Cash Train Review: The Worst Decision You’ll Ever Make?

Have you ever made a bad choice like some people who have used Cash Train and are now struggling any further? If so, The Debt Free Community has your back.

We decided to write this review of Cash Train to show you how dangerous the payday loan idea is. Read this entirely if you’re a smart person.

Since this website was built for people like you who are struggling right now. Australia is doing it tough right now with unemployment rates rising.

Getting a cash loan today sounds like a good idea, but could lead to severe ramifications in the future. From financial hardship to bankruptcy.

It could be the worst decision you’ll ever make. Let’s see why…

Cash Train Review

It’s often a terrible mistake to take out a payday loan. Have you asked your friends and family first? Your boss or Centrelink might be able to give you an advanced payment.

Cash Train can lead to a train wreck for most people (figuratively speaking, of course). This is because borrowers often take out finance to pay off existing debts.

There are thousands of people who have used Cash Train with their experience shown on other review websites. Does this mean they are legit? Yes, they are.

Cash Train Review Australia

The problem is that there is a good percentage that weren’t happy with the services. They didn’t quite read the Product Disclosure Statement or Terms of Conditions.

Do you what to know what type of information that contains? The stuff about the penalties that you’ll be charged of you miss even 1 repayment. Or the super high interest rates they’ll charge you regardless of how nice you are as a person.

You could very well be entering a place where you’re making a terrible mistake.

On the other hand, there are times where Cash Train might serve you well. Let’s say your car’s engine blew up and you need emergency money to get it fixed for work. Right – might be a good idea. Then again – friends and family could lend you a few dollars we’re sure.

The risk of payday loans

We’re clearly against payday lending services here at The Debt Free Community. In fact, we’re sick of seeing the advertising on television. Have you seen them too?

With these, you might experience:

  • More financial pressure then you had previously
  • Black marks on your credit history and lowered rating
  • Be contacted by collection agencies if you default on the loan
  • Are likely to be hit up with high interest and monthly fees
  • Undue hardship where you could declare bankruptcy

It’s all bad news, but there is light at the end of the tunnel. You don’t have to do a payday loan but can instead choose to do some better options.

You could:

  1. Sell some unwanted stuff that you own through classified sites
  2. Ask your bank for a repayment holiday (Some do allow this…)
  3. Apply for financial hardship while you’re looking for a new job
  4. Get someone like us to talk to debt collectors for you (winning!)

We do provide a free consultation so we can see if talking to them would be a good idea. You can then rest peacefully as we tell them to stop calling and texting you all day and night.

Cash train interest rate

Do you want to know what Cash Train charges their borrowers for payday finance? It’s actually about 32% interest rate when you look at the fees that they tack on to the loan.

Cash train loan interest rate

Crazy isn’t it? How can they legally get away with this!

The Australian government actually allows these high interest rates so they can make huge profits.

How long does Cash Train take to approve?

You can often get your super expensive payday loan the same day that you apply. They will send the money to your bank account and then you can expect them to make you cough up money each and every month until it’s repaid.

It’s often a bad idea to take out these expensive loans as we repeatedly tell people here at The Debt Free Community. Still, many people don’t listen and get themselves into deep trouble with financial difficulties.

A great alternative

Are you being challenged with too much debt? We’re hearing stories all the time of people just like you doing it tough out there. You’ve just got such limited money to pay the bank, loans and bills that come in.

There is a good alternative and that’s letting us talk to your debt collection agencies on your behalf. This means you don’t need to worry about the stress and frustration that comes with it.

The best part is that the 1st phone call is FREE. We want to see how we can best help you get started towards a less debt-ridden lifestyle.

In summary

Cash Train makes huge profits from people in unfortunate situations. Then if you can’t meet those monthly repayments, they will penalize you further.

Talk about kicking a man when he’s down. We’re standing up for you!

Our #1 recommendation is NOT to take out a payday loan. This for most people is one of the worst decisions that they’ll ever make.

Don’t add fuel to your existing inferno as we would hate you to go bankrupt.

You might also wish to contact the National Debt Helpline on 1800 007 007. Lifeline Australia is also a great service. These are free counselling services.

Unfortunately, they won’t talk to debt collectors. We can! Give us a buzz now.

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