Cash Fairy is a Native American loan company that most people have never heard of. This isn't a Western Sky Financial or a Plain Green Loans. Cash Fairy is not the center of power when it comes to tribal lending. But at the same time this is a consistent, simple to qualify for, easy online lender that has a good following. Cash Fairy has the same design of other tribal lenders, like Plain Green Loans, where they are not bound by state financial laws and that's due to their sovereign status as a tribal lending entity.
You probably knew that already, otherwise you wouldn't be looking for Cash Fairy in the first place. Are you looking for some Cash Fairy reviews? One of the best ways to learn about any online business is to read what other customers from the past (and current customers) have to say about the company you are considering doing some business with.
Here is a good example of the customer interaction with Cash Fairy...
I decided to go with another company but at the last minute I went with Cash Fairy and initiated a payday loan with the company. It came to my attention that they weren't licensed to do business in my state of South Carolina and I let them know this important fact. Things got strange very quickly. My checking account was debited for an amount of just over $1,000 even though the original loan was for only $225. I let them know that I wanted to have the difference back from the company. My other request was that the company should consider my account with them to be fully paid and that they would not have any purpose in doing any further withdrawals. This situation when on for over a week and I told them that I wanted to revoke my permission for the ACH authorization agreement. In the end the company agreed to take care of the situation using a debit card but even that took too long to complete. There were several points in our ongoing conversations that the company just decided not to communicate and the whole process was a large waste of my time.
Alright, so there were some distinct problems with this customer working with Cash Fairy. First, it was never really fleshed out as to why a loan for $225 resulted in a deduction of over $1,000 from the customer checking account. It makes me a little suspicious about the customer, is that $1,000 being paid over the course of several repayments because if so that would be the interest charges. If we give the assume that this doubtful situation is going on just like the customer describes then Cash Fairy has no justification as to why they would drag their feet in returning the money back to the customer. All in all, it's just not a very reassuring review about this lender.
There are a few more Cash Fairy reviews floating around on the internet, here's one from September of 2012, where the customer writes...
Clearwater Lending, which is actually a company called Cash Fairy (CashFairy.com) keeps ringing my phone trying to get me to take out a cash advance through them, despite the fact that I never signed up for one of their loans. They call many times per day, sometimes early in the morning or into the evening. They want to know if I'm ready to take out a loan and I keep saying no to their requests. The calls are coming out of Florida and I just don't know how to get across to them the point is I don't want this loan. If I don't want a loan that means just that, I'm not going to take it out because I choose not to.
Alright, so this is an odd complaint because it's coming from somebody who is not actually a customer of Cash Fairy but rather someone who the firm got their name, most likely from a loan application which this potential customer didn't want in the end. I've encountered behavior like this from some tribal lenders myself.
If you apply for a loan and you are approved but then you have the audacity to not want one of these high priced loans you may start getting a barrage of phone calls that are almost insisting, but for me it wasn't quite that bad. These tribal lenders are sometimes very desperate sounding and it sounds like Cash Fairy can be pushy if you apply for a loan that doesn't go through, assuming you get approved for the loan. The expectation of these Native American lenders is that anyone who they can get to apply is that they should take out a loan once they are approved to do so.
That's about all I can take. In the end my summation for the Cash Fairy reviews that I found (including these two above and three others I didn't write about) is that the company is not that great. It's not that they are a terrible lender, this isn't like 500 Fast Cash, they aren't a totally worthless endeavor.
But at the same time there are many other higher quality tribal lenders such as Plain Green Loans or RadiantCash (especially if you are looking for a longer term, repetitive business tribal payday lender) that it makes a company like Cash Fairy more irrelevant than bad. I'm simply not interested in their loan products and the reviews didn't contain anything that seemed positive so my personal selection is to walk away from this moderately decent tribal lender.