Loan Ranger Review: Our WARNING Against Payday Lending

There are dangers with Payday lending that so many Australians are unaware of!

While it looks great on the surface with the ability to have instant cash today, you’ll be far worse off in the long run. Many people struggle with short-term finance and we’re here to tell you why.

We’ll closely examine Loan Ranger in our review of this payday lending provider, showing you why it’s RISKY for Australians to get involved with any lender.

The Debt Free Community genuinely wants to help people doing it tough. If that’s you, please get in touch if you’re being swallowed by debts and overdue bills.

Loan Ranger Review

It sounds so tempting to fill out your details and get yourself in the hands of some money fast. Perhaps an unexpected emergency came up or you just have some overdue bills.

Loan Ranger is one of the dozens of Australian payday lending services dishing up these extremely profitable loans. We say profitable because they make a lot of money with these loans from people who are vulnerable and typically during times of crisis.

Loan Ranger Review Australia Debts

It’s unfortunate, and if you’re struggling right now then a call to the National Debt Helpline is a good idea.

When you think of loan shark, then payday loans is exactly that.

  • They’re high interest (30%) with little negotiation power for the borrower.
  • Lenders love to load on big penalties if you miss repayments (you will…)
  • Tarnished credit ratings are typical of borrowers who go down this path

But why are we so against these? Because people are taking out short-term finance for mostly the wrong reasons. There are times, of course, where we need money quick.

Need to fix the car for work? Probably a good idea. Your cat is sick? Another good reason.

So that’s where Loan Ranger could be worthwhile if you can stomach the excessive fees involved. Some people may benefit from getting finance through other lenders, including raising their credit card limits if possible.

Payday loan alternatives

Often you’re just needing some quick money to tie you over until your next payment from the boss. We recommend just selling some unused stuff on Gumtree or eBay to get yourself started.

Even using a pawn shop could be a good idea if their interest rates are more affordable. You will have to repay them much faster though, otherwise, they will sell the item which they have on security.

Are you struggling with debt collectors? Using Loan Ranger is probably a terrible idea to pay these collection agencies. Instead, we recommend you get in touch with us.

We love talking to debt collectors on behalf of clients to organize a friendly resolution between both parties. That way you can get on with your life.

Common Loan Ranger Criticisms

The biggest problem we have with payday loans with Loan Ranger isn’t them, but the borrowers themselves. In most cases, they are making the wrong decision.

Because most of them are struggling with the weight of other debts. You know, like car loans and credit cards. They are all maxed out and now Loan Ranger looks attractive.

Paying debts with money accumulated from another debt is sending people down a spiral. Bankruptcy is a common outcome with lasts for many years (forget buying a house etc).

Next, we have addictions. People borrow money to feed an addiction. If that’s you, then please call Lifeline Australia who can help with free counselling.

Next steps

If you’re looking at payday loans to solve your complex financial problems, then it’s not a wise idea. We would recommend that you get in touch if you need help.

There are times however when you do need the money, and Loan Ranger can be helpful. Do your best to pay back the loan ASAP and don’t miss repayments.

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