In kenya their have been so many phone apps which kenyans use in order to borrow money from .This apps are for example ; Tala loan app, branch, lioncash ,chaway etc.
This are some of the reasons why you should stop borrowing money from this apps.
1.High interest rate - many apps tends to have high interest rate .
2.poor communication from the Debt collector many debt collector don't know how to approach their clients, some use insulting words while collecting their money .
3.Limited payment time- incase you don't pay your loan in time this debt collectors starts calling people in your phone book and it's embarrassing.
4.Limited loan limit - Some loan apps have very limited loan limit which prevents their clients from having all the cash they want.
When you delay their payment this apps reports you to CRD hence you can't get any funds from any bank .
What are your experiences with loan apps,leave you comment below and let us know.
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