logo

Debtconsolidationcare.com - the USA consumer forum

Letter from CashCall

Date: Thu, 06/21/2012 - 13:52

Submitted by agoode
on Thu, 06/21/2012 - 13:52

Posts: Credits: [Donate]

Total Replies: 9


I did the wrong thing at one time, needed money, and used Western Sky to get it. I took the loan out for $2600 about September of 2011. I was making payments until march, which by then, I paid $1519.49. My loan was of course sold off to Cash Call after the first payment. I got a few calls about the amount due for like 2 weeks after I failed to send in a payment in March, and nothing since. I keep getting letters every couple of months with them trying to modify my loan agreement, and making me pay a little less, but not much. Today I received a letter that says.
Dear
This is your opportunity to save up to approximately $10,589.20 on your CashCall loan. Currently, you have 43 monthly payments of $294.46 remaining on your loan, which adds u[ to $12,661.78. We want to resolve this matter as quickly as possible and avoid further action, so we are proposing the following settlement offer:
One lump sum of $2,072, due and payable on or before June 29, 2012. This is a 20% reduction of your current principal balance and would result in a savings of approximately $10,589.20
Or:
8 payments of $323.84, beginning June 29, 2012 and continuing on the 15th of each consecutive month. This would result in a savings of approximately $10,071.06
I was wanting to get some peoples opinions now. What further action, if any, would be taken by these dirty people. Given the fact that many assume I should just pay them the principal balance, and no more, that would be just 1080.51. Now, I don't really feel that I owe them anymore, since finding out how corrupt these things are. I wouldn't mind paying them back the rest of the balance, which would be 1080.51 or even settle on an amount less then that.
What should I do here guys? Should I just keep not making payments until they settle further, but then I don't want that further action to be bad. Or should I send a letter of my own, back with a copy of this one, and try to negotiate a settlement myself.
Any ideas on what to do?
Thanks.


There's no negotiation. You respond to their letter stating "Since you are an illegal, tribal lender, the contract I signed is unenforceable, and I technically owe you nothing, here's what I will do. I will repay the principal balance of the loan, which is $1080.51. I will repay it in the following manner..."

Then tell them your terms and be done with it.

If they won't comply, pay them nothing.


lrhall41

Submitted by OhioGal1 on Thu, 06/21/2012 - 13:58

( Posts: 5253 | Credits: )


I dealt with Cash Call, too. They are horrible to deal with. They threatened to come to my home and take everything I had that equaled up to my loan, etc. First of all, I DID read information on Western Sky/Cash Call. You obtained the loan from Western Sky..not Cash Call. So,...............the contract is no longer valid. You don't owe them anything.


lrhall41

Submitted by sdchargers_63 on Fri, 06/22/2012 - 06:04

( Posts: 1798 | Credits: )


"..Dismissed without prejudice?" WOW!! I guess Cash Call doesn't get everything they want, do they? Cash Call is not legit to do business. They don't even call themselves 'CashCall' anymore.


lrhall41

Submitted by sdchargers_63 on Sun, 06/24/2012 - 06:49

( Posts: 1798 | Credits: )