Pocket Cash: Should You Avoid This Expensive Mistake?

Pocket Cash Payday Lending

We’ve found another payday lender called Pocket Cash whose focus is to make a profit from people in unfortunate situations.

Are you doing it tough right now? Then you should definitely avoid these short-term loans where the people behind them want to make a profit from your misfortune. The paperwork they give you shows you all the shortcomings.

We wouldn’t recommend Pocket Cash as this loan agency is a cash cow with rip-off interest rates and penalties if you default on the original debt.

In fact, we wouldn’t recommend any of these payday lenders. Their deals are heavily weighed in their favour and not yours.

Pocket Cash Australia

You’ve been on their website and it looks good. They make some interesting claims that we can immediately see. Things like:

  • You can do it all online
  • They could get you approved quickly
  • If you have bad credit, then it’s OK

Actually, what they are doing is recommending you to one of their lenders.

Pocket Cash Australia

These lenders take a fortune from you. We’re talking 30% interest here and hefty penalties if you can’t repay the original debt off in time.

You can’t actually get loans through Pocket Cash as they are a marketing company. This is why there is no address details on their website.

Regardless of that, you shouldn’t be taking out a payday loan. It’s risky and dangerous for many people as we’ve hinted at already.

This loan shark behaviour is rampant in Australia because it’s so profitable. In fact, it’s now become a billion-dollar industry with thousands of loans being dished out every single day.

Why we avoid these

We’re focused on helping Australians get out of debt. You might be a long way from that right now, but we wouldn’t recommend payday lending at all.

In fact, of all the financial products in Australia, these are the worst of the bunch. You’re looking at a lot of misery if you decide to take one on.

There is:

  1. Super high interest rates (Sometimes 2x the original debt)
  2. Massive penalties if they have to take you to Court for it
  3. You’ll have a dent on your credit history (That’s not good)

What you have to realize is that they don’t really care about you that much. It’s a revolving door where they want to make a profit from each and every person that comes in.

If you’re willing to, we would avoid these totally. It’s just not worth it.

Good alternatives

Now that we’ve established that payday loans are no good, there are some healthy alternatives you can do instead.

One such option is asking friends and family. Do this on official terms with paperwork so that it’s much more responsible for each party.

You could also start saving some extra money each week. ASIC has some money saving tips on MoneySmart which we really applaud.

Picking up a 2nd job is often a great idea as well. Job recruiting agencies would love to hear from you if you have tangible skills where you’ll get paid weekly.

Lastly, we recommend making a focus towards slowly getting out of debt. Start chipping away today, instead of taking the biat with these profit-making payday centres.

In summary

Use the alternatives we’ve highlighted here. We’re here to help in any way we can. You might want to reach out to us if you’re doing it hard right now.

We’ve also created some resources for you to get through these tough times.

It’s our hope that the Australian payday lending industry can be shut down or heavily audited. It’s putting so many families at risk based on the lure of easy cash.

Upper Class Collections – Why They Are Very Motivated

Upper Class Collections Australia

Are you being hassled by Upper Class Collections? If so, you might be needing some assistance here in resolving this problem.

Why not have a team like ours talk to them on your behalf. That way you can get on with your life.

Australia is in a debt crisis right now. You’ve probably not paid your bills because you’re waiting on money or invoices to be paid. Now the debt collectors are on to you.

Let’s see what will happen if you ignore this.

Upper Class Collections

Upper Class Collections are based in Wanneroo, Western Australia with their aim to recover debts. Often people engage Graham’s team to recover money from business owners and most of these are in Perth.

On the other hand, if you owe someone money who’s using this collection agencies, you shouldn’t ignore the situation. We know it’s tough, but you need to find a way to pay them.

Upper Class Collections Perth

Taking out additional finance through payday lenders isn’t something we recommend at all. Nor do we recommend ignoring your phone calls.

Taking action

Often the best way is to engage with Upper Class Collections directly. Find a solution with them, even if it’s a temporary payment plan.

Otherwise, what you can expect is:

  • Threatening letters of demand
  • Text messages and phone calls
  • They might come and visit you!

