Cash Call Class Action Lawsuit Information

Sweet, I see you have registered. I have some good information to help you with Cash Call. Do you see the pm button on the bottom of my post. I am going to pm you the information. If you look to your right you shoud see a cartoon person and CHAT underneat it...right under that there are six bullets the first which should say You have 1 new message. Click on this and your message should be there. Let me know if you do not get this. Roxy.

You may want to try this too...

Where to Complain, Get Information:
Regulator: Indiana Department of Financial Institutions
Address: 30 South Meridin Street, Suite 300 Indianapolis IN 46204
Phone: (800) 382-4880
Fax:
Regulatory Contact: Mark Tarpey,, Supervisor, Consumer Credit

roxy can you send me the info too?

Don't evert loan with them. I was stupid enough and regret it every month.

I once missed a payment and they were complete SOB's about it. Very un-negotiable and what they say changes depending on who you talk to.

Unfortunatly, they are a legally operating company. There is little that can be done unless you get them breaking a law.

I took out a $2600 loan with them and paid monthly untill I had paid over $4,000 to them. I missed one payment but then picked up the next month on a regular payment schedule but could not make up the missed payment. Well they called everyone in my office and threatened and yelled at me untill I just gave up, stopped paying completely and waited for them to take me to court. Then they started making me offers (via e-mail) to settle at half the amount I borrowed but I still ignored them. Next thing I knew, instead of suing me, they showed up on my credit report as a "write off" and now I'm notice from a collection agency. As far as I'm concerned the account can rot off my credit over the next 7 years!

so that was it, it just wrote off? no court no suing you? HUMMMMMMMMM What's the collection agency asking for?

They have sued people in the past, so be careful . . . . . . They have a habit of waiting a while so that the interest builds up on the loan before they sue. When they get a judgement the interest rate is set by your state, so they don't make as much suing right away. So they wait for the loan to build up.

Having a loan with them myself...If I were in collections I would be happy and would work out a payment plan with the CA. Many people here are still paying them becuase they do not know if they will be sent to a CA or be sued and they can not afford to let the loan build and be sued for a larger amount.

Yeah - It's the not knowing which way they will go that sucks. I know someone that was sued 8 months after the defaulted. Another person was sued 10 months after default.

That is the only thing that keeps me paying them. I can not afford to be sued. If I knew for sure I would go to collections I would be done with them in a heartbeat.

Well I think that they wrote off my debt to a collection agency because I had already paid so much money to them before defaulting. In CA they can only sue you for $2500 maximum, not all the interest. It's my thought that if they took me to court they would have a difficult time prosecuting because I paid almost twice the amount of the initial loan.

Dizzy, I can certainly see your point.If I knew for sure I would not get sued...they would not see another penny from me. I would rather pay the CA.

Why can they only sue you for $2500 max? That doesn't make any sense to me . . . . Unless they were just trying to keep it in small claims court . . . . . But I would think that since they have a legally binding contract they can sue you for the full amount they wanted.

I'm not certain why, but I've had 2 friends go to court with them and that is what they were told and what happened. They can't sue you for all the interest Only the Principal loan amount less the processing fee. In these cases the loan amounts were for $2600. It must be the way they've set-up their contracts?? Just guessing.

I wonder if that has to do with state laws, just like they do not loan in certian states In those states they use the Bank of Deleware.

does anyone knowof the class action lawsuit in california against cash call.

if so please reply

I have been paying cash call for 1 year 1 month on a loan of 2,525.00 and will not be done paying it off until Oct 1, 2010 of a grand total of $9,163.37
ANNUAL PERCENTAGE RATE
The cost of my credit as a yearly rate
99.02 %

FINANCE CHARGE
The dollar amount the credit will cost me
$6,638.37

PAYMENT SCHEDULE

One payment of $285.88 on May 01, 2007.
40 monthly payments of $216.55 beginning on June 01, 2007.
One payment of $215.49 on October 01, 2010. :(

I am also dealing with cashcall. They sent my loan to loss midagation and offered to allow me to make a payment and defer my past 2 payments. I told them I would get them the money on or before the offer expired and they told me no they want it right now. I sent them a cd letter. I am sick of cashcall. I thought about writing the bank that gave me the loan and try and negoigate with them. Please send me any info on any info that would be helpful

Me too:) I'm in the same boat. They also sent me a letter just yesterday offering to defer 2 payments, I'm signing with a dmp on Friday..So I guess they will get a payment in the next couple of weeks, my DMP tells me they do work with them although CC says they don't my DMP says they tell everyone that. I belive my DMP is telling the truth, cause they have told me a few things and sure enough Cash call turns around and tells me exactly what my DMP said they would say.

