Teachers should avoid getting a cash loan from online lending apps: A teacher’s honest experience this 2022

Teachers should avoid getting a cash loan from online lending apps this year and onward. This is my story and I wanted to share this so other teachers may be aware of the pros and cons of these online loan sharks.

So, why the nerve to tell that teachers should avoid getting cash loan from online lending apps? Here is my story and better pay attention to it.

It is for a fact that these online lending apps are helpful when we need it the most. Some of them help us to secure gadgets and appliances. These gadgets and appliances may be on installment basis. The price is of course higher than the original retail price since it is on installment. It is understandable and I know that many of us have used these online lending apps so far.

As they are somewhat helpful in other ways, for some reasons they are also one-of-a- kind loan sharks. Their targets are those with jobs and have monthly salaries like teachers. Gadgets and appliances are cheaper and are understandable to be on installment basis. But, in some cases they will offer their good paying clients cash loans on larger amount. Teachers should avoid getting a cash loan from online lending apps right here and now.

They knew for a fact that teachers will click the bait since we needed cash all the way. To continue my own experience, one famous online lending shark called me so many times. They offered me Php115,000.00 cash loan. That time, I needed urgent money so I grabbed the opportunity. I wasn’t thinking clear at that time since I only think of the solution to my money problem. So, I availed then used the money from them.

Three months later as I am on my third payment schedule, it was then I realized that I was so dumb. I didn’t think twice and as I computed, my loan from 115K after five years will amount to 342K plus. Imagine the interest they put on that cash loan? It went three times the principal amount. This is why teachers should avoid getting a cash loan from online lending apps at all cost.

I can’t turn back time and I am already in this mess. The only thing I could do is to warn my fellow teachers out there to be careful and think twice. Don’t let the agents fool you with their sweet voices and make sure to listen to what they are offering you. Or else, you will suffer in the long run. There are so many online platforms out there that are also doing this but they don’t offer larger amount. Only this famous one (what you think is right) will offer you this big if they know you are good in paying.

Teachers should avoid getting a cash loan from online lending apps to avoid problems. Aside from that, let me remind you that they will always annoy you with their calls every minute of the day. This is if you fail to pay on your due date. They will even call your friends or family members if you don’t answer their calls. It will be inconvenient for you and your family members. – Alec | Helpline PH