We love to investigate online claims about companies and Whitestar Group recently came to our attention, so we had to write up a review!
Australia is in a debt crisis right now and taking on additional debt is something we recommend you against doing. Often it’s just not worth it.
There are companies in the payday lending market making a huge profit off vulnerable people, whilst there are others genuinely trying to do the right thing.
In order to create this Whitestar group review, we decided to not only research the history of this company but put in a fake application too.
On this page, we’ll share out experiences.
Whitestar Group Review
We’re total advocates here of the debt-free lifestyle on this website. When we come across a company helping out fellow Australians, we want to look closer. Are they the real deal?
We started searching online and find some interesting stats. Look here:
For the uninitiated, Whitestar group have been operating for 20+ years now. That’s enough proof that they are legitimate.
As it turns out, they do a range of services actually. This includes finance (debt consolidation, new home loans etc), accounting, insurance and they also sell investment properties to clients.
Most people just know them by the service offering that they’re interested in, particularly finance. As it turns out, they have quite a few options.
We then checked online reviews about Whitestar Group and were shocked:
How does a company manage a 5-star rating? We know, but actually following through with seriously good processes so clients are looked after.
Ah! Only 4.9 stars here. The only 1-star negative review about Whitestar Group we found was by someone who left absolutely no comments. Did they really use them or were they a competitor?
After doing our own research, we just had to road-test them.
How did we do this? Well, we took two approaches:
- We called up WhiteStar Group and pretended that we were interested in buying an investment property. After a brief introduction, we then decided to hit them with a ton of questions. After all, buying an investment property is an important milestone and you’ll want to be a bit…well…ruthless!
- The next day we called up and again pretended we needed a debt consolidation loan. The story goes that we are employed but owe a debt collector $25k from an old debt and it’s getting too hard. Again, after a brief introduction, we hit them with a lot of questions (21 all up actually).
The experience went well and they bought the story. ?
Validating their knowledge
There were several reasons we decided to do this:
- Are they really that knowledgeable or is it a ‘churn and burn’ operation?
- Would they be willing to answer our questions over the phone right there and then?
- Will we get hassled for weeks if we don’t sign up then and there?
It was important to go through this process so you can see how it actually is.
And you know what? The results are in!
- WhiteStar Group pretty much answered all of our questions over the phone. I think they got a bit overwhelmed but we explained that we were new to this process, so they bought the story.
- Their staff seemed a bit aged. Maybe mid 40’s? We spoke to 3 different people but it’s great that you aren’t talking to some kid from uni like other companies we’ve spoken to in the past.
- When we told them we weren’t interested at the end of the call, they still asked if they could send an info pack. We agreed and they called again the following week for a follow-up. We were cool with this actually as it shows that they genuinely want to help.
So essentially, that was our experience and in both instances, we believed we would have been approved for an investment loan or debt consolidation. It’s great to see this company offering multiple services so you don’t need to shop around.
So few negative reviews?
You might be wondering why there aren’t many negative reviews about WhiteStar Group. This is because this is clearly one of the few companies that actually follow through for their clients.
At the same time, we would do have to highlight some criticism:
- They can’t approve of everyone. Those who have bad experiences generally don’t even qualify with any of these guys due to limited income or other matters which are out of control of WhiteStar and just about all of these companies.
- You’ll need to have your documents sorted. Our experience is that they ask for white a bit. 100 points of ID, mortgage statements, credit card statements, rental ledgers and PAYG statements. It can be quite overwhelming to get this all together but you need to be organized. Luckily there is an online portal for you to upload documents.
- If you’re not based in Melbourne, it might be a bit more challenging. They do serve people Australia-wide but you won’t be able to go into an office to get your approval done, so you’ll need to do it from home. That’s OK for most people (the online portal), though some will find local solutions more suited.
We feel that it’s best to highlight these minimal downsides so that this is an accurate review for our readers. What’s still evident is that WhiteStar Group is one of the best companies out there.
Would we recommend WhiteStar Group? Well, it depends on your goals.
If you’re committed to moving towards a debt-free lifestyle or financial freedom, then this is one company that can help you get there. It’s evident from their hundreds of existing clients that leave very high feedback.
On the other hand, if you’re messing around in your life, then maybe not the right match for you. You’ve gotta be proactive to make some progress here. In other words, these companies won’t spoon-feed you.
Becoming 100% debt-free isn’t easy. This takes a lot of work. Starting with one of these companies is often the 1st step in the process, and for most people, they will benefit immensely.