Fiat Financial Review

Fiat Financial ReviewIf you are in the states of Illinois and Missouri, you may be able to get a loan from Fiat Financial. They promise that as long as you meet certain conditions, you can have the money put into your account the same day you apply.

So let’s see whether they are a lender that is worth going with, or if there are better choices available for you. The first thing that you’ll want to understand is that the reason they are only in two states is because they are only licensed to do business in those states. This is in contrast to several online lenders that are located offshore, or that are run by Native American Indian tribes. Those two kinds of business skirt federal laws by operating outside the US or within sovereign tribes. When you go by the books and do business within these states, there are certain rules and regulations that must be followed. You can be sure that Fiat Financial is following them, or they would be audited and shut down.

They also have an encrypted application, which is a huge factor when making your decision. Never give your banking information over an insecure page. There are several companies out there that will try to get you to fill out their application when it is not properly encrypted. This is very sensitive data and someone could easily access your information if the page is not securely hosted.

Fiat Financial Review – The Rundown

The big draw to using Fiat financial if you live in Illinois and Missouri is that you wouldn’t have to drive to a physical location to get the cash you need. You will therefore save on gas money, not to mention the time it takes you to travel to a retail location, and the time you spend standing in line to pay back the money on your payday. It can all be done quite effortlessly, and this is one way of making sure that you are getting the loan at the least possible cost in terms of time and money.

Rates and Fees
The rates will be set by the states of Illinois and Missouri, whichever one you live in, and you’ll notice that they are the same as tehy would be if you went to a lender in person and asked them how much they charge. This is a big advantage because they will be forced to put loan limits on how much you can borrow, and they will run an algorithm that determines how much you can lend based on how much you earn. Some online lenders don’t do this and end up loaning you more money than you can pay back on your payday and still live for two weeks, which sucks you into the payday loan cycle, where you have to reloan the money again and again.

Customer Service
You won’t have to worry about being able to contact customers service, either, as they have it set up so that you can call their toll free number during regular business hours and talk to an actual person. That is huge because some lenders only communicate through email, which means you could be waiting for a response which can add stress to an already stressful situation.

CFSA Members
It’s important to note that Fiat Financial is a CFSA member, which means that they are going to follow the best practices of payday lending. This is a way for the payday loan industry to police itself and make sure that their member companies are doing business in the most honest way possible. From a consumer standpoint when you see that a lender is a CFSA member you know that they are making an effort to be transparent and as fair as possible in their lending and disclosure process.

Our Recommendation
This is one lender that you can feel safe with doing business with. They have crossed their t’s and dotted their i’s and it’s pretty much the same experience or better than going in person to a physical lender. If you live in the rural areas of Missouri or Illinois and can’t get to a lender, this is a fantastic way to get a loan without added expense.

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