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 Posted: Mon May 19, 2008 9:13 am
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I'm drafting a letter to cash call to revoke EFT, I've included the legals about not having to to EFT, what else should I say...
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lmale
Joined: 28 Mar 2008
Posts: 312
Debtcc Points: 2671
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 2845
Debtcc Points: 19929
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Posted: Mon May 19, 2008 9:37 am
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I dont think that cash call is a pdl.
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Posted: Mon May 19, 2008 9:38 am
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To all those looking for information regarding Cash Call:
Cash Call is NOT a payday loan! They are backed by a bank.
Federal Law allows them to operate when backed by an FDIC insured bank in any state without a seperate license. Federal law also allows them to import the interest rates from their home state.
Since they aren't a pdl, they don't follow the same laws. Cash Call will sue someone if they don't pay, and they will win because they are 100% legal.
Since they are backed by an FDIC insured bank, usually First Bank of Deleware, they are allowed to import their interest rates from their home state. So the interest rate of 99.24% is totally 100% LEGAL.
This company sucks! They are evil, evil, evil. If you don't pay them, they will sue you. But they won't sue you right away. They will wait a few months so that your balance ballons up, then sue you because they know that once a judgement has been entered against you they will not get their 99.24% interest any longer.
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Shazzers
Moderator
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Posts: 2845
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Posted: Mon May 19, 2008 9:49 am
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If its an installment loan and it is legal, i doubt they use wage assignments. I would assume they would just go the legal route to court.
Shaz, I would be real careful with this one. They seem ruthless.
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Posted: Mon May 19, 2008 10:26 am
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Thanks you can revoke the EFT, the have an address to do so. I'm going to pay them I just want to send money orders:)
_________________
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Guest
Debtcc Points: 100
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Posted: Mon May 19, 2008 10:27 am
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Thats fine because they are legal I didnt want you to get into a mess with them
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Shazzers
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Posted: Mon May 19, 2008 11:03 am
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your are quite welcome
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Posted: Mon May 19, 2008 6:27 pm
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Shazz. . you can revoke on ANY ACH authorization you give to anyone. Legal or not.
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llw1995
Joined: 02 Feb 2008
Posts: 1082
Debtcc Points: 11631
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Posted: Mon May 19, 2008 8:04 pm
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You can revoke this, but with Cashcall, take it from me, they're going to try it anyway. I would be all over this from the start. They will also call you and demand Moneygrams which can be expensive. Stand your ground with them.
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kscornell
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Joined: 22 Jul 2006
Posts: 3426
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Posted: Mon May 19, 2008 11:00 pm
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You can revoke your ACH with cash call, but just be sure you send them moneygram payments. Another thing, don't go a month without a payment. If you let May's payment go into June, you go down a road you don't want to go. They will call and call you to make arrangements before month end - so you might want to change your phone to a private number - I did. They will honor your request not to call them at work. But I repeat, don't let your payment go past the end of the month. They ARE legal as others have said, and they DO sue people. I have 28 freakin payments of 216.55 left with them. I really HATE them. They are SO RUDE AND AGGGRESSIVE. Again, it's worth repeating a third time - DO NOT go 30 days past due. Just be firm with them that you will only correspond with them via email or letter. They can't force you to give them private phone #'s as a condition of the loan.
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goldhelmet
Joined: 28 Mar 2008
Posts: 65
Debtcc Points: 1167
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Posted: Tue May 20, 2008 4:30 am
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If this is the case that they will try and debit against a revoked account, then wouldn't it make sense to certainly go to their processor as they won't debit against a revoked account?
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llw1995
Joined: 02 Feb 2008
Posts: 1082
Debtcc Points: 11631
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Posted: Tue May 20, 2008 4:55 am
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goldhelmet, I'm not trying to go past due, due to the payday loan mess I'm in, I'm going to have to stop all my ACH withdraws, including good stuff like my car insurance, however, now you have me wondering...one month past due will cause them to sue you??? Seriously? I'm hoping I've misunderstood you. Or are you just meaning if you go a month past due, they will hound you to death?
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lmale
Joined: 28 Mar 2008
Posts: 312
Debtcc Points: 2671
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