Payday Loan Trust

Payday Loan Reviews: Who to Trust? 2022

It was with some trepidation that we decided to publish reviews of payday loans on their own website. The primary reason for this is that we do not endorse them, and the vast majority of the time, using them would not improve the problem at all. Read our in-depth piece on the perils of getting a loan for a limited period of time if you’re curious about the reasons why this is the case. Now, here’s the deal with payday loans: yes, getting one is almost certainly not a smart decision. But the fact of the matter is that people still use them, and there are situations in which using them can be beneficial. It is in your best interest to work with a direct lender if you are going to obtain a payday loan through a financial institution.

This indicates that you are communicating directly with the financial institution that provided you with the loan. There are a large number of companies offering payday loans that do nothing more than sell your personal information to whoever offers the greatest price. The best-case scenario would be if you were to end up working with one of the direct lenders that we have listed. Even if the worst case scenario occurs, there is no telling what could happen. The Consumer Financial Protection Bureau (CFPB) and state authorities have established stringent criteria that these direct lenders are required to follow. If they don’t, they risk enormous fines as well as the threat of having their business closed down. Believe us when we say that when the Consumer Financial Protection Bureau comes around to do its audit, it is a chaotic time at their offices.

The purpose of both this page and the reviews of the companies was to provide you with the information necessary to make an educated choice and stay away from con artists. It is important to keep in mind that these reviews only include the internet component, and for the most part, they are only an overview of the organisation. The majority of direct lenders had their beginnings as stores, and the majority of them currently operate hundreds or even thousands of locations. You are able to search up reviews of the store on Google, but we have no personal experience with them. We also have a section dedicated to more conventional types of personal loans, should you be interested in those. Repairing your credit should be something you look into if you find that you are unable to secure a good loan.

Check Into Cash

Check Into Cash was first established in 1993 in the city of Cleveland, Tennessee. They operate over 1,000 stores spread over 28 different states. It looks like they launched their website sometime between the end of 1998 and the beginning of 1999. The opportunity to apply online was introduced in the year 2008. You were actually just transmitting information to them when you filled out many of these early online forms; they still needed to be finished in stores. A short while afterwards, lenders began offering loans that could be completed entirely online and paid directly into your bank account.

The fact that we did not uncover any specific legal action taken against the corporation is a positive development. Direct lenders are such like Check Into Cash. They have a section of their website that is devoted to their charitable work. They make donations to a number of different charitable organizations, such as the Salvation Army, Habitat for Humanity, the American Red Cross, Boys and Girls Clubs of America, Relay for Life, the United Way, TN Achieves, and the Indiana Coalition Against Domestic Violence. Even while the business model still has a tendency to exploit people who are least able to afford it, at least they are contributing to the community as well. There are quite a few financial institutions that support charitable organisations.

Which states are eligible for a loan from Check Into Cash?

They are currently active in the following states: Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Nebraska, Nevada, New Mexico, New Mexico, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Virginia, Washington, Wisconsin, and Wyoming.

What kinds of financial services does Check Into Cash provide?

  • Loans on Payday and Vehicle Titles
  • Installment Loans
  • A Term Credit Arrangement
  • Flex Loans
  • Cashing Checks and Paying Bills
  • Western Union
  • Cell Phone Accepting U.S. Money Cards Top-Ups
  • Cash Value for Gift Cards

What Can You Learn About Check Into Cash from Their BBB Page?

The Better Business Bureau (BBB) recognises Check Into Cash as one of the few payday lenders that we have researched and found to be in good standing. They have been doing this since the year 2000. Ratings of businesses are provided by the BBB regardless of whether or not the firms are accredited. At this time, Check Into Cash has been given an A+ rating, but virtually every other payday lender also has this rating. There isn’t much else on the page that’s noteworthy to mention. They have one review that is critical and 29 customer concerns.

LendUp Review: Just Another Payday Loan? 2022

The history of LendUp is quite fascinating. Lendup, in contrast to the majority of other short-term lenders, did not begin as a brick-and-mortar location before expanding their operations online. They are a product of the current growth in the startup technology industry and are a website that was intended to “disrupt” the payday loan industry. Here is a video of Sasha Orloff and Jacob Rosenberg, the company’s founders, giving a presentation at the financial startup incubator known as Finovate. Although it’s interesting, it doesn’t really provide any light on what’s going on with the company right now. In this evaluation of LendUp, we analyse what the platform actually entails.

