Avoid loan apps, a word of advice.

[bitgov]

take it as the last resort of getting funds. but if you will just take a loan because of personal things that you want to buy, then don't. take a loan if you badly need it, and if you have other resources that you think you can use if other options are not available. also, you need to look for loan options, where you can compare the interest rates and their terms. for sure, there will be more than one lending company that you can go to.

Sometimes one is in so much trouble that one cannot avoid taking loan whatsoever is the situation...
And then comes the hefty installment and payback time which almost takes all the freshness on the face of the person.

[bitterguy28]

In my place itself ? there are so much advertising happening about this kind of APPs that lets you loan a money with a promise of small fee , but if you take a look deeper then you'll see that they are not really giving you advantage because the term is longer that what is normal.
and also most of them will even bother  your family and friends if did not pay the amount promised per month or weeks.
avoiding those apps will also save you from deep of loan than your normal living .

[Ziskinberg]

In my place itself ? there are so much advertising happening about this kind of APPs that lets you loan a money with a promise of small fee , but if you take a look deeper then you'll see that they are not really giving you advantage because the term is longer that what is normal.
and also most of them will even bother  your family and friends if did not pay the amount promised per month or weeks.
avoiding those apps will also save you from deep of loan than your normal living .

In fact, I've even experienced sometimes they call me and encouraged me to take a long offering a low percent interest rate. I decline as I don't find it very reasonable to commit a loan online which I really don't know them. So many issues with these APPs and the people behind this as they are somehow rude, they'll talk to you nicely at first but at the time you can't repay them (just late) you can really hear threatening words which is not an appropriate action to be made.

[Jemzx00]

In my place itself ? there are so much advertising happening about this kind of APPs that lets you loan a money with a promise of small fee , but if you take a look deeper then you'll see that they are not really giving you advantage because the term is longer that what is normal.
and also most of them will even bother  your family and friends if did not pay the amount promised per month or weeks.
avoiding those apps will also save you from deep of loan than your normal living .

In fact, I've even experienced sometimes they call me and encouraged me to take a long offering a low percent interest rate. I decline as I don't find it very reasonable to commit a loan online which I really don't know them. So many issues with these APPs and the people behind this as they are somehow rude, they'll talk to you nicely at first but at the time you can't repay them (just late) you can really hear threatening words which is not an appropriate action to be made.

Probably the reason why they are offering a longer term of loan is mainly because they'll be able to receive more interest from you. Being nice upfront is one of their tactics for you to be encouraged of what they offer such as terms of your loan but once you've reached an agreement, it'll instantly change into intimidation and will try to harass you into paying especially when you're late. Again, it is best to avoid these loan apps, if possible try to look for alternatives such as bank loans to avoid these kind of experience.

[RealMalatesta]

In my place itself ? there are so much advertising happening about this kind of APPs that lets you loan a money with a promise of small fee , but if you take a look deeper then you'll see that they are not really giving you advantage because the term is longer that what is normal.
and also most of them will even bother  your family and friends if did not pay the amount promised per month or weeks.
avoiding those apps will also save you from deep of loan than your normal living .

In fact, I've even experienced sometimes they call me and encouraged me to take a long offering a low percent interest rate. I decline as I don't find it very reasonable to commit a loan online which I really don't know them. So many issues with these APPs and the people behind this as they are somehow rude, they'll talk to you nicely at first but at the time you can't repay them (just late) you can really hear threatening words which is not an appropriate action to be made.

Yeah, that kind of hardcore mafia like loans are not the way out to be first. I get that some people do not have any other option, it is either homelessness or getting some loan and "hope" that things will turn around and you will do better.

We even have that in the lending sections here, people who get something between 100 bucks to 1k dollars, maybe that looks like a small amount to you but the world is filled with nations who have 100-1k per month living average, so you could get like 5 months out of the way with 1k dollars if you could get it, and during that 5 months they hope that they could find a way to make money and repay that back. This is the "last resort" type of thing for these people, not for everyday normal people.

[hyudien]

In my place itself ? there are so much advertising happening about this kind of APPs that lets you loan a money with a promise of small fee , but if you take a look deeper then you'll see that they are not really giving you advantage because the term is longer that what is normal.
and also most of them will even bother  your family and friends if did not pay the amount promised per month or weeks.
avoiding those apps will also save you from deep of loan than your normal living .

This also happens in my area but indeed sometimes in this case advertising applications about online loans like this are more Illegal and not officially recognized by the government which indeed a lot of people take advantage of this for personal gain by borrowing and not paying. terror perpetrated by their employees.
Actually, things like this can't be said to be true, but on the other hand, things like this need to be used as one of the things that really needs to be learned that sweet things when offered do not always work well in the original process.

