Cash Call is backed by a bank and is not a payday loan company

And FYI - In most states the loan is actually funded by 1st Bank of DE.

I currently have a CASH CALL LOAN for $5k @ 59.69%. It's horrible. By the time I pay this loan off...I will be paying $21,000.00 on a $5,000.00 loan! It's the worst lender I have seen in my life! That's one mistake I will never do again!

I'm sure just about every customer of theirs has a horror story similar. These loans are in my opinion worse then payday loans because they are 100% legal, and you end up paying sooooo much on a relativly small loan amount.

I wish I had some good advice for those with Cash Call loans. All I can say is try to pay more every month then the minimum. Or see if you can borrow money at a "real" rate once your credit is a bit better and pay this evil company off.

Go here. Read the fdcpa.

According to a statement issued today, First Bank of Delaware received correspondence from the Federal Deposit Insurance Corporation ("FDIC") concerning short-term payday loans and installment loans made by the bank through various third-parties. The FDIC correspondence indicated that the Company should cease offering these loans through these channels unless the Company can demonstrate that it can correct all identified problems and change oversight of the program to ensure problems do not re-occur in the future.

This is not a PAYDAY LOAN! This is an installment loan. You pay monthly. You pay over a period of years. These loans are funded directly from 1st Bank of DE in most states. The application says 1st Bank of DE. Cash Call acts as a lead generator for them. The states in which Cash Call actually funds the loans they are licensed in.


Please, I don't know why you are trying to spread so much disinformation on this board. You may be from a payday loan company, or a collector, or you may just be trying to help. But you are not helping by spreading lies and misinformation.

HOLY S*&%!

I Guess after I rid myself of the PDL's i better start paying more to my monthly amount of $216 to Cash Call.

It's amazing how the USA is supposed to be the richest Country and all but half the companies in American get rich by tricking consumers such as ourselves into these large debts by preying on people in dire need of financial assistance.

It's really disgusting.

Ibpup - I've started you your own thread since you are looking for more then just Cash Call advice. Here is your new thread:

http://www.debtconsolidationcare.com...bout32968.html

Up until 12/2005 a bank by the name of "County Bank" of Rehoboth DE was HUGE in funding PDLS. The PDLs would rent a "Charter" from them then import the interest rates.

In late 2005 the FDIC stepped in putting a stop to such practices,citing banks are putting their reputations at risk by doing so.

If you had a PDL back then County Banks name was all over the "contracts". Most notably, "Cashnet500!"

What a great sticky! It seems a few people didn't realize.

I knew, even when I got involved with them. They don't do paydays, i.e. take money out every paycheck, they take installments, just like you would if you borrowed money to buy a car.

I also knew what kind of rate I was getting myself into. I had plans to pay most of it back with another large sum of money (my prosper loan which was taking way too long), but ended up spending them both. Very bad. I knew how bad they were even as I talked with them, but I felt I had no other option, which is why they hook people. They have convinced you that you have no other option, and then they make the big bucks.

They are definitely what I would call a predator! Don't fall prey!

Just to summarize Cash Call is a lender backed by a bank.Their loans are 100% legal in every state & cannot be dealt with like internet pdl's. Their loans are installment accounts and they probably report to credit bureaus thru their sponsored bank. The fdcpa does not apply to any original creditor period!! Check your state laws for collection or unfair trade practices for assistance in dealing with this lender.Goudah has done a superb job putting this information together & I give her two thumbs up!!

Hip Hip Hooray for Goudah.....

Always the wealth of knowledge

You are too nice . . . . I just know how to look things up fast! And have dealt with too many of these companies . . . .

Life experience really is the best knowledge, I can't see someone with good credit, no problems but 'read about it in a book' would be helpful. Well maybe if they are really good at research and have actually read everyone elses experience, but then you get that air of snobbery....

poko I am horrified that you would believe that of anyone especially me. I have no real time experience and fit into your slot as listed above. I have credit rankings in the top 10% of the nation and the only reason I do what I do is to help others that don't have what I have obtained.

Cajun, you are an exception! You fight for all of us! And are very kind about it!

I think Pokogeo was just making a generalization. I'm sure she meant no offense to you, she just didn't know that there was a poster here that fit into that description. If she knew you she wouldn't have said that.