3 Things to Know About Bright Lending

Hannah Locklear | September 05, 2023

In an era where securing personal loans is increasingly common, but not always straightforward, navigating through lenders and their offerings is crucial. One lender you may have come across in your search is Bright Lending. But what should you be aware of before diving in to a Bright Lending loan? This article breaks down three important aspects to consider before using Bright Lending’s services.

But first, let’s explore what Bright Lending is and how the company operates.

Sued by Bright Lending? Use SoloSettle to settle the debt.

What is Bright Lending?

Bright Lending is a digital lending platform that provides short-term personal loans, often referred to as installment loans. Although the company markets these loan options as an alternative to payday loans, it's important to note that their loans come with very high Annual Percentage Rates (APRs).

Bright Lending offers a maximum loan amount of $1,000 for new customers and $2,500 for returning customers who are members of their VIP Loan Program.

Here is a link to the Bright Lending login page. Below is the Bright Lending phone number and other contact information:

Bright Lending account resolution number: 1-866-376-2877
Bright Lending customer services number: 1-866-441-7674
Email: accountresolution@brightlending.com
Mailing Address: PO Box 578, Hays, MT 59527

Even though Bright Lending is a legit lending service, potential customers should be warned about their expensive terms of use. Here are three things you should know about Bright Lending before taking out a loan with them.

1. Bright Lending is owned by Aaniiih Nakoda Finance, LLC DBA Bright Lending (“Bright Lending”)

Bright Lending is owned by the Fort Belknap Reservation of Montana. Since it is owned by a federally-recognized and sovereign American Indian Tribe, Bright Lending does not have to adhere to state laws. This information is explicitly outlined in Bright Lending’s terms of use as follows:

“The laws of the Fort Belknap Indian Community of the Fort Belknap Reservation will govern these Terms of Use, without regard to the laws of any state or other jurisdiction, including the conflict of laws rules of any state.”

This means that, if Bright Lending sues you for debt, they don’t have to abide by your state laws in the matter. This can make it difficult to navigate any legal issues that may arise with Bright Lending.

2. Bright Lending reviews aren’t great

Bright Lending is not accredited by the Better Business Bureau (BBB), and it has very poor reviews on its BBB page with an average 1.09/5 star rating.

The BBB has received hundred of complaints against Bright Lending. Most of these complaints mention the predatory interest rates charged by Bright Lending. Here’s an example of a real consumer’s experience with the company:

“When I applied for a loan the interest was not revealed until after I signed the documents. It is way out of my ability to pay. The loan was for $600 which I have paid back plus interest. The interest is more than 600%!!! They are taking $150 out of my bank account every 2 weeks. I only get about $350 every 2 weeks from my job.”

Even worse, the BBB has issued a consumer warning in regards to Bright Lending’s loan practices, stating that the bureau recognized a pattern of complaints from consumers alleging that after making several payments to Bright Lending, they discover they owe much more money than they borrowed.

3. Bright Lending has insanely high interest rates and APRs

Bright Lending loans charge incredibly high interest rates, with more than 725% APRs, as indicated on the company’s website. Quite frankly, this is not a fair way of lending and can cause serious financial and debt issues for people who may already be struggling with money problems.

Bright Lending recommends early payoff to avoid accumulating interest, but the payment schedule varies due to the number of days before the first scheduled payment and the principal balance outstanding at time of last scheduled payment. Even with this early payoff recommendation, Bright Lending offers repayment plans more than 12 months out (maybe even more).

Check out this warning from Bright Lending’s website:

“This is an expensive form of borrowing. Bright Lending loans are designed to assist you in meeting your short-term financial needs and are not intended to be a long-term financial solution.”

With this information in mind, you should think twice before signing up for a Bright Lending loan. Quick cash is nice, but consider the ultimate cost. You could end up paying off more than double what you borrow in the end.

Settle your debt with Bright Lending

If Bright Lending is suing you for unpaid debt, consider settling your debt to clear your name of the obligation.

When you settle a debt, you offer Bright Lending a portion of the debt in a lump-sum payment. The company then agrees to release you from the remaining balance and drop the legal claim against you.

Debt settlement benefits both creditors and consumers. The creditor will receive part of the debt you owe without needing to go to court or fill out paperwork for a garnishment. You’ll also avoid court, and you’ll be able to put the debt behind you without fear that the creditor will start another lawsuit against you.

To learn more about how to settle a debt, check out this video:

SoloSettle, powered by SoloSuit, is a tech-based approach to debt settlement. Our software helps you send and receive settlement offers until you reach an agreement with the collector. Once an agreement is reached, we’ll help you manage the settlement documentation and transfer your payment to the creditor or debt collector, helping you keep your financial information private and secure.

