Cash Call Sorry long post!

I really have no idea what I am doing as far as this credit repair stuff goes and I am doing a lot of research right now. One thing I am sure of is that Cash Call is something I need to get rid of ASAP!!!!!! Here is my situation with them...

Stupidly I get a loan with these guys a cpl yrs ago for $5000. I got into some serious financial problems after a divorce 2 yrs ago leaving me unable to pay a lot of my bills and basically destroying my credit. I received a letter a cpl weeks ago from Cash call, I thought, saying they would settle debt for lump sum of $xxxx or 6 "easy" payments of $xxx. I retardedly lost this letter. I have now received a letter from attorney Steve Yaple on behalf of TK Financial about this debt, but the 30 days is up because I recently moved and this letter came in some mail that was forwarded from old address. So I called Cash call and asked about the deal mentioned above and they said it must have come from TK financial and that is who has the acct and that I will have to deal with them now. On my credit report there is no TK financial on there just Cash call listing the debt as a charge off. I have paid these people just over $4800 already but I am sure that has all been interest with maybe $200 going toward the principal!!
What do I do?? Should I keep contacting Cash call and asking them to settle this or should I contact this attorney and try to settle this with them? I am just trying to keep from getting sued.
Thanks for all that you guys do!!!!!!!!

Oh I thought I might better add to this that TK Financial is NOT reporting on my CR the only one reporting is Cash Call and they are reporting it as a charge off with a balance and a past due amount. The person I talked to at cash call made it sound as if it had been sold to TK Financial but every time I would ask if it was sold or something he would just say um all I know is it has been outsourced.

I'll need some more info in order to give you a useful advice

How long ago you made the last payment on that debt?
Which state you lived when tuck the loan?

If they offered you to settle for less than a half the debt is likely no longer enforceable or they have lost the contract or promissory note signed by you. But if you want to pay them make them an offer

It's a pretty common practice to settle debts. If you click on "Do-It-Yourself" above, you will see a page with steps on how to negotiate a settlement yourself.

Have you been contacted by TK Financial after the letter was sent? What you did with the letter? What the letter was all about?

Thanks everyone for responding!!!!! I never received anything from TK Financial just the letter from the attorney on behalf of them.

I was in oklahoma when I got the loan and I still live in Oklahoma.

I have nothing on CR except what cash call has reported that I put in earlier post. They should have a zero balance on it since they have sold the account but they dont so I will have to deal with that too.

The letter I initially received came from cash call apparently but it is no longer valid since they have sold the account. As for the letter from the attorney I will post it here so you guys can dissect it and give your opinion on it.
I dont mind settling with TK Financial but i dont think I should have to pay the $6000 they say I owe! I just dont feel like going through a court battle with these people.

Here is the letter
Original Creditor: Cash Call Inc.
Account Numberxxxxx
Account Balance: $6631.25

Dear Me,
Our office has been retained by TK Financial because you have failed to respond to their efforts to contact you regarding this debt, or you have refused to make arrangements to repay your debt.
Pursuant to section 1033 of the California civil code procedures you are hereby notified that our firm intends to commence legal action against you.
The result of this action could result in a judgement against you, in which include an award of actual cost of the filing and services process. At this time we are prepared to enter into any and all proceedings necessary to collect this debt. If we obtain a judgement against you, we may garnish your wages or place liens on your assets. Therefore immediate payment of balance indicated may save you these additional costs, if you act now.
Unless you notify this office within 30 days after receiving this notice that you dispute the validity of this debt or any portion thereof, we will assume that this debt is valid. If you notify us of any such dispute in writing within 30 days we will obtain verification of this debt or obtain a copy of a judgement and mail you a copy. If you request in writing within 30 days we will provide you with the name and address of the original creditor if different from the current creditor.
Sincerely,
Bret Yaple
Attorney at Law
This communication is from a debt collector.

I think you would need to check with the county court if there is any lawsuit pending against you. You may also call-up TK Financial and state your situation.

It looks like they will likely sue. Send them a Debt Validation letter immediately, via Certified Mail, Return Receipt Requested.

Thanks a lot Chrys! I am in the process of sending them a DV letter that Why Chat, from another site, has helped me with. If they are able to validate what should I expect next? I have never dealt with this type of situation before. I think that is why I have so many questions about this.

I have been worried that DV them will only anger them and then they will come after me with a vengeance!!! I have been struggling with whether I should DV or just call them and say ok how can we settle this. Cause no matter which way it goes I can not afford to pay them all that money at once nor should they be entitled to that much. I dont mind throwing them a couple thousand but thats about it!!!

Debt validation is a right given to the consumers to know about their debts and all the collection agencies must comply with it. If the CA fails to supply a satisfactory reply to a DV letter they can't collect on the account. Therefore, you should still send the validation letter to them.

Thanks SC!!!!

Oh, I forgot to mention: you said twice that CashCall sold your account. How do you know they sold it? I really doubt they did. "Charge Off" does not mean it is sold, it just means they reported it to the IRS as a loss.

A lawsuit is considered by the FDCPA as a collection activity. So they can't even sue you if you send the DV letter, but you need to send it *now* if you haven't already.

This is not an attorney office; they are in fact a Debt Collection Agency.
T K Financial
(510) 724-2602
1940 San Pablo Ave
Pinole CA, 94564-1733
Telephone: 5107242602

Business Contact and Profile for T K Credit Recovery Based on BBB files, T K Credit Recovery has a BBB Rating of F on a scale from A+ to F. Name: T K Credit Recovery Phone: (510) 724-2602 Address: 930 San Pablo Ave Ste B Pinole, CA 94564 Original Business Start Date: April 2002 Principal: Mr. Eric Kaasa, President Customer Contact: Mr. Eric Kaasa, President - (510) 724-2602 Employees: 7 Type of Business: Collection Agencies

Can anyone help me I am in a similar situation only I did the 6 month settlement so I thought. while paying them I had my credit run and found out they charged off my account months prior. After almost a year of thinking I was finally done with this nightmare I got a letter last week telling me they had sold my debt to someone else and I had 30 days to dispute or they were filing a judgement against me. I am in PA and desperatley need help.
Sbutter13@msn.com