Star Cash Processing must be growing quickly because the number of reviews online keep growing rapidly. The company is becoming a major force in the Native American lending business. Let's look at some updated reviews of Star Cash Processing...
Low and behold, the first review for the company is actually a positive review, where the customer is pleased with her service on a $350 loan. The customer writes "I got a $350.00 loan from star cash processing...they sent me not only the money that I requested but have not taken anymore out than the repayment that they told me that I would owe. I email them and ask them for help on the times that I can't take care of the whole payment and they work with me" and tha'ts one of the few positive reviews you will find on any tribal loan company. Star Cash can't be all that bad, even though I am more interested in Mobiloans despite the good review.
This next review wasn't so positive as the customer has just recently opened a new checking account and Star Cash Processing puts in a deposit (a loan, done via an electronic funds transfer) without any arrangement or deal in place to do so. The customer writes "this company put in money that I didn't even know anything about nor sign on the docket line for. Now, I have had payday loans before; however, I knew who they where" and this time he did not even know Star Cash Processing. Now if this sounds too unrealistic then stop thinking that, because this has happened to me. If you apply to enough short-term lenders (be they either tribal lenders or non-tribal loan firms) then at some point your information will get sold, loaned or otherwise shared with another loan company.
A very aggressive loan company. This more aggressive loan shop will make an automatic deposit into your checking account and then start to deduct funds two weeks later. No, there was no agreement signed and no there was no authorization to issue the loan, but that doesn't stop these highly aggressive (and criminal) "loan" companies. The customer continues by saying "This was totally unauthorized. If they had called me and then said that they had my account and they was putting money in it, then it might had been OK" but they did not have his approval and it was obviously not alright.
Let's move on to a third review of Star Cash Processing, which is technically more of a statement than a review. The customer writes "Star Cash Processing is not licensed in many states as well and loans money to people in states where payday loans are prohibited." That's a true statement, but at the same time it's a moot point. Yes, tribal loan companies are not licensed in the states in which they operate (usually it's all 50 states) but that's because they are exempt from having to get licensed. Native American lenders are (nearly always) fully sovereign entities, operating from official tribal lands recognized by the U.S. Government. Since they have this designation they are free from the obligation of licensing with the various state governments as a normal lender would have to do. So although it's a correct analysis by the customer it is not pertinent to Star Cash Processing.
One review that is very interesting comes from Melissa in Maryland and she writes "I was contacted stating there would be officers coming to my work to escort me to the court house and that I had received a loan for $120." Now this review opens the door to a great many more reviews (more like complaints) about Star Cash Processing. It appears that the collections part of Star Cash is super aggressive and that they make some outlandish threats against customers. And not just customers who have agreed to borrow money from the company, but also against customers of other payday loan companies. In other words it looks as though Star Cash Processing is operating not just their own collection team for their own past due accounts, but that they are operating some collections activities for other (outside) lenders as well. Whether these other payday loan companies are fellow tribal lenders is not clear.
Either way there are many hundreds of online complaints against their persistent and bullying tactics. There are dozens of claims where customers are going to face jail time, that their going to be arrested, that they are going to charged by an attorney or served a subpoena to go before a judge. All of these claims are 100% fake by the way, as a tribal loan company has no such ability / capability to bring their current or former clients into a courtroom. And they certainly do not have the power to have the police go make arrests on behalf of one of their loans that has not been paid.
Here is another scary instance that takes the form of a stunned (and negative) review of the firm where a would-be customer states "I went online to apply for a payday loan. I completed the application. However, I changed my mind and did not finish the process. Now I am threats of a subpoena" which of course is just an attempt to scare the non-customer into paying money for their non-issued loan.
Now this is the best, most descriptive problem that Star Cash Processing is causing. Below is a full layout of what the company appears to be doing in regards to their issuing of loans to people that are simply applying for credit, but not necessarily accepting the loan. There is a big difference and it's not legal to just issue a loan to someone who expresses interest in getting a loan.
Here is the (long) review...
"Same story here, I applied for a loan to get some established credit going. I realized this way was not a good idea so I never accepted any of the offers. Star Cash Processing then deposited $350 into my checking account without any acknowledgement or authorization from myself. After I found out I went to the bank, put a block on them, and gave the $350 back but now they are calling me at work trying to get another $590 they say I still owe them. They say I authorized the deposit when I applied for the loan (which was in fact not through their website) as well as they claim to have sent me email with the loan details and left a voicemail. Neither of which is true, they never contacted me in regards to the loan, they just deposited the money."
What a mess. Needless to say that not only am I recommending that people not do business with Star Cash Processing, but I would also advise not to even apply with this company as doing so may get you an unwanted and unsanctioned loan. Ridiculous behavior. This is the type of company that gives all lenders a bad name. Try to stay away from this outfit at all costs, or else you might be facing some high costs.
My experience with Indian loans isn't as bad as what I've read at this site or at other sites. These guys approved me quickly, I mean like within a few minutes. I did have to pay some interest but it wasn't too bad I was out $90. Not to sound like some ad for the lender but it was really helpful to me and it bailed me out of what would have been a true mess. Things still weren't great don't get me wrong and I don't want to go around throwing $90 in the trash everyday, but they did deliver fast like they said they would and it helped. So for all the complainers I just want everyone to know that there is some good that these companies accomplish too. Might not be that way for others, sounds like a lot of folks get burned, but I'm not one of them.
Posted by: Local T Eddie | 10/29/2013 at 11:22 PM
Forget new reviews or old reviews, you only need one review for Star Cash and that's that they will take your money every single time you deal with them. High cost lender not good for you or me.
Posted by: Drusk | 10/31/2013 at 03:17 PM