Online loans is a new thing T the moment and so many people are actually benefiting from them day by day. There are however reasons why you should avoid online loans.
People especially in Africa are very economically bad and they do whatever to get money especially quick money.
The online loan givers use that opportunity to exploit people that are desperate for money by getting more percentage from the money they actually give them.
Here are the reasons why you should avoid online loans;
Online loans most of the times they don’t end once one doesn’t pay it in time. They keep increasing everyday which frustrates the customers all the time and keeps them with sleepless nights and stress they didn’t have before.
The online loan givers make frantic and threatening calls to the person who had borrowed. It is not what someone wants to gets calls all the time asking money even threatening to expose them at some point or shame them.
Online loans also don’t give that much money to even solve a big problem but the money one pays it’s usually as much ten times as the one that was given to them at some point in time.
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There is also an addiction when it comes to people borrowing money and once one starts they don’t usually stop. They keep doing that from different apps which can destroy someone’s future.
The online loan givers also have no sympathy and don’t have grace period given to anyone at any point when they can’t pay.
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