Avoid loan apps, a word of advice.

[Joshapat]

Online loans with a high level of risk, namely the number of borrowers who do not pay, of course, must be closed with high interest rates, for us, financial management is the most important thing, if we cannot manage finances then we can be sure to be included in online loans and this is the beginning of suffering.

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[Mario Yamasaki]

I do not understand why people must be willing to pay interest more than 100% in a year or even less, really this is a serious and feasible violation for the country to make the owner of an online loan as a crime, in my country the bank interest is only 5% means that online loans give 20x higher than banks.

[bitgov]

I do not understand why people must be willing to pay interest more than 100% in a year or even less, really this is a serious and feasible violation for the country to make the owner of an online loan as a crime, in my country the bank interest is only 5% means that online loans give 20x higher than banks.

You live in a great country
My country loan interest in 33% these days. Can you believe it or not - the economy is crashing and there is no stability coming anytime sooner.

[Lanatsa]

I do not understand why people must be willing to pay interest more than 100% in a year or even less, really this is a serious and feasible violation for the country to make the owner of an online loan as a crime, in my country the bank interest is only 5% means that online loans give 20x higher than banks.

You live in a great country
My country loan interest in 33% these days. Can you believe it or not - the economy is crashing and there is no stability coming anytime sooner.

Could you say on which country you do live in? 33% is totally blown out and i dont know if there are people who do still consider on taking up a loan with that very high interest.

This does signify that you should really do your very best not to take any loan or borrow money if you do see that you would really be putting yourself in much more bigger trouble due to interest.

It isnt really worth but if you dont really have any choice or this is some sort of last resort then go ahead but be responsible on repaying it back.

[Wong Gendheng]

I do not understand why people must be willing to pay interest more than 100% in a year or even less, really this is a serious and feasible violation for the country to make the owner of an online loan as a crime, in my country the bank interest is only 5% means that online loans give 20x higher than banks.

You live in a great country
My country loan interest in 33% these days. Can you believe it or not - the economy is crashing and there is no stability coming anytime sooner.

Hard to believe if bank interest can reach 33%, with a high bank interest then the easiest thing and safe is to save money in the bank, I'm sure 33% is from online loans or loans without collateral that is high in risk, in my country the bank interest is also very very Low is no more than 8% per year, low bank interest to help the economy can grow well.

[Furious 7]

I do not understand why people must be willing to pay interest more than 100% in a year or even less, really this is a serious and feasible violation for the country to make the owner of an online loan as a crime, in my country the bank interest is only 5% means that online loans give 20x higher than banks.

You live in a great country
My country loan interest in 33% these days. Can you believe it or not - the economy is crashing and there is no stability coming anytime sooner.

This is crazy, 33 percent for interest? Which country do you live in now?
when something like this happens then we really have to manage money properly so that when things happen that we don't want we still have some reserve funds to support life because if you look at the 33 percent interest, it's clear it's not a loan and you have to think several times to make loans there.

[rodskee]

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.

Lol why does the Loan APP needs to notify before the deduction when the borrower should Maintain a constant checking about His due?

sometimes people are just looking for reason to blame others when the truth is it was their own mistakes and failure.

If you know how to Loan then you must Know how to pay.

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 never Borrowed any amount from Loan APPs and Even in our local exchange that i am qualify to take a loan is being denied from my side because I know that this is an obligation that I must be committed .

[SirLancelot]

I do not understand why people must be willing to pay interest more than 100% in a year or even less, really this is a serious and feasible violation for the country to make the owner of an online loan as a crime, in my country the bank interest is only 5% means that online loans give 20x higher than banks.

They must pay if they agree on this term and then took the loan because if not then I don't know what can happen to them. The reason why a loan company can make a rule like that is because they know that there are still people that will take it because they are also in need of money.

I think this is not a violation because no one is forced to take a loan. It's like the same with other business like for example grocery. They can also increase their pricing because know that it was in demand. Good for you if banks in your country has that nice offer but not all countries are the same bro. Some are worse than that but people have no choice. They already used to it.

[dunfida]

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.

Lol why does the Loan APP needs to notify before the deduction when the borrower should Maintain a constant checking about His due?

sometimes people are just looking for reason to blame others when the truth is it was their own mistakes and failure.

If you know how to Loan then you must Know how to pay.

Bolded part.

This is where should people do really mind off because if they do know on how to take a loan then they should really know on how to pay so that you would really be putting yourself off with possible trouble specially with
high interest rates where these loan companies do really make money on.

As much as you could then it would be better if you do avoid taking up some loans.Try to borrow first from your loved ones or relatives before taking last step or last resort because
if you do really tend to calculate the interest then it would really be just worsen up your financial situation.

[virasisog]

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.

Lol why does the Loan APP needs to notify before the deduction when the borrower should Maintain a constant checking about His due?

sometimes people are just looking for reason to blame others when the truth is it was their own mistakes and failure.

If you know how to Loan then you must Know how to pay.

Bolded part.

This is where should people do really mind off because if they do know on how to take a loan then they should really know on how to pay so that you would really be putting yourself off with possible trouble specially with
high interest rates where these loan companies do really make money on.

As much as you could then it would be better if you do avoid taking up some loans.Try to borrow first from your loved ones or relatives before taking last step or last resort because
if you do really tend to calculate the interest then it would really be just worsen up your financial situation.

If you can find other alternatives or choices to borrow funds, avoid loaning apps as much as possible. They usually let you borrow easily but will put up high charges and interest. They will just take advantage of your situation but will put you in trouble later on. Yes, borrowing from your friend and family will be better because loan apps are not really there to help but to take advantage.

