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Cash Call

Date: Thu, 09/02/2010 - 15:03

Submitted by anonymous
on Thu, 09/02/2010 - 15:03

Posts: 202330 Credits: [Donate]

Total Replies: 8


Any info on Cash Call?


Quote:

Originally Posted by paulcahill80
Be specific on what info you want about Cash Call. What do you want to know about them?




Are they legal in Florida?


lrhall41

Submitted by on Thu, 09/02/2010 - 15:44

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They are legal in Florida as they are backed by a bank. Look at this 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.


lrhall41

Submitted by paulcahill80 on Thu, 09/02/2010 - 16:13

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Quote:

Originally Posted by paulcahill80
They are legal in Florida as they are backed by a bank. Look at this 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.



Thank you very much.


lrhall41

Submitted by on Thu, 09/02/2010 - 16:22

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Quote:

Originally Posted by Anonymous
I had a loan with them at one time, and if you get behind on your payments, they are pretty nice about working a payment plan out for you.

ReallY? I need to talk to them about deferring a payment do you think they will help?


lrhall41

Submitted by on Sat, 09/04/2010 - 23:32

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