Lakota Cash

Out of Business

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Consumer Complaints and Reviews

This company and companies like this need to have an up front disclosure policy that is not hidden and not meant to trick anyone into thinking that they are paying off their loan when they are really not! If the withdrawals from my checking account had at least indicated that they were not Lakota Cash loan payments, I would have probably called a long time ago!

I went on their website to apply for a loan. I received a call from one of their agents and after talking to her, I was told I was approved for $500.00. Then I was told what I needed to get to them in order to process my loan. Over a 3-day period, I was going back and forth from my job to my house getting the information so that I can email it to them. I was told to give them all of this personal information to them only to be denied because they say I did not make the income requirements. I was never told there was one. I had been passed around to 5 different people, and no two people said the same thing. Now every time I call, the manager is not available. I have written them up on the Better Business Bureau website also. They cannot treat people this way.

Exercise caution before doing business with Lakota Cash. We took out a loan. The ladies we spoke with were polite and helpful, and gave us our three choices to pay back the loan. They set up a challenge code in case of fraud. We forgot our code, of course. The problem started when we tried to contact Lakota Cash by phone, email, using their website's Contact Us form, to no avail. This screams of scam, so be very careful. Also, check out the FTC Bureau of Consumer Protection. They actually filed a lawsuit against LC in 2011 for unscrupulous business practices because they were illegally garnishing people's wages.

As of right now, we are still waiting to hear from them, and if we don't hear by the end of the day, we are considering a cease and desist notice to their company, and hashing it out by paying through Money gram. Do not let this company bully you into thinking you are going to have your wages garnished, and if they do it, contact the FTC immediately. I don't mind taking out a loan if needed, and I am aware of the high fees, sure. However, I do mind being taken advantage of.

Do not use this company to borrow money. I borrowed $200 in early January 2012, and after 4 deductions from my bank account of more than $50 each, I owe more with every deduction. They add a $52 service fee each month, and they increase payment amount after a short period. Lakota Cash doesn't have an interest rate; they have a service fee applied each month that prevents payoff. If it was an interest rate, that's about 50% interest each month. Just stay away! !

I took a loan of $500 from Lakota Cash right before Christmas of 2011. I was informed by the agent who I was talking to that this loan would cost me about 157 dollars in order to receive the $500, which I agreed. And then, she asked me a date in the near future when I would like to start making payments. I said on January or before the 15th of 2012. I am watching my online bank statements to make sure that the amount she told me would be taken out. It was and the transaction was called Lakota Cash loan payment. I feel safe and comfortable knowing and seeing that I am not getting ripped off.

So now, I am watching my statements weekly and I am noticing that the same transaction is going on bi-weekly and withdrawing $150.00. I feel good knowing that I am paying back the loan I took, wrong! I received an email from Lakota Cash stating that my current loan is due on February 10th in the amount of $500.00. So of course, I called to clear up the confusion and behold the underhanded ** that they told me! They said that the 157 dollars at first was the principal of the loan and the other payments of 150 dollars was a service fee to extend my fricking loan! I was very upset to find this out and I tried to argue this point but got no where! Now, this 500 dollar loan has costed me close to a 1000 dollars!

This company and companies like this need to have an up front disclosure policy that is not hidden and not meant to trick anyone in thinking that they are paying off their loan when they are really not! If the withdrawals from my checking account had at least indicated that they were not Lakota Cash loan payment, I would have probably called a long time ago!

Once again this is ** and needs to stop! They already make money on every loan that they send out and I figure that would be enough to turn a profit for themselves, but no! They need to screw the average Joe on top of it.

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I took out a loan from this company for $425.00 in June of 2011. Here it is October of 2011 and I just received an email from them saying that I still owe them over $600.00. They are the biggest rip off and I do not think that anyone should use this company. They look for people that are in financial trouble, offer them a loan and charge them a tremendous finance fee. I do not recommend this company to anyone.

On March 30, 2011 I took out a $500.00 cash advance with this company. This was an online transaction. I spoke with someone over the phone and from what they explained to me is that my total amount owed plus fees was be $617.04. It was a male I was speaking with and he also stated that I had the choice of either paying the $500 plus the fee in one lump sum by my following pay period or that I can choose to make monthly payments that would be roughly $150.00 a month that would go towards my balance until it was paid off. The charges they have taken out date are as follows: $165 on 4/15, $150 on 4/29, $150 on 5/13, $150.00 on 5/29, and $175 on 6/10. This is a total of $790.00 and if it had not been for me looking at my account on 6/10, only to find that they were still charging me on a loan that I thought was paid off last month, they would have continued to take money out of my account biweekly.

I spoke with the company and I will admit I was very irate. After a rep hung up on me I called back and they explained to me that because I did not respond to the email, they send right before they charge your checking account monthly. They state that I wanted the full amount of $500.00 taken out, that I automatically agreed to extend the loan and will have to pay an enormous fee each month to keep this loan open and avoid paying a lump sum of $500.00 plus all the money they have taken so far is not towards the principal. Why would I agree to them taking $300.00 a month out of my checking account only to avoid paying $500.00 in full? The person I spoke with is Michael and he basically told me that this is what I get for not reading. And that I still owe the $500. If I stop any payments, they will forward me to their collections department as well as pursue and have my wages garnished. I most definitely will not allow them to take another dime out of my account as I will be closing my checking account today! And if they attempt to garnish my wages I will obtain a lawyer and file a lawsuit! Please help me! This company needs to be investigated. They should not be in business!

At this point my only loss at this time is the $175.00 that was taken out of my checking account on 6/10. This amount put them over the amount they were entitled to which was only a total of $617.04. After this last payment, they now have $790.00 of my money. I also don't understand why they are taking money out of my account on a biweekly basis when I was told it would be on a monthly basis. I just feel this company is a fraud, regardless of what contract I verbally agreed to. This is totally irrational and the economy is way too bad for all of us to have people like this out here ripping other people off and then saying "because you agreed to the contract, we have a right to take everything you have whether you really owe it to us or not." And that is basically what they are telling me. This whole outcome has been very stressful to me and I just want to make sure that they are not able to have my wages garnished. Thank you for reading.

Lakota Cash Company Profile

Company Name:
Lakota Cash