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WANTED: PEOPLE WHO HAVE PAID OFF CASHCALL.....

Date: Mon, 04/13/2009 - 05:20

Submitted by dental0828
on Mon, 04/13/2009 - 05:20

Posts: 82 Credits: [Donate]

Total Replies: 35


Have posted this a couple of times, I am just looking for people who have worked hard and paid off their cashcall acount. I am looking for inspiration and hope. I will not default with them. Dont need to deal with the consequences. I am newly married and don't need the stress of the calls. Just looking for inspiration......


After seeing on all these forums that really the only way to payoff cashcall is to save and pay,save and pay or default. I am left with no choice but to save and pay. The problem I see with the above post is the calls and the harassing. I do not want to involve my references or have them call at work. Everytime I have called them, they have been pleasant and very helpful. I have decided to just work my butt off and get them paid off. I have called and asked about extra payments, they said that I have to call them and specify that the extra payment go to principle. I just cant deal with the stress of the calls. I got myself into this-I'll get myself out. Even if that means I dont eat or have a night out. I will do it!


lrhall41

Submitted by dental0828 on Tue, 04/14/2009 - 07:41

( Posts: 82 | Credits: )


have you tried calling customer service, and explain your situation? if you have been with them for awhile they will at the very least knock the interest rate to 30% try this first. If they dont work something out then close your checking account and default but keep in contact with them, if you do this they will not harass you to much call them first thing everyday. Otherwise you will have this bill for a very very long time


lrhall41

Submitted by on Mon, 04/20/2009 - 16:16

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Once again, I seriously would rather pay the full amount on this loan then default. I will not deal with the calls not only to me but my references. As you have prob read in previous post, to deal with a default with these guys is dangerous. They are legal and will presue in court...NOT GOING DOWN THAT ROAD. I have read some post that double payments will help tremendously. I WILL pay these guys off one way or another without defaulting-not an option. I will try the lower interest rate though. Going to call this week and see what I can do.


lrhall41

Submitted by dental0828 on Mon, 04/20/2009 - 16:56

( Posts: 82 | Credits: )


I obtained a $2,500 loan from cash call in 2004 and finally paid it off in February 2009. I had to work a second job at one point to keep from defaulting on this loan. If you miss a payment their collection tactics are brutal. I am normally a calm person; however, when I missed a payment the things they told me to do to obtain the payment was very upsetting. Just hang in there. When you finally pay them off it will be such a relief.


lrhall41

Submitted by on Tue, 04/21/2009 - 12:52

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I defaulted on a loan with them and they offered me a settlement option which of course I jumped on. I only have 5 payements left to go and the settlement payments were only a little bit more than my regular monthly payment amount. I know that it doesn't sound good to recommend you default on the loan but it did work out in my favor. And, yes they can be very nasty when they are in collection mode and they are still going to call you even if you set up a settlement option just to make sure "You are still on track."


lrhall41

Submitted by dfletcher on Tue, 04/21/2009 - 13:10

( Posts: 11 | Credits: )


tmac-All I can say is congrats! You are the only person that I have found that has actually paid it off without defaulting. I refuse to default....REFUSE! How did that last payment feel? Have they been bugging you to reloan? The second I am finished paying these guys off, without defaulting, I am going to close my account and to them fall off the face of the earth. lol Congrats. Did you ever pay more a month? Or did you just stick to the standard payment for the whole extent of the loan?


lrhall41

Submitted by dental0828 on Tue, 04/21/2009 - 13:45

( Posts: 82 | Credits: )


I will jump in here and say there have been random posts by members and guests who have managed to pay ther CC loan off. It is rare, but it has been done.

There is only one way to pay CC of without paying them $9000 on a $2500 loan. Pay it in LUMPSUM if possible.

CC does offer settlements, but that is also rare and depends on your account status. If you want to avoid the harrasment, then stick to your monthly payments. However, it will cost you more than you bargained for in the end :(


lrhall41

Submitted by Cool_Abyss on Tue, 04/21/2009 - 15:17

( Posts: 2936 | Credits: )


dental0828-The last payment felt great. No, they haven't been bugging me to reloan; however, I did receive a PIF letter from them. I was never able to pay more then the monthly payment. After looking at the amount of interest they were charging me when I received the loan, I had every attention to double up on payments, but that never happened.


lrhall41

Submitted by on Tue, 04/21/2009 - 16:18

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CashCall is not going to talk to you about lowering interest until you are late a couple of months, If you make double payments you had better make sure that your payment is applied to the principal if you dont it will all be interest they love that. I am not sure why you are thinking that taking a higher moral ground by not using default as a way of negotiation will feel better when its paid off, because it doesnt this company is using you.