[Quidat]

-snip-

That's how those credit apps can ruin the personal finances of the people. Once the people embrace it, then it's hard to stop it anymore as they find it difficult to find means just to pay their debt. For some beginners, better stay away from these loan apps or lending companies because they are not helping you, they are already taking advantage on your finances with their high interest. Although we can rely from them in times of emergency, but their high interest also kills us day by day.

I would also like to add, I have read credit companies are indirectely pushing people to adquire debt and have a good credit score, because there are things that one can't adquire with cash easily, like a home or a car, in those cases credit is likely necessary.
The problem is that if one do not have a credit history behind, banks will be reluctant to approve loans. It seems banks have quite a good plan set up for all of us.

That's actually a low key debt trap. It's been happening since finance companies and other micro loan companies became rampant. Including banks. You cannot easily make a loan  without those credit scores or debt histories. So, this is the reason why some people are forced to make a debt for them to have a record and approval won't be a hindrance once you need a loan.

Kind if ridiculous if you ask me, if someone asks for credit and does nor have a history it means that person has only used debit and cash, which should not be a red flag for banks or credit providers at all, I'd personally take it as a neutral thing, but I suppose banks must have a good reason to always need a credit history on hand, I am not an expert at banking at all , after all.

Would be totally not relevant or useful in todays system where credit history would always matter specially on banks where these things are the primary information that they would really be requiring
unless if you do have some assets or some good standing in terms of finances or having big savings or something like that then they might be having some reconsideration but its true that
having no history should really be taken as a neutral thing because you cant really be sure if that person does really have that capability on paying up things on the time that he would take
up some loan.For loan apps then its not bad to borrow as long you are that responsible on paying it back.

[freedomgo]

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.

The problem with these online loan apps is that they keep on popping into your wall until you decide you'll start to apply. But upon application, they are asking your personal details which i think is very risky once they start taking advantage on it and using all your information for their other purposes. The fact that they are total strangers makes it more risky to think. I suggest there's no wrong on taking loans as long as you are capable enough to pay, but always make sure that you are doing it from those legit and established lending companies because their interest are not so high, aside from knowing your personal information will be not disclosed to others.

[fauzan Ichsan]

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.

In my country, many online loan applications appear, and they are divided by legal and illegal activities, usually what the community complains about is the fantastic loan interest, especially if we are late in paying, we will be subject to fines that seem irrational, until finally there are many stories that have committed suicide because of shame due to the terror directed at their relatives and even their friends, as a result of giving permission in the first place to be accessible to all the contacts they have on their cell phones. so be careful, and if you really need it, then use it wisely on online loans that have received permission from the government

[Biscutard]

In my country, there are many cases of online loans that end badly, those who can't pay installments get severe terror, loan interest that can reach hundreds of percent per month makes people who owe $5000 to more than $15k in 2 years, it's better never to avoid loans in the application and better take loan to banks.

I really don't advise to make a loan without source of funds even if it is online or actual process. It can help someone with delayed funds or income because it will help them for their immediate needs. As what I've seen, the interest of online loans are justifiable and it's up to you if you'll take that offer as long as you're responsible for your actions.

[ultrloa]

In my country, there are many cases of online loans that end badly, those who can't pay installments get severe terror, loan interest that can reach hundreds of percent per month makes people who owe $5000 to more than $15k in 2 years, it's better never to avoid loans in the application and better take loan to banks.

What more worse there is they give threats or other disturbance to their clients who cannot repay their loans and if you go on this situation for sure will get disturbing phone calls as well as emails from time to time so if you don't have capabilities to pay better not to take this option because for sure we will be in bad shape. Better to avoid taking loans since life is so good without anything bad things comes in our minds.

[erep]

What more worse there is they give threats or other disturbance to their clients who cannot repay their loans and if you go on this situation for sure will get disturbing phone calls as well as emails from time to time so if you don't have capabilities to pay better not to take this option because for sure we will be in bad shape. Better to avoid taking loans since life is so good without anything bad things comes in our minds.

Illegal loan applications do not have appropriate loan billing procedures other than stressing the client in any way, the worst possibility awaits you when you are out of the house. I recommend avoiding illegal loan applications because they increase high interest rates after passing the payment period, many hidden rules are decided unilaterally by loan management.

[Fatunad]

In my country, there are many cases of online loans that end badly, those who can't pay installments get severe terror, loan interest that can reach hundreds of percent per month makes people who owe $5000 to more than $15k in 2 years, it's better never to avoid loans in the application and better take loan to banks.

What more worse there is they give threats or other disturbance to their clients who cannot repay their loans and if you go on this situation for sure will get disturbing phone calls as well as emails from time to time so if you don't have capabilities to pay better not to take this option because for sure we will be in bad shape. Better to avoid taking loans since life is so good without anything bad things comes in our minds.

It is really just normal for them to make out barrage of calls and spam out emails whenever they do really need that repayment of yours which they do actually have the rights since you are owed
something from them which its normal that they would really be having those kind of approach if you do show no interest on paying it back or simply you are already in delay.
Avoid loans and borrowing money at all cost if its not really needed because it would really fuck you up if you arent really that responsible on paying back those loans on the right time.
It is really just normal to have those kind of approach whenever you do make out some foolish actions.

