetheFORUM]

In today's digital world, loan advertisements dominate when accessing online media. so that it gives someone easy access to borrow without seeing the risk in the future and not considering the value of an urgent need but rather an economic naivety, in any case borrowing is not a good thing to do unless something urgent and even then must look at the capacity to pay it is not written down wishful thinking and uncertain predictions, so as not to fall into an imbalance in the needs of life in the future

I can see them by the time I access an app or a website but they don't stay. Online ads are circulating to give way to the other companies but no doubt that loaning apps are very popular now, I think that is because the life have became tougher lately due to some crisis. Ads are created to spread awareness but it doesn't mean for easy access.

Sure, you can click on the ad and get redirected to that app or website directly but not all are easy to sign up and not all will let you borrow money easily but that is better because that will discourage the person to borrow money. If there are dedicated to complete the process, I think they are sincere and has the ability to pay the loan.

[Dragonfund]

Banks are not assisting clients, which is why Microfinance is attempting to assist individuals in need of a few dollars. If you go to a bank and ask for a loan, they will waste your time, they will also ask for a guarantor, collateral, and other paperwork only for a few loans that they would not offer you at the end of the day. I enjoy how microfinance lending apps are assisting, however the clients are not assisting the system because they do not generally pay back on time or some run away after receiving what they seek.

[Cryptock]

Banks are not assisting clients, which is why Microfinance is attempting to assist individuals in need of a few dollars. If you go to a bank and ask for a loan, they will waste your time, they will also ask for a guarantor, collateral, and other paperwork only for a few loans that they would not offer you at the end of the day. I enjoy how microfinance lending apps are assisting, however the clients are not assisting the system because they do not generally pay back on time or some run away after receiving what they seek.

Banks are only trapping people. They just want to trap people in loans and then telling them they can't help them with interest and penalties.
I have recently been scammed and I took a big loan from the bank - so he ran away and I am in debt - what a horrible mistake I have made.

[Bollexz1]

You could easily get ripped these days by collecting loans from all these loans firm. A couple of months ago I did take a loan from one of them and the next that keeps popping up on my phone screen is tons of messages both on Whatsapp and SMS, and I kept wondering how my number easily got leaked, not knowing this same calibre of people intentionally leaked out my details. I called but they denied it. That was the first and last time I took loans.

[coupable]

I think that there is no application that works in the field of borrowing that works reliably except for the applications launched by banks that operate in a local framework. Even if these applications require a collateral to make them appear reliable, there is no guarantee that the collateral will return if you pay off the loan. It is noteworthy that there are currencies launched from projects claiming to be working in the field of loans. These are projects that still exist over time, and I don't know if anyone uses them.

[Furious 7]

I think that there is no application that works in the field of borrowing that works reliably except for the applications launched by banks that operate in a local framework. Even if these applications require a collateral to make them appear reliable, there is no guarantee that the collateral will return if you pay off the loan. It is noteworthy that there are currencies launched from projects claiming to be working in the field of loans. These are projects that still exist over time, and I don't know if anyone uses them.

Talking about loan applications, sometimes this is very dangerous, even if you see currently in my country, there are a lot of loan applications that have been introduced, even a lot of them are illegal.
Actually from there it looks tempting at first because you can borrow easily but after that you have to be prepared with unreasonable calculations with the same unreasonable interest.

[Ben Barubal]

Over the week, a friend and I had a conversation about loans and loan apps and she shared a bitter experience of how she was unable to write a very important exam because the money meant for payment of fees to qualify for that exam was deducted by a certain loan app that she collected money from a while ago.  Who will you really blame? My friend for not paying up as at when due or the loan app for not notifying her before the deduction.
In all, I advice that we should try to avoid any business with loan apps as they seem to be very numerous these days and are easily accessible. Most importantly, You should know that you are at the danger of developing a habit of borrowing from them if you patronise loan apps even for the smallest amount.

It's not good to borrow money through apps that can be found in the mobile phone play store that can be downloaded, it's almost gone and other loan apps have even paid influencers just to promote their app loan programs. It's like a trap that when you bite it is the beginning of the ordeal of your life for sure, if you don't pay at the right time they gave you, they add too much interest to what you owe, and then every day that you don't pay will be able to pay them your debt, apart from the daily interest which is too big and unfair they will call you constantly and even lead to threats if you don't pay, and they will make up a story and see you at the end that's the style of loan apps, so be careful there and avoid it as much as possible and it's even better to just borrow from someone you know who can lend you a loan.

