Everything has its advantages and as well it’s disadvantages and the loan apps and services are included as well and personally, I think every loan service has their terms and conditions of services and for you to take out loan from them, you already agree with their terms and services which in this case might include access to your bank account and also deducting their money from your account when you fail to repay your loan on time.
Loan apps are helpful and we shouldn’t talk them really down but that doesn’t mean that, we should abuse their services or try to live our lives dependent on them, as their main purpose is to help us in crucial times and not sustaining our lives.
On this note, I think I will have to blame the girl for failing to pay back her loan and also not communicating with them on time .
~snip~
Until now, online loan apps are still rampant. Especially here in our country, and many online loan apps here in our country have also been raided because they are unregulated and even threaten those who lend money if they cannot pay the installments on the loan.
So to avoid such loan apps, do not really enjoy online loan apps because the interest they charge is really high.
These still drives down to the fact that, most people who borrow don’t take out their time to read their teams and conditions before heading to borrow from these loan apps because I could remember reading the terms from one of these loan apps which included some threats and using every possible ways to recover their money when the lender fails to repay on the due date.
I don’t think their rates are high as compared to physical lenders that might want some sort of collateral while even charging you so high for interest.