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Cashcall

Patricia of Canby, OR November 6, 2009

I took out a loan 2 yrs ago. It was 2500. and I have had automatic payments; which I did. But since everyone is out of work and all my money has to go to rent and electricity. I tried to get them to work with me. I paid the 2500. back as far as I am concerned. But they say I owe that plus 100 percent interest. This company needs to be stopped. I agreed to pay them which I have. But they also agreed to lower the interest rate, and let me start over at 106. a month but now they are demanding more money that I have.

Jacqueline of SeaTac, WA October 27, 2009

Update: Cash Call apparently didn't receive a payment I had mailed. So, they sent me an email offering a deal to cut payments in half and re-amortize my account, even drop the interest to 47%. They gave me a deadline of Oct. 29, 2009. Great deal.

HOWEVER: On Oct. 23, 2009, they tried to withdraw 216.55 from my checking account without waiting to see if I accept their offer. The ACH withdrawal was attempted without my permission. In fact, I had sent Cash Call a written form stating that my permission for their ACH activities was withdrawn. Now, why would they give me a deadline, then try something sneaky before that deadline is even up? How can I trust a company that does that?

Jacqueline of SeaTac, WA October 26, 2009

This is in response to Cash Call employee Jessica: Defend THIS: Cash Call accidentally charged me the wrong late fee (15 instead of 29). So, they decided to withdraw the other 14 on a random date of their choice, in between my paydays, when I had no money in my bank account. And without my permission.

When I called them, they admitted it was their fault, but did nothing to correct the situation. Sneaky, dishonest practice. After they did this, I cancelled my permission for them to withdraw funds via ACH (electronically). A few days ago, they tried withdrawing 216.55, knowing full well they no longer had permission to do so. Payments are being mailed to them. Dear Jessica of Cash Call, please explain THAT!

Merri of San Jose, CA October 22, 2009

This is just a follow-up comment after reading multiple postings on your site. My comment was posted on 9-8-09. First, a lot of people don't understand how interest works. Interest is a measure of a company's risk in lending to you. They do a "soft credit" analysis and determine interest from that. Mine is 34% - I make 6 figures/year and am in no danger of losing my job with the recession.

I AM shocked at interest rates in the 90+% range. I KNOW I'm not their typical client. My payback for a 10K loan is 12 years, which I have cut to about 3 1/2 yrs with consistently making large and extra payments. My advise to people who are being harrassed by them is to look into your state's definition of "tortious collection practices." They cannot make non-stop calls daily, harrass you at work, call at weird hours like midnite or 3 AM, and other restrictions as well. If they are taken to court for tortious collection practices, it CAN cost them the balance of your loan as a punishment, or at least a good portion written off. They depend on the average person NOT having that knowledge which is how they get by with it.

If you read my previous post, the follow up is that I told them to record the payment on the day I made it and to calculate the interest correctly on that date - I would be checking. The were to post it immediately and if they didn't, I'd use the tape I made (I taped them at the same time they were taping our transaction so I could prove I authorized the payment days before they even posted it.

Taping someone in CA without consent is illegal - to which I told them to sue me and we'd compare crimes - fraud is worse). ALWAYS tape ANY conversations you have with their collections department as well as times, dates, and number of calls per day. It will help you prove tortious collection practices.

Even though they took the money out of my account 2 days after it was authorized, and didn't even post the payment on the payment history (a DELIBERATE attempt to defraud me, increase their interest, and prevent me from an early pay off, they did as I demanded - posted the payment as of 9-1-09, and correctly calculated the interest.

S of McDonough, GA October 14, 2009

I took out a loan in the amount of 2600 and the interest rate was 99.07%, I was desperate and so I signed for the loan, after making a couple of payments, I decided I would never finish paying them at the amount and went ahead and paid the loan in full, which was not reported to the credit bureau, so this didn't even help at all.

Katie of Kalama, WA October 12, 2009

My Husband took out a loan to Cash Call for 2700-. We pay 216.55 every month and have never missed a payment. we have made a total of 14 payments and now have enough money for a pay off. we have already made above the amount of the loan so we wanted to get a settlement because the laon was at 96%.

so we asked for them to except a payoff of 1500. they said no. then we ased for 1800. they again said no and said they would take 2000 and oh by the way we need to make 2 more payment's of 216.55. We do not have this kind of money and I feel they are sharks who would rather everyone loose everything they have.

We are having a hard time staying afloat. we can't afford food most of the time and our bank is overdrawn. we just want a settlement of no more that 2000 since we have paid 3031.70 for a 2700 loan.

jimmy of drew, MS October 6, 2009

i recieved a loan from cashcall in the amount of 5000.00 at a interest rate of 59.99% i contacted them last week to see if i could lower my interest rate and they told me no. i contacted cashcall about lowering my interest rate from 59.99 % that i had been paying on for 2 years and they told me that there was nothing they could do. Upon completion of my phone conversation with them i pulled up the better bussiness bureau of delaware and filed a complaint with them. well today i recieved a call from cashcall, they informed me that the better business bureau had contacted them, and they where sending out some paperwork for me to fill out and return. upon recieving the new paperwork they where going to lower my interest rate from 59.99% to 24.99% dropping my payments from 254.00 down to 140.00 a month. so evidently the complaint to the better business bureau did some good in my case.

ginger of chambersburg, PA September 30, 2009

i think that they charged too much Interest, and that they should be put out of business and give my money back.

Reynaldo of Killeen, TX September 24, 2009

We borrowed 2600.00 from them since 2007 and we had been paying 205.00 each month. They were taking it out of our account. We became finanially strapped and couldn't continue to pay the full amount so after telling us that we had defaulted, they would go ahead and lower the payments to half of 106.00 but it would not affect that we would still be paying interest on it.

we got the loan in 2007 and we are still paying on it and owe a balance of 2116.37 as of sept 24,2009. They are charging us interest of 96.00% per annum. After 2 yrs seems to me we havent brought this loan down at all and we will be paying on it for the rest of our lives.

Jim of Las Vegas, NV September 21, 2009

I always enjoy when a rep of the offending company comes on here and tries to defend its practices. So you say that they should read the contract? How about when you give a contract, all in English, to someone who speaks and reads only spanish? Someone who has claimed to never have received anything in writing in Spanish? Sure you may talk to them in Spanish, but then what? Then they are stuck with a crappy loan because of your deceptive practices.

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