I have had a loan with CC for the past 3 and a half years for $2600 have now paid over $10000 i owe them $479, i have made double payments, tripple payments, lump sum payments, and i have had to fight each and every time to make extra payments with customer service i have been on top of them EVERY MONTH by checking my balance after the extra payments only to find that they had applied EACH and EVERY extra payment to the interest oh they fix it but only if you check them on it, they lie to you they steal from you.

Hey if you dont want to go the default route thats your deal but i am here to tell you it doesnt feel any better.

I will be making my last payment to them on May 15th, i wont be posting anything on this board to express my happiness or a since of relief i will keep it to myself and hope like hell that nobody finds out that i was stupid enough to not understand what 96 pecent interest really means.


lrhall41

Submitted by on Wed, 04/22/2009 - 06:35

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Guest thanks for sharing that with the other members. I also Agree paying it according to scheduling versus defaulting doesn't make the loan balance shrink any faster. We do not advocate defaulting on any financial obligations here, but sometimes it is inevitable :? So many folks I have seen with a CC loan have defaulted and are struggling to make payments on a loan that seems bottomless.

thanks again for your post and don't be ashamed. we all made mistakes in the past. We live and learn from it. :wink:


lrhall41

Submitted by Cool_Abyss on Wed, 04/22/2009 - 06:46

( Posts: 2936 | Credits: )


Wow! Guest-appreciate your thoughts. Maybe become a member, to make more formal. As stated before, defaulting is not an option. I will not deal with the calls at work or to my references. My choice may not be that wise, but its exactly what it is...choice. If you search on the website, there are people who have pd them off with lump sums, double/triple payments. That will be the route I am taking. Trying to get myself out of this mess....not make it worse by defaulting.


lrhall41

Submitted by dental0828 on Wed, 04/22/2009 - 07:16

( Posts: 82 | Credits: )


EXACTLY!!! Thank you. Like I said, may not be wise. But, I can't and won't deal with the phone calls. With the job economy the way it is, not risking anything...I got a good job and I'm good at it. Not jeopardizing anything...even though it stinks..it is what it is. It's a issue now and until this is paid, but its not a forever issue.


lrhall41

Submitted by dental0828 on Wed, 04/22/2009 - 08:32

( Posts: 82 | Credits: )


I paid them off. They offered me a really good settlement that I was able to make payments on. I was actually surprised they offered me such a cheap way out. I think I owed like 2,700.00 and I got out for 1,200. I had been making payments for a year though and just became unable to pay.


lrhall41

Submitted by on Wed, 04/22/2009 - 12:34

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and since you joined a few days ago, that makes you an expert. It is my choice not to join. Aren't you all about choices. People here are very smart , and are just offering you a way out. No need to be or act better than everyone else.These people saved so many lives because posters took their advice.


lrhall41

Submitted by on Thu, 04/23/2009 - 04:07

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I agree! Totally! As there is a post that states defaulting is not good advice. Totally never said I was an expert...JUST MY CHOICE TO NOT DEFAULT. You took out the loan, you pay it back. Thats like saying..'I took out all these payday loans, do I have to pay them back?' DAH! I have taken alot of advice from people-I am on a better track for sure. Not here to judge when Im in the same boat as everyone else. I read these everyday for inspiration. I just cant default. I truly dont want to deal with the consequences of the calls. If there was a way to do that without the calls-I would so be there.


lrhall41

Submitted by dental0828 on Thu, 04/23/2009 - 06:09

( Posts: 82 | Credits: )


I agree! Totally! As there is a post that states defaulting is not good advice. Totally never said I was an expert...JUST MY CHOICE TO NOT DEFAULT. You took out the loan, you pay it back. Thats like saying..'I took out all these payday loans, do I have to pay them back?' DAH! I have taken alot of advice from people-I am on a better track for sure. Not here to judge when Im in the same boat as everyone else. I read these everyday for inspiration. I just cant default. I truly dont want to deal with the consequences of the calls. If there was a way to do that without the calls-I would so be there.


lrhall41

Submitted by dental0828 on Thu, 04/23/2009 - 06:09

( Posts: 82 | Credits: )


So two years ago I found myself in a situation desperately needing cash....
And what did I do?
I made the deal with the devil that so many of us have done.
I called cash call.

They offered me a loan of 2,500 for 250 / month. I really was in a horrible pinch, but even so - this deal was terrible. I mean, in 10 months time I would have used up the 2,500 just making my interest payments back to them. At the time I figured I would need about a year to save (without having to make 250 dollar monthly payments) in order to payback the 2,500. They did the classic close and said "let me see what I can do for you" and put me on hold. In a few minutes they came back and said "Your credit is good (660 or so at the time, average), my manager says that if you lock in today we will lend you 5,000 at the same payment."
... I bit.

