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cece · Posted: Wed Aug 01, 2007 10:56 am Subject: HELP! Unpaid cashcall loan

What can i do if i haven't been paying my cashcall loan? I took a loan out a couple years ago for $2600 and I've been making payments for 22 months so I paid them a total of $4026 so far. My bank account ended up closing because I didn't have funds for 4 days the day my bill was due. Because Cashcall kept trying to debit my account Wells Fargo closed it. Now I'm stuck... what can I do?

Posted: Wed Aug 01, 2007 11:22 am Subject:

Did you call the company and verify the status of your account? Since you have been paying for such a long time, your account should be paid by now. Please check with the company if they have posted the payments to your account.

You must also be aware of the pdl laws in your state. The company must be a licensed business in your state and should abide by the laws there. You may verify about their licensing info with the Dept of Corp in your state.

Posted: Wed Aug 01, 2007 11:32 am Subject: cash call

From what I understand, Cash Call is licensed. Your best bet would be to contact Cash Call and check the status of your account. Let them know what's going on. As they are licensed, you have to tread carefully.

Posted: Wed Aug 01, 2007 12:37 pm Subject:

And they aren't a payday loan company. They do installment loans and are backed by a bank. So it is completly different laws that apply to them.

Cece · Posted: Tue Aug 28, 2007 1:31 pm Subject: HELP!

Well Cashcall keeps calling me, apparently for the past 2 years that i have been paying I still owe them $2000.00!!!! Is there anything else I can do?

Posted: Tue Aug 28, 2007 1:59 pm Subject:

Not really - They are completly legal. See the sticky we made about Cash Call -

http://www.debtconsolidationcare.com/paydayloan/cashcall-info.html

They charge outrageous interest rates. They are evil when you default. But they will sue you if you get behind, and then they will garnish your checks. So I would do what I could to budget the monthly payment in.

Posted: Tue Aug 28, 2007 2:46 pm Subject:

That is a bunch of crap Mad

. I don't know how these places can legally operate Twisted Evil

and what is wrong with our government that lets them get away with it Twisted Evil

This makes me Twisted Evil

ladybug

got caught in the cycle. · Posted: Tue Aug 28, 2007 7:02 pm Subject:

it might be worth contacting a debt consolidation company and having them contact cash call for you. town & country is working with them for me to knock down the interest.

if you keep a cashcall loan open for the entire length of the payments, you end up paying well over $8,000 when all is said and done.

i really don't see how they're legal.

Posted: Wed Aug 29, 2007 6:50 am Subject:

They are legal because they are backed by a bank. Federal law allows banks to import the interest rates from their home state, bybassing any ursury caps.

Posted: Wed Aug 29, 2007 7:12 am Subject:

I do agree that these places are legal, however, I agree with ladybug that they shouldn't be. However, and I'm sure many of us have learned the hard way with PDLs, you have to really read the fine print when it comes to these type of things, and be very cautious with any type of loan. Cashcall is more dangerous than a PDL though, being that they are backed by a bank and licensed.

Posted: Wed Aug 29, 2007 7:14 am Subject:

Yeah, and they lend you more money. They are worse then a pdl in my opinion because you can get yourself in even more trouble.

Posted: Wed Aug 29, 2007 7:19 am Subject: Cash Call

CeCe......i have some advice for you, about Cash Call. I recieved a loan from them, in November of last year. Just got to the point I JUST could not make the payments, or extra fees( what payments I COULD make ). I tried to call them, several times, to work something out. All I got was..hung up on. The last time I talked to them, was (about?) 3 months ago. I called Cash Call, agin, last night. You know what they said??!! Their "corporate office recently made a decision to 'sell' 80% of the deliquent loans ( mine, included). So..these loans are no longer 'owned' by Cash Call. A CA took the accounts. I called up the CA, who NOW hold my account. LET ME TELL YOU!!.........they are WONDERFUL to work with!! Instead of 99%, of Cash Call wanted to charge, this CA charges 5%. The actually 'pay-off' amount is about $400.00 LOWER than my ORIGINAL loan with Cash Call. I DID find out, from Cash Call, that these loans were all 'sold' to the same CA. If YOUR loan has been deliquent, more than a few months, it may be a GOOD chance, your account was 'sold' to these people, too. I don't want to say the name of the CA, on this forum...just incase your loan wasn't 'sold' to them. But..I DO have the # for Cash Call, if you need it. The CA said, they 'up-date' your CR, with the CA's name, replacing a 'negative' account with Cash Call. WOW!!! I'll tell ya!! I think I can REALLY work with this. I'm REALLY excited. Thought I would tell ya. If you need the # for Cash Call, PM me. My 'Quick Messages' don't work correctly.

Posted: Wed Aug 29, 2007 7:23 am Subject:

Wow! That is AWESOME! You wouldn't think being sold to a collection agency is a good thing, but this rocks! Yay! Very Happy

I'm so happy for you!

Posted: Wed Aug 29, 2007 8:07 am Subject: Cash Call

This debt, I can 'handle' now. I spoke to the representive, from the CA. This debt is one of the 'larger' ones, on my CR. You're right, Goudah2424..people aren't usually happy, about a CA. But..I'm glad I can work with this one!!

Posted: Wed Aug 29, 2007 7:42 pm Subject:

That is AWESOME!!!!! I wish they'd sell mine. The stupidest thing I ever did was get involved with them. You think PDL's are bad.......

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