What the Western Sky Financial Problem Solver Loan TV commercial is about.

Western Sky Financial, a payday loan company, gained notoriety for its controversial ads featuring a Native American man riding a horse, urging people to apply for a Problem Solver Loan. Western Sky advertised loans of up to $10,000, boasting that it could deposit money directly into your bank account within 24 hours, even if you had bad credit.

However, the interest rates for these loans were exceptionally high, ranging from 89% to 342%. This means that a $5,000 loan with a 116% interest rate would end up costing the borrower $40,872.72 over the course of five years. These exorbitant rates drew the ire of consumer advocacy groups and regulators, who accused Western Sky Financial of predatory lending practices.

As a result of the regulatory crackdown, Western Sky Financial ceased operations in 2013, but the Problem Solver Loan ads remain a striking reminder of the dangers of payday loans. Despite the allure of quick cash, borrowers who take out such loans often find themselves trapped in a cycle of debt, unable to repay the loan and subject to relentless debt collection tactics.

In conclusion, the Western Sky Financial Problem Solver Loan TV spot was a notorious example of predatory lending in the payday loan industry. Though the ad promised quick cash, the high interest rates associated with the loans often left borrowers in worse financial shape than before.

Western Sky Financial Problem Solver Loan TV commercial produced for Western Sky Financial was first shown on television on December 2, 2012.