Are you someone who’s looking to take out finance with AMX Money? We’re here to warn you that it might not be the right idea.
You might be going into a rigged game where the odds of paying back the debt are stacked against you. Dangerous, silly and unethical are 3 words we could describe the payday money market which is highly profitable all across Australia.
AMX Money makes their profits from their payday lending services to borrowers in rough times. From Toowoomba to Beenleigh, Lismore to Townsville.
The question is: Do you really want to enter into a bad relationship with them where you’re signing on with some really bad terms? We don’t think so.
It seems like AMX Money may have closed down. Their website has been gone for a while. They previously provided payday loans where you could apply online or through their fleet of stores across New South Wales and Queensland.
Borrowers would routinely get in trouble as they couldn’t make the repayments. What would these guys do? Penalize them with additional fees and charges.
That’s like knocking someone when they’re already down. It’s rough, but it’s how they operate.
Let’s have a look at where they operated previously:
Is it any coincidence that AMX Money operates in low socio-economic areas? They are targetting these purposely because they know people are doing it tough there.
The Australian government lets them get away with this because they earn so much in the taxes that these finance companies generate year after year.
The woes of short-term finance
If you’re considering a payday loan, then it’s probably not a good idea.
What you’ll be up for is significantly high interest rates and additional charges.
They pretty well all charge the highest that they legally can. ASIC has focused on this industry for some time to get rid of the cowboys.
Often the problem is actually the borrowers. They are taking out financing to service existing debts. You know like car loans, boat loans and credit cards.
Some people have lost their job and need some quick cash to pay the rent. Others need to repair the car or deal with uncertainties in their life. Either way, it’s not good news.
Short-term finance creates real woes in people’s lives. It puts them into a spiral that they can’t easily escape from. They prey on people who are going through tough times.
How we can help
The Debt Free Community was created because we didn’t see anyone really caring about Australians and their high debts.
- People would be stuck on this constant rat race trying to escape from debt
- They would take out additional loans which aren’t a good idea at all
- Eventually, they just didn’t know who to turn to for advice on this
If you’re being hassled by debt collectors then we can talk to them for you. We know it can be challenging to talk to them and deal with their rudeness.
Often you’re not going to get a good deal anyway. We might be able to negotiate something for you. We only know if we can have a chat with you today.
We wouldn’t recommend AMX Money especially as they have since closed down. Instead, we would recommend that you take action on your sorry state of affairs.
Debt collectors are present across the country and so are payday lending providers.
More importantly, there are everyday people having a rough time with heavy debt burdens. If you need a hand to figure it all out, then get in touch with us today.