Loans like Bright Lending

Several other lenders offer short-term, small-dollar loans similar to Bright Lending. These loans are often geared towards borrowers with less-than-stellar credit or those who need quick access to funds. Here are eight loans like Bright Lending:

• SpotLoan: Spotloan is another online tribal lender that specializes in providing short-term installment loans.
• LendUp: LendUp offers short-term loans that are designed to help borrowers build credit. They also provide financial education to help customers make informed borrowing decisions.
• OppLoans: OppLoans provides installment loans, which means borrowers can pay back their loans in a series of scheduled payments over several months. They offer higher loan amounts than some other short-term lenders.
• Rise Credit: Rise offers installment loans with repayment terms that range from several months to a couple of years. They also provide free credit monitoring and financial literacy tools.
• Earnin: Instead of traditional payday loans, Earnin allows users to get an advance on their next paycheck without charging typical loan fees. However, they allow users to leave a "tip" for their service.
• Dave: Dave is an app that provides small advances on upcoming paychecks and helps users manage their finances to avoid overdraft fees.
• CashNetUSA: CashNetUSA offers payday loans, installment loans, and lines of credit depending on the state in which you reside.
• Check Into Cash: This is one of the older short-term lenders, having been established in the 1990s. They offer payday loans, installment loans, and title loans.
• Speedy Cash: Like Check Into Cash, Speedy Cash offers a variety of short-term lending products, including payday loans, installment loans, and title loans.

When considering any of these alternatives, it's essential to:

• Research interest rates. Short-term loans often come with high APRs. Make sure you understand the costs before borrowing.
• Check terms and fees. Always read the fine print to understand repayment terms, any potential fees, and other loan details.
• Review the lender’s reputation. Look for reviews, ratings, and any regulatory actions against the lender.
• Consider alternatives. Sometimes, less-expensive borrowing options might be available, like credit unions, personal loans, or borrowing from friends and family.
• Remember, while these loans might offer a quick financial fix, they should not be a long-term financial strategy due to their high costs. Always borrow responsibly and consider all available options.

What is SoloSuit?

SoloSuit makes it easy to fight debt collectors.

You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.

SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.

>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate

>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)

How to answer a summons for debt collection in your state

Here's a list of guides for other states.

All 50 states.

• Alabama
• Alaska
• Arizona
• Arkansas
• California
• Colorado
• Connecticut
• Delaware
• Florida
• Georgia
• Hawaii
• Idaho
• Illinois
• Indiana
• Iowa
• Kansas
• Kentucky
• Louisiana
• Maine
• Maryland
• Massachusetts
• Michigan
• Minnesota
• Mississippi
• Missouri
• Montana
• Nebraska
• Nevada
• New Hampshire
• New Jersey
• New Mexico
• New York
• North Carolina
• North Dakota
• Ohio
• Oklahoma
• Oregon
• Pennsylvania
• Rhode Island
• South Carolina
• South Dakota
• Tennessee
• Texas
• Utah
• Vermont
• Virginia
• Washington
• West Virginia
• Wisconsin
• Wyoming

Guides on how to beat every debt collector

Being sued by a different debt collector? Were making guides on how to beat each one.

• Absolute Resolutions Investments LLC
• Accredited Collection Services
• Alliance One
• Amcol Clmbia
• American Recovery Service
• Asset Acceptance LLC
• Asset Recovery Solutions
• Associated Credit Services
• Autovest LLC
• Cach LLC
• Cavalry SPV I LLC
• Cerastes LLC
• Colinfobur
• Covington Credit
• Crown Asset Management
• CTC Debt Collector
• Cypress Financial Recoveries
• Delanor Kemper & Associates
• Eagle Loan of Ohio
• Educap
• Estate Information Services
• FIA Card Services
• Forster & Garbus
• Freshview Solutions
• Fulton Friedman & Gullace LLP
• Harvest Credit Management
• Howard Lee Schiff
• Hudson & Keyse LLC
• Integras Capital Recovery LLC
• Javitch Block
• Jefferson Capital Systems LLC
• LVNV Funding
• Mannbracken
• Mariner Finance
• Medicredit
• Michael J Adams PC
• Michael J Scott
• Midland Funding LLC
• Mullooly, Jeffrey, Rooney & Flynn
• Mountain Land Collections
• MRS Associates
• National Collegiate Trust
• Nationstar Foreclosure
• Northstar Capital Acquisition
• NCEP LLC
• NRC Collection Agency
• OneMain Financial
• Palisades Collection LLC
• Pallida LLC
• Paragon Revenue Group
• Pinnacle Collections Agency
• PMAB LLC
• Portfolio Recovery Associates
• Provest Law
• PYOD LLC
• Reunion Student Loan Finance Corporation
• Revenue Group
• Regents and Associates
• RSIEH
• Salander Enterprises LLC
• Second Round Sub LLC
• Security Credit Services
• Sherman Financial Group
• Suttell and Hammer
• T-Mobile
• Transworld Systems
• Tulsa Teachers Credit Union
• UCB Collection
• Velo Law Office
• Velocity Investments
• Waypoint Resource Group
• Weinberg and Associates
• Wolpoff & Abramson

Win against credit card companies

Is your credit card company suing you? Learn how you can beat each one.

