Complaint Review: CashCall

I to was victimized by "CashCrooks", I noticed others on this site giving their opinion about how people should not take out loans if they are not responsible enough to repay them. Well, in a perfect world none of us would do things that we know aren't in our best interest including you critics!!  Get over it, it's done already.  The only advice you can give going forward is positive feed back instead of more crap!  I have the best solution for anyone who has been ripped off by Cashcall.  I just went to court yesterday 10/04/2010 and the judge granted a "motion to vacate" in my favor due to the illegal practices that this company used.  This is what I suggest; you obviously took out a loan with Cashcall because you had no other option and your credit was already in the dumps.

#1- "STOP" paying them!!  I did about 2 years ago.

#2- Send Cashcall a Cease and Desist letter, I have included a link to a sample letter.

http://www.bendover.com/adiosbottomfeeder.asp

#3- Once they receive this letter the ONLY way they can continue to contact you is through one final notice letting you know that they plan to take you to small claims court to sue you.  DO NOT be alarmed.  The law states that you can only be sued for $2500.00 maximum in small claims court.  You then have the opportunity to go to court and present the amount that you have already paid them versus the original loan amount.  This will automatically end the outrageous finance charge that they wanted you to pay.

#4- The judge will either have you pay the entire $2500.00 (in scheduled payments) or only hold you liable for the $2500.00 minus what you can prove you have already paid.  Example, I owed $2525.00 originally, I paid $653.03 leaving a balance of $1871.97 plus a $100.00 court fee that they asked the judge to make me pay.  Either way, all they receive is the original loan amount that you borrowed. 

You may be wondering if this will look bad on your credit, it doesn't hold any more value than a charge off or negative mark (which you probably already have) that will disappear in 7 years anyways!

Stop listening to negative critics on this site, I actually wonder who these people are, think about it; if Cashcall doesn't directly affect you then why would you be on this site giving your opinion UNLESS you are working for CashCall, get a life and good luck to all of the Cashcall victims!!!!

Without regard to the reasons...the bottom line is they agreed to lend you the money and you agreed to make payments when due. They are under no obligation to cut you any break although they did try to work with you with a defferal. Additionally you cannot be easily contacted as per your own admission. If the cannot contact a borrower who is not making payments on time then they try to contact that borrower at work or thru relatives, references etc. You can write to any entity you like but you are wasting your time. It is not illegal for a lender to use collections activities above. The only reason they spend their time doing this is because the borrower enabled them. There is no magic pill or program to resolve this. If you don't have enough money coming in then you need to increase it with a second job a part time job or start selling stuff you don't need.

1. THE BILL COLLECTORS ARE NOT PERMITTED UNDER FEDERAL AND SOME STATE LAWS TO HARASS YOU!

IF THEY WANT TO PLAY HARD BALL WITH YOU, YOU HAVE TO KNOW THE RULES. SO FAR, IT SEEMS THEY DO... AND YOU DON'T.

HERE IS THE WEBSITE WHERE YOU CAN GET YOUR COPY AND READ THEM OVER!

http://www.ftc.gov/pcb/edu/pubs/consumer/credit/cre27.pdf

If you do not have an Adobe reader on your computer here is another site that explains it in plain language:

http://www.ftc.gov/pcb/edu/pubs/consumer/credit/cre18.shtm

Remember to keep copies of all correspondence with the collection agency.

You need to tell them that you are not allowed to get telephone calls at work in writing.

Now, you need to go home and screen all of your calls on an answeriing machine or call the telephone company if you still have a landlline and have them change your number to an unlisted and unpulbished number. Tell whoever has to have your home phone number that it is a message phone to be used in the event of an emergency only and not to be give out.

Then, you should have some peace and quiet.

They'll except the late payment alright.

And I would talk to an attorney about the harassment.

DO NOT GET A PAYDAY LOAN. That is like taking a loan with the Mafia!

   When you do business with legalized loan sharks, that kind of treatment is par for the course.   The reason that they had you give references was so they would have someone to call and harass if you didn't pay. 

   These places make high interest loans to high risk borrowers.  You can't really complain much about the high interest, because that's what you agreed to when you borrowed the money.   If that's not enough of a downside, you're now experiencing the treatment that is common with these types of lenders when you don't pay.   They play hardball because the majority of their customers have poor track records in the debt repayment department.    It's unrealistic to expect them to be cheerful and accomodating when you don't pay as promised.