Payday loans can be the cause of much grief for borrowers and in my last few reviews I’ve shifted through the good, the borderline and the ugly.
For my next review, I’m taking a look at CashNetUSA.
This review will take a look at the complaints relating to CashNetUSA and I’ll determine whether it is a legit, ethical company.
“Is CashNetUSA Scammy? Can They Be Trusted??”
Upon trawling through tons of reviews, endorsements and by calling their helpline to quiz the staff, I can safely say that CashNetUSA can be trusted and they are a legitimate company.
Here are the main concerns raised and the truth behind it:
- Unprofessional debt collection agency demanding money
It appears that a group of scammers claimed to be from CashNetUSA in order to build legtimacy. They then try to scam you out of money.
CashNetUSA’s in-house collectors follow strict procedures and industry best practices. Things that should give it away that you’ve been called by a scammer and not someone actually representing CashNetUSA is the following:
- You paid back your loan in full.
- The caller threatens violence, intimidation or uses foul language.
- The caller threatens arrest or other criminal action, or references your driver’s license or check fraud.
- The caller threatens to garnish your wages.
- The caller is unable or unwilling to provide loan agreement information or payment history when you ask for it.
If you think you may have been contacted by a scam debt collection agency, click here for guidance from CashNetUSA themselves.
- They charged me tons of interest after I didn’t pay the loan back
If you don’t pay your loan back in time, you will be charged tons of interest – simple. The precise level of interest and fees will be laid out when you take out the loan.
Unfortunately, many people take out a payday loan without being 100% sure they can pay it back. If there are any doubts in your mind, please don’t take out a payday loan as you can soon end up in a downward debt spiral.
“What’s So Good About CashNetUSA??”
I’ve come across many payday lenders and CashNetUSA is amongst my favorites for the following reasons:
- After you select your state on their site, you’ll be presented with a pretty little table which shows you exactly how much you’ll have to pay back depending on how much you borrow.
- They have 24/7 customer services and a live chat which has always been available when I’ve logged on the site. This really helps those customers who run into trouble or unsure about how things work.
- They are accredited by the Better Business Bureau and their complaint history shows that they handle them well
- Their site doesn’t contain high-pressure sales material and they spell everything out in plain English
“In What Circumstances Should I Take Out A Loan With Them?”
If you’re reading this before taking out a loan with CashNetUSA, it shows that you’re responsible and you’re doing your research before jumping in. Good on you.
You should only take out a loan with CashNetUSA if:
- You can’t raise money elsewhere. For example: friends, family, by selling stuff on eBay, to a pawnbroker, etc.
- You’ve tried to make money elsewhere. Maybe by working extra shifts or looking at alternative ways to make money.
- You’ve considered getting a loan from a credit union.
- You know that without a shadow of a doubt that you’ll be able to pay the loan back on time.
- You’re using the loan for something essential and NOT to get into more debt e.g. by buying a car.
CashNetUSA is a legit lender and they have many ethical traits which make me favor them over the competition.
The company ranks high on the legitimacy chart:
Feel free to leave your comments on CashNetUSA or payday loans in general below.