Red Sky Loans: Legitimate Or Scam?

RedSkyLoans is a lending company that offers fast approval of loans of up to $10,000. However, the company has been associated with scam allegations, with the Washington State Department of Financial Institutions (DFI) issuing a consumer alert regarding RedSkyLoans. The company is not licensed by the DFI and is not registered to conduct business in Washington State. There have been reports of RedSkyLoans engaging in an Advance Fee Scam, where upfront payments are solicited for loan modifications or forgiveness, which is prohibited. While some reviews praise the company for its quick approval and excellent customer service, others have reported negative experiences, indicating possible scam activity.

RedSkyLoans is an alleged Advance Fee Scam

RedSkyLoans is not licensed by the DFI and is not registered to conduct business in Washington State by the Department of Licensing, the Department of Revenue, or the Secretary of State. Cash App, on the other hand, is licensed by the DFI and does not appear to be involved with RedSkyLoans.

The DFI warns consumers that when considering doing business with a financial service provider, they should always verify that the entity is licensed. Consumers can use the "Verify a License" feature on the DFI's website to check whether a payday or consumer loan company is licensed to conduct business in Washington State. It is also important to never provide personal information, such as a social security number or bank account number, to an unlicensed or unauthorized company.

Reviews of redskyloans.com are mixed, with some customers reporting positive experiences and others complaining about the company. ScamAdviser has rated the website as medium to low risk, but notes that the registrar has a high percentage of spammers and fraud sites, and that the website has a low trust score. It is always important to do your own research and be cautious when providing personal information or funds to any company, especially one with mixed reviews and trust scores.

RedSkyLoans is not licensed by the DFI

RedSkyLoans is an online lending company that offers quick approval and excellent customer service, according to some reviews. However, it is important to note that RedSkyLoans is not licensed by the Washington State Department of Financial Institutions (DFI) and is not registered to conduct business in Washington State. The DFI has received complaints about RedSkyLoans, suggesting that the company may be engaged in an "Advance Fee Scam", where upfront payments are solicited for loan modifications or forgiveness. This practice is prohibited, as companies are not allowed to collect fees before fully and completely performing the agreed-upon services.

The DFI warns consumers to be cautious when considering doing business with a financial service provider and to always verify the entity's license. Consumers can use the "Verify a License" feature on the DFI's website to check if a company is licensed to operate in Washington State. It is important to never provide personal information, such as social security or bank account details, to unlicensed or unauthorized companies.

RedSkyLoans has been associated with an address in Dover, Delaware, an email address, and a phone number. However, the company does not appear to be physically located in Washington State. The DFI advises consumers to be vigilant and encourages them to report any suspected unlicensed activity by contacting the Department directly or through their website.

While some reviews of RedSkyLoans are positive, there are also negative reviews and complaints from customers. The Better Business Bureau (BBB) does not have sufficient information to rate the business, and it is not BBB-accredited. Scamadviser, a scam-detection website, rates RedSkyLoans as medium to low risk but notes that the website has a high percentage of spammers and fraud sites.

In summary, while RedSkyLoans may offer quick and convenient loans, consumers should exercise caution and ensure they are dealing with a licensed and reputable company. It is always important to do your own research and verify the legitimacy of any financial service provider before providing personal or financial information.

RedSkyLoans is not BBB accredited

RedSkyLoans has been flagged by the Washington State Department of Financial Institutions (DFI) as an unlicensed entity. The DFI has received complaints about RedSkyLoans offering loan services and depositing checks into consumers' accounts, which were later returned due to the account being closed. This practice, known as an "advance fee scam," involves soliciting upfront payments for loan modifications or forgiveness, which is prohibited before the full completion of services.

RedSkyLoans is associated with the website www.redskyloans.com and has an address in Dover, Delaware. While the website has an SSL certificate, which is used to encrypt communication, this does not guarantee its legitimacy. Scamadviser, a website that helps identify online scams, has flagged redskyloans.com as medium to low risk, but notes that the site has a high percentage of spammers and fraudsters. The reviews for the website are also very mixed, with extremely positive and negative reviews, which could indicate the possibility of fake reviews.

To protect yourself from potential scams, it is recommended to verify the licensing of financial service providers and never provide personal information, such as bank account details, to unlicensed entities.

RedSkyLoans has mixed reviews

On the one hand, several reviews praise RedSkyLoans for its quick approval process, great communication, and excellent customer service. One review specifically mentions that the company made the loan process quick and easy, and that they received their funds promptly. These positive reviews suggest that RedSkyLoans may be a legitimate and reliable lending company.

On the other hand, there have been several reports and complaints suggesting that RedSkyLoans may be engaged in an "Advance Fee Scam". The Washington State Department of Financial Institutions (DFI) has received complaints about RedSkyLoans soliciting upfront payments for loan modifications or forgiveness, which is prohibited. In one case, a consumer reported that RedSkyLoans deposited checks into their bank account, which were later returned due to a closed account. The consumer had already transferred the equivalent funds to a Cash App account before realizing the checks were invalid, resulting in a financial loss.

It is important to note that RedSkyLoans is not licensed by the DFI and is not registered to conduct business in Washington State. The company has also been associated with a high-risk domain registration company that attracts websites with low trust scores. While ScamAdviser rates redskyloans.com as medium to low risk, they acknowledge the possibility of a scam and advise users to manually check the website's legitimacy. The reviews on ScamAdviser are polarized, with extremely positive and negative reviews, which could be another indication of potential scam activity.

Overall, while there are some positive testimonials, the negative reports and complaints about RedSkyLoans are concerning. It is always important to exercise caution and conduct thorough research before engaging with any financial service provider, especially when there are allegations of unlicensed activity and potential scams.

RedSkyLoans offers fast approval of up to $10,000

RedSkyLoans is a lending company that offers fast approval of loans up to $10,000. While some customers have reported positive experiences with quick approval, excellent communication, and great customer service, there are also reports of RedSkyLoans being an "Advance Fee Scam".

The Washington State Department of Financial Institutions (DFI) has received complaints about RedSkyLoans, alleging that they require upfront payment or an advance fee to obtain a loan modification or forgiveness. This practice is prohibited, as companies are not allowed to collect fees before fully and completely performing the agreed-upon services. DFI warns consumers to verify the licensing of financial service providers and refrain from providing personal information to unlicensed entities.

RedSkyLoans is not licensed by the DFI and is not registered to conduct business in Washington State. The company has been associated with an address in Dover, Delaware, an email address, and a phone number. However, the DFI could not verify all the facts reported by the consumers.

Scamadviser, a website that helps identify online scams, has rated redskyloans.com as medium to low risk. They note that the website's domain registration company attracts a high percentage of spammers and fraud sites, which has lowered its trust score. Scamadviser recommends that users manually check the website and reviews to determine its legitimacy.

It is important for consumers to exercise caution and conduct their own research before engaging with any financial service provider, especially if there are concerns about potential scams or unlicensed activity.

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