Western Sky Financial - WARNING-

sushi wrote:

Are they the old CashCall?

No, Cash Call is still operating, and on basically the same rates.

To borrow $5,000.00, you will pay back over $40,000 during the course of the next seven years. If the injuns are starting a war with the poor, which are the ones that need the cash, they need to becareful, they may get run off the reservation.

Bob Barker wrote:

<quoted text>
Legal loan sharking...Thanks for the warning.
I wonder if they also break legs if you fall behind?

I think ur interest rate calculation is wrong. Installment contracts come with interest charges called an apr (annual percentage rate). The interest is calculated simply by taking the original loan amount and dividing it by the yearly term and then multiplying each yearly balance by the apr. for example: a $10,000 loan at an apr of 18% for four years would be 10,000 x .18= 1,800(1st yr interest) then 7500x.18=1350(2nd yr interest) 5,000x.18=900(3rd yr interest) then 2500x.18=450(4th yr interest). Now we add the interest charges together. 1800+1350+900+450=4,470+10000= 14470. That is the total. Now it seems like that would be an interest rate of almost 50%. But it is actually 18% apr. I hope this clarifies a little. The apr does seem to be extremely high in ur examples though. Before agreeing to any loan terms u should find out where the company is located and check with the lending laws in that state to see what the legal usury rate is and then make ur decision based on the facts.

I just did the math for the $5,000.00 loan... A $75.00 fee is added to the loan so you are financing %5,075.00 for 84 months (7 years)
@ 116.73%=$486.58/month =$40,872.72 total payment...

GREAT RATES!!!

I was thinking about trying them, but this has definitely changed my mind. I just don'se why everyone has to be so awful to the people who post here. there's no reason to call people stupid or anything of that sort. we all have our own opinions and no one should judge those people whose opinions differ. i appreciate the info on this company, but those who are judging others really shouldn't. at least not without knowing the whole story.
I know i dug my own hole. i've realized just how deep lately. but some people actually didn't and i would hope that they recieve better help than i do. please stop judging.

**I just DON'T SEE why...** sorry typo.

NativeDaughter wrote:

<quoted text>
Can you blame 'em?

I can blame them. They have every tax break and make a mint on tobacco and casino revenue. It's been centuries now. I think they got plenty back. Time to stop asking for more help from the people who actually built this country up from tepees and wigwams.

And now after seeing the interest charges they get...do we wonder why they can afford those expensive tv commercials?

beckamo2002 wrote:

I love the comment "stay out of debt". Well not all of us buy and buy and buy and are still in debt due to unforseen circumstances! For example: an ex-husband that walked out on me and 4 kids and REFUSED to let me get a college education and now refuses to pay child support. My fault? yeah I suppose so for thinking my husband would be with me for ever and I wouldn't be worried about how to pay my rent so me and my children aren't evicted! Sorry for trying to find a way to make things work in a world that doesn't help the underdog!

1. I have 4 girls pay child support and work for a legal company for legal money. That man???, ought to "GET A JOB!!"
2. You made choices and i don't mean bad twards you kids but you didn't make good ones,"MARRIED THE WRONG GUY"
3. Use the systems afforded every human in this country of legal age, get your GED or if already get on the web and search local university's and APPLY!!
4. REMEMBER : ONLY YOU CAN CHANGE YOUR LIFE ON THE HEAD OF A NEEDLE! YOU JUST HAVE TO WANT IT BAD ENOUGH!!!!

Yes, all of us can add, subtract, multiply, divide perfectly well. We also understand how the loan process works. What we don't agree with is being ripped off by legal "loan-sharking" that tries to take advantage of people in desperate situations. America was built on capitalism so it's easy to understand that borrowing and repaying loans keeps the economy moving. Having said that, you wouldn't pay 199% interest on your home or car loan, would you? My point is, that there is nothing wrong with borrowing money but lenders have to be fair and Western Sky and companies like them are predatory and unfair. I'm completely lost on what you mean by "they learned from the best". Over 80 percent of Americans have some type of blemish on their credit that has nothing to do with being irresponsible or reckless. The remedy to solve this problem is to simply disallow excessive interest rates to be applied to consumer loans. Yes, it would be fair for a lender to charge a slightly higher interest rate for a customer with bad credit but there should be a fair limit and 199 percent is certainly not it!

