Cash Call

Sam,here is some info on Paragon at http://www.debtconsolidationcare.com/forums/paragon-funding.html be sure and read all the posts,pretty interesting info on them.Have you sent 2 dv letters? I have done that,and also sent a follow up to my dv letters(not to Paragon,but another company)and haven't heard anything yet. Sometimes these places are not leggaly set to be collecting,that's why it's important to get them validated. Sometimes,they just re-sell it to another CA,or wait a while and contact you again.Good Luck,keep us posted...Karen

Cash Call is great for getting you money really quick...but they charge such high interest rates, it's scary! I took out a loan from them more than a year ago, and I've been paying them $199.02 a month since then and have only paid down about $50 in interest...you do the math! Of course, you can always pay additional money to them every month and pay less in interest, but I have unfortunately not been in the position to do so.

I had to default this month for a couple of reasons, and they've been pretty nice to deal with, but by and large, if you can avoid them, I would.

Hope that kinda answers your question.

They are probably nice because they have taken you for what looks to be about $2,000. How much was the original loan for? That is just a little more than excessive to be paying back that kind of money. WOW!

Sam62

I would put an end to Cash Calls Cash Cow!

The principle amount was $2600. The apr on this thing is in the neighborhood of 90%! Ouch!!!

I'd like to help my friend put an end to them but I don't know if we can handle it the same way as the pdls. She wants to pay the principal, been paying a year and that is only the interest being paid. I just don't know what to do to help her. Any ideas?

I apologize, I can't get it in my head that this company isn't a pdl, I've never heard of these types of loans where I'm from, pdls are bad enough.

Cash Call offers a form of "alternate product" that many banks got into after the FDIC forced them out of the payday loan industry. The terms are longer and the amounts lent are higher than what most legal schemes recognize as a payday loan (or "deferred presentment" transaction for our friends from California).

Because a bank is involved in most (but not all) of Cash Call's loans, certain arguments that can be raised towards payday lenders are trumped by federal law. In addition, the larger amounts at stake mean the bank is less likely to charge the loan off without some effort at collecting it. I'm not suggesting they can't be dealt with - traditional debt settlement companies and law firms deal with them all say long. But the strategy needs to be adjusted accordingly.

Sam62, I too have been dealing with CashCall and it is ridiculous I know. Pm me for details on how I've recently dealt with them. Pauli's Girl

Ok all of you in Las Vegas, Cash Call is expanding there in November. Please do not fall victim to the high interest rate loans that they provide.

They are advertising on TV here to. I called and informed AG today. There interest will not be allowed here. KYSIDE38

I will tell you they would not deal with my consolidation company, until I went through their (I can't remember what they called it) deal, claiming my hardship and explaining all my finances to them. Then they reduced my interest rate and my payment to them, however the interest rate is still a KILLER! but it is a lot lower than there &#$(%^* original rate of what 97%...What an idiot I was for signing that contract, Top Ramen for a year would've been better. I too have paid back my principal and am personally glad I didn't qualify for more than the $2600.00

OMG!! I just seen the commercial on tv for Cash Call!! These people really do pray on people that are in a deseparate situation for money.

This is just outrageous.

To me, it's a glorified PDL. Don't do it. If it walks like a duck and talks like a duck...

I agree with you there. I see them advertising here on the tv more and more.

I'll say it one more time to anyone considering this as an option, It is NOT an option, don't do it. I fell behind, and they were about to the point of taking me to court, however, I just happened on a nice collector (I never thought I'd say that:) who gave me the 2 extra weeks I needed to catch up. I am still a little behind, but they aren't so ruthless. They will call you every hour unless you answer the phone and speak to them and then they may still even call multiple times in one day. DON'T DO IT!!!

Cash Call is taking me to court in a few weeks for a 2600.00 loan. I don't know what to expect or what I should be ready to explain. Anyone gone through this yet.

