Is red sky loans a native lender?

[Miley Davidson]

I'm a bit confused, who are these Red Sky Loans? Are they not a native lender? Or is the company name Red Sky Payday Loan? I get so confused with the company names of native lenders, I so wish I didn't need to get some fast cash at all! It's the first time I'm dealing with financial problems and it's so very confusing!

 

[Smith Smithers]

No, Red Sky Loans is not a native lender, but a mortgage lending company! It actually has nothing to do with fast cash.
Red Sky Payday Loan is a totally different company though, but I don't know whether to recommend them or not! You'd have to look for Red Sky Payday Loan before deciding anything.

 

[Jonesss]

This name seems to go around: https://dfi.wa.gov/consumer/alerts/redskyloans-advance-fee-scam

redskyloans . com was registered again in 2020, so the 2016 posts above is not correct as of 2024.

The Washington State Department of Financial Institutions (DFI) issued a consumer alert on August 20, 2024, regarding RedSkyLoans, an unlicensed entity allegedly involved in an advance fee scam.

A Washington consumer reported that RedSkyLoans offered a loan to improve their credit. After accepting the offer, the company deposited checks into the consumer's bank account. These checks were later returned due to a closed account. The consumer had already transferred equivalent funds to a Cash App account before realizing the checks were invalid. DFI could not verify these allegations

RedSkyLoans is associated with the website www.redskyloans.com, an address at 8 The Green, Dover, DE 19901, the email [email protected], and the phone number 912-483-9904. The company is neither licensed by DFI nor registered to conduct business in Washington State

This situation appears to be an "advance fee scam," where upfront payments are solicited for services like loan modifications or forgiveness, which is prohibited before full service completion.

DFI advises consumers to verify the licensing of financial service providers via their "Verify a License" feature at www.dfi.wa.gov and to withhold personal information from unlicensed entities. Cash App is licensed by DFI and is not implicated in this scam.