The irony here is that I used to be a loan officer, and I had used tactics like this on multiple occasions in order to get the deal closed. I had never been on the receiving end of the phone conversation until this moment... I must tell you, it is NOT a comfortable place to be. I guess I got what I deserved. KARMA.

Anyways...

About a year later I wasn't able to keep up with my payments, my balance had RISEN to about 5,600 and I had made about 3,000 in payments so far. Very frustrating.

This was about the same time when mortgage loan modifications were booming, credit modifications were taking place every day, and cashcall offered to lower my payment to 159, add my delinquent balance to my principal and bring me current.

The only reason I was able to even look at this offer is because I 'manned up' and dealt with them. It was not easy speaking with them, and I must admit it was also not easy facing my financial problem head on.

I've been doing my best to keep money aside every month, and keep my expenses as low as possible, for the hope that one day I would catch up and be able to pay them off.

A few months ago, I was overwhelmed with my debt burden, had a panic attack and ended up in the hospital with an extremely high heart rate and high blood pressure, along with some hospital bills to boot.

Yesterday I finally went for it. I called and asked "What is my PAYOFF amount?" (different from my balance, as the payoff takes into consideration the accumulated daily interest). My payoff amount was $4,942.41.

I had managed to save $1,750 over the course of the last 12 months (appox. 145/month - which I would not have been able to do if they didn't lower my payment). And for the first time in two years, my paycheck of 1,400, my savings of 1,750 and a decent commission check put me just over $5,000 with enough left over to cover my expenses till payday.
...I went for it.

Today the electronic draft hit my bank account for $4,942.41 and I should be home free.

I never thought I would be so relieved to see my bank account get drained! Seriously... A great feeling.

I can't wait to receive my statement showing it is fully paid.

So for me, having a steady job was key. I also chose to keep money aside rather than paying additional dollars every month so as not to paint myself into a corner again.

Now it's on to negotiating with a few collection accounts.
Any tips?


lrhall41

Submitted by on Thu, 07/16/2009 - 08:28

( Posts: | Credits: )


So two years ago I found myself in a situation desperately needing cash....
And what did I do?
I made the deal with the devil that so many of us have done.
I called cash call.

They offered me a loan of 2,500 for 250 / month. I really was in a horrible pinch, but even so - this deal was terrible. I mean, in 10 months time I would have used up the 2,500 just making my interest payments back to them. At the time I figured I would need about a year to save (without having to make 250 dollar monthly payments) in order to payback the 2,500. They did the classic close and said "let me see what I can do for you" and put me on hold. In a few minutes they came back and said "Your credit is good (660 or so at the time, average), my manager says that if you lock in today we will lend you 5,000 at the same payment."
... I bit.

The irony here is that I used to be a loan officer, and I had used tactics like this on multiple occasions in order to get the deal closed. I had never been on the receiving end of the phone conversation until this moment... I must tell you, it is NOT a comfortable place to be. I guess I got what I deserved. KARMA.

Anyways...

About a year later I wasn't able to keep up with my payments, my balance had RISEN to about 5,600 and I had made about 3,000 in payments so far. Very frustrating.

This was about the same time when mortgage loan modifications were booming, credit modifications were taking place every day, and cashcall offered to lower my payment to 159, add my delinquent balance to my principal and bring me current.

The only reason I was able to even look at this offer is because I 'manned up' and dealt with them. It was not easy speaking with them, and I must admit it was also not easy facing my financial problem head on.

I've been doing my best to keep money aside every month, and keep my expenses as low as possible, for the hope that one day I would catch up and be able to pay them off.

A few months ago, I was overwhelmed with my debt burden, had a panic attack and ended up in the hospital with an extremely high heart rate and high blood pressure, along with some hospital bills to boot.

Yesterday I finally went for it. I called and asked "What is my PAYOFF amount?" (different from my balance, as the payoff takes into consideration the accumulated daily interest). My payoff amount was $4,942.41.

I had managed to save $1,750 over the course of the last 12 months (appox. 145/month - which I would not have been able to do if they didn't lower my payment). And for the first time in two years, my paycheck of 1,400, my savings of 1,750 and a decent commission check put me just over $5,000 with enough left over to cover my expenses till payday.
...I went for it.

Today the electronic draft hit my bank account for $4,942.41 and I should be home free.

I never thought I would be so relieved to see my bank account get drained! Seriously... A great feeling.

I can't wait to receive my statement showing it is fully paid.

So for me, having a steady job was key. I also chose to keep money aside rather than paying additional dollars every month so as not to paint myself into a corner again.

Now it's on to negotiating with a few collection accounts.
Any tips?


lrhall41

Submitted by on Thu, 07/16/2009 - 08:30

( Posts: | Credits: )