Hydra Fund Loan Review
In this Hydra Fund Loan Review, we want to highlight a payday loan company that you should avoid at all costs. It’s no secret that dealing with payday loan companies is sometimes a bit of a gamble. You need money as soon as possible and you fall into the clutches of these bloodsucking leeches that will take you for every penny you’ve got. Over the years, I have come across a few good payday loan companies that operate with some level of honesty and integrity. Unfortunately, that it rarely the case. So, let’s get this Hydra Fund Loan Review started. So, you can stay away and stay safe.
In this Hydra Fund Loan Review, we discovered that all business is done through their site GetFastPay.com. So, what this means is that there are no actual physical locations. GetFastPay.com by Hydra Fund Loan is a matching service which submits your inquiry to its network of lenders. There is no cost for submitting an inquiry. The fees and rates are quoted directly by the lender which is matched to your profile. Hydra Fund Loan deals primarily in short-term loans, offering anyone between $100-$1000 immediately once they qualify.
Hydra Fund Loan Review: Rates & Fees
One of the things we found while writing this Hydra Fund Loan Review is that the rates and fees you will face greatly vary depending on which state you live in. For example. If you live in the state of Delaware, your max loan amount is $500. While the fee attached to this loan has no limit. Meaning the lender could essentially charge you whatever they want. The same thing goes with the state of South Dakota. In writing this Hydra Fund Loan Review, we found that there are some states that do not have any specific lending statutory provisions pertaining to payday loans. It’s incredibly important you read the fine print and consider every aspect of the deal you are partaking in. But before you do that, consider finding a trusted and reputable payday loan company (good luck with that). Please don’t use Hydra Fund Loan.
Hydra Fund Loan Review: Credibility
Here are some things we uncovered in this Hydra Fund Loan Review that have lead us to believe this is a company you should stay away from. In looking over their profile on the Better Business Bureau, it is littered with nothing but red flags. Numerous negative comments left by consumers. Pages of complaints (which are separate from the comments). A C rating which is soon to drop to an F, I am sure.
We also found a notice from the Better Business Bureau stating the following:
“Now, BBB does not have active contact information for the company or its principals to allow BBB to communicate with the company regarding complaints. Unless there is an active way to contact the company, BBB is unable to pursue a resolution to complaints. However, BBB is still accepting and reporting complaints, including publishing details of those complaints within this Business Review on the company. If active contact information for the company or its principals becomes available to BBB, we will pursue communications and resolutions at that time. Due to the nature of the complaints, BBB recommends filing complaints with their local Attorney General Consumer Protection Section and the Federal Trade Commission, for any assistance they may be available to provide and/or to aid in any investigation their regulatory offices may be able to pursue.”
What do you think it means when a company shuts out the Better Business Bureau and continues to operate? To me, it says they have something to hide. The BBB even goes as far as recommending consumers file complaints with the AGCPS & the FTC.
Hydra Fund Loan Review: Consumer Testimonials
This part of the Hydra Fund Loan Review is probably the most important. This is the part where we give you testimonials to back up our findings and suspicions. Here’s what one consumer had to say about Hydra Fund Loan:
“fraudulent account practices. I originally applied for a payday loan back in 2012. Hydra fund also deposited **** in my account without permission. I called to dispute they initially told me they didn’t have an account for me. Now I am being contacted by creditors. This has been added to my credit. I have another company which I have made a settlement with whom assumed I was also part of hydra fund.”
Another Consumer wrote:
“I took a small loan from this co. I was charged twice for the balance.
I took a small payday loan from this company. in 2013. I paid it through mediation. In 2015, they sent the amount plus high penalties to collections, threatening me with legal action. I paid it again. I cannot reach this company nor do they have a working phone number. They should be ashamed of themselves.”
To be quite honest, I don’t know how they are still in business. With this many complaints, I am sure The FTC has caught wind of it all. What surprises me, even more, is that people are still using them for their payday loan needs. Most of which are unsuspecting individuals in tight spots. They go looking to get the help they need and end up getting screwed over in the end.
In my opinion, nothing good ever comes from these payday loan companies. Just more financial turmoil and stress.
Hydra Fund Loan Review: Conclusion
I highly recommend you stay away from Hydra Fund Loan. I highly recommend you stay away from payday loan companies in general, but if you decide to go to one, please don’t go to this one. Unless you are purposely looking to get ripped off and scammed.
In this Hydra Fund Loan Review, The CFRB Gives this payday loan company a 0-star rating and would like to issue a “warning”. Check Our Resources page for a list of trusted companies like Signature One Financial, which have received 4 stars or better.