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19 members have voted
Western Sky got busted by the State. They are no longer operating. But there are still Indian Reservation lenders. It not the tribe, usually, it's an outside company who comes onto the tribe's land and sets up an office. For example, I just got a solicitation from the Lac Vieux Desert Band of Lake Superior Chippewa Indians in Watersmeet, MI. They also have a casino up there in the Upper Peninsula. The loan was for $1,500, and I believe the repayment schedule they outlined was a $20,000 total payback. Totally criminal.Quote: Kentry
About Payday Loans, a commercial for Western Sky claimed that they could get you $5,000 in your checking account the next day, and admitted the money was expensive(the APR is roughly 131% :O, but claimed it was cheaper than a Payday Loan.) A $5,000 loan equals to roughly $40,000. Oh my God. :O. The Payday Loan place near me is only $30 more than than the loan amount, how is that worse than paying $35,000 more than the loan amount? By the way, Western Sky has changed its name twice since airing the commercial that aired just a few years ago. What a huge red flag.
They have been around for many years. I doubt they would all of a sudden start to care. Especially since the ftc now has warnings all over the place.
Crooks will be crooks.
In some jurisdictions it's always open season, if done quietly.
Code for I would've been care free, living in Vegas and partying with strippers.Quote: GWAE
I have no regrets. If not for the failing business I would have not met my wife and not had 2 great"ish" kids.
Code for I would've been care free, living in Vegas and partying with strippers.
Can't confirm nor deny if that would have been the plan. I can say that I hope that is my dream tonight instead of being chased by the mob.