Review of Western Sky Emergency Cash Loans
1) Good Source of Emergency Cash
Western Sky seems to have its problems but it seems to be a viable source of emergency cash if you want to look past the cons.
2) No Credit Check
On the commercial, it says, there is no credit check. Although, on the website is says "subject to credit approval."
3) Sizeable Emergency Cash Loan Amounts
The amounts of the emergency loans are substantial enough to help with many debt.
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1) Interest Rates Approach Loan shark levels
The Interest rates are astronomical. Although they tell you that they are a lot cheaper than a payday loan, that's not necessarily true. A $5000 emergency cash loan from Western Sky Financial will cost you $40,000 after you are done paying the installments. The $2500 loan will cost you close to $14,000 as of January 2012. You can get a fixed interest payday loan also called a ten dollar payday loan for much less. So their claim is not necessarily true.
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2) Indian Nation is sovereign: Legal Recourse Unknown
Western Sky is owned by an individual who is apart of the Cheyenne Sioux Reservation-a sovereign nation. They plainly tell you that their loans are governed by THEIR laws. If you don't know anything about Cheyenne Sioux Reservation laws-stay clear! You don't want to take out an emergency cash loan with any company until you have thoroughly done your research and this research includes how they handle customer complaints and what happens if either party defaults on their obligations. You really don't know what the repercussions for defaulting on an emergency loan is, especially since they are not governed by U.S. consumer laws.
3) Rude and Unpleasant Customer Service Representatives
Some borrowers who have applied to Western Sky as a source of emergency cash say that their customer service representatives are rude, unpleasant and rather pushy. I have not seen anything yet that says the opposite. When I find something from someone who has borrowed money from Western Sky who has a different impression of their Customer Service Representatives, I'll post it.
4) Company May Be Associated With Cashcall
California based company Cashcall has received a number of complaints regarding their emergency cash loans to consumers and also their mortgage loans. It is believed that Western Sky is associated with this company. Cash Call was sued by the California Attorney General for "loan shark" like practices and misleading advertisement. They paid $1 Million in damages to consumers.
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OVERALL IMPRESSION OF WESTERN SKY EMERGENCY LOANS
Western Sky Financial is company that operates within the Cheyenne River Sioux Reservation. It is considered a sovereign nation even though it is located in the United States, which means they are governed by different laws. Although Western Sky claims that they can give you $2000, 2500 up to $5000 instant emergency cash in your bank account within 24 hours, you have to take into consideration that is is a sovereign nation and the interest rates on these loans top 100 percent. You should never borrow from a company that is not located in the United States (even though TECHNICALLY it is located in the U.S.A but it is a sovereign nation). This may be confusing to some people but just pretend they are located in a different country. Your emergency loan is subject to their laws, so if you default on the loan or if something goes wrong with the loans, there is little that someone in the United States can do to help you. You should look for sources of emergency cash with companies that are governed under U.S. law.