threestickslending.com Reviews

Three Sticks Lending is an online lending platform that offers installment loans. The website claims to provide effortless and convenient loans with a quick decision and same-day funding. It also highlights perks such as a secure online process, no hidden fees, no prepayment penalty, and a VIP rewards program. The site emphasizes that it can help with various expenses, including car repairs, medical bills, and family emergencies.

However, several red flags and concerns should be noted:

1. **Tribal Affiliation**: Three Sticks Lending is associated with the Rosebud Sioux Tribe. While tribal lending is a legal concept, it has been the subject of controversy and legal disputes. Some tribal lenders have been accused of exploiting tribal sovereignty to offer loans with extremely high interest rates that would be illegal under state laws.

2. **High Interest Rates**: Tribal lenders may not be subject to state usury laws, which can lead to extremely high-interest rates. Borrowers should be cautious about the potential for exorbitant interest charges.

3. **Lack of Transparency**: While the website mentions no hidden fees and complete fee disclosure, the actual interest rates and fees are not prominently displayed. Transparency is crucial in lending, and the absence of clear information about costs is concerning.

4. **Data Security**: While the site claims to use cutting-edge security technology, it’s essential to verify the actual security measures in place, especially when dealing with sensitive personal and financial information.

5. **Right to Cancel**: The website mentions a right to cancel the loan without cost or finance charges, but the specific terms and conditions for exercising this right should be carefully reviewed.

6. **Customer Reviews and Reputation**: It’s important to seek out independent customer reviews and assess the overall reputation of Three Sticks Lending. Positive or negative experiences from other borrowers can provide valuable insights.

7. **Regulatory Compliance**: Tribal lending can be a complex legal area, and borrowers should ensure that the lender complies with all relevant laws and regulations, including those related to lending practices and consumer protection.

8. **Alternative Options**: Before considering a loan from Three Sticks Lending or any similar platform, borrowers should explore alternative sources of funding, including traditional banks, credit unions, and reputable online lenders.

In conclusion, while Three Sticks Lending presents itself as a convenient and customer-friendly lending option, potential borrowers should approach with caution. Tribal lending arrangements and the associated legal and financial implications require careful consideration. It’s advisable to thoroughly research the lender, seek independent financial advice, and explore alternative borrowing options before committing to a loan.”

the reasons behind this review :
Tribal Affiliation, High Interest Rates, Lack of Transparency, Data Security, Right to Cancel, Customer Reviews and Reputation, Regulatory Compliance, Alternative Options