• Bank of America
• Capital One
• Chase
• Credit One Bank
• PayPal Synchrony Card
• SYNCB/PPEXTR
• Synchrony Bank
• Target National Bank
• Wells Fargo

Going to Court for Credit Card Debt — Key Tips

How to Negotiate Credit Card Debts

How to Settle a Credit Card Debt Lawsuit — Ultimate Guide

Get answers to these FAQs

Need more info on statutes of limitations? Read our 50-state guide.

Why do debt collectors block their phone numbers?

How long do debt collectors take to respond to debt validation letters?

What are the biggest debt collector companies in the US?

Is Zombie Debt Still a Problem in 2019?

SoloSuit FAQ

If a car is repossessed, do I still owe the debt?

Is Portfolio Recovery Associates Legit?

Is There a Judgment Against Me Without my Knowledge?

Should I File Bankruptcy Before or After a Judgment?

What is a default judgment?— What do I do?

Summoned to Court for Medical Bills — What Do I Do?

What Happens If Someone Sues You and You Have No Money?

What Happens If You Never Answer Debt Collectors?

What Happens When a Debt Is Sold to a Collection Agency

What is a Stipulated Judgment?

What is the Deadline for a Defendants Answer to Avoid a Default Judgment?

Can a Judgement Creditor Take my Car?

Can I Settle a Debt After Being Served?

Can I Stop Wage Garnishment?

Can You Appeal a Default Judgement?

Do I Need a Debt Collection Defense Attorney?

Do I Need a Payday Loans Lawyer?

Do student loans go away after 7 years? — Student Loan Debt Guide

Am I Responsible for My Spouses Medical Debt?

Should I Marry Someone With Debt?

Can a Debt Collector Leave a Voicemail?

How Does Debt Assignment Work?

What Happens If a Defendant Does Not Pay a Judgment?

How Does Debt Assignment Work?

Can You Serve Someone with a Collections Lawsuit at Their Work?

What Is a Warrant in Debt?

How Many Times Can a Judgment be Renewed in Oklahoma?

Can an Eviction Be Reversed?

Does Debt Consolidation Have Risks?

What Happens If You Avoid Getting Served Court Papers?

Does Student Debt Die With You?

Can Debt Collectors Call You at Work in Texas?

How Much Do You Have to Be in Debt to File for Chapter 7?

What Is the Statute of Limitations on Debt in Washington?

How Long Does a Judgment Last?

Can Private Disability Payments Be Garnished?

Can Debt Collectors Call From Local Numbers?

Does the Fair Credit Reporting Act Work in Florida?

The Truth: Should You Never Pay a Debt Collection Agency?

Should You Communicate with a Debt Collector in Writing or by Telephone?

Do I Need a Debt Negotiator?

What Happens After a Motion for Default Is Filed?

Can a Process Server Leave a Summons Taped to My Door?

Learn More With These Additional Resources:

Need help managing your finances? Check out these resources.

How to Make a Debt Validation Letter - The Ultimate Guide

How to Make a Motion to Compel Arbitration Without an Attorney

How to Stop Wage Garnishment — Everything You Need to Know

How to File an FDCPA Complaint Against Your Debt Collector (Ultimate Guide)

Defending Yourself in Court Against a Debt Collector

Tips on you can to file an FDCPA lawsuit against a debt collection agency

Advice on how to answer a summons for debt collection.

Effective strategies for how to get back on track after a debt lawsuit

New Hampshire Statute of Limitations on Debt

Sample Cease and Desist Letter Against Debt Collectors

The Ultimate Guide to Responding to a Debt Collection Lawsuit in Utah

West Virginia Statute of Limitations on Debt

What debt collectors cannot do — FDCPA explained

Defending Yourself in Court Against Debt Collector

How to Liquidate Debt

Arkansas Statute of Limitations on Debt

Youre Drowning in Debt — Heres How to Swim

Help! Im Being Sued by My Debt Collector

How to Make a Motion to Vacate Judgment

How to Answer Summons for Debt Collection in Vermont

North Dakota Statute of Limitations on Debt

ClearPoint Debt Management Review

Indiana Statute of Limitations on Debt

Oregon Eviction Laws - What They Say

CuraDebt Debt Settlement Review

How to Write a Re-Aging Debt Letter

How to Appear in Court by Phone

How to Use the Doctrine of Unclean Hands

Debt Consolidation in Eugene, Oregon

Summoned to Court for Medical Bills? What to Do Next

How to Make a Debt Settlement Agreement

Received a 3-Day Eviction Notice? Heres What to Do

How to Answer a Lawsuit for Debt Collection

Tips for Leaving the Country With Unpaid Credit Card Debt

Kansas Statute of Limitations on Debt Collection

How to File in Small Claims Court in Iowa

How to File a Civil Answer in Kings County Supreme Court

Roseland Associates Debt Consolidation Review

How to Stop a Garnishment

Debt Eraser Review

Do Debt Collectors Ever Give Up?

Can They Garnish Your Wages for Credit Card Debt?

How Often Do Credit Card Companies Sue for Non-Payment?

How Long Does a Judgement Last?

​​How Long Before a Creditor Can Garnish Wages?

How to Beat a Bill Collector in Court