Breezy Loans: Welcome To Payday Lending Nightmares

It sounds like we have another dangerous payday lender on our hands, and this time it’s Breezy Loans on the Sunshine Coast. Are they dodgy?

We think claims that they put on their website make them sound friendly and inviting. Today we’re going to reveal the real truth.

You’ve probably come across some slick advertising with things like “Quick finance today” or “You can easily apply online” – That sort of stuff to lure you in.

We don’t think it’s ethical to use Breezy Loans because payday lending can lead to nightmares including debt collectors and missed repayments.

How it works with Breezy Loans

What they’re trying to do is make a fortune off your misfortune. You’re having a tough time and you’re their cash cow.

Data reveals that the payday market is a billion-dollar industry. Check out this media release by Consumer Action.

So many people are going into a debt trap with these guys and it’s no different with Breezy Loans. In fact, it’s perfect for them with little upside for you.

In other words, all the odds are stacked in their favour. Welcome to their profit powerhouse!

Breezy Loans Australia

Do you know what’s interesting? They claim not to be a payday lender to make them appear like the good guys, instead of offering personal loans.

Yet when you look at the hard data as they show on their website, it reveals a startling truth to the matter. Let’s have a look:

The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. This comparison rate is based on a small amount credit contract of $1,000 repaid over 6 months.

Breezy Loans website retrived by The Debt Free Community in March 2020

That sounds just like a payday loan. Nice way to put makeup on a pig.

Or in other words, make it sound like it’s sexy to take out payday lending.

Unfortunately, it’s anything but glamorous apart from the owners of these establishments. They’re making all the money int he world.

Where the nightmare starts

The short-term money market is there to profit from your misery.

Where it starts is when you’re having a tough time financially.

Let’s say you’ve lost your job or maybe you had a bad relationship.

Now you want to get some quick cash to pay your overdue debts.

Unfortunately, it’s bad news for you. You’re going to be going back even faster on the hamster wheel.

Some people also take out such destructive financing to pay for an addiction. If that’s the case, then Lifeline Australia can provide free counselling and support over the phone right now.

Debt is a merry-go-round and downward spiral for many people. It’s a bad place to be in and the best way to combat this is by NOT taking out payday finance.

This is even when people like Breezy Loans claim them to be ‘personal loans’ which they aren’t. They are indeed expensive loans where you’ll be taken along for a ride.

Eventually, you realize that this whole experience has cost you a fortune and it’s made them even richer. Take from the poor and give to the rich, like a Robin Hood story in 2020.

Well done guys. Billion payday industry that continues to milk Australians for millions each month. Then you’ve got the Breezy Loans debt collectors who will start chasing those who didn’t keep up with those expensive rates.

Bad deal for borrowers and great for the big banks.

Alternative options

It’s always best to negotiate with your current lenders if you’re having financial difficulties. They can postpone your current repayments until you’re on top of things.

Another option we often recommend is to sell your unwanted stuff to come up with cash quickly. Things like your electronics or furniture can go on Gumtree.

Can you ask friends or family for a quick few dollars? While it’s a bit embarrassing to go down this route, it’s also a wise idea as you’ll avoid the excessive loan interest charged in the payday lending market.

One thing we can do is talk to debt collectors for you. If you are taking out a payday loan to pay off other debt, then this is a terrible idea.

Maybe you’re scared to talk to debt collectors? We can just talk to them for you and stop them from ringing, after negotiating on better repayment terms.

In summary

We’re totally against payday loans as the damage it does to people’s lives is catastrophic. They’re taking the needy and vulnerable in difficult times.

You can expect bad terms with anyone including Breezy Loans. Even if you did take out one of their more affordable personal loans, you’ll be hit with a 48% annual percentage rate. How is that even affordable?

We recommend that you pass on this and it’s evident with Breezy Loans Reviews that people aren’t impressed. This lender makes a fortune.

Instead, get on top of your existing situation with the recommendations we’ve given here. You’ll be far better off in the long run.

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Spotter Loans: Why Australians Are Getting a Risky Payday Deal

Spotter Payday Loans

If you’re looking for a payday loan with little financial benefits for the borrower, then Spotter Loans is the company for you.

With super high interest rates and penalties for borrowers, if they miss repayments, this is a good lender for those who won’t research things properly.

Yep – it’s true that Spotter Loans charges very high interest rates and it makes it a risky deal for Aussie borrowers. This doesn’t make them dodgy though.

So many of these lenders keep popping up all over Australia. We’re afraid of the significant damage that is being done to people’s lives.

Let’s begin

Spotter Loans

There is a common trait with these loans where ‘responsible lending’ gets pushed to the side in the interests of profit. After all, payday loans are a billion-dollar industry here in Australia.

The thing is though, Spotter Loans are one of the good guys that tries their best. They are committed to lending money to only those borrowers will will actually be able to make those huge repayments.

Spotter Loans

And yes – they are big. You’re looking at 30% interest rates if you get your payday loan with them. Oh – and the penalties, if you miss a payment, are severe.

