Cash Advance Now has quite a bit of business and there are a few complaints to be found floating around. This is your standard tribal payday lending operation if there ever was one, and the name of the company lives up to exactly what the company does for their customers, which is supply cash advance loans as quickly as possible.
Cash Advance Now wins the award for having the most streamlined (that means extremely short and the least invasive) of all tribal loan companies. The company just doesn't waste any of their customer's time and the number of questions was really short. This tribal lender really does have the two minute application process, and we all know that a lot of lenders claim to have "simple" or "easy" or "short" applications that in fact wind-up being pretty long and involved.
That's not the case with this tribal loan company, as it's just a few questions and then you hit submit to get your decision. And just for the record nearly everyone is going to be approved. The few instances where you would not be is if you are unemployed or you are receiving retirement income, and even there it's not a sure thing that you would be turned down, but the retirement income will be held to a little higher standard than the normal (working) income. Either way the income does need to be verified.
The question is what are people (customers, ex-customers) saying about Cash Advance Now? Are people happy with the service that this lender provides or are they complaining about them? To their credit Cash Advance Now does have some fans on the internet, including a couple solid supporters over at BBB. But on the whole the news is pretty bad, and that's to be expected from super high interest rate lenders that have tribal affiliations. That's not meant to be a slight against the tribes but the fact is that most of the tribal lenders have very high APR's on their loans.
Below is what a couple customers of Cash Advance Now had to say about their experiences...
Cash Advance Now keeps trying to intimidate me with arrest at my place of work unless I pay the company $500. The company is saying that I received a loan for $300, but my bank has confirmed to me that my account was never credited with those funds. They keep calling my cellphone plus my work phone trying to say that I will be in trouble with the law if I don't pay them quickly. Why should I repay if I never received any money from them and I just don't understand how they can expect me to pay for money that I never got from them? This is a crazy situation for me and I'm hoping that it will be resolved by someone at the company before too much longer.
Alright, so that's not a very encouraging concept. I have to say that while it's a frightening proposition to think of being coerced to pay money that you never borrowed I have to take this story with a grain of salt. Although it is possible that the "borrower" in this situation didn't borrow the funds it also is quite possible that he did get the money and is just trying to say he never got the money. Hard one to call here, but if the story is true it doesn't provide any good light for Cash Advance Now.
Here's another review from another thrilled customer...
When I first got a loan from Cash Advance Now I went with the $300 amount. I called on July 12th to see what the cost would be if I paid the loan in full and how much had been paid so far to the outstanding loan balance. The representative I talked to let me know that I would have to pay a total of $402.50 if I wanted to get this loan paid off in full and be done with it. Then I ended the call but called back in just a little bit to let the rep know that I was going to repay the loan in full next week but that I wanted to use a different checking account for the repayment. The rep said that was fine but that I would need to call back and make a special arrangement or else the company would simply use the account that they had on file. She mentioned that I could make this change up until three days before the scheduled transaction date. Flash forward to the future and my checking account has only $2 left in it because of course the lender took the money out of the original checking account and not the one that I had instructed to use. I specifically did not authorize this account to be used and it was used anyway. Of course I phoned the company and they said that since I never called back with the alternative checking account they took the payment out of the original one and that there is no possible way for the money to be refunded. I wasn't treated well and I feel totally disrespected.
Alright, so is anyone else seeing a problem here? Is it me, or should the customer have called back to make sure that the checking account they wanted to use was in fact used? I think I have to side with Cash Advance Now on this one, which is strange but true. What else could the firm have done? Not collected money out of the original account and not have access to the new account that was never provided? I would have been surprised if they didn't take money out of the original account.
Despite these somewhat tepid reviews where the customers are the primary culprits in their own financial demise I still can't say that Cash Advance Now is a tribal lender that I would like to use. The amount of time that their loans last and the amount of money you can borrow both come up short in my opinion, or at least in my expectations for what a lender should be offering.
Look to other Native American loan companies like Mobiloans or Plain Green Loans for longer term installment loans with lower APR's. And if you are in the market for a tribal payday lender than go look at RadiantCash with their specialized (graduated) lending program. Cash Advance Now isn't a bad company it's just that there are better companies out there.
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