cash call letter question

Don't forget to revoke any wage assignments you may or may not have signed. :wink:

I dont think that cash call is a pdl.

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.

He can still revoke it though, couldn't he?

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.

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:)

Thats fine because they are legal I didnt want you to get into a mess with them

Well I appreciate the fact that you caught this one Kash, muchas gracias! :)

your are quite welcome

Shazz. . you can revoke on ANY ACH authorization you give to anyone. Legal or not.

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.

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.

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?

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?

If you go more than 30 days past due, you go to "phase II", which is the ENTIRE LOAN BECOMES DUE - THE WHOLE AMOUNT. They wouldn't sue you right away but I wouldn't even go down that road. They are not a payday loan. Unfortunately, they are a completely legal installment loan, as stated above (albeit at 96%).

I would find out which of your PDL's are legal, which illegal in your state. I would defintely pay cashcall before any of your illegal PDL's. File complaints about the illegal PDL's and only pay back the principal. Try to work out arrangements with the legal ones. There are many here who will help you determine which PDL's you have are illegal/legal in your state.

Thanks for clairifing, I already know all about my PDLs, they are 3 store fronts and they are legal, again, I'm not past due with cashcall, and I don't intend on being so, just wanted to send moneygram so I can take care of my bank account, Thanks again, Reny

Just be aware that when you are on ACH authorization with cashcall, they give youu 15 "extra" days to pay. So, you are really due on the 1st, but they let you take it out on the 15th with ACH. If you revoke your ACH, they expect payment on the 1st via other means (moneygram or money order). Just thought I'd let you know that if you didn't already, because they will start contacting you earlier when you're not on ACH, because they claim they have to get verbal arrangements from you over the phone.

I completely understand having to revoke your ACH. I had to do the same thing not too long ago. They are honoring my request not to be contacted at work, and I had to change my home and cell numbers (for a different reason, another scam/threat) and don't give those numbers out. So now they email me all the time, but it's better than being on the phone with them. They are not nice people and very, very aggressive.

good to know!! Thanks

Trust me, I've been there (and still am). One time, I was sending a moneygram to them on the last business day of the month on a Friday night(to avoid going 30 days). I've pushed the envelope as far as you want to ever push it with them.