The last one is scary. Did you know that they can interupt your family BBQ at home on a Sunday afternoon with tough looking guys? That’s what debt collectors in Australia are legally allowed to do. It’s rough, but that’s how it is.

They aren’t mean, but given the nature of their operations, they do need to be aggressive. The way to make them friendly is to say “Look, I can start paying a little bit today!” – that will stop your phone ringing.

Upper Class Collections scam

Did you get a letter that says “You must contact Upper Class Collections immediately regarding arrears of overdue invoices”? – It’s not a scam.

Upper Class Collections scam

What has happened is that you owe someone money and they are using Upper Class Collections to retrieve it. This is serious stuff that you gotta pay attention to.

One option is to engage us to talk to them directly. We might be able to offer a better deal on the original debt and hopefully stop your phone from ringing.

It can get worse

If you ignore what is happening, then things can get a lot worse for you. These guys are sophisticated debt collectors who know how to get the job done for their clients.

What you could expect is:

  1. Defaults on your credit history (Really bad news for 5 years)
  2. They could take you to Court to recover the money you owe
  3. Could come door-knocking day and night, including Sundays
  4. Might speak with your other suppliers about your practices

It’s not a good place to be in and ignorance certainly isn’t bliss.

We know that the economy is doing it tough. You might be ignoring all of this because you’ve got no money to pay them.

Unfortunately, that isn’t a good excuse in the eyes of the law.

Next steps

You need to do something starting today or else this can have severe consequences in your future.

One option is to speak with them directly and another is to get in touch with us directly.

We’d love to help you through this mess. Chances are that you’ve got other debts overdue or people you owe. Let us talk the heat off you.

The Debt Free Community is here to help during these challenging times.

We’re only one phone call or message away.

Alternatively, get in touch with these guys on (08) 9306 1777 before this escalates into legal action. You can also visit them at 3/939 Wanneroo Rd, Wanneroo WA 6065 if you want to speak with them in person and explain your situation.

MiFinance: Let Them Throw You Some Risky Payday Finance

MiFinance Australia

Let’s look at yet another payday lending provider, this time we’re researching MiFinance based in Browns Plains and Goodna, QLD.

The problem with these quick cash loans is that most people are already struggling. When they take out this type of finance, they only struggle even further.

You can walk into MiFiannce or do a loan application online, but it’s dangerous if you’re already struggling to keep up with your debts and obligations.

We’re very much against payday lending here at The Debt Free Community. Why? Because they do so much harm across Australia to people already doing it tough.

Let’s talk about why that is.


If you’ve got bad credit, then there’s probably a good reason behind that. You’ve already been struggling under the weight of existing financial commitments like your car loan or credit cards.


So many people are now choosing to go online for their loans with companies like MiFinance. Unfortunately, it can be a terrible idea if you’re just getting by.

The Interest Rate for Secured Medium Loans is 48%. Maximum Comparison Rate is 67.41% p.a.

MiFinance website retrived January 2020.

That is crazy expensive! You’ll be helping them make a huge profit this year.

They then make this funny claim:

Our loans have the following simple cost structure: 20% of principal amount (establishment fee) + 4% of principal amount per month. There is NO Interest charged on our loans.

MiFinance website retrived January 2020.

Yeah, right…no interest charged on their loans. πŸ™„ Despite having an interest rate.

On their small loans, there is a Comparison Rate of 138.37% per year. Crazy!

Using MiFinance is a good way to get yourself into serious financial trouble. Luckily, they do follow Australian laws on Responsible Lending Practices. In other words, they will need to audit you first to gauge whether you’ll be able to pay back the original loan.

Payday lending is a joke

If you take out a payday loan, you’re the one making them a huge profit. This is because there are significant upsides for them and very little for you.

They take from you and make a profit off your misery. After all, you’re having a hard time right now which is why you’re looking at some instant cash lenders like MiFinance.

Yep – Australian National TV show is saying the same thing as The Debt Free Community. That is…do not ever get a payday loan.

Unlike other financial products where you can shop around, these guys know that you need emergency money to pay your bills so they almost all charge a high interest rate.

Many people wind up talking to the team at Financial Rights Australia to discuss their options. This is after getting loan after loan thinking they had to do it.