[Jiovanni]

Over the week, a friend and I had a conversation about loans and loan apps and she shared a bitter experience of how she was unable to write a very important exam because the money meant for payment of fees to qualify for that exam was deducted by a certain loan app that she collected money from a while ago.  Who will you really blame? My friend for not paying up as at when due or the loan app for not notifying her before the deduction.
In all, I advice that we should try to avoid any business with loan apps as they seem to be very numerous these days and are easily accessible. Most importantly, You should know that you are at the danger of developing a habit of borrowing from them if you patronise loan apps even for the smallest amount.

How about a situation where you need the loan as capital for a business you're sure will yield profit and you pay up even before due date, can you encourage someone to consider the loan app, since friends and relatives are waiting for you to kick the bucket or officially turn to a begger before giving you a hand?

[Alert31]

Loan apps really gives you a headache because of very high interest for just a short period of time. It can't help in times of need instead it will bring you to more debt. This loan apps are illegal  and if you can't pay your loan in the due date they will never stop calling you and even threaten you. So, OP is rigjt, better to avoid such loan apps .

[Xampeuu]

I think that there is no application that works in the field of borrowing that works reliably except for the applications launched by banks that operate in a local framework. Even if these applications require a collateral to make them appear reliable, there is no guarantee that the collateral will return if you pay off the loan. It is noteworthy that there are currencies launched from projects claiming to be working in the field of loans. These are projects that still exist over time, and I don't know if anyone uses them.

Talking about loan applications, sometimes this is very dangerous, even if you see currently in my country, there are a lot of loan applications that have been introduced, even a lot of them are illegal.
Actually from there it looks tempting at first because you can borrow easily but after that you have to be prepared with unreasonable calculations with the same unreasonable interest.

In our religion - interest is prohibited - yet the banks deal with high interest rates.
And people are bound to pay off their debt whatsoever it is. Sometime people are scammed - and they pay loans of other people what a horrible thing it is ..

There are many incidents of people who are stressed because of online loans, some even experience suicide because they are under pressure and terror from debt collectors. but we also should not be tempted by their sweet words. most of us who want fast and easy funds, without taking into account the risk behind it, and this is what they use to find prey. because of the many victims, in my country there have been raids for illegal online loans, and now they tend to be safer

[GelatikKembar]

Loan apps really gives you a headache because of very high interest for just a short period of time. It can't help in times of need instead it will bring you to more debt. This loan apps are illegal  and if you can't pay your loan in the due date they will never stop calling you and even threaten you. So, OP is rigjt, better to avoid such loan apps .

Reports show that loan apps earn a lot of money, they can pay employees 2x higher than the same position when working at legal banks, but the problem is that loan apps pose complex problems, they do everything including threats of violence to anyone who doesn't. willing to pay.

Things like that of course violate existing rules, therefore loan applications like that are starting to be eradicated,
think before making a loan on such an application because the risk is big,
much better to avoid it than dealing with such a thing

[qwertyup23]

Loan apps really gives you a headache because of very high interest for just a short period of time. It can't help in times of need instead it will bring you to more debt. This loan apps are illegal  and if you can't pay your loan in the due date they will never stop calling you and even threaten you. So, OP is rigjt, better to avoid such loan apps .

Personally, loan applications are tolerable as long as you are able to pay the stipulated amount within the timeframe you provided.

As a general rule, only take loan applications if you have the necessary funds to pay them on the given timeframe. If not, avoid it at all costs due to the high interest rates and returns that they offer. The purpose of these loan applications is that they offer you some loan with minor requirements (as compared to banks) but they charge you with absurdly high interest rates. Not to mention, you are also bound to put names of people who must guarantee the loan in case you default.
 
From my experience, these loan apps will non-stop call you on your cellphone number demanding and asking for the loan payment. Again, there is no problem with loan applications for as long as you pay them on the agreed date.

[Cryptock]

Loan apps really gives you a headache because of very high interest for just a short period of time. It can't help in times of need instead it will bring you to more debt. This loan apps are illegal  and if you can't pay your loan in the due date they will never stop calling you and even threaten you. So, OP is rigjt, better to avoid such loan apps .

Personally, loan applications are tolerable as long as you are able to pay the stipulated amount within the timeframe you provided.

As a general rule, only take loan applications if you have the necessary funds to pay them on the given timeframe. If not, avoid it at all costs due to the high interest rates and returns that they offer. The purpose of these loan applications is that they offer you some loan with minor requirements (as compared to banks) but they charge you with absurdly high interest rates. Not to mention, you are also bound to put names of people who must guarantee the loan in case you default.
 
From my experience, these loan apps will non-stop call you on your cellphone number demanding and asking for the loan payment. Again, there is no problem with loan applications for as long as you pay them on the agreed date.

I agree - they give you strong headache - and particularly when you have been scammed and  you are paying other person loan.
The interest and loan pulls the last drop of blood from your body as well. So it's good if you don't put yourself in the curse of loans and interests. Better safe than sorry!