If you are wondering if you can get Sky Loans as seen on TV, the answer is essentially yes according to their advertisement. According to Western Sky Financial you can get the money you need in your bank account tomorrow. Yes, you do need a bank account for them to transfer your cash loan into your account. They do a credit check, however, the terms seems to be so relaxed that even those with bad credit can qualify for an instant cash personal loan with Sky Loans as seen on TV.
So What’s the catch you ask? Well, they tell you straight off in the commercial, ‘yes, the money is expensive, but it’s a lot cheaper than a payday loan.’ The first part is absolutely correct, the money IS expensive. You can end up pay back up to $40,000 when it’s all said and done for taking out a $5000 personal loan with Western Sky. To most people this may not be worth it, however, if you need money right away for emergency purposes, being able to get easy cash fast may be more important to you than the possibility of having to pay back 8 times the amount you borrowed.
Second, it is not really cheaper than a payday loan. Technically, it may be cheaper than a payday loan in terms of the amount of interest rate you pay since some payday loans you could be paying back up to 200 percent interest. However, it is not cheaper when you think about the fact that payday loans are short-term loans and the Sky Loans as seen on TV are long term loans. So in essence, it is really not cheaper than a payday loan unless you can pay back the money you borrower quickly. If you plan on borrowing money from Western Sky Financial, you should check to see if you can pay back the loan sooner without pre-payment penalties. In which case, it may be worth borrowing for most people.
Another point you should consider when thinking about borrowing from Western Sky Financial is that they are a Sovereign Nation. Which means that although they are in the United States, they are not governed by US Law. So if you have a dispute with them about your loan, you will have to handle the dispute on their terms in their court. Make sure you read the terms and agreement very carefully before you borrow money from Western Sky or any personal loan lender.
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