Western Sky Loans Review

Bills.com's Review

Western Sky Loans is gone. It stopped making loans in 2013, and wound down its business as regulators in one state after another moved against it. If you are still paying on a Western Sky loan or a collector is calling about one, be aware that Western Sky was not licensed to lend in many of the states where it operated. As a result, courts and regulators in several states found that borrowers there could not be held to some or all of what Western Sky charged. Your state banking regulator or attorney general is the place to find out where your own loan stands.

About Western Sky Loans

The kind of high-interest lending Western Sky did has not disappeared. It still turns up online, usually promising fast cash and no credit check, and often claiming that state lending laws do not apply. Rates for such loans run into the triple digits, which can make them financially destructive and hard to climb out of.

So look at any other options you can first. Your own bank or credit union is the place to start, and federal credit unions offer small payday alternative loans built to meet an urgent need for cash. If you shop for a loan online, confirm that the lender is licensed in your state before you hand over any personal or bank information, because falling prey to an unlicensed lender is the unfortunate situation many of Western Sky's borrowers fell into.