[dothebeats]

Loan apps are just the absolute worst. They would constantly notify you of your balance and would even send a message to your family and friends for you to get ashamed and hopefully pay back your loans immediately. Plus the interest rates are also higher. If that isn't enough, some of them are even selling your information to advertising agencies, and this is confided to me by my friend who's working on advertisements for years and had the chance to talk to this client, a director of some sort from a local loan app.

Also, I don't see the reason why people need to have credit cards or take a loan. Do not spend what you don't have, and never go beyond where your pockets can take you. It's a simple rule that a lot of people cannot follow because they want to impress other people. It won't take you anywhere, and would only cause a lot of problems for you in the long run.

[erep]

Loan apps are just the absolute worst. They would constantly notify you of your balance and would even send a message to your family and friends for you to get ashamed and hopefully pay back your loans immediately. Plus the interest rates are also higher. If that isn't enough, some of them are even selling your information to advertising agencies, and this is confided to me by my friend who's working on advertisements for years and had the chance to talk to this client, a director of some sort from a local loan app.

They will make every effort to pressure borrowers to repay loans on time, but illegal loan applications do not have good collection procedures for borrowers. However, suppression in any way against borrowers is not accepted, including publishing/selling loan data to others, threats against borrowers, physical contact and confiscation of goods, but all the worst collection procedures are never written in advance in the loan terms, so you must avoid loan applications and alternative solutions to borrow from family, friends and relatives.

[bitgov]

Loan apps are just the absolute worst. They would constantly notify you of your balance and would even send a message to your family and friends for you to get ashamed and hopefully pay back your loans immediately. Plus the interest rates are also higher. If that isn't enough, some of them are even selling your information to advertising agencies, and this is confided to me by my friend who's working on advertisements for years and had the chance to talk to this client, a director of some sort from a local loan app.

They will make every effort to pressure borrowers to repay loans on time, but illegal loan applications do not have good collection procedures for borrowers. However, suppression in any way against borrowers is not accepted, including publishing/selling loan data to others, threats against borrowers, physical contact and confiscation of goods, but all the worst collection procedures are never written in advance in the loan terms, so you must avoid loan applications and alternative solutions to borrow from family, friends and relatives.

sometime people make a mistake of taking the loan from bank and apps . . and they never get out of it for the rest of their lives and they don't make another attempt of doing that ever again. .My dad made a mistake and he suggested us not to jump into the whirlpool of debt. But I did make a mistake and ended up in a misry.

[nakamura12]

I have getting loans not too long ago and event if you did pay on time or much earlier then the interest is not small (depending on the amount you loan) and if you didn't pay on time then the interest will increase from time to time. If you plan to loan then you should or your friend should pay on time to avoid paying more than the amount that is said to be paid. In Bitcoin, there are some lenders too but I think the lender is exposed to more risk compared to the loaner since that person may pay or won't pay at all and if it is a loan from government then you will surely go to jail if you don't pay (which is why you will be pressured about going to jail).

[Adbitco]

First I would love to ask a simple question;
Does she really read T&Cs?
Did she revealed her ATM pin to the load app?
And when borrowing why didn't she meet up to pay her loan back at elapsed time?

Then furthermore, I have also associated myself with one of the loaning app if permitted I can mention it here for those who have used to testify as well, from my country and I wasn't deducted after my loan elapses just a day or two days after I paid.

NB: Those loaning app can only deduct money from you when you refused to payback after the due date have elapsed, and I believe they have been trying to reach her out but her contact weren't connecting so this could be as a result of their deductions. So I will tell you is a business money she's holding down without paying back so you and I have to blame her for not paying her loan (it's known as 'Loan violation') and there's every consequences for violating a loan both in forum here and most at times there's always a collateral but those app doesn't have so you can't blame the app but blame your friends for not being faithful keeping to her terms of loan.

[kawetsriyanto]

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.

[Tellek Garing]

Having read most of the comments people made on loan and loans app I fine out that many of the people borrowed from loan app don't read terms and conditions of the app. We should know that the owners of the app borrow out the money to make profits and at that they most used all means to get their money back as fast as possible.

[CryptoHeadlineNews]

I have once borrowed money from loan apps, and from my experience I won't advise anybody to do that if they have an alternative, but if you don't, then you can borrow from a loan app, but never forget to always ensure you read terms and conditions, to see if it's favourable or not before accepting such loan. Because one thing I have observed about loans is that it is very easy to take but very difficult to pay back on due time if you are not discipline enough, and what most company does is to add a late payment fee which accommolates daily. So it's advisable to apply for a loan you can repay back at a certain period of time or not apply at all

[Obito]

I have never collected a loan from app before,  but people who are close to me that have collected loan from app before has never say anything good concerning loan app.  Most of this loan app have high interest that it can be very stressful to pay the debt and the interest,  it is a parasite.

They're not just high but they're also predatory, from what I've heard they even want your address for collection purposes which is pretty crazy but understandable and they won't stop reminding you even if you are not yet on the due date yet. I myself avoid doing loan altogether because it's expensive and nothing good can come out of it unless you are the one loaning money with agree upon interests.

[Lambe Ndumble]

Loan Apps is very massive advertising on YouTube or other social media, they offer a pinch with very easy conditions, only send data then selfi while holding the data then fill in the form and not up to 3 hours the amount of loan will be received, unfortunately the borrower does not pay attention to interest that must be paid so that it has difficulty when paying.