LendUp has excellent marketing and design, and the company has made a concerted effort to differentiate itself from the payday lending sector. Even the name of their website, Payday Loan Alternative, makes this clear. It seemed really strange that they advertised on payday keywords while also having a number of pages on their website that targeted keywords related to payday loans. This does not imply that LendUp is a dishonest or otherwise unethical business, but they were extremely dishonest about what they were. You are free to operate as a payday loan business, but you shouldn’t try to conceal this fact. Regardless, it was a very clever marketing move.

Which states are eligible for loans through LendUp?

They currently lend in the following states: Ohio, New Mexico, Washington, Maine, Oklahoma, Louisiana, Florida, Texas, Wyoming, Alabama, Idaho, Indiana, Illinois, Mississippi, Oregon, Kansas, California, Missouri, Tennessee, and Minnesota. Other states in which they lend include Oregon, Kansas, California, Missouri, Tennessee, and Minnesota.

LendUp in Hot Water

In the course of my research for this review, I came across some information about LendUp that was really predictable. In a nutshell, Lendup failed to fulfil a significant number of their commitments to their customer base. The Consumer Financial Protection Bureau (CFPB) investigated LendUp in September of 2016 and identified a number of problems with the company. The Consumer Financial Protection Bureau (CFPB) is the primary government body in charge of monitoring the payday lending business. The results of their investigation were quite damaging.

Before we get into the nitty-gritty of this topic, let’s take a look at a number of the factors that LendUp said set their product apart from the competition. Customers who come back again and again are rewarded with lower interest rates. The most important one was that they claimed you may improve your credit rating by using their product because they would submit on-time payments to the credit bureaus. In most cases, this was not something that payday lenders did for short-term loans. If you are serious about repairing your credit, you can get started on the process right here on our webpage.

The findings of the CFPB are as follows:

  • Consumers were misled about their ability to graduate to loans with lower interest rates.
  • Hid the real cost of the credit they extended
  • Price reversals were made without the awareness of the consumer, and the yearly percentage rate was inflated.
  • Failed to report facts regarding one’s credit history

It appears that virtually everything that differentiated them from conventional lenders was an illusion. As a direct consequence of this, they have been ordered to repay 1.8 million dollars to their consumers, pay a fine of 1.8 million dollars, and cease any misleading actions. Even though I highly doubt that you are interested in reading all 25 pages of the verdict, here they are for your convenience.

Now, I don’t know how you feel about this, but we’re suspicious of any corporation that builds its entire operation on a foundation of lies. From the very beginning, they appeared to have sophisticated technology and quick talking. Is there anything left to recommend them now that everything has been taken away? Let’s check out what other people have to say about the company.

LendUp Reviews From Around the Web

BBB Reviews

We believe that the Better Business Bureau is the one area where you are least likely to uncover a bunch of biassed fluff while looking for reviews of a firm. Unfortunately, the LendUp page is not very good; in fact, that is where we discovered the information for the CFPB ruling. There are currently 6 good ratings, 0 neutral reviews, and 19 bad reviews for this company. They have received seventy separate complaints. On their BBB page, LendUp includes something that we have never seen before.

There is a large number of companies that do not have accreditation, which is not necessarily a bad thing. Accreditation from the Better Business Bureau is not required of a company in any way, shape, or form. There are even those who hold accreditation who later lose it. But this is the first time we’ve seen it revoked, and it happened with LendUp. The picture is every bit as devastating as the phrase is. We are going to infer that this is because the CFPB caught them engaging in a large number of illegal activities (or not doing).

Other LendUp Reviews

The overall rating for Karma among its 108 customer testimonials is 3.5 stars out of 5. Not too awful. They have received 688 ratings on Trustpilot, accumulating to a score of 9.5 out of 10. Because we have first-hand experience with how easy it is for businesses to solicit consumers from whom they know are likely to offer positive feedback, we are somewhat suspicious of the scores provided by Trustpilot. On the LendUp page, it states that the company does not believe it is soliciting ratings on Trustpilot; but, who knows for sure. We searched Google and Facebook, but could not come across any reviews there.

