This is the era of online loan apps flooding the internet and it’s so difficult to even fish out the real and registered one out of the rest. In one of our previous post, we wrote on the best loan sites or apps that disburse on time and which will never call your contact in case you default.
Note that never go for any loan if you know you will default in any of it or you don’t have a mean of pay back on or before the due date but I know that anything can happen since we all are humans. Never for any loans which pay back less than 14days simply because most of them are scams and unregistered.
Google delisted some loan apps recently due to breach of agreement and unnecessary hardship on people. I also received so many messages on loan apps harassing people and defaming their characters all which what can be done is posted in some of our previous post which can be gotten by using the search box on this site or see the link to the post below as you read.
Now if you have so many debts which have been accumulated due to borrowing from different loan apps or sharks to the extent that you can’t even pay back all of them again, you need to do the following;
1. Do not borrow anymore: if you want to know what to do after having too many debts with online loan apps and couldn’t pay back again, just put a stop to borrowing and please do not borrow again. It may be difficult for you to decide not to borrow money again from any loan apps or site but make it work.
Because if you continue to borrow from one apps to another, you may not be able to pay up again till you become hooked and getting stuck may cause you some health issues like high blood pressure, hypertension, chest pain and many more. No harm can befall you if you stop and don’t borrow from any loan apps again but it’s a step in achieving greatness.
2. Check the apps presence on store: Now, if you can’t think of what to do after having too many debts with online loan apps and couldn’t pay back, then go check the legitimacy of such site on Google play store through reviews.
If such loan apps is operating illegally or not registered, then you have nothing to worry about. Just put yourself together, do some business, make profit and be happy. You don’t need to think and think just because you owe these loan apps some money which you can’t pay back.
3. Check the Legitimacy of the site: Checking the legitimacy of the loan site or apps means you need to know if they are registered, if they have an office, registration number or if they have the permit to operate in the country. If yes, you don’t need to panic about it but if no, and then you need to apply the next simple step on this issue.
4. Calling of contacts: Okay, if you don’t have an idea on what to after calling your contacts, it might be a big shame on you but making such calls can actually make you stronger if you know your right as an individual. Please don’t fall for their threat that you actually signed an agreement for them to call your contacts, it’s never done anywhere which means they can be sued for invasion of privacy.
Most of them don’t even have offices, not registered and if they send abusive messages to your contacts, then they will never get a dime from you again and again. If they ever threaten to do so, send them to meet you in court and these apps admin will run. And if they now go to an extent of labeling you by sending messages along with your pics on your Whatsapp contacts, then that is the height of it.
5. Repay the legit ones: So, repay the legit ones and wait for defamation of characters, invasion of privacy, scamming practices etc. All these have to do with mind and understanding your right as a citizen. I have always tell people that they don’t need to worry anymore when it come to issues regarding loan apps especially the unregistered ones.
Just send a disclaimer messages to your contacts and deny them, your contacts will understanding. But if they go further, gather your evidences against them as well as your witnesses in case you file a court case against them.
6. Block some of their spam lines: If you have too much debt to pay these loans apps but can’t cope anymore, why not download truecaller calling and messaging apps and block some of their lines. Doing this will give you peace and you will sleep like a baby without worry of disturbing calls. And if any one call your contacts, instruct your contacts that they are scams and should be blocked.
7. Be at peace with yourself: So at this time when we are approaching the festive period, you don’t need to think about anything, you only need to help yourself by making yourself happy, having a good health and be at peace with yourself and your family. Loan apps have one thing they believe could work for them in getting back their money which is aggressiveness and defaming but that is unprofessional at this age.
Always remember that you don’t need to worry or kill yourself about calling of contacts or problem associated with loan recovery of some of these loan apps. I can tell you that it’s been settled because the Government is now beginning to look into their outrageous short repayment notice and high interest rate as well as some of the feedback and complain from people who have bitter experience of insults, and many more.
But try as much as possible to repay back your loan within the stipulated time of agreement. Thanks for reading.