Has anyone inthis forum been

I personally have not had any dealings with CashCall, but have you talked to them and explained what you are doing as far as doing a debt consolidation? At least this way, they would have a heads up as to what is going on and why you have not paid them.

If youi have been a good customer, they might be willing to work with you on this.

Thing is, the courts only care if you owe - Not if you've been working with a debt settlement company. The only issue before the judge is if you legally owe. So going before a judge wouldn't help the situation.

One thing about places like Cash Call - They will wait for a while to sue you. Once they sue, the interest rate is set per your state laws on judgements. So they will wait for months before suing so that the fat interest of 99% can accrue and make your balance outrageous.

I have dealt with Cash Call...evil people!! I got a loan, from them, alomost 2 years ago, now. My hours decreased at work and just couldn't pay them what they asked each month. They sent me e-mails and called a ZILLION times a day. FINALLY...when they figured out I JUST couldn't pay ( and I din't), they 'sold' my account with a CA. Cash Call will tell you they don't " deal with consoladation or settlement companies." However....I know people who have used such companies for Cash Call. They threaten to sue....however........from my experience, they couldn't because of the illegal high % rate they charge. PLEASE...tell me of any OTHER issues you may have, with them. I'll help you out with ALL I know.

They can sue - Their interest rates are not illegal because they are backed by an FDIC Insured bank and federal law allows them to import their home state's interest rate, which is DE and has no interest rate cap. They sold off a bunch of their accounts a few months back because they had some temprary cash flow problems. They are back up and running again at full speed, and I wouldn't count on them selling accounts off to a CA anytime soon . . . . That was a great break for all those it happened to, but it doesn't happen every time.

I ALSO want to add.yes, it IS possible they will sue you.....HOWEVER........they can sue you for ONLY the % rate in the state where you live OR the state that Cash Call is...which IS NOT 99%. Cash Call is in 'money trouble' again. They were for a while and then 'came out of it.' NOW.....same thing......'money trouble. I don't see ads for them anymore. They try to scare you...don't let that happen. They will try and give you a "great deal" on your loan..don't take it!! Let me know what happens.

I've been sued by Cash Call. Your state's interest rate only comes into play after the judgement is issued. Which means from that point on they can only collect your state's cap on judgements. What they do is wait for months so that they can charge their interest, let the balance ballon up, then sue you to collect.

They still advertise all the time where I live . . . . I see them almost every commercial break, and my state has recently really cracked down on these types of companies. But since they are backed by a bank, they are 100% legal. :twisted:

Well, I got off me behind today after making an
inquirey into this forum and actually called Cashcall
and to my surprised they worked out a re-payment for
me.All I needed to do was come up with January's pay-
ment,which I money gramed to them and then come up
with February's payment by the 6th of March and I will
be "caught up".They also said that I could get into
a repayment program to break up March's payment.I don't know if I will do the payment program cause I'd
like to start paying these guys off as fast as I can.
Bottom line is I took your advice and called them.Believe me I was scared to death that I would
have to owe them thousands in order to straighten this
out.I don't knowif they have softened up or I just got
lucky and them on a good day.Again thanks to this
forum I was able to take care of something on my own
and get it straight.

That is great - Cash Call can be awful . . . . Pay them off and get them off your back!

Just to comment Cashcall is advertising like crazy
here in central Florida.I don't know what that means
as far as them having money but I tell you I'd like
to throw something at the tv everytime their stupid
add comes on.Obviously I don't cause I'd have to go
and buy a new tv.

Thanks for the response, Goudah........wow....how horrible. Did you have to pay back ALL of that %? How can that high % rate be legal? I don't get it.

I wish I lived in your state SD - I'd love to not see their commercials. I realized something watching tv last night - They used to only advertise during daytime tv - like court shows and talk shows. Now they are advertising on MTV and VH1 during prime time! Ugggh!!! Trying to reach the younger people. Makes me sick!

SD - It's legal because of federal law. They wanted to make it easier for FDIC insured banks to do business in any state. So they made a law saying that an FDIC insured bank only has to be licensed in it's home state, and when doing business in other states they can use the laws of their home state.

So in this case, the bank is First Bank of DE. DE has no interest rate caps. There is no legal limit to what they could charge you. That's why DE is such a haven for banks and credit card companies. The actual lender is not Cash Call, but 1st Bank of DE, so they have the federal protection as far as the interest rate goes.

But - Cash Call is the actual lender in 5 or 6 states. But those states have very friendly laws to them, and allow them to charge what they do. Cash Call only uses the backing of the bank in states that aren't so friendly.

I do want to note that my experience with them was from a couple years back. SD's is more recent . . . . When I defualted my balance was like $2000 (give or take). They sued me 8 months later for $4000 (interest plus court costs, atty fees, etc). I went to court, where they make you sit in a room with the mediator and the creditor, and try to work out a payment plan. The mediator didn't even blink when I told her about the interest rate. It was of no concern to her! :twisted: I had to agree to their extremely high payment plan, or have a judgement against me right then. The way the payment plan worked, if I was even 1 day late, a judgement would automatically be entered against me, and then Cash Call could proceed with garnishment or whatever they wanted to do to collect.

Glad to hear that things worked out for you. Hang in there though!!