LendUp Review: Bottomline

When LendUp first appeared on the market, we were sceptical about the company. It sounded wonderful, almost too wonderful to be true. It became clear that this was the case. Despite this, it appears that they have a sizable number of satisfied clients. They could have become the leading payday lender in the country if they hadn’t made so many claims in the beginning and then reneged on those claims through deceptive practises. Yes, we said payday. It’s semantics, call a spade a spade. This is a short-term loan with a very high interest rate.

In the beginning, LendUp will provide you with a loan of up to $250. They use a tier-based structure, and if you put in the time and effort, you can eventually earn $1,000. It appears that this is the maximum loan amount that they will currently consider. Anyway, it’s up to you. They appear to be a lot more like a typical lender for short-term loans now that they have been subjected to stringent regulations. This is not necessarily a negative thing, but it is how they are.

Speedy Cash Payday Loans Review 2022

In 1997, three buddies from Kansas launched what would later become Speedy Cash. Riverside, in the state of California, was the location of the first store. They are now established in the United Kingdom, in addition to having a presence in the United States and Canada. Outside of the United States, you’ll find them sold under a variety of brand names. Although Speedy Cash is mostly an online business, they do have a significant number of physical locations. Unfortunately, we were unable to locate the precise number.

After doing some research on the Internet Archive, it appears that the website in question was first published in 2007, despite the fact that the domain had been owned previously. 2008 was a year that was filled with a lot of action. According to the information that we have, they began selling loans online in the same year. Because they are an authorized direct lender, you will be interacting directly with them throughout the process.

Which states are eligible for a loan from Speedy Cash?

At the present time, Speedy Cash is active in the following states: Alabama, Alaska, Arizona, California, Colorado, Delaware, Hawaii, Idaho, Illinois, Kansas, Louisiana, Mississippi, Missouri, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, Tennessee, Texas, Utah, Washington, Wisconsin, and Wyoming.

What kinds of financial services does Speedy Cash provide?

  • Payday loans
  • Title loans
  • Installment loans
  • Credit access methods
  • Changing of Checks
  • Cash equivalents on prepaid cards for gold

What Can You Learn About Speedy Cash from Their BBB Page?

There is not a lot of feedback in the form of reviews available. They have 111 customer complaints listed on their main page (it is possible that each physical location has its own BBB page), but their overall grade is a B, indicating that they do make an effort to respond to client grievances.

They Have a Mascot!

Therefore, the majority of companies that provide payday loans take themselves rather seriously, as they should. On the other hand, Speedy Cash has a mascot for some inexplicable reason. His name is Roo, and he is a kangaroo, as you can obviously deduce from his moniker. He visits a variety of establishments and performs the duties expected of a mascot for a payday lending company.

This reminds me of Joe Camel, in which a cartoon character is used to make an unhealthy activity look like a lot of fun despite the fact that it’s bad for you. Despite the fact that payday loans won’t directly cause cancer, it’s still in your best interest to steer clear of them whenever possible.

Ace Cash Express Payday Loans Review 2022

Ace Cash is the most established provider of payday loans that we are aware of, having been in business since 1968. They are a name that is well recognised and have a large presence across the country with their numerous retail locations. They were also caught engaging in some really unscrupulous behaviour toward clients. The majority of the businesses that we do business with are substantially younger than Ace Cash Express. In the year 1968, they established their headquarters in Irving, Texas. To tell you the truth, back then we were completely unaware of the existence of payday loans.

In light of the fact that they have been there for such a long time, you would think that they would be proud to share their history with you, however we were unable to locate very much information about their past. The majority of payday loan organisations make a big deal out of their history; their websites are filled with photographs of their first store, old company logos, and anecdotes about how the founder (or founders) got their start. Oh well, it’s none of my concern, and in the grand scheme of things, all that counts is the present moment anyhow.

We just deal with the online component, therefore we like to look through the Internet Archive to find out when the website first went live and when they began offering online lending. Since 1997, which, in terms of Internet years, is practically an eternity, Ace Cash Express has maintained a website. The website had a significant facelift at the beginning of 2009 and started accepting applications online at around the same time. Ace Cash operates about 1,500 physical locations in addition to their extensive internet presence. Direct lending is what Ace Cash Express specialises in.