I agree that cash call needs to be stopped. On a 5,000 loan, the interest rate is 59%. When peoplr are deperate for a laon, they will initially take what they can. Cash Call knows this and preys on these indviduals. Any one trying to get a class action law suit agaist this loan shark, please contact me at: personal information removed

Hi-I am looking for any info on the lawsuit referenced above. My husband is in a nightmare with them with the hourly phone calls and harassment. About 4 payments were made and then he lost his job !! I think based on the California Laws we can send a letter requesting they do not call... Any information you can provide would be helpful. Needless to say we can not pay the 99.9% interest nor $9,000. If they were under Real Estate Lending Laws this would all be illegal !! Thanks for your help.

Please remove any personal information ( not sure how all of this works )

November 30, 2008
Attorney general targets online lender
Attorney General Darrell McGraw maintains that CashCall is running a scheme to make illegal, predatory loans to West Virginians at interest rates of up to 99.25 percent annually.
By Andrew Clevenger
Staff writer

CHARLESTON, W.Va. -- With a televised ad campaign that boasted Gary Coleman of "Diff'rent Strokes" fame as a spokesman, CashCall promised quick loans of up to $5,000, even for people with not-so-great credit.

But Attorney General Darrell McGraw maintains that CashCall is running a scheme to make illegal, predatory loans to West Virginians at interest rates of up to 99.25 percent annually.

Last month, McGraw's office filed a lawsuit against CashCall, accusing the California-based company of using a South Dakota bank to circumvent West Virginia's usury laws.

"CashCall created a business model intended to fly under the protective radar of West Virginia laws that set limits on interest rates to protect consumers from financial calamity," McGraw said. "It is these kinds of unregulated lending practices that have brought West Virginia consumers and the nation to a financial precipice."

In response to an August 2007 subpoena from the Attorney General's Office, CashCall produced a copy of an agreement with First Bank and Trust of Milbank, S.D. Because a Federal Deposit Insurance Company-chartered bank issues the loans, they are subject to federal regulation and not West Virginia law, CashCall argued.

But the agreement states that CashCall is required to buy the loans back from the bank after three business days. In the copy of the agreement given to the Attorney General's Office, all the dollar figures are blacked out, making it difficult to sort out the business arrangement.

"We issued [the] investigative subpoena to try to figure out who bears the predominant economic interest [and financial risk] in the loan," said Assistant Attorney General Norman Googel, who works in the Consumer Protection Division.

CashCall's obligation to immediately buy back the loans arguably makes it the real lender, he said. By redacting the agreement, CashCall cast suspicion on its business practices, he said.

Contact the attorney general in your state. Tell them about the lawsuit from W.Va.

This is the beginning of the end for cashcall. They are now only making loans in three states.

What states? I'm hoping Washington finally made it to uncomfortable them these guys to continue lending here.

I've been searching for law firms in CA. I found one based out of San Francisco called The Sturdevant Law Firm. I will be contacting them soon to get more information.

i got sent to an attry office for my cashcall and i work out a out of court settlement with them. i know for a fact that they sue. i owed $5200 and they settle my account for $2900. i responded to a letter i got in the mail. i just made my last payment this month, and then it will be off my credit.

Actually, you do not know for a fact that they sue, only that the threaten to sue. An illegal lender is not going to jeopardize thoer operation by actually going to court and stating that they are unlicensed. They have some fast talkers that tell you that and make you settle for a lesser amount.

Cashcall is a licensed lender and they offer loans - they are not a PDL lender.

I have read many posts that they do sue...not right away...b/c they can continue to accrue interest which increases the amount you owe and will sue for.

To clear up any misconceptions about CashCall please read HERE . This company is notorious for their installment loan interest rates and crafty collection practices.

They are not a PDL loan company, and offer installment loans same as ThinkCash. Hope that helped.

Here is a post about the California Cash Call Lawsuit!
http://www.debtconsolidationcare.com/paydayloan/lawsuit.html

Thanks frogpatch :wink:

There is another one by a private attorney if you do a search on here also in California. I will try to find it.

Great I will stanby for more information.

Here it is. It is a year or two old.
http://www.lrolaw.com/frontend;jsessionid=abPEba2evhbh?command=Lawsuit &task=viewLawsuitDetail&iLawsuitId=654

we all need to get together and file a class action against them

How do you arrange a class action law suit? Does your collective group find a legal firm to present it to or what?

I agree on the agressiveness being I had a loan as well....however, take into consideration how EASY it was to get a loan from them...CASH!! I could have made it easier on myself by simply paying them as agreed. Afterall, isn't that what we sign our name on the dotted line for? Try to get a "personal loan" anywhere else. Impossible!!!!!!!!!

I aggregate class action information at classadvocate com. There are pay day loan class actions on my site. Good luck all.

George

settle it out and they will cut it down in half ...I did and got a letter right away

CashCall IS suing me in PA for $5,000

Sorry I made a mistake, I didn't edit your post.

They are legal unfortunately, try a settlement offer.