David, how far behind are you to get to that point, I was 60+ at one point and actually worked with them to bring it to the point that I am only a couple weeks past due with them right now. Based on what I know if they are taking you to court for $2600 you have completely already paid that much in interest if not more than that amount in interest. Have that information ready for the judge..be sure to tell the judge just how much your loan amount was for and EXACTLY how much you have already pain in interest fees. Be prepared explain to them the situation that got you to the point that you would agree to such a high interest loan, and what has caused you to default on such a loan. Good luck, Keep me informed.

THe amount of interest this company charges should be illegal! They are just putting people who are in a bind in a bigger bind..By them time you pay off one of their 5000 loans, you could have gotten a college degree for the amount of money it has costs you!

Leah, The interest rate is practically 100% interest, that is why I advised david6 to find out exactly how much he has paid in interest, believing that hopefully a judge will take into consideration the amount of the loan, and the amount of interest has been paid is equal to the loan, and perhaps just make a more reasonable decision, even if it means lowering the interest rate to something more humane. I know we signed the contract agreeing to pay that, however, at the time of signing most people are in such need that they figure the quick $ will help them and they will be able to consolidate and pay back without a problem, but life always has a way of blindsiding you when you don't expect it and getting behind is very easy. Cash Call collectors, do not give up either..they will call every hour at least once if not more than that in an hour. I've actually told them that I would be paying in a week and had the collector there tell me that was not good enough. I cursed him and hung up, ignored the calls and made the payment in a week when I said I was...I don't recommned doing this-so don't take this advice readers-I was just pissed at the continuous phone calls and he got me on a very bad day.

This just sounds like a high end Payday loan to be honest....I cannot believe they can get away with that

Did you how Langhorne explained it earlier in this thread? I talked to him about my CashCall loan, he was willing to try to deal with it, but couldn't guarantee he could get them to settle for anything less like the pdl's he deals with. I think he was happier when I decided to deal with it myself as they are not a traditional pdl which is where his experience is at.

unfortunately I have a loan with CashCall, Due to illness in my family and medical treatments, I fell behind in payments. I have been making an additional 50.00 a month on top of a 220.00 pamyent to try and get caught up. My payments are 216.00. I have been making a valent effort and answering the phone calls and returning the phone calls. I have been making the payments every month on the 15th, which I did this month on the 16th. I just received a call today from someone who said that the file had been sent to him for review. He said if I made another 102.00 payment that he might be able to get me into another program to help me. I told him that unfortunately I was not able to do that. He told me that he was sorry but he was going to mark it as a refussal to pay and have my file elevated to the next level for ligiation. I am due for 1/2 of April and May. Even though I am making an attempt to correct this and not dodging them, can they take it to the next level? I told the gentelmen that I am not refussing to pay I just don't have the money to do so now.

What other program did he offer you? Did he offer to drop the outrageous intrest rate?

I saw those sickening commercials on TV here tonight. Gary Coleman advertising for them. They will not lend money in WV or so I am told. I wouldnt care to bet they have somewhere. KYSIDE38

Clara, have you talked to anyone about making the arrangements, I actually had some success with getting my payments & interest rate lowered(a little) due to hardship. From what I can tell, they will litigate the late payors in small claims so you should talk to them and see if there is anything else they can do for you can do other than another payment this month. I believe they begin the litigation process when your account is past due by 60 days, I can't be sure though, this is just my experience from hearing what their collectors say. Some of their collectors are extremely rude, pushing the line of the Fair Debt Collection rules, but not going over. They are very agressive. Good Luck, Pauli's Girl

The gentlemen did not offer anything other than I needed to make this additional payment and then maybe they could get me into another program. I told him that I am not dodgeing I am trying my best to correct this, he said oh I see that you are definately returning calls and answering the phone when we call, you have taken it upon your self to add the additional 50.00 a month to help this. Ok so if he can see this why the extreme hardball? The last couple of collectors before him had said that the 50.00 a month would get me caught up sooner than later.

He sounds like a reall a$$ for being that way. I mean if it shows that you are making an effort, I don't know why he would be that way. I would call them and try to talk to someone other than him and if you do not get satisfactory answers, ask for a supervisor and so on and so on until you can get answers.