Which states are eligible for a loan from Ace Cash Express?

The following states are currently included in Ace Cash’s service area: Arizona, California, Colorado, Delaware, Florida, Georgia, Idaho, Indiana, Kansas, Louisiana, Minnesota, Missouri, New Mexico, Ohio, Oklahoma, Oregon, South Carolina, Tennessee, Texas, and Virginia.

What kinds of services are available with Ace Cash Express?

  • Personal Loans and Installment Loans Payday Loans
  • Prepaid Debit Cards
  • Loans Against Title
  • Tax Administration
  • Cashing Checks and Making Payments on Bills
  • Transfers of Monies
  • Money Orders
  • Business services offered by MoneyGram We have no idea what this may possibly mean.

What Can You Learn About Ace Cash Express from Their BBB Page?

It appears that Ace Cash follows a business model that is quite common for the payday loan sector. There are not many reviews, but there are many complaints. They do not have accreditation, yet they are able to keep an A+ rating, indicating that they do something to resolve customer concerns.

Government Action Against Ace Cash Express

Back in 2014, the CFPB took action against Ace, and the BBB page alerted us to this fact. They were ordered to pay a fine of 5 million dollars in addition to making compensation to customers in the amount of 5 million dollars. It was discovered that they were engaging in unethical methods of debt collection, such as threatening delinquent consumers with jail time and other similar actions. In addition to this, it was discovered that they were purposefully driving customers deeper into debt cycles. This is a very shady business.

Check ‘n Go Payday Loans Review 2022

In the year 1994, the Check ‘n Go franchise got its start in the greater Cincinnati area. Their first location was actually in Covington, Kentucky, which is on the other side of the river. Since then, they have expanded to give loans online in addition to servicing a greater number of states. According to the records kept by the Internet Archive, the website first went up in the year 1998; however, it does not appear that much content was added until the year 2002.

2009 marks the debut of the very first application to be submitted online. Although the procedure wasn’t even close to being as streamlined as it is now, it was a beginning. It appears that 2008 to 2009 was the general turning point when lenders switched from having a website that was merely informational to having one that allowed people to apply. We were unable to locate any kind of precise data, but our research suggests that the corporation operates somewhere in the neighborhood of 1,200 retail outlets. Check ‘n Go is a company that acts as a direct lender.

Which of These States Does Check ‘n Go Serve as a Lending Partner?

The following states are currently served by Check ‘n Go’s operations: Alabama, California, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Kansas, Maine, Michigan, Mississippi, Missouri, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Texas, Utah, Wisconsin, and Wyoming are the states that belong to this category.

What Kinds of Services Does Check n’ Go Provide?

  • Personal Loans and Installment Loans Payday Loans
  • Prepaid Debit Cards
  • Cashing of Checks

What Can You Learn About Check n’ Go from Their BBB Page?

They only have 8 BBB reviews total, with only one favorable review, one neutral rating, and six negative reviews. Despite the fact that there have been 204 customer complaints, they still have an A+ rating. They do not have the necessary credentials. In contrast to some of the other businesses that we have researched, payday loan companies do not typically have a large number of reviews posted on the BBB website.

The Consumer Financial Protection Bureau did not appear to have taken any regulatory action against Check ‘n Go, which is a positive development. We haven’t been able to uncover very much more information that pertains to the organization. Fairly standard fare, although in comparison to some of their rivals, they appear to adhere to the rules with greater diligence.

Advance America Payday Loans Review 2022

Our best hypothesis is that Advance America got its beginnings in the year 1997 in the city of Spartanburg in South Carolina. That is the location of their current headquarters, however we have been unable to locate any information regarding the original location of their business. They have around 2,100 locations, making them one of the largest storefront lenders.

They also have a strong presence on the internet, however it is not on the same level as their physical stores. Although they launched their website in 2001, for the first few years it was somewhat underdeveloped. It appears that they started offering loans via the internet in 2008, the same year that many of their other competitors did. Direct lending is what Advance America does.

Which States Receive Financing From Advance America?

Advance America’s operations can currently be found in the following states: Alabama, California, Colorado, Delaware, Florida, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Missouri, Mississippi, Nebraska, Nevada, Ohio, Oklahoma, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, and Wyoming.

What Services Does Advance America Offer?

