Are you needing some immediate money and want to use Instant Cash Online? It’s probably a bad idea.
So many people are getting themselves into financial difficulties through the short-term lending industry. We’re totally against it!
You can use Instant Cash Online to get some instant finance, but be warned! It’s not going to be easy and they make profits from you. Are they dodgy?
We don’t believe so as they appear to be compliant with ASICs responsible lending practices. That doesn’t make them right.
Instant Cash Online
These guys rope you in with bait. Our experience has shown that borrowers want the easy road, so they use interesting advertising.
Have you seen it? It’s the sort of stuff like “5-minute finance applications” and “You can get finance anytime and anywhere”. It’s made payday lending so much easier FOR THEM because now you don’t need to walk into a branch.
The industry thrives on taking advantage of the frail and vulnerable. These people are in dire straits and can’t get by so these lenders want to put them into even more financial arrears. It sucks, but it’s how they legally operate.
Cash with no catches.www.instantcashonline.com.au
Ha! We laughed when we saw that. This is so far from the truth. The catch is that you’re going to be bent over and given extremely high interest rates.
You’ll be having even more troubles than what you’re already experiencing. A real case of short term financial gains (some instant cash in your bank account from an online provider) paired with long term financial pains.
Quite clearly, it’s NOT worth it. You’re setting yourself up for misery.
Where you will fall down
Then they know that you’ll struggle to pay back the loan so they’ll wait for you to miss a repayment. Then bam! Here’s some more penalties for you, poor soul.
Most people who take out these payday loans are already nursing some pre-existing financial difficulties. They are taking money from people who are doing it tough and are in dire straits.
What we have here is the perfect storm for a bankruptcy. Are you ready for it? Because you might fall into this debt-trap with no way to escape.
Predatory payday lenders are profiting from vulnerable Australians to the tune of an estimated $550 million in net profit over the past three years alone.Consumer Action CEO and Alliance spokesperson, Gerard Brody
That’s half a billion dollars in profits. It’s not good at all.
Luckily, they do post a warning about borrowing on their website. It’s a statement that the Australian government requires now under the National Consumer Credit Protection Act.
Their main suggestion and the one we recommend heavily is the National Debt Helpline on 1800 007 007. It’s free and you can talk to a financial counseller.
Instant Cash Online 24/7
Lots of people promise that you can get instant cash online in Australia, at any time you want. Unfortunately these 24/7 lending providers generally only approve loans during the daytime hours.
But even so, people think they can get money fast. It creates the perfect storm for Australia’s debt crisis.
- Find people who are unfortunate and vulnerable
- Make promises like “Instant cash now” to wow them
- Write them a contract where they have to pay 2x more
- Watch them struggle as they can’t keep afloat each month
And around it goes. This is a practice we’d love to see stopped.
We’re proud to see so many other consumer advocacy groups rising up in Australi against this practice too. We’re sick of the loan sharks and we’re sure you are as well, so we’ll push them to the side now.
Let’s look at some other alternatives.
Payday loans aren’t viable
You can’t take out one of these loans to pay back someone else, especially another bank. Instead, you do have more viable options available.
- You can request a payment play or extension with your current debts. This includes your electricity supplier and credit card issuer.
- Centrelink might be able to give you an advanced payment. It’s a case-by-case basis and some people may not qualify.
- Just ask your friends or family for some cash. Most will say no but maybe some will say yes. Even a few hundred dollars to get you by.
- Get yourself additional work. This time of year there are more jobs available on seek.com.au and other job boards.
- Sell your unwanted stuff through a garage sale. Often this is the best alternative to get some instant cash without the hassles.
You’ll be able to sleep easier tonight with these options. Plus – no more black marks showing up on your credit history as would be the case with a payday loan.
Keeping your credit file clean is a top priority. In the future, you might want to get a car loan for a job and this might be restricted if your credit file is tarnished by a bad experience.
The Debt Free Community can help
Are you being hassled with people asking for overdue payments immediately? That’s often the reason why people choose to get a payday loan.
Truth be told that a lot of these borrowers only end up in more financial struggles than when they originally started. It’s a backwards spinning treadmill that sends people into the debt-trap that’s often talked about in Australian media outlets.
Instead, we’d love to help you. We can talk to debt collectors on your behalf so your phone stops ringing. The only way to discover now if we’re a good match is to get in touch.
We’ve provided lots of free information on this website and our discovery call is also free. We’d love to have a chat with you today. There is no obligation to move forward with this.
We always say no to payday lenders. In most cases, you don’t really need a loan today. What you need is a clear way forward and we know the best one.
The MoneySmart website created by ASIC has plenty of tips for those who need some advice. We reference this one often because it works.
Also, check out the National Debt Helpline. They can provide you with some non-bias advice though they can’t talk to debt collectors for you. You still gotta do that yourself which can be hard since these people are nasty.
Why not get us to chat with them for you? Hopefully, we can even get your original debt reduced! There’s only one way to find out… 🙂
If you want to know more, then get in touch with us today. We’d love to hear from you and your stories.