Cash Call Questions
Date: Tue, 09/25/2012 - 12:40
[COLOR=black]This community has been a great help to me in the past and as a result I am in a much better financial situation. I have two questions I was hoping I could get help with in regards to Cash Call. [/COLOR]
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[COLOR=black]About two months ago I followed the directions I received here and closed my bank account and sent letters out to all the illegal lenders. Shortly before I closed my account there was unauthorized ACH withdrawal from a payday loan company that said I applied for an advance with them. I did not. I ended up filling an affidavit with my bank to receive a refund for the unauthorized withdrawal. Now, I specifically said please don't deposit the refund into the account I just closed. They did so, right in time for cash call to make a withdrawal for -150 on my old account. I received an nsf charge which they just waived. However in order to cover the 150 my bank transferred it from the new checking account I opened up. Is there anything I can do to get the bank to give me that money back? My argument is that my old account should not have been open in the first place but I've made no ground with them after calling multiple times and going in to the branch. [/COLOR]
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[COLOR=black]My second question is to what extent Cash call will affect my credit. I've received emails saying they will hand it over to 3rd party collection agency that will adversely affect my credit. The reason I ask is because I paid off a cash call loan before in full and it was on my credit report.[/COLOR]
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[COLOR=black]Thanks for the help sorry this is so long![/COLOR]
Register to the forum if possible! With regard to your first qu
Register to the forum if possible!
With regard to your first question, it looks like your bank linked your accounts. Whether or not you can get that 150 back is dependent on filing an ACH reversal. You would have to go through the same process of filing an affadavit with the bank, or you might be able to pay a stop payment fee of 25-35 dollars to get the 150 back. You'd make a large net gain if you did it that way... but whether that's worth it I can't say till you provide more info, namely is this a Western Sky originated loan? What was the loan amount? (i.e. what was DEPOSITED to your bank account, not the 'principal balance'). How much have you paid so far?
With regards to reporting to your credit, cashcall does report western sky loans to the bureaus which is illegal on their part.
Thanks for the response! I'll register to the forums right after
Thanks for the response! I'll register to the forums right after this.
Yes, the loan was originated through Western Sky. They deposited $500 into my account and I have paid $781.53 actually $932.25 counting the last payment that my bank covered on the old account and then charged me for.
Is there any way for me to protect against them reporting it to the bureaus?
Not really, no. If I were you I would email them stating that in
Not really, no. If I were you I would email them stating that in order for you not to request that your bank reverse any transactions over the 500 dollar principal, you need a paid in full and a statement that they will not report to the bureaus. Email elissa chavez [email]elissa.chavez@cashcall.com[/email] or you can call her, if you want her number send me a personal message.
Woah, once again. Thanks for providing me with an email address.
Woah, once again. Thanks for providing me with an email address.
I will send an email stating exactly that but I'm doubtful that I will receive a refund based off the response or rather lack there of from other illegal lenders. Do you have any advice in regards to getting the money back from my bank if the email to cash call doesn't work?
Thanks
Yes; call your bank's claims intake center and state that they a
Yes; call your bank's claims intake center and state that they are taking more than what is owed and are not following the law.
The best bet at this point is to get cashcall to send you a paid in full. If you threaten them with reversing the ACHs over the principal they will probably do that.
Thanks for all your help! I may reach out to you in the future t
Thanks for all your help! I may reach out to you in the future to deal with cash call if that's okay.