Alternatives to MiFinance

Look – we’re not here to tell you about this other lender because they are all the same.

How they work is find vulnerable people in the community and sell them on the idea of “Instant Cash Today” and other nonsense. They want to profit off your misery.

Then they send the debt collectors. Are you being chased by a debt collection agency representing MiFinance? If so – you’re probably in hot water now.

If you haven’t reached that extreme, you should look at alternatives. It’s clear that payday lending is downright robbery.

These include:

  1. Just not buying that thing you really need.
  2. Selling your unwanted stuff on Gumtree
  3. Getting addition work. Look up recruiting agencies.
  4. Asking friends and family for assistance right now
  5. Negotiating with current creditors for better terms
  6. Requesting us to talk to debt collectors for you

Also, a great one is the National Debt Helpline for free and unbias advice. They can’t talk to debt collectors but can give you some ideas on what to do.

In summary

The advice is pretty straight forward here. Avoid payday loans and the lure of easy applications. You’re being taken along for a ride with anyone including MiFinance.

We’re publishing this on April 1. That’s ironic, isn’t it? You’d be a fool to think that payday lending is a good idea.

We evaluated their Terms and Conditions and offer on their website. Unfortunately, our experience has shown that they provide a shockingly bad deal and the reviews online back up this claim.

You can call them on 1800 825 805 if you’d like to get stuck inside a debt-trap today.

And if you’re being hassled by debt collectors, we could make it stop for you.

Mango Credit: Are They Worth It?

Mango Credit Australia

Some people have asked our opinion of Mango Credit based in North Sydney.

From the onset, it seems like huge interest rates because you’re getting short term loans.

It’s worth researching companies like Mango Credit especially as there are so few customer reviews online. Have they closed shop or disappeared? Perhaps.

Let’s talk about the issues surrounding the payday lending market.

Mango Credit

These guys have a website that seems like it was built in 1997. We’re surprised that Google still allows websites like this to still be online in public.

Mind you, this mortgage broker might be getting all their business from referrals and word of mouth. Strange, as the internet has opened up so many opportunities.

Even yourself…you’ve found us online. But anyway, what you want to know is: are they worth it?

It seems like the ABC has recognized that Mango Credit has crazy high interest rates from their recent publication. Or rather, huge penalty interest rates if you default.

These guys aren’t so much into the payday stuff which is good. They work by doing bridging loans. How is that different?

Mango Credit Australia

Well let’s say you want to buy a new house before you sell your old one. They will organize a loan between them. Others use these services if they have moved from overseas.

Their main game is caveat loans. That means there needs to be some security, either in property or by the way of a business. Property is better for them.

It can be hazardous

Because they advertise 2 key metrics that has us concerned, it can be hazardous for borrowers. These are:

  • You’ll get approved within 2 hours
  • No need for financial or credit check

That is crazy! Don’t’ be shocked at the interest rates that you’ll be offered.

You will, however, need to hand over real estate. It’s the best security there is.

The loans are also short at often less than 12 months. During that time you’ll need to pay the interest. If you do miss a single repayment then you will be hit with some harsh penalties.

Some people are plain-out rejected for loans with these guys too. You really need to have a strong financial base of assets, such as a house paid off.

How we can help

If you’re being chased by debt collectors, then you don’t need to do this alone.

Instead, get us to talk to them for you. The Debt Free Community strives to help thousands of Australians each and every month.

We know that debt collection agencies can be rude, nasty and aggressive. That heat can wear you down, and not only that, but often you’re getting a pretty bad deal.

Instead, we might be able to negotiate for you. Getting in touch with us can help ease these burdens and help you sleep better at night.

After all, the last thing you want is debt collectors coming to your door. Yes – they can here in Australia and it’s something they love to do. Often they catch people by surprise by coming on weekends.

In summary

Mango Credit has so little information online. You don’t know who their directors are, their company story or much about the interest rates on offer.

Compare this to the bulk of Australian lenders who are more transparent. That is – they are actually using the internet to market themselves properly.

It gives a lot more trust with the consumer who then will write about their experience in the form of a review. That said, there are some instances where using someone like Mango Credit can be helpful.

Likewise – you should get in touch with us today.