There was a time that I did borrow money from an app though was able to pay back and that was the last time I did it and I am not going to do such a thing again ever for the reason for me borrowing was to help sort out an issue at home and all because the money I was expecting from my investment was not yet ready and so I had to jump into an alternative which was to collect loan from the app as people do not want to lend money to me.
What's your experience with lending apps
- Thread starter cherry123
- Start date
This is why I will always advise people before taking loan they should make sure they have a means to be able to pay it back in order to avoid embarrassment.
I have not taken loan from those apps but one thing that I know about them is that their interests are always high. And they send messages to your contacts of you don't pay back.
But why would someone take a loan and wouldn't want to payback? It is a very irresponsible kind of life to live. If you can't payback, stay away from loans.
Well, I have never taken a loan from an app before but some of them are very unprofessional. There are some of them that are not even legal to operate in some countries.
I once wanted to apply for loan on a lending app both I don't have all the things they requested from me to get money from them. So I never get to use the app
How do you expect them to be professional when you are owing them? Have you seen banks on a loan recovery move? They hound people like common criminals. They won't even waste time to sell your collateral. There is no professionalim with debt recovery.
Is that a justification for people borrowing and not paying back? For God's sake, you saw the interest and decided to take the loan. Why won't such a person pay back?
I'm yet to apply or borrow loans from any lending apps. What I know is that some people were able to get loans. However, what I was made to understand is that people with good credit score would be able to get loans.
I don't have a personal experience with these apps but the experiences of close people in my country is not nice at all. They would call your mobile phone contacts and damage your reputation if you refuse to pay.
well it is quite good that you don't have any experience with any of this lending apps because they will frustrate your life to an extent that you feel like doing something crazy because I had an experience with someone who hold the money and she borrowed from about 5 apps and made her go crazy.
The business for giving soft loans to people through the loan applications has really attracted so many people. There are loads of those apps in my country. They help alot but the downside part of them is the high interest rates.
This is how they do but I think a lot of us should also know that this is very good to return money whenever you take out a loan so that they will not continue to call you and also embarrass you. It will not be nice