If you don’t think you can afford a loan, then don’t take one out. Especially don’t take out any type of financing if you need to pay other debts.

Did you know that your creditors have to provide you with payment extensions? They also need to listen to your calls about financial hardship.

Why it’s not good news

We’re anti-payday here at The Debt Free Community. We’ve seen the damage that this industry does to everyday people like yourself doing it tough.

These greedy banks take advantage of people like yourself who are in dire straits. It’s unfair and unethical, but they make millions every week of people lik you.

In fact, here in Australia, the payday industry is worth a billion dollars. That’s crazy!

It’s basically a massive profit-house for them with no real advantages for you.

You’re basically signing a contract that says “bend me over”. You probably knew that though, but why do it? Because you need money fast.

You see the slick advertising “Instant cash today” and things like that. It’s not good but it works, with thousands of people taking out loans like this every single day.

A downward spiral we go

So many people take out these short-term loans for two primary reasons:

  1. To pay back other debts like overdue credit cards or electricity bills
  2. Feed their addiction like gambling or alcohol (Lifeline Australia can help)

You’ll be throwing flames in your attempt to extinguish a house fire. That doesn’t make a whole deal of sense.

Typically it sends people backwards in life and they just can’t escape from the debt trap. You might think you’re on top of things, but it often doesn’t work out.

Instead, consider things you can do instead. Can you sell some of your unused stuff? How about getting another job? That’s much more safer.

How we can help

Are you at the stage where you’re being hassled by debt collectors? Feeling the heat of debt? That’s where we can help you out.

Instead of you being embarased and frustrated when talking to these people, we can do it for you. This way your phone can stop ringing and you can get on with life.

The Debt Free Community was established to stop people from having to deal with these nasty people. Hopefully we can get you a better deal and maybe a discount on the original debt. Maybe.

Will you be successful? The only way to find out is to get your details over to us today. One FREE friendly phone call is all it takes to discover if this will work.

In summary

We routinely warn people away from the dangerous industry of payday lending. Even personal loans can have significant disadvantages.

Instead, you gotta be proactive. Don’t ignore the severity of the situation here. They can come door-knocking with tough guys to collect the money you owe.

You don’t need instant cash. You need someone you can talk to!

Get in touch with us today to see some options available for FREE.

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Loan Zone WA: Here’s a High-Risk Payday Nightmare Scenario

Loan Zone Fremantle WA

The Debt Free Community seeks to educate individuals on the dangers of payday lending from places like Loan Zone WA, based on the high-risk industry.

It sounds so easy with signs like “Instant Cash Today”. You walk in with nothing and walk out with some money. But was it really that easy? Often yes, but your future will be anything but easy.

If you use services like Loan Zone WA, the dangerously high interest rates and penalties for not repaying on time might cause nightmares for you.

You can expect to be sent down a path where you will struggle. Even though they do their best to assess your application, some borrowers just won’t make it.

Let’s look at a key scenario where this can play out.

Loan Zone WA

It’s clear that Loan Zone WA has good customer service which is why their reviews are so high, but some people are unhappy! Not everyone gets approved, fortunately.

We say fortunately because there are those that should not have payday loans at all or even personal loans. They have exhausted all their options already.

Loan Zone WA

You can visit their storefront if you’re ready for a contract where the terms really are in their favour. Where you’ll be able to lose money and they will make money.

Essentially, they are profiting off your misfortune. It’s somewhat of a robbery.

The government in Western Australia still lets them get away with this. Luckily, ASIC is watching the industry very closely and applicants today have to go through more hoops to get approved, otherwise, they risk more issues.

What happened to Shaun

Let’s say for example Shaun. He’s our example for today.

Shaun’s a bit short on cash this month because he’s just not making enough. He’s got the rent due or the electricity is about to be cut off.

Quickly, Shaun turns to the internet: “I need cash fast! Let me do this online”

“Aha! I found someone who can deposit into my account like…right now ๐Ÿ˜ƒ”

Shaun thinks he’s found the holy grail. He doesn’t even need to go anywhere, unlike having to walk into Loan Zone at Fremantle.

Unfortunately, it’s not Shaun who has won here. It’s the payday lender who put out the bait “Instant Cash Today” and this individual has taken it. Well done guys.

What Shaun will experience is:

  • Seriously high interest rates designed to make the lender a big profit
  • Very high penalties if Shaun even misses one repayment on the loan
  • A mark on his credit report which could affect his car loan options
  • More stress that he simply doesn’t need. Just leave the man alone!

But on the day that he took out the loan, he merely skimmed over the Terms and Conditions. You know – the real contract that he just entered into.

If Shaun does pay the back, then it’s good news. He’s going to struggle though.

If he doesn’t pay back the loan, then he can expect debt collectors at the door.

Payday lending woes

This nightmare that Shaun experiences are actually a common story across Australia.

People actually believe that they will be just fine. In fact, they put on a show-and-tell with the payday lender so they can get approved for the finance.