  • Payday loans
  • Title loans
  • Installment loans
  • Tax Administration
  • MoneyGram is a Service Provider.
  • Prepaid cards

What Can You Learn About Advance America from Their BBB Page?

Aside from 195 customer complaints, the Better Business Bureau page is basically bare. Although they do not have accreditation, they have been given an A+ grade.

The two sections that follow contain the most important information that we gleaned from the BBB page. These sections cover government action and scammers who use their name. You can view their complete BBB page on this link.

Actions Taken by the Government Against Advance America

In 2015, the business reached a settlement with the state of Pennsylvania that required it to reimburse clients for a total of 8 million dollars. They also discharged an extra twelve million dollars’ worth of customer debt that was owed to them. Two million dollars were given to the state government. It appeared as though the allegations were based on the interest rates that they charged in addition to other violations of the Consumer Protection Law.

It appeared as though the allegations were based on the interest rates that they charged in addition to other violations of the Consumer Protection Law. You can access the full document through this link if you’d like to read it in its entirety.

Scammer Alert

In June of 2016, it was brought to people’s attention that con artists were utilizing the Advance America moniker in an attempt to con them out of their money. The whole con consisted of obtaining personal financial information from clients and then billing them in advance for a loan that never materialized. They would explain it away by saying that it was an administrative fee or anything like to that.

Bear in mind that even though the fraud used their name, the perpetrators could just as well have used the name of any other payday lending firm. You should never be required to pay any kind of fee in order to obtain a loan from a payday lender. When you repay your loan, you will be responsible for paying back all fees. I beg you, do not give in to this.

In point of fact, you should never transfer money to anyone who claims to be representing an organisation. Scams involving the Internal Revenue Service occur annually. Put the phone down if someone pressures you to send them money, gift cards (really), or anything else.

If you are certain that you have a financial obligation to the organization, you should get in touch with them again using the dedicated customer service line. Tell them what happened because it could assist the company warn others to be on the lookout for the same thing.

Rise Credit Review: Are They Really Different? 2022

One of the most recent companies that provides short-term loans is called Rise Credit. They went into business in 2014 and have their headquarters in Fort Worth, Texas. They have, as the name of their company suggests, boarded the same credit-building hype train as LendUp. But Rise Credit didn’t make nearly as many bold claims, so it didn’t get in trouble with the Consumer Financial Protection Bureau.

They offer a complimentary service known as Credit Score Plus, which is discussed in more detail in the following section on their services. They also provide instalment loans for larger sums, ranging from $500 to $5,000 in currency value. Even if everything is perfect, this loan will still cost an extremely large amount of money. Rise Credit is a direct lender that operates online and does not have physical locations.

Which states are eligible for loans through Rise Credit?

The following states are currently included in Rise Credit’s service area: Alabama, California, Delaware, Georgia, Idaho, Illinois, Kansas, Mississippi, Missouri, New Mexico, North Dakota, Ohio, South Carolina, Texas, Utah, and Wisconsin.

What kinds of services are available through Rise Credit?

Installment loans

Credit Score Plus is a term for. When paid for with Rise Credit, this item will not be charged to your account. You will also be able to view your credit score from TransUnion and receive alerts regarding any changes to your credit report. It’s a good perk to have.

What Can You Learn About Rise Credit from Their BBB Page?

The Rise page on the Better Business Bureau is actually fairly good for a lender who provides short-term loans. We believe that the fact that they are an online-only business and that their customer base is accustomed to writing reviews online accounts for the disproportionately high number of reviews that they have. Rise has received a total of 91 complaints, 14 favorable reviews, and 18 bad reviews. At this time, they have earned an A+. This is the page for the Better Business Bureau.

What exactly is going on with Rocky?

To address your question in a nutshell: we have no idea. A considerable advertising push was initiated by Rise a few years ago, and one of the foundation’s advertisements featured Rocky. It was the iconic scene in which he runs up the stairs while everyone cheers for him and everyone likes him in general.

It was just incredibly strange that MGM agreed to let Rise utilise this material, which is certainly the scene from the whole series that is the most well-known. Even while they have a professional appearance, they are in reality a high-interest, short-term lender.

It would appear that they are no longer affiliated with one another, and one would have a difficult time locating a great deal of information regarding them.

Leave a Reply