We have been contacted by a number of financial counsellors with serious concerns about Cigno Loans. On its website Cigno advertises itself as “an emergency cash specialist” and claim to act as a “helper” in obtaining a “short-term emergency loan” through lenders including “choice lender, Gold Silver Standard Finance”.
Cigno (and Gold Silver Standard Finance) operate like a pay day lender but they are not licensed under the National Consumer Credit Protection Act. We think they should be.
If you are helping someone with a loan from Cigno or Gold Silver Standard Finance, we can assist with a template complaint letter and advice. Call our worker advice line on 03 9602 3326