Finance Brokers

Stressless Money appears to have stopped lending and for good reason – what they were offering was not good value for borrowers.

If you’re looking for more stress in your life, then payday lending is a great idea. But really – who wants more stress?

Let’s detail 4 reasons why Stressless Money is no good for payday loans with their borrowers experiencing more stress in their lives. Are they dodgy?

We don’t believe so, but they have closed shop for now. Wonder what’s happening!

Because we know that you’re struggling and trying to get a grip on things. Life is tough and the economy isn’t doing well, but there is some light at the end of the tunnel.

Let’s begin

Stressless Money Australia

You’re looking for some instant cash, right? That’s not a good idea.

We know that you’re in a bit of strife. Overdue bills and you’re maybe out of work.

While you’re going to top up your depleted bank account, you’re going to experiencing some challenges in your future. Stressless Money should be avoided, as should every other payday lender in the country.

Here are the 4 reasons:

1. The interest rates are high

Fancy 30% interest rates? Neither do we. Because these are unsecured payday and personal loans offered to everyday Australians, you might pay up to 30% interest.

Guess what? It’s totally legal. In fact, it’s a very profitable industry too.

2. Excessive penalties

Let’s say you have a rough month and you can’t pay them for that month. They’re going to slap you hard with big penalties if you don’t return their money.

What’s worse is that Stressless Money will then call upon their debt collection agency to chase you. How’s that for being stressful?

3. Black marks on your credit history

You want to aim to keep your credit report as clean as possible. If you want to buy a new car in the future for work, then any payday loans aren’t seen favourably.

Not only that, but if you miss repayments at any time then these will also show up. Even if you do qualify for a car loan, then expect super high interest rates again.

4. The debt black hole

What is the debt black hole? It’s where you borrow money to pay back other money that you’ve borrowed. Around and around it goes.

We’re completely against the practice here at The Debt Free Community, but thousands of Australians do it every single week. Guess what? Payday lenders like this will keep lending until you’re completely broke.

In summary

Don’t for a minute believe that this process will have little to no stress. The name is quite deceiving as most people become more stressed when taking on more debt.

Go and get another job or talk to the NDS. Just find an alternative way to get some quick cash. Even selling some of your unused stuff is a great idea.

Better yet – let us look at your situation for FREE. We can even talk to debt collectors so your phone doesn’t ring ever again. How’s that for reducing your stress!

Get in touch with us as we’d love to have a chat.

Are you someone who’s looking to take out finance with AMX Money? We’re here to warn you that it might not be the right idea.

You might be going into a rigged game where the odds of paying back the debt are stacked against you. Dangerous, silly and unethical are 3 words we could describe the payday money market which is highly profitable all across Australia.

AMX Money makes their profits from their payday lending services to borrowers in rough times. From Toowoomba to Beenleigh, Lismore to Townsville.

The question is: Do you really want to enter into a bad relationship with them where you’re signing on with some really bad terms? We don’t think so.

AMX Money

It seems like AMX Money may have closed down. Their website has been gone for a while. They previously provided payday loans where you could apply online or through their fleet of stores across New South Wales and Queensland.

Borrowers would routinely get in trouble as they couldn’t make the repayments. What would these guys do? Penalize them with additional fees and charges.

That’s like knocking someone when they’re already down. It’s rough, but it’s how they operate.

Let’s have a look at where they operated previously:

Toowoomba	Stones Corner	Beenleigh	Lismore	Coolangatta
Darwin	Mayfield	Warrawong	Ipswich	Caboolture
Woodridge	Cairns	St Marys	Mackay	Burleigh Heads
Bundaberg	Southport	Coffs Harbour	Liverpool	Logan

Is it any coincidence that AMX Money operates in low socio-economic areas? They are targetting these purposely because they know people are doing it tough there.

The Australian government lets them get away with this because they earn so much in the taxes that these finance companies generate year after year.

The woes of short-term finance

If you’re considering a payday loan, then it’s probably not a good idea.

What you’ll be up for is significantly high interest rates and additional charges.

They pretty well all charge the highest that they legally can. ASIC has focused on this industry for some time to get rid of the cowboys.

