paying back CashCall question.
Date: Tue, 01/13/2009 - 19:17
119 month term.
She pays 331 or so a month, but only about 30 of that goes to the principle.
My siblings and I are considering getting together and helping her pay off her CashCall dept.
My question is, if we add another 2000 a month to her CashCall payments of 331, does that mean we will pay down the principle by 2000? Or would they do something sleazy and make it so we only pay mostly the interest, like with the minimum payment.
I have never borrowed money before so I have no idea how this works.
debt
:twisted: I wanna tell ya I dealt with Cash Call, at one time. When you say $10,000, are you including all of that VERY high % that they charge you? When I took out a loan with them, I 'barrowed' $2500.00...I had to payback almost $8000.00 by the time it was 'all done and over with.' They are crooks!! They will NEVER 'work with you'....trust me. What was the ORIGINAL amount that was barrowed? With Cash Call, they don't check your credit. I would try and call them and see what the 'payoff' balance is..as of 'today'...understand? They CAN be sneaky. They may offer you a "great offer to lowever payments, etc." DON'T listen to them!! AOT of people, on this forum have had their own 'horror stories' with Cash Call. If you have anymore questions, feel free to ask.
Like I said, the loan amount was $10,000. My mother has been
Like I said, the loan amount was $10,000.
My mother has been paying $ 331 for 34 months, and still owes around $ 9,700.
I am in California, I doubt if it was an internet loan. Are they legal in CA?
CashCall isn't a payday lender, they are backed by a bank.
CashCall isn't a payday lender, they are backed by a bank.
"CashCall isn't a payday lender, they are backed by a bank."
"CashCall isn't a payday lender, they are backed by a bank."
Not sure what your point is.
So my original question was...
If you pay more then the minimum payment per month, does that extra money go to paying down the principal?
Your poor mom. Cash Call is the devil. I have done some searc
Your poor mom. Cash Call is the devil.
I have done some searching and I can not find anywhere if paying extra will go towards the principle.
To be safe I think your best bet is to have her continue to make the payments and in the mean time take that extra you were going to pay and set it aside for a couple months until you have enough saved to pay it off in one lump sum. Don't be surprised if the pay off is more than the original loan.
The answer is yes, it will go to the principle. I know I have ha
The answer is yes, it will go to the principle. I know I have have a loan with them too.
"CashCall isn't a payday lender, they are backed by a bank."
"CashCall isn't a payday lender, they are backed by a bank."
Not sure what your point is.
So my original question was...
If you pay more then the minimum payment per month, does that extra money go to paying down the principal?
I just wanted to make sure you understood that since this was posted in the payday loan section. You can read more about CashCall by CLICKING HERE. :)