[Doan9269]

 

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

this sounds funny abit but i can tell you vividly that both of you are wrong in this regard, the bank should have a policy ethics that guide their loan shark of a thing, some of them will not tell you the conditions attached while some will but things might go wrong along the line that nee stuffs begin to showcase unexpected, you can also be wrong as well without asking enough questions or make a research about them before having a deal.

the worst that now happens with taking loans from banks is that they will pop into your account without your access and manipulate your funds to their wish, but the fault is from the user end because he had granted them full access right from the first day he sign a loan deal with them, nothing good with banks than fulfilling their selfish interests.

[Kelvinid]

What more worse there is they give threats or other disturbance to their clients who cannot repay their loans and if you go on this situation for sure will get disturbing phone calls as well as emails from time to time so if you don't have capabilities to pay better not to take this option because for sure we will be in bad shape. Better to avoid taking loans since life is so good without anything bad things comes in our minds.

Illegal loan applications do not have appropriate loan billing procedures other than stressing the client in any way, the worst possibility awaits you when you are out of the house. I recommend avoiding illegal loan applications because they increase high interest rates after passing the payment period, many hidden rules are decided unilaterally by loan management.

They can't urge debtors to pay their loan as they are illegally running a business but somehow, they are more serious about dealing with you if you can't pay and even make your friends and family members get informed as they call them to make know about the default loan. Actually, this is have been called out by the authorities in my country due to their wrong approach. Maybe, the best thing to deal with them as well is to report them in order to stop their illegal operation and let the authorities punished and imposed penalities.

[_BlackStar]

Is this some kind of crypto or fiat based online loan? If it's fiat, I really think it's a bad thing to do, but otherwise crypto lending is more advisable if you have some sort of collateral.

To be honest, so far I have never been tempted to make a loan through any online application. Even if I am in a very bad financial situation, I think it is still good to think about making a loan from close friends or family. So far I have tried to stay away from any loan because I don't really like to burden my salary or income to pay off loans, especially for loans that have high interest rates.

[Vaculin]

These loaning apps are terrible in customer service, they really are a business that will suck every customer's money that have taken loan from them.

If you're going to take a loan, just go with the banks and they've got lesser interest rates.

The twist from these apps are they've got lesser requirements so those that are in dire need, they're the best options but when they've got the loan, terrible experiences will be made from them.

That’s true as I have come to take a loan before online and experienced the worst. Though it’s seemed so easy for us to make our loans approved, but in times that we can’t pay our loan in due time, they surely put an interest that I think is very high and I’ve got no choice but to pay for it. I swear I won’t be attracted to any loan apps again. In general, it’s always not ideal taking loans because you are giving them chances to take advantage on you. If you want to invest, then save for it. If you want to own something, then you should strive hard to prepare your funds so you won’t be taking a loan as a last resort.

[MiF]

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.

I did not patronize loans because i know that the company that give you a loan is a business and if we are going to have that loan they will earn from the interest and  in it is very easy to understand that we the loaners make them very rich and make our self very poor, i will only get a loan in case of emergency and no other option or choices than getting that loan.

[Natalim]

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.

I did not patronize loans because i know that the company that give you a loan is a business and if we are going to have that loan they will earn from the interest and  in it is very easy to understand that we the loaners make them very rich and make our self very poor, i will only get a loan in case of emergency and no other option or choices than getting that loan.

Let's say that they were getting rich because of us loaners but we think also that somehow they save us in times of financial difficulties. Of course, this is business, and it designs to make a profit. So, it doesn't matter how much they get from us loaners as long as it helps us, in fact, they are also risking their money to do this. as in some cases, some people don't repay their loan which is also a big loss for them.

[Quidat]

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.

I did not patronize loans because i know that the company that give you a loan is a business and if we are going to have that loan they will earn from the interest and  in it is very easy to understand that we the loaners make them very rich and make our self very poor, i will only get a loan in case of emergency and no other option or choices than getting that loan.

Let's say that they were getting rich because of us loaners but we think also that somehow they save us in times of financial difficulties. Of course, this is business, and it designs to make a profit. So, it doesn't matter how much they get from us loaners as long as it helps us, in fact, they are also risking their money to do this. as in some cases, some people don't repay their loan which is also a big loss for them.

Its a mutual benefit i would say which is definitely true that loaners do get some benefits and advantage and same goes to those who do give out loans and if you do have
that kind of mindset that you dont really like for them to make some income or profits then dont take some loan.You arent forced on doing so and its optional but
if you are on a condition where you are really badly in need or emergency then for sure you wouldnt really be minding those issues that you do have in mind.
This is indeed a business and they are doing this for profits but of course it would be always accompanied with risk.