Post
Topic
Board Economics
Re: Avoid loan apps, a word of advice.
by
Fredomago
on 13/02/2025, 12:40:26 UTC
As much as possible, if you need to take a loan, better go to legit routes like banks. Because most online lending apps are scammers. As most of them don't have necessary legit business docs, they can anonymously operate and screw people.
Most loan applications are illegitimate or illegal, because they operate without valid business documents, you need to be careful when borrowing from this application because it can harm the borrower himself, such as high installment payments and that will be burdensome of course, because they violate the rules in force in the country because it is a detrimental action.

The reason why they are willing to do everything just to attract people to borrow with them as they can force those people who are unaware of thier tactics, I've heard some of this onlne loan app extend their way to seek for repayment to the point that they'll going to message those people who are in your friends list and they'll make it such an embarassment for you to do everything to repay them, even the additional charges is quite high when you missed your duedate to repay.