Fairstone Financial Inc. Reviews 1,744

Tina in Lindsay office was very helpfull to meet my needs financially

I wanted to express my sincere appreciation for the exceptional service I received. The staff members were incredibly respectful and helpful throughout the entire process. Their guidance made a potentially stressful situation feel much more manageable. I am truly grateful for their professionalism and kindness. It was a pleasure to interact with such a dedicated team.

I am writing this review to share my real experience and hopefully help others avoid the same situation.

I borrowed approximately $4,000 from Fairstone. Over a little more than four years, I ended up paying close to $12,000 in total. This amount is based on actual payment history.

The loan structure is extremely costly and makes it very difficult to reduce the principal balance. Even after years of consistent payments, the majority of the money goes toward interest rather than the loan itself.

Simple actions such as making an official bank payment were unnecessarily complicated. I had to contact the company multiple times just to receive correct payment details for online banking.

This type of lending may be legal, but it is clearly designed to extract the maximum possible amount from borrowers who are already in financially vulnerable situations.

I strongly urge anyone considering Fairstone to carefully calculate the full repayment amount and exhaust all other financial options first.

Very quick and responsive and very easy to access

Worst lending company ever. The “customer service reps” are horrid folks who hate their jobs. The online portal is “not up to date”. Payments take two days to post which means two extra days of their interest charges which are astronomical at 39.9%!
Paying off the loan early, they find more money to charge and scam you out of.

Scott was amazing he was very helpful and was a real benefit to the company. He tried to get me as much as possible and it was enough for what I needed. I really appreciate the amount of determination he had in getting me a loan.

Good loan company 👏 👌

Ease of use of the website.

I would like to give a shout out to Pouya at the North Vancouver location. He consistently goes above and beyond with his customer service, being exceptionally helpful, friendly, and knowledgeable.

I paid my full loan two times. First time I paid before 20 days and then I received a call from saskatoon branch and they told me, my loan repayment has been declined after 3 weeks. I was really surprised because I have enough balance in my bank account and I never received back the repayment money. Then I went to the branch office and they had no clue about loan repayment amount declined. I repay again !2,500 CAD and I waited for refund from fairstone. But still I am waiting. Branch person has no idea, why this loan amount I paid 2 times and when I called customer care, they have also no any idea.
I never suggest to anyone to take a loan from fairstone. I think easy financial is the best option for quick loan and loan repayment.

I was mislead by the sales representative into being told I had to take the insurance in order for my loan to be approved. I paid almost 3000.00 over 6 months on a 9000.00 loan and when I went to address the insurance issue I was told I had to come in to sign off on a document to have it removed (I thought this was strange as they approved everything to give me the loan o we the phone and email). My balance at the 6 month mark was over 9000.00 after making all of those payments. I spoke to a manager and they explained it was my responsibility to read all the documentation carefully and I would have then seen that the insurance was in fact optional. I understand that I should have read the fine print more thoroughly but also felt upset because their customer service rep full out lied to me in the beginning. Luckily I was able to pay of the balance and get out of the contract (was an unsecured loan) but the whole experience left a bad taste in my mouth. Read the fine print and don't accept the insurance unless you truly need it, it is insanely expensive. These companies thrive off of people who are desperate in the moment and I would not loan from this particular company again-they refused to compensate me in any way.

Fairstone is one of the worst financial companies I have ever dealt with. It does not matter if you pay early or exactly on time, they still take all the interest regardless. There is no fairness or flexibility in how payments are handled.

Even with just a one-day delay, they apply excessive interest, and the entire system feels like a financial trap designed to take money from your account in the easiest way possible, not to help customers.

The customer service is one of the worst in Canada. They constantly call from different phone numbers, many of which look like spam or fraud calls. This behavior is unprofessional, stressful, and makes the company feel untrustworthy.

They make getting a loan look easy, but once you are in, they drain your account with high interest and penalties. When problems happen, there is no real support.

I strongly do not recommend Fairstone. If you have any other option, even a bank or a credit union, choose that instead. This company creates more financial stress than it solves.

The employees at the office in bridgewater n.s are the best to deal with
They go above and beyond to help out as best they can

Jennifer was amazing to talk ,she was very knowledgeable and friendly.

Scammers.

After weeks of trying to find out my buyout on my loan they tried to charge me late fees.

Three weeks of emails with no responses. My banker tried to contact them and also got no response.

Lori did nothing but lie to me and so did her employee Raj.

Don't borrow money here EVER.

Warning for everyone.
Don't take any loans from this company with my experience. I took $40000. Year and later i want to close the loan but they said to me i have to pay $40000+ penalty 2700. Year and half paid almost 12000$. I don't know where is that money went lol nothimg came down any principles.

I've been borrowing using Fairstone for years, I have a BestBuy retail account with them that has really helped alleviate short-term cash flow issues when I need new tech. It was easy to set up and super easy to use, plus the fees are great value and relatively small compared to the solutions they provide. Recently I paid off one of my loans the day it was due, I thought it was due on January 31 but it was due on January 27 so when I logged in on January 27 just to be safe I was very surprised and concerned. I paid the bill through my bank and thought that there might be issues if it took a few days for Fairstone to process my payment. If you're not aware, you have to pay a huge amount of interest if you don't pay on time (fair enough, they're upfront about it!). I called customer service to discuss and they said this should not be an issue as long as I made the payment before the deadline had passed, they told me I should keep a copy of my bill payment confirmation just in case I needed to prove this. Fortunately for me I did not have to pay the huge accrued interest and I didn't have to do anything extra to prove I paid on time (which I did), Fairstone either has excellent internal controls for detecting when payments are actually made and they allow for processing, or they are understanding when it comes to payments made at/near the deadline. In either case, I felt compelled to give Fairstone credit where it's due. Their services are easy to use, even their customer service answered my call within 10 seconds of calling in the middle of the day and seemed very interested in my situation and providing a solution. They've proven to me that they are an extremely professional company that is interested in making both ethical and reasonable returns on their loans. It's great to see that in this day and age. I used to associate companies like Fairstone with loan sharks but clearly this is not the case, they are very reasonable. Thank you very much.

Fairstone was fast and easy at securing my loan. The interest rate is insane and once you pay a bit on your loan they falsely advertise by calling you and telling you that you qualify for a loan when really you only qualify to apply for a loan . They say things like “ you’re pre-approved for a loan" or “guaranteed a loan “ but they are scamming you to come in and REAPPLY for a loan which dings your credit score . The Kelowna location employees are difficult to understand due to the language barrier . Also I had problems using their online services and nobody seemed to what to help me . I payed off my loan fast and probably won’t be back .Only use these ppl if your very very desperate . Loan Sharks !!

there were great to deal with and fast thanks