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Cashcall

Johnny of Catasauqua PA (01/30/09)
needed a loan , they sounded like they can be trusted. was approved and learned that the interest rate was over 95%. ill be paying them double. its crazy..

i cant aford keeping payments of 216.55 each month for 40 months and have just a fraction of my payment applied towards the principal. Can this be legal, i consider it a rip off.. unfair game..

Kimberly of Waldorf, MD January 30, 2009

Kimberly of Waldorf MD (01/30/09)
I ran into some financial difficulty in 2007 and was approved for a 5000 loan from Cashcall. I always made my payments on time and when I checked my balance after almost a year, I discovered that I only really had paid a total of 25 towards the principle. The 254 monthly was going toward interest. I was able to get a loan through my credit union to pay them and two other debts off. I swore I would never borrow from them again. Worst came to worst and I borrowed 2600 against my better judgement.

Four months later, I ran into more financial difficulties with this bad economy. I am currently 15 days late on my payment for February and they have been calling my phone to death. They finally caught of with me at work and I explained about my financial issues. One nice rep stated that they had programs that could either lower my monthly payment or my interest rate but I needed to be caught up on payments. She put the rep on the phone that was handeling my loan. He started off nice and then became very rude. He was over talking me and threatened to send me to collections if I did not have the money by Feb. 30. He told me that I needed to borrow the money from someone else to catch up on my payment and they could not wait until my next pay on Feb. 5th. He called me again the next day and I told him that I had just talked to him the day before and he said that the calls will continue until I make my payment.

I can't believe how brazen these people are and that they are allowed to continue in business. Grant it people do fall on hard times and they are a quick source to get money from, however, in the end it ends up being a really bad decision! They should be regulated in how much interest they can charge and they need to be reported about how they treat consumers! I have all intentions on catching up on payments, but I will no longer allow them to deduct money from my account, I will send my payments in. I have also printed out the Fair Debt Collections Act and read through it so I can let these people know that inspite of the contract I may have signed, it doesn't give them a right to break the law to collect a debt and I'm gonna threaten to sue them like they threaten to send me to collections!

Daniella of Vacaville, CA January 30, 2009

Daniella of Vacaville CA (01/30/09)
In June 2006 I was behind on my mortgage so I contacted cash call for a loan of 2500. I was told I was approved for 5000 and that what the loan was made for. They would take the payments out of my bank account directly in the amount of 251.31. I have been paying for 2.5 years and have paid 7500 so far and it turns out that I still owe almost the entire 5000.

This is a scam and a rip off. I was unable to make the January 2009 payment and they call my work and my home at least 5 to 6 times a day. I do not make as much money, I lost my house, my daughter is sick and there is nothing I can do. But they will not leave me alone. I don't see how this can be legal and i wonder if it really is. This seems like loan sharking to me.

Jamie of San Diego, CA January 29, 2009

Jamie of San Diego CA (01/29/09)
I too was a DUMB consumer, not only did I borrow from Cashcall once but TWICE!!! Talk about being desperate! I was a single mom and behind on every bill including rent. After receiving the 1st loan for 5000.00 and paying 250.00 per month for 10 months w/out the balance moving down, I finally cleaned my credit up and was able to get a loan from my credit union to pay Cashcall off. I sent them a 5000.00 cashier's check from my credit union via overnight mail so they could not add any new charges after quoting the pay off amount.

Well about 2 years later I became desperat again and applied for a 2,500.00 loan, well after paying on that loan for about 9 months, I fell behind and started receiving the harrassing calls. I changed my number and they never had my work number. Once I moved, they eventually sent someone to my last known address to have me served for small claims. The funny thing is when you have someone served you must HONESTLY state that you served the person you are suing, of course they said they served me, funny I don't live at that address but know the people who do and they called to tell me that a letter was delivered to me.

I contacted the courts and found out a small claims lawsuit did exist however the court informed me that it was against the law for Cashcall to lie and say they served me. The court advised me to file a claim called Notice of Motion To Vacate Judgment and Declaration since not being properly served. I also found out that in California you can only sue in small claims court for 2,500.00 and you cannot sue more than 10 people in any given year. Needless to say, I have since, contacted all 3 credit bureaus who have deleted Cashcall off of my report. I don't deny owing them, but I look at it this way, if they can play dirty with us (Consumers) then we should be able to fight fair!!!

Kimberly of St. Louis, MO January 29, 2009

Kimberly of St. Louis MO (01/29/09)
After taking the loan of 2600.00 and making 16 payments at 216.44, I come to find out that I still owe over 2600.00. the interest rate of 96% was misrepresented and they will not work with you to get it lowered. I am at the point of stopping payments and waiting on a lawsuit from them. I don't believe that any person on the right side of the law will allow for a consumer to continue to pay that outragous rate.

Edward of Independence, CA January 16, 2009

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