A lot of you may have seen the television commercial from Western Sky Financial advertising a way to get an easy $5000 in your checking account tomorrow. Many may be wondering what's the catch and if there is any complaints against Western Sky Financial. Well, as the commercial states, it's easy to get the loan into your account and it's easy to get approved for it when you need emergency cash fast. However, there are two major complaints against Western Sky Financial that you should consider when dealing with them. The first one, is that "yes indeed, the money is EXPENSIVE."
Many people who had or have complaints about the company didn't realize that they could end up paying back $40,000 to take out a $5000 emergency cash loan. The borrowers found this out after they got the money and were set up on a payment schedule and then found themselves paying back close to $500 per month. Before you take out a loan with Western Sky Financial make sure, and this is in bold print here, MAKE SURE YOU DO THE MATH!
If you are taking out an emergency cash loan for $1000 or even for $5000 make sure you do the math to find out how much your monthly payments are going to be and how long you will have to pay it back. Some of these complaints that I've seen do baffle me because Western Sky has this information printed right on their website. So I guess the point is to not be so desperate for emergency cash that you don't read the information that's right in front of your face and then be surprised when you get the monthly payment bills.
They tell you straight out that the money IS expensive, and it is VERY expensive. So you have to make sure you know what you are getting into before you sign anything. Before you apply, go to their website and look at their loan amounts and payment schedule. They tell you right on the website EXACTLY what the interest rates are and what your monthly payments will be for any amount you borrow. Then go one extra step, and multiply the number of months you have to pay back the loan (x) the monthly payment amount. This, they don't have on the site, so you have to do it yourself. This will give you an idea of how much you will have to pay back in the long run, and it will help you decide if it's the right loan for you.
The other complaint that I've seen against Western Sky Financial is that they are really nice to you in the beginning but after they get you as a customer and you have signed on the dotted line, the customer service is not that great (I know, sounds like a relationship). However, if this doesn't bother you, then it should not be a problem.
A word of caution: Western Sky Financial owned and operated by a sovereign nation. Which means that even though it is on American soil, it is not governed by US laws. You should consider this seriously before you take out a loan with them. The FTC has got some cases out against them, but unless you are part of a class action suit or the FTC intervenes, there is very little that you, individually can do against them if you have a complaint. This is why it is VERY important to read what you are signing before you lock yourself into anything. This goes for Western Sky or any other loans you sign for.
There are plenty of other places you can get emergency loans quickly even with bad credit, so seek them out and weigh their terms against Western Sky's and choose the best personal loan to help you out of your emergency quick cash needs.