Truth be told that many are already in hot water, otherwise, why would they be going for a payday loan? It’s crazy to think that people are going in this direction.

Often it’s to pay back an already overdue debt like a car loan or credit card. Others use it to pay their bond or to sort out repairs for the car. Often Centrelink can do a payment advance if you ask nicely.

Some people also use these loans to feed addictions. Please call a counseling service if you happen to be experiencing such troubles, whether financial or not.

Alternatives to Loan Zone WA

Now, most people don’t need instant cash today. They can wait a few days.

You could sell some stuff online like via Gumtree. Even a pawn shop is a good option if you want to accept the lower prices that they will inherently offer.

Another good option is to ask friends and family. While it’s a little embarrassing, you’re not going to be dealing with anything dramatic as you would with a debt collection agency hunting you down.

Did you know that you can apply for financial hardship? It’s what a lot of people do in order to get a month-long extension on their debt obligations. This, unfortunately, doesn’t work for overdue rental payments.

Lastly, just get yourself additional work. Recruiting agencies across Australia are looking for people like you right now. Something in the evenings or weekends would be ideal.

The Debt Free Community can help

We’re not here to offer you a payday loan. That’s not us!

Instead, we actually want to help you. Are you doing it tough?

If you are, then get in touch with us. We can stop debt collectors from calling.

We can also potentially get a reduction in the debts that you owe. It’s great!

You’re probably undre a lot of stress already. Bad relationship? Lost work? That’s the sort of stories that we love to listen to. I

If you’ve been declined finance already or fear that these payday lenders will check your credit history, then stop searching. It’s too late.

You’re probably in a situation that’s quite low. You’ve dug yourself a hole and we’d like to help you out of it today.

Next steps

While Loan Zone WA is a good business, we’re not impressed with their profit-making machine. With thousands of loans over the last 2 decades, they would’ve processed millions of dollars worth of loans.

It’s unfair to think that people are being taken advantage of in this way. You know – being in dire straits and then being offered a ‘hand up’ which is actually going to send them further backwards.

Get in touch with us today as we’re 100% against payday lending and our FREE discover call can help you with a better solution.

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Speedy Money Review: Our WARNING About Pay Day Lenders

Speedy Money Review

If you’re looking for quick cash, you’re potentially about to fall into a trap!

There are inherent issues with payday lending that not that many people know about. It’s a high-risk thing for borrowers for more than one reason.

We’re going to review the Speedy Money payday loan service and tell you how RISKY it is to even consider short-term finance online. You’ve been warned!

The Debt Free Community strives to monitor these guys and debt collection agencies so Australians can get back on track with their lives and rebuild from nothing.

Let’s begin.

Speedy Money Review

Speedy Money might give you cash instantly, but is it worth the risk? We don’t believe so.

Because it is risky to take out payday financing. They know that you’re probably going to default on that loan, which is why the penalties are so high.

(Don’t believe us? Go check your paperwork! You’ll be pleasantly surprised!)

So not only that, but you’re up for a pretty hefty interest bill each month. It’s like 30% with Speedy Money, the highest legally available payday finance in Australia.

Now to be fair, there are times when you absolutely need that instant approval and money into your bank account. Got a new job and need a car to get there? Maybe a good idea if the big banks have turned you down.

But in most instances, people aren’t using these guys for the right reasons.

Payday lending issues

You really need to have a good, hard look if this is the right idea for you.

Most people who are applying with Speed Money probably are doing so in order to pay off their credit cards. This is a really bad idea in our opinion.

You’re basically taking the heat off one bank and putting it with another, who actually charges you more. Did you know you can get payment extensions?

Others are doing payday finance to fuel an addiction. Please call Lifeline Australia if this is you, as they are more than willing to help you during these tough times.

Either way, payday lending has big problems and we’re happy to hear that ASIC is also closely monitoring this industry like hawks. Good stuff!

Alternative Speedy Money options

Did you know you could just sell off some old stuff you’re not using? That’s always the best way to raise some instant cash. Just post them on Facebook Marketplace at a cheap price.

Also, consider getting a job that pays better or picking up additional work on weekends or in the evenings. It’s often easier than taking out finance, even if you’re paying more in taxes.

Another thing is that The Debt Free Community is more than happy to help you! Being chased by debt collection agencies? Speedy Money isn’t the solution for you.

Instead, our recommended team can talk to debt collectors on your behalf.

Getting harassing phone calls and text messages? More letters keep arriving saying “Please pay us NOW or else?” – well, it’s time to take action, and it doesn’t have to be you talking to them. ๐Ÿ˜ƒ

Next steps

Payday lenders are out to make a huge profit on people in vulnerable positions.

And when you’re it tough and missing those repayments, they’ll slug you even more. It can quickly add a considerable amount to the principal to the loan.

It’s unfair, but it doesn’t have to be this way. Avoid the payday loan in the first place. That’s always our 1st recommendation.

Our team is ready to talk to the collection agencies on your behalf, while the National Debt Helpline can provide support if you really need it today.

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