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You\\u2019ve probably seen those payday loan businesses in strip malls across the United States. They\\u2019re small one or two-room places with a desk and some crappy chairs and ridiculously gaudy signs. If you haven\\u2019t seen them, you have probably heard of their reputation as predatory lenders. They\\u2019ll give people a loan at an insanely high-interest rate against the person\\u2019s next paycheck, and tend to lock people in a cycle of debt that is very hard to get out of. While these places are bad, they have nothing on what goes on in India on a regular basis.\\xa0

Over in the Asian subcontinent, they handle this sort of thing digitally and there are too many different lending apps to keep track of. In essence, they operate on a similar model to the American payday loan companies. They offer small, short-term loans at a high-interest rate against the next paycheck. The similarities end there though. While American companies charge an average of 20% interest, their Indian counterparts often charge an interest rate of 80% or more. They also charge their victims in another way \\u2013 the lender demands access to all their data. So to get $40 at an 80% interest, you have to grant the lender\\u2019s app access to all the data on your phone.\\xa0

So what happens if you can\\u2019t pay? Does the company cut their loss and consider the data as payment? No. Not even close. They actually start harassing their victims. Calling and texting over 1000 times a day in some cases. Some people make use of multiple lending apps, making the problem even worse.\\xa0

I\\u2019ve used the term \\u2018victim\\u2019 twice now. That\\u2019s a pretty strong word and not to be thrown around lightly. Yet, it is perfectly appropriate here. With that kind of harassment, it is driving many to suicide, and straining every relationship the victim has as he struggles to figure out how to get out of this debt. They are also victims because often the terms of the app are in English which not everyone can read fluently, and even if they can, just like lenders here, the loan agent will do whatever he can to convince the victim that they can handle the loan without any problem, they have full confidence it will get paid back on time.\\xa0

There have even been some companies that would hire professional harassers to stand outside of a victim\\u2019s home or business and scream at and berate them for hours on end. Small wonder that some would be driven to suicide and no doubt to crime in a desperate effort to make the yelling and the phone calls stop.\\xa0

To add insult to injury, even after the loan is paid off, the lender still has access to the victim\\u2019s data, allowing them to increase their profits by collecting and selling it to third parties until the phone gets replaced.\\xa0

All of this has been made worse over the last year as many people throughout India have lost their jobs thanks to the response to COVID. Millions have found themselves going from working hard to get a little ahead to desperately scrambling to scrape by. It left these people open and vulnerable to predators who have no regard for the people they are hurting while they are getting rich.\\xa0

One way the Indian people can work towards ending this ridiculous cycle is to sign up with TARTLE. You can protect your data with us without giving us access to it. In fact, we never see our users\\u2019 data. We just give them the means to protect it. Once signed up, you can share your data on your own terms and make a little money in the process. Control over your data, financial compensation, and no harassment. That\\u2019s what TARTLE offers.\\xa0

What\\u2019s your data worth? www.tartle.co