What Happens
When an individual downloads the application for accessing instant personal loan, many times they need to give permission to app. to access to their contact numbers, pictures etc., in their mobile. Though the process seems to be a hassle free, the loan providing app. generally asks for reference of aprx. 10 contact numbers. They also deduct heavy amount as processing charges before providing the loan. It is observed that in case the borrower defaults /delays the payment amount, they apply unethical and harsh pressure tactics. These tactics include sending notice or warnings to the reference contact numbers, calling and threatening the borrowers and their contacts with sever legal action and harassing them severely.