This post is not to build any mindset or prove anything. It is just for info and awareness.
My experience was not very pleasant with slice and m still fighting with them, some of you are aware of it.
This company is operating like some Chinese loan app(if u have read news sometime ago, how unethically they were doing business).
Today, some one tagged me on twitter and here are its tweets.
As per his tweets, he failed to pay his slice emis and now slice is misusing his contact info and abusing them like what those fake Chinese loan lending apps did.
I can relate here too, they use foul language, shit messages and other ways as well to torture you.
so, be extra cautious before giving permissions and real all TnC (usually we dont) before giving your consent. Some apps are just giving baits ,dont fall for it. They are not worth your time.
Stay safe and take care.
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But that doesn’t give any permission to lender to threat or misuse the personal information.
This is the basic difference between a bank and these kind of apps.
Also, in my case, i wanted to pay/clear all the dues but they dont even have any foreclosure option, they will force you to pay with heavy interests. You can’t do anything.
I m not supporting Anyone …..
But every Loan Either it be Bank or from any app they all do same kind of behaviour So No any Loan/Postpaid service is Good
So Spend that much only which we can repay Else all facing same issue
Is that true . So, I will take loan and will not pay . Tell me process if this is easy
I understand them calling parents and siblings because that is done by every loan recovery agent. However calling random people from phonebook is just absurd and yes most chinese loan recovery apps do this. They should mention this practice of theirs clearly and in CAPITALS ( not within a 10 page doc) when a person registers on their app.
Cashback ka chakkar babu bhaiya
I think people should stay away from defaults/missed payments irrespective of the bank or some fintech loan provider.
Guess the app.
It happens when you visit a bar with expectations of getting milk. Thank god you’re in an overpopulated country where the law is process sluggard. If it was in any developed country then you would wither in jail or paying double interest.
Not supporting unethical practices of the slice or any other lending apps, but it’s first you who started the wrong thing. you may pay your EMIs by selling your mobile phone. Even if you’re broken to the ground, you may register yourself Financially Broken at the police station, they’ll protect you from lenders from any physical/mental assault.
As companies have staff to give them a salary, staff will also lose their jobs if we stayed on our typical mentality that online platforms earn millions so they’ll forget your debt.
No point of defaulting or denying repayment but on what terms!!. U took 100₹ loan and ethically u have to return 110₹ but these lenders will not allow you to pay 110 ( they dont have that option) , u have to pay 300₹ (charging hefty interests) , will delay your queries or quote false promises over call but deny to reply over email (or reply with a generic response), and u will end up paying heavy interests, useless penalties coz no govt body is monitoring them, and their unethical ways.
They only shows good reviews, tweets and offers to attaract as many innocent peeps as they can.
Again in most of the cases a normal guy wont default. Their unethical system made them to default.
You can’t even complaint to rbi ombudsman about slice coz its not even there in their list,but u can do that for any other well named bank/cc company.
I agree that any lender will do anything to recover their money, but i dont think sbi ,icici hdfc or any bank will call any random number from your contact list to harras them and defame you.
matter is simple. take loan only if you can pay it back or better yet, dont take it at all. i think all loan agents are same and all of them are equally stupid. this is not exclusive just to Slice or Chinese loan apps.
one must be careful while installing the app. we take the permissions for granted but they can be misused like this. i think this is the reason why i have gotten call from “SBI” asking for help in collecting loan from someone i have not spoken to in 6 years.
remember, easy money always come with problems.
Bank loans can take legal actions against the defaulters.
But in case of unsecured loans like this don’t think they can do much and that’s one of reason contact permissions is mandatory in such apps. And frankly it really hits people even better than the legal actions.
My SLICE app is installed in 2nd space. 
No contacts to capture or call them even if I miss any loan EMI or Card bill. ( Though I usually don’t miss or have any loan).
If anyone is not paying then banks or such apps will do something to recover their money ? Right I guess.
Leave Slice, even credit card companies do this. Leave CC companies too, Banks including SBI, put defaulter’s name n father’s name on public places. I’ve seen it.
The thing is, if you have taken a loan, you have to pay it back. Your personal reasons don’t mattr to loan issuer.
