North Cash is a small tribal lender that has been growing of late, and as they grow there are more reviews of the company being posted online. This is a great time to take a look at what customers and former clients are saying about this up and coming Native American loan shop.
I personally have no experience with North Cash so for this company we're going to have to take the word of the people who bothered to post information on the firm. Feel free to contribute any comments or experiences you've had with the company in the open comments thread below.
I'm truly disappointed in my lender North Cash, this company is really not a good company and it would be fair to refer to them as thieves. The company has a business model where they make money off your personal crisis. Turning desperation into your own personal piggy bank is not a moral way to conduct your business.
I will tell you now at the beginning that you must do your research when you are reaching out for financial help because there are so many predatory lenders floating around and it's very, very simple to get sucked into one of these easy money lenders. I will explain to you why you have to watch out.
My story was that I was looking at a small financial problem that I was going to be solved in about two months, so it wasn't the end of the year. I'm telling you this because my experience is not going to end well and I need you to understand the background of this whole mess.
I had not been in this situation before because frankly I always had money and never really was in a financial crisis or even a little financial trouble. So I suddenly felt this extreme pressure that I had to cover my costs and not come up short for the two months. Once you get under pressure that's when your mind tends not to think straight and instead of clear thinking I entered into what I know realize was a very foggy time, which was born from my financial difficulty and that creates a mental desperation.
One of my main goals going into this was to make sure that my credit score wasn't damaged. I knew there would be costs involved with lending and especially short-term lenders but I figured it would be worth it if I could preserve my above average credit score.
The decision I made was to take out a cash advance loan, yes just like the ones you see late at night on the tv. That plan made sense to me, at least that was my reasoning back then when it was going on. This wasn't the very first time I had used a company like this because I used the Check N Go company once before and their services had been very easy to understand with no gimmicks or tricks. They charged the fees and interest rate that they said they would charge.
Then there is North Cash the lender that I decided to go with more recently and God help me because these guys were not professional. But they are tremendously smart and quite clever when it comes to parting you from your money.
At first the North Cash people were very nice and they provided me many options on how to borrow from them. They were very flexible on how long I could take to repay the loan.
When I talked to North Cash I made things perfectly clear that I was going to repay my loan during the second month of the loan, not the first month. But that wasn't how it would be in the end because the loan lasted nine months and there were monthly payments made on the loan each month for roughly $120 each month. In the end I paid more than double the amount of the loan I borrowed and even after that I still owed $340 to pay.
This business is a great one if you don't care about morality and you just want to make a pile of egregious decisions that result in pure cash. I went through their customer service team and had some unhappy moments, some arguments, some fighting but it didn't matter. They have a set-up and that's just what it is, people are being trapped into these loans that just wander right into. I did pay that $340 just to escape their bad loan program. What an amazingly good business for them.
This is my fault for even thinking I could trust a company like this. If you want to give your money away then go ahead and cut a deal with North Cash. Try to find a good lender if that's a type of company that even still exists.
Alright, that's an ugly complaint. But I believe the customer and I don't see why anyone would bother to make-up that much information and the expanded story tells me this is a legitimate complaint. North Cash sounds interesting in that they only wanted / required a single monthly repayment rather than bi-weekly payments which is the norm for tribal lending.
The other problem here is I have to mention that it seems like the customer was at least partly responsible for this whole financial debacle. It sounds like the borrower was simply low on funds and didn't have the capability to repay in the timeframe that they had originally planned (wished) to do so. The problem is if you get into debt it always sounds easy to pay your way out of it, but then when the day comes to repay it's not that simple.
North Cash is not very interesting to me, although I am going to look into their single monthly repayment instead of the bi-weekly repayment that is so common. Despite that mildly interesting component I'm just not interested very much in their lending model.
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