Often the problem is actually the borrowers. They are taking out financing to service existing debts. You know like car loans, boat loans and credit cards.

Some people have lost their job and need some quick cash to pay the rent. Others need to repair the car or deal with uncertainties in their life. Either way, it’s not good news.

Short-term finance creates real woes in people’s lives. It puts them into a spiral that they can’t easily escape from. They prey on people who are going through tough times.

How we can help

The Debt Free Community was created because we didn’t see anyone really caring about Australians and their high debts.

• People would be stuck on this constant rat race trying to escape from debt
• They would take out additional loans which aren’t a good idea at all
• Eventually, they just didn’t know who to turn to for advice on this

If you’re being hassled by debt collectors then we can talk to them for you. We know it can be challenging to talk to them and deal with their rudeness.

Often you’re not going to get a good deal anyway. We might be able to negotiate something for you. We only know if we can have a chat with you today.

In closing

We wouldn’t recommend AMX Money especially as they have since closed down. Instead, we would recommend that you take action on your sorry state of affairs.

Debt collectors are present across the country and so are payday lending providers.

More importantly, there are everyday people having a rough time with heavy debt burdens. If you need a hand to figure it all out, then get in touch with us today.

Spondooli with their funny name is on a mission to make a fortune from Australia’s desperate and vulnerable borrowers. We’re going to take you on a journey as to why that is.

The country is in severe debt and we’re looking at a looming recession. Unfortunately, it means that people are more willing to make risky decisions that will negatively affect their future.

Spondooli payday loans are risky, despite claiming to be not doing credit checks. Borrowers often don’t see the sky-high fees and penalties.

Let’s see why that is in this guide.

Spondooli Australia

You’re probably having a tough time right now. The rent is due or bills are overdue. Now you’re scrambling to make some dough.

These guys like to lure in with their bait: “Instant cash deposited today into your account” and other such claims. And look, it’s true. They can often give you some cash today, but there’s a catch.

The catch is…it’s going to negatively impact your future. You’re going to be up for an experience that will leave you bitter if you knew the real truth.

Many borrowers are in such a rush to get the finance that they don’t read the fine print. It’s right there in black and white.

Let’s take Spondooli’s own website for instance. They explicitly say this:

A comparison rate of 65.6597% p.a. applies to loans between $2,001 and $5,000. This comparison rate is based on an amount of $2,500 over 2 years and a $400 establishment fee.

Retrived from the Spondooli website in March 2020

Now that’s crazy! YOUR INTEREST RATE IS 65% ? (Who would do that?!)

You’re basically signing yourself up for daylight robbery in your quest to get some instant money to pay those bills. It’s scary.

What is really happening? They are profiting off your misery. ?

You’re doing it tough and they know you need the cash, so they hike up the rates because they think you’re not going to be able to pay them back.

Even if you struggle to pay them back and miss a repayment, you’re up for additional fees. Talk about knocking someone when they’re down.

It’s a debt trap: Don’t do it

Yep – you read right. You’re about to walk into a debt trap that’s hard to escape from.

We’re massively against payday lending here at The Debt Free Community. It’s not our cup of tea and the lenders hate us! They hate that we publish content like this.

Let’s look at this story:

Don’t go down this path as it’s often disastrous for your future.

Some consequences include:

• They might mark your credit report which could impact car loan finance potential in the future
• You’re going to be stuck with super high interest rates designed to make them a big fortune
• If you do miss a repayment, expect to cough up even more money from them

You might even get debt collectors representing Spondooli harassing you for repayments and potential Court action. And remember, this all started from you just landing on their smooth-looking website where you could click some buttons and apply for a loan online.

Is it worth it? No.

You’re so much better than this.

Alternatives to Spondooli

Guess what? There are no payday lenders who are any better than Spondooli. They’re all out there waiting for you to take the lure so they can rope you in for their gain.

Instead, we recommend you do things which are sustainable.

These might include:

1. Merely asking some friends and family for a quick loan
2. Selling things that you no longer use like electronics or jewellery
3. Getting additional work. Job recruiters are everywhere in Australia
4. Using platforms like Uber or Airtasker for some easy weekend gigs
5. Asking Centrelink for a pay advance (They can sometimes do this)
6. Talking to your existing creditors for payment extensions
7. Asking us to talk to debt collectors for you (How cool is that?)

