LoanAtLast installment loans review

What is LoanAtLast?

LoanAtLast is a short-term tribal lender owned by the Lac Du Flambeau Band of Chippewa Indians. It offers installment loans of $200 to $1,000 with terms up to 0.75 years. While LoanAtLast doesn’t advertise an exact range of interest rates, you can expect a high APR. However, LoanAtLast does its best to keep borrows informed. It’s a member of the Online Lender’s Alliance and follows a list of best practices.
As a sovereign tribal lender, LoanAtLast doesn’t have to abide by federal and state laws regarding short-term loans. This means there’s no cap on how much it can charge in interest and fees — which means you could end up paying double or even triple your loan amount in fees. However, since LoanAtLast doesn’t charge a prepayment penalty, you can save on interest by paying off your loan early.

Must read: Not available in all states

LoanAtLast doesn’t offer installment loans to residents of Arkansas, New York, Pennsylvania, Vermont, Virginia, West Virginia, Wisconsin or Washington, DC. If you live in one of these states, consider another lender.

What are the benefits of an installment loan from LoanAtLast?

Borrowing from this tribal lender comes with a few benefits, including:

• Option to cancel your loan. Have second thoughts? You can cancel your loan up to one business day after receiving your funds — as long as it’s done by 4 p.m. CT.
• Member of the Online Lender’s Alliance (OLA). This means LoanAtLast follows a list of best practices to ensure you’re given a fair and transparent lending experience.
• Online chat available. Unlike some lenders that only give you a single contact email, LoanAtLast goes a step further and offers an online chat feature.
• Available in 43 states. LoanAtLast lenders to residents in all states except Arkansas, New York, Pennsylvania, Vermont, Virginia, West Virginia, Wisconsin and Washington, DC.

What to watch out for

Consider these potential drawbacks before applying for a LoanAtLast installment loan:

• Expensive to borrow. Like all short-term loans, you face staggering APRs in the triple digits.
• Tribal lender. LoanAtLast doesn’t have to abide by any state or federal regulations and can’t be sued in a US court of law — all disputes are handled by a Tribal Regulatory Authority.
• Mixed reviews. Some former borrowers posted on Trustpilot and with the Better Business Bureau that they had issues working with LoanAtLast’s customer service team to make repayments, though others praised the team and its speedy application process.

Compare installment loan providers like LoanAtLast

Be cautious of the extremely high interest rates

LoanAtLast offers an example on its website of the rates and terms you might qualify for — and the costs are astronomical. A $500 loan with a 676% APR and 20-month term will end up costing you over $2,000 — and that’s if you’re able to make the payments on time without incurring additional fees.
While this isn’t unlike other short-term lenders, it’s still something to keep in mind when exploring your options. You may also want to check out some short-term loan alternatives while you compare other lenders.

Is it safe to apply with LoanAtLast?

Generally, yes. LoanAtLast runs a secure website with 256-bit SSL encryption alongside industry-standard firewalls and virus protection software. It states that only authorized employees have access to your information, and its security ticket is valid until 2020. You can also check out its privacy policy to see what information it collects, how its used and how you can limit sharing with business affiliates.

LoanAtLast installment loans reviews and complaints

Reviews of LoanAtLast are a mixed bag. Many praised its fast turnaround and helpful customer service, although several warn about the extremely high interest rates and the overall cost of a loan. Others had issues working with customer service to pay back their loan.

Am I eligible?

To qualify for a LoanAtLast installment loan, you must:

• Have an open checking account in your name.
• Not be involved in a bankruptcy case.
• Be a US citizen or permanent resident.
• Be at least 18 years old.

How do I apply?

You can apply for a LoanAtLast installment loan online by following these steps:

1. Visit LoanAtLast’s website and select how much you want to borrow.
2. Enter your full name and email, select your state of residence and click Apply Now.
3. Fill in your phone number and address, then click Next.
4. Enter your source of income, pay frequency and take-home pay. Click Next.
5. Choose an ID number, then fill in your date of birth, Social Security number and banking information. Click Submit.

LoanAtLast notifies you by email with a decision. You may be asked to submit extra documentation to verify your identity and income, which might require a call with a customer service representative.
Once you reach the final stage of approval, LoanAtLast sends your loan contract and disclosures. Read these carefully, as they should outline exactly how much your loan costs, any fees you may incur and your payment schedule. If you agree, sign your loan contract electronically. Applications approved before 4:30 p.m. CT can generally be funded as soon as the next business day.

I got a LoanAtLast installment loan. Now what?

Now that you have your loan, it’s time to start thinking about repayments. LoanAtLast offers three ways to make your monthly payments:

• Electronic funds transfer. Set up your checking account to have your payment directly transferred to LoanAtLast.
• Money order or cashier’s check. Drop this in the mail, but make sure it’s dated before your payment due date.
• Payment by phone. Call LoanAtLast two days before your due date to make a payment with your debit card.

There is a late payment fee of $20 if you miss your due date by more than five days, and LoanAtLast charges a non-sufficient funds (NSF) fee of $30 if there isn’t enough money in your account.
Keep an eye on your loan balance and bank account. If you notice anything off, reach out to LoanAtLast by calling 844-676-8550, emailing customerservice@loanatlast.com or by using the online chat feature.

Bottom line

LoanAtLast may be a member of the OLA and follow a list of best practices, but that doesn’t mean it’s a cheap option. However, its wide availability and quick turnaround could make it useful if you live in a state where short-term lending is usually illegal. Just be sure you understand how tribal lending works before you borrow.
And of course, you should always compare your installment loan options to make sure you’re getting the best deal out there.

Frequently asked questions

• What are LoanAtLast's customer service hours?

  LoanAtLast’s customer service team is available weekdays from 7 a.m. to 7 p.m. CT and Saturdays from 8 a.m. to 4:30 p.m. CT.

• What happens if I have a problem with my loan?

  Because LoanAtLast is run by a sovereign tribe, you can’t file a complaint with your state. Instead, you’ll need to notify the Tribal Regulatory Authority of the issue. LoanAtLast suggests reaching out to customer service first, as it claims many problems are resolved without involving the Tribal Regulatory Authority.

• How can LoanAtLast charge such high interest?

  LoanAtLast is wholly owned and operated by a sovereign tribe. This means it isn’t required to follow any state or federal laws when it comes to usury caps — the amount a lender can charge in interest. Because of this, LoanAtLast and other tribal lenders are able to charge high interest rates and fees that can add hundreds of dollars to the cost of your loan.

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