While @kartikxxx is at fault in this case (as he shared OTP accidentally) , there are a few points to note :-
1. These criticisms about slice are completely true – I have seen many reviews slice has a habit of publishing fake reviews or deleting genuine customer reviews from Playstore (this is very bad and after seeing this I went ahead and uninstalled the slice application right away)
2. Yes it gives a lot of cashback – at best case around 500/month profit but will they do forever? Most of us are blinded by these small cashback offers
3. Slice takes our full contacts and SMS access. This is a very big disadvantage and because of this it’s a complete NO for me. If I pay you ₹500/month (not indefinitely sometime will stop), will you give me each and every contact you have including SMS? The embarrassing situation when Slice agents call our relatives and abuse if for some unfortunate reason we are unable to pay far outweighs the cashback we earn.
4. Some will argue Slice does this as they have no collateral. Credit cards (ok forget proper banks) – even other apps for example Uni Card which is exactly same as slice doesn’t ask for SMS/contacts permission
We must read every line of an app before giving it access to each and every personal information and right to call everyone from our contact book
I have earlier appreciated and will also now appreciate @guest_999 as he mentioned in one thread whatever be the case he won’t open an account with Slice.
Others should follow this; I feel we are opening account each and everywhere without any thoughts
Brother, with god’s grace, i still have job, and these screenshots are from some twitter user, he tagged me coz i was also tweeting about slice.
I never default any dues (hopefully never will).
My case is bit different, fraud happened with me on slice and the fraudsters converts that spend into emis , unfortunately i have to clear those dues as well but slice has no feature to close this (foreclosure) as i dont want to pay extra (45%) interest and wanted to close this in one shot. Since they are working on this foreclosure feature (asper their verbal communication, never gave in written) they told me to wait but they are keep on imposing late fee penalties and sending me whatsapp message (email, message, app notification ls are normal) and calling me (not rudely till now) to harrass me from their recovery department (which is not at all aware of my case or have any authority to access my ticket).
Lender will surely take steps to recover their money, but there has to be some rules, they cant do public shame or call any xyz from ur contact list. Also, they dont even have basic foreclosure option then what kind of lending ethics they are following, what are their intentions. They are not at all secure (no transaction confirmation, no device registration or mac binding, just to name a few)
Todays Lesson: Don’t take udhari, warna fat jayegi tumhari!
Isliye 2 din advance me pay kar dete hai!😬
They offering amazing cashback! 😍😍
are these chinese apps registered with rbi? if not then can they touch credit score? @guest_999
few months back someone known to my friend took loan of 5000 by installing app in his 2nd phone.just 5 contacts were in that phone with fake numbers. and after receiving same he broke the sim. i do not support this action but ese tejasvi log bhi ha es desh me.
Just a guess that these apps probably transfer/resell bad loans to some other party who is a proper financial entity registered with rbi which then send default payment status to cibil but not sure.
And that person never faced any issue for not repaying that 5k loan?
As in, cibil impact or bad calls, what else can they do?
Sue GaragePreneurs Internet Pvt Ltd. for Rs.1,000,000/-
let the Cyber Crime Cell investigate whether it is hacked or users referred their number for the loan guarantee!
@MrKool_JJ is such sort of risks applicable in case of getsimpl.com ?
any dirty tricks simpl payments they apply to get us trapped?
Consider lender point of view also, I had given a 10k loan to a person working in dell (in 2018) via faircent , I am still waiting for my money. Warrant was issued against him but he is still not returning my money.
Recovery laws are very poor so social pressure is only way to recover money
P2p lendings are still very new and risky in the market, the mediator can only help you with the suggestions but they dont have power or authority to reciver the amount in case of default. (They are just earning a small free from lender and borrower and hence dont own any further ownership).
Similarly, bill lending (which will give you money on your bills) thing is also new.
Risks are very high.
its absolutely wrong from slice side, they are in lending business and the word business always includes risk in it. If a person is unable to pay due to xyz reason its unethical to do something like this. but the other party can always ask for one time settlement.
It’s not only slice every financial institutions which lend you credit/loans behaves the same way as slice. It’s is borrower responsibility to repay their loan timely else be ready to face misbehaviour from the lender.
Closed all 3 pay layers. 2 were with idfc, and 3rd was with Capital Float.
Has anyone here been able to successfully permanently close Slice account (not deactivate it but permanently close it and get NOC) and update status as closed in CIBIL?
So can I use slice for small transactions on swiggy and amazon?
Or should I completely stop using it? Are there cases where they reported dues even after paying them on time?
I just got it and then I googled and it was shocking.
@SparkRockerz;
Can anyone tell why the hell they are deducting 1000 of rupess after repaying them in advance am shocked to see there services .Not even a single call is being connected .now i wonder why the fuck should i repay them.
I think you should pay and get it done because they have all the rights to take that money from you. they are also suffering from pandemic.
