What are the things to do to avoid borrowing money from useless loan apps?
I don't think it's a crime to borrow money online from loan apps just for financial assistance or to run a business but some of these loan apps do shameful things that are unprofessional and sometimes I see these things as evil.
Imagine oweing a loan app or website few amount of money of less than $50 and this app already called all the contact on your phone book or contact that you have defaulted but does anyone warrant this type of embarrassment from these loan apps or website? L Credit is part of this evil.
Someone said "do people still borrow money from loan apps like L.credit apps? This question shows that the person who ask this question must have been maltreated or embarrassed by this loan app which haven't handled their business professionally with good customer care and human sympathy.
How do you know a useless loan app? There are many ways you can get a useless loan app through their worse costumer care. The way some loan app in Nigeria handled their customer can be very unprofessional. Some don't even answer your calls when you have issues, some abuse you when you fail to pay probably due to their site problem regarding payments, while some will disgrace you and give you unnecessary pressure by calling your contacts and telling them you owe them money and have refuse to pay. Is this good?
To stop Borrowing money from useless loan apps or loan website, you need to consider so many things which are:
1. Check for reviews: You can get feedback on some loan apps with useless services through the social media, through discussions on online forum, or through blogs who have shared their terrible experience with them. If you want to stop putting yourself into problem through some of these loan app or website like I do earlier, check for reviews before joining and providing information to this people.
2. Google play reviews: When people ask me about some loan apps or website, I quickly check the company or app name on Google play without downloading it at first. You need to check through comments of people giving feedback to Google and this will help you get more information about an app before using this.
I saw some comments about L Credit loan apps which are negative and I think such as should be regulated. So, don't forget to ways check for reviews from Google play.
3. Be Patient: I wanted to start a business online but the money I have wasn't enough to start, so I decided to borrow more money then it affected me. I know some people might find themselves in this situation where want they believe is only to borrow money from this online loan app, why can't you wait a little, save more, gather some funds.
Because by the time these loan apps come with their problem them you will realize the reasons why you need to be patient and shouldn't have borrowed money from them in the first instance. So, try as much as possible to be patient and do not borrow any money from this website or apps.
4. Outrageous high interest and fees: Some of the reasons I'm telling you not to borrow money from this loan apps is due to their unnecessary fees and high interest which may harm you in repayment later. Imagine borrowing 20,000 to pay 25,000 only for a period of 14days like some apps like L Credit and palm credit do.
These fees are too high and outrageous and not good for business. Which business can I do with this small money and pay back in 14days? Please think about this before borrowing money from them. And the days for repayment are too short like 14days, 7days and more.
5. Choose wisely: No matter the situation or condition that permit you to borrow, please choose wisely or try not to borrow any money from any app. Although you can still choose among some good loan apps but majority are useless and bad because they are not being regulated by government.
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6. The customer care: stopping to borrow money from useless loan app start from the customer care. Some loan app have very bad attitude towards their customers, they don't pick calls, they don't respond to messages and many are owned by humane people who have no pity or regard for borrowers. Try call their customer care line or send a message to their chat, email or social media handle and wait for their response. This will tell you if it's really worth it borrowing money from these apps or website.
7. Social media: some apps or website have social media platform like Facebook or Twitter. So you check some of the comment from some of their users and you will get some fact from there. I was looking at a loan app where one of the users said she make a repayment which wasn't confirm and they still added overcharge and late fee on her account. Is that a good loan app?
These are some of the things you need to check and which will go along way in stopping you from borrowing money from some loan app that don't worth it. Study the responds from the customer care, choose wisely, check high interest rate and fees, and also ensure you read Google play reviews of the loan apps. Do this and you will be covered of not falling for useless and unprofessional loan app. Thanks for reading.