I took a loan out from these bad bad people, couldn't keep up the payments and I think my interest was like 423% I figured I could just pay it off when I got my tax return, but ya it didn't happen that way and now its charged off on my credit report and I got a letter from some collection agency wanting payment now...

So, if you default on your loan and you live in PA where PDLs are illegal, can they still collect?

I don't think Cash Call is a pdl. I think it's more of an installment loan. At least that's the idea I've gotten from reading about Cash Call on the forum. And if I remember correctly, they're backed by a bank? Am I correct in this? If that's the situation, I don't think it can be treated as a pdl?

Correct, cash call is not a pdl and backed by a bank. they have taken people to civil court for judgement. I believe somebody posted that if you take out a $5,000 loan you end up paying $22,000 for it when all is said and done in the end.

my sister used them and never paid. All theycan do is send to credit. They have now sent her an option to pay less than half

they told my husband they would take him to get his wages granished .if he didnt pay them needless to say we are saving to have them paid off soon.

sorry for typos. 3year old sitting on my lap

If the loan is backed by the bank and you have a big chunk to put down on the principle can't you do this?

The loans are backed by "investors" I don't know how accurate any of us are since "guest" says they can only send you to credit and another says they will garnish. They are still hounding me, since I am 60 days behind, but I make a payment every payday and so they just start over with my aging of past due. It is good to hear that they will only turn you over to collections (if it's true)but I am wondering what a judge would actually say if they took you to court cause they are preying on people that are down on their luck and credit by charging astronomical interest rates. I can tell you I have paid off my principal plus, so I think that it may be actually a plus that the principal is paid. Can a judge actually reduce the interest rate I wonder?

I'm certainly no expert here. But, in the case of the question above, why do I doubt it? Apparently this company is abiding by the law (unfortunately) and they take people to court to sue them, etc. If there was some "good thing" going on regarding them, I don't think so many people would be on here trying to find a way out. It doesn't seem like there is one. Sad.

i am in pa i am the guest above that said about
wage granishment. i dont think they can take my
husbands wages cause pa they cant .unless
its taxes or child support.i could be wrong
as i just found this out.


chris

Just to reiterate what I have said all along, DO NOT EVER take a loan with them...Wish I hadn't.

Is PA a non-garnishment state?

yeah pa is a non-garnishment state. they only do
that if it is back taxes or child support. from
what i read.

chris

I'm from SC and I know that we are a non-garnishment state, as well. Only child support, taxes, or student loans may be garnished from our wages. It probably depends on what state you are in as to how far cash call will take it. But, it would suck royally if a judge actually allowed them to garnish wages in states in which it is allowed. They are predators and all consumers should be protected from them. (Just my humble opinion)

Well, from what I'm thinking (and I certainly could be wrong!!), if you're in a non-garnishment state, I wouldn't think they could garnish your wages! If that's so, that's a good thing! :D

With cash call, who knows! I have heard horror stories about them. I can only envision the mafia or some sort of mean and terrifying characters ready to "bust some kneecaps" when I think of them :-)

I wouldn't exactly say mafia, but loan shark does come to mind. The collectors border on harassment and just push the laws that are put into place to protect consumers from vicious collection intimidation tactics. The best advise I can give anyone dealing with them is just to keep telling them the same thing that you told them the previous time you talked to them, make your payments and if you do fall behind pay when you say you are going to pay...it doesn't mean that they will stop calling you, but if for some reason it does end up in front of a judge I think you have a better leg to stand on than if you hadn't been making any kind of effort.

Absolutely. I think that something is better than nothing and I can't imagine a judge enforcing a wage garnishment when a person has made an effort to pay and they refuse it.

or the person is making an effort and they are accepting the payments!

If payment is being accepted, than that legally implies that they are willing to work with you while the payments are being made. They legally can not seek a judgement if they are cooperating with incoming payments. They would first need to cease taking any payments to seek a judgement.

Just be sure to save all documentation of made payments.