New Vista Loans is living up to at least part of their name, and that's because the company is relatively new. Usually a tribal lender will have hundreds and hundreds of complaints posted online, some of which are pointless and others that are very informative.
In the case of New Vista Loans there just aren't that many, period. This might be a testament to the fact that the company is still too new to have complaints written against them, or it might mean the firm is not that bad and therefore has only a few complaints.
Sometimes when a tribal lender gets very little business it just means that the company has not been "discovered" online, and that the owners (the tribe behind the branded website company) are not willing to invest the money into getting new business, or if they do any advertising it will only be with some relatively cheap online banner type of advertising.
Since there is no one else complaining about New Vista Loans I guess I can be the first one. Now, I haven't used New Vista Loans personally so I can't vouch completely for the company, but after carefully scrolling through the company website it's safe to say that A) I wouldn't do business with the firm and B) if I did I would be complaining and if several hundred people did suddenly become customers you can bet that there would be several fresh complaints posted online against New Vista Loans.
Here goes some of my personal complaints...
1) I don't like the fact that the company has a page dedicated to "Rates & Terms" but when you visit that page it simply says "Coming Soon" rather than any information posted about their loans. That's not too cool, if you have a page that is supposed to provide that information (and I think all online lenders should disclose their interest rates) then the information should be there.
2) If you want to extend your loan it's not an automatic process as it is with most other online lenders. You have to first pay the minimum due for that time period (which of course if the finance charge) and then you have to sign a new loan contract. So each time you want to roll the loan over or do a partial repayment on the principal amount you need to be provided with new loan documents and sign (or e-sign) your new loan, even though it's just a continuation of the original loan. This is just a waste of everyone's time and a bother, it makes New Vista Loans look scared, silly and stupid. Evidently there must be a bunch of lawyers running the show over there, otherwise they wouldn't be so uptight.
3) The fact New Vista Loans is a payday lender is a problem just by itself. I would rather work with a tribal installment loan company like Mobiloans or Plain Green Loans. The tribal payday lenders are not willing to give enough time to repay the loan and their interest rates tend to be worse than the rates on tribal installment loans.
Overall, I just don't have a good reason to use New Vista Loans. Is this a complaint against the company? Sure, because if they provided more information, if they had longer loan timeframes, and if the firm didn't demand a new loan contract anytime an existing loan needed to be rolled over, then I might be more inclined to consider getting a loan from New Vista Loans. But as it stands now I am outsider complaining about what I'm seeing and my official advice is to stay away, and look to higher quality loan products from better tribal lenders such as Mobiloans.
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