DLA wrote:

I see some of you can add and multiply.If you add up any loan it comes out to be a deeper debt. Can't put the blame on just one loan company,like Western Sky Fin. after all they learned from the best how to take what you want and not pay for it and scam the man for what you can get. You taught 'em well.

Are they legal in NJ?
File cOmplaint with FTC & your states Banking & Finance.
Has anyone been sued?

Please don't.

just checking wrote:

I was thinking about trying them, but this has definitely changed my mind. I just don'se why everyone has to be so awful to the people who post here. there's no reason to call people stupid or anything of that sort. we all have our own opinions and no one should judge those people whose opinions differ. i appreciate the info on this company, but those who are judging others really shouldn't. at least not without knowing the whole story.
I know i dug my own hole. i've realized just how deep lately. but some people actually didn't and i would hope that they recieve better help than i do. please stop judging.

went there once back few years ago and try to get 2,000 dollars for 6 month and believe me i was going to pay back 3,500 hundred a 1,500 dollars profit for 6 mo. so i told them know and if i could get my money out of the 401k can i invest it in there 75% profit money scam and they told me it was own by someone in florida,,,,..., so why do the att. general let this happen in ky because hes getting his cut out of it.

beckamo2002 wrote:

I love the comment "stay out of debt". Well not all of us buy and buy and buy and are still in debt due to unforseen circumstances! For example: an ex-husband that walked out on me and 4 kids and REFUSED to let me get a college education and now refuses to pay child support. My fault? yeah I suppose so for thinking my husband would be with me for ever and I wouldn't be worried about how to pay my rent so me and my children aren't evicted! Sorry for trying to find a way to make things work in a world that doesn't help the underdog!

If your not successful currently then no college degree will ever get you there. It's about hard work. I never went to college now I pull in six figures a year. I'm sorry you chose the wrong guy and also decided to have four children before you could financially support them but you are really not an underdog. You just made the wrong choices.

DLA wrote:

I see some of you can add and multiply.If you add up any loan it comes out to be a deeper debt. Can't put the blame on just one loan company,like Western Sky Fin. after all they learned from the best how to take what you want and not pay for it and scam the man for what you can get. You taught 'em well.

what a joke. find me one respectable financial agency that will let you borrow 2500, and make you pay back over 10,000. so YES..you CAN blame just one company

NativeDaughter wrote:

<quoted text>
Can you blame 'em?

Yes you can! Some people just can't let go.

Then there are unforeseen things, like tax assessments from your local or federal tax authorities. The burden of proof is on the taxpayer, not the authority. This means they can send you a demand notice for, say, unpaid taxes in 2007. They come up with a figure then put penalties and interest on it going back to 2007. But you just got the notice today, so how can they penalize you? if you want to argue the point, you can take them to tax court. But that can take months or years, and the interest and penalties accrue. How about an Offer in Settlement? Can take up to a year, the state Attorney General has to sign off on it, and the taxes and penalties accrue in the meantime. So most people throw up their hands in exasperation and pay the bill. This is what makes people crazy and causes them to find a ready source of money. Banks wont help, because the need for the loan is the very reason the loan doesn't get approved. Catch-22. Fair Lender Credit Act, my butt. This is why federal and state tax codes need to be overhauled.

Anyone considering taking a loan from " Chief You Must Be Kidding" deserves the screwing they're going to get! These commercials infuriate me! They do prey on the poor, desolate and outright stupid people! Use your heads people before you accept any monies from these crooks!

Big difference from an indian with a tear crying about pollution to just raping american citizens with this kind of scam. Glad they have sovereign nations to break an american law they can, just scummy people

Or you can be like me. I am a single mom with four kids and I work a good job. I did it myself and no I did not go to school to get the job and no it was not easy getting there and yes I sought out this job. OK? Kids ages are 12, 8, 6, and one month.