You too can join the ranks of people who are avoiding these money-hungry payday lenders and those who are keen to live a debt-free lifestyle. At least, not right now but you’ll be starting the journey.

When it’s too expensive

It’s clear that it is way too expensive to take out payday lending from anyone. Even personal loans are expensive around the 20% mark.

You might be doing it tough with credit cards and personal loans. Are you overwhelmed with all your responsibilities? Can you see the struggles?

If so – you might want to talk to us. We’re happy to listen to your stories about why you’re struggling and hopefully we can stop those pesky debt collectors from calling you all day and night.

Payday loans aren’t the solution because reducing your debt is. This is why we created this website to help individuals like you in challenging times.

Next steps

Australians continue to get a rotten deal with payday lenders every single day. They simply don’t understand the risks involved and the consequences for their future.

We want to get you on the right road, not the wrong one. We’d love to hear from you in regards on how we can work together and sort out these issues.

Book yourself with a FREE discovery call, because we know that 40% interest rates are not valuable. What is valuable is helping others and that’s what we’re about.

Another day and another payday lender charging borrowers insanely high interest rates and this time it’s SpotMeNow payday loans in Sydney. Are they dodgy?

We think they’re quite legitimate but they don’t offer attractive terms and conditions. Our experience in this industry shows that borrowers routinely get in trouble.

If you’re looking for a bad decision to make this week, it’s taking out a payday loan. You’re signing a contract where the odds are massively stacked against you. The house wins every time, I’m afraid.

SpotMeNow is a company who is focused on making a profit from you, as is any business really.

Let’s take a look at the problems here.

SpotMeNow Loans

It sounds so easy when you see marketing signs that say “Instant cash now” or “No credit checks”. You’re in a tough spot and this is exactly what you think you need.

Truth is, you don’t need any of this. You just want it because it’s easy.

They lure you in hoping you’ll take the bait. Once they’ve got you signed up to the contract which you never really read properly, then that’s it! They’ve won!

We’re talking 30% interest on their payday loans here. Not only that but excessive interest if you default on any monthly repayment. Guess what? Many people who do take out these payday loans actually struggle to repay them.

SpotMeLoans is one of the good guys with a solid customer service team who takes the time to read applications properly. They just can’t be perfectly accurate but they do their best.

The downward spiral of payday loans

The issue often is the borrowers. Some of them lie on their applications because other banks have rejected them.

Most of them don’t realize the downward spiral that they’re heading down with these payday loans. They take out debt to pay back other debt, like a constant merry-go-round.

It’s disheartening to hear sad stories. The Debt Free Community was created to stop people from making irrational decisions and to also help them in times of need.

We feel that payday loans are 1 step forward and 2 steps backwards. That’s no way to make decent progress in your life, even if you think you’ll make the repayments.

Other people take out such loans to feed addictions. Please call Lifeline Australia if this is you as they are more than happy to help with free counselling services.

Interest rates can be a killer

As we’ve already said, the interest rates on offer can be a killer. We’re looking at 30% here which is legally the highest they can charge.

Why do they charge so much? Because they believe you’ll default on the loan. Others have and so it’s risky for them to lend out this money without the security of a house or car to go by.

Did you know that you can get a discount on your current credit card interest rates? It’s something we pride ourselves on helping people obtain. Not only that but this applies to car loans and personal loans too.

Maybe you’ll want to get in touch with us. We can also stop debt collectors from calling you because we know how crazy that can be. Any fears you had about them knocking on your front door can be eliminated.

In summary

SpotMe Now cash loans offer quick financing but at excessively high rates. The borrower (you) gets stuck with a bad deal.

Instead, you should focus on what you can do without payday lending. Can you sell some of your unused stuff or get a loan from a friend? This is almost always a better deal for you, despite you having to swallow your pride a little.

Taking out loans to pay other loans or make debt collectors go away is a terrible idea. Why not just use us to make them stop calling you? The Debt Free Community is here to help.

Get in touch with us right now and let’s see if we can help you.