CashCall Ripoff --You may be desparate....but they are despicable Irvine California
We were desperate, I'll admit it. My husband is in sales and we were between jobs and needed cash to make ends meet. I knew that the interest was insanely high, but did not realize (and still, honestly cannot figure how they calculate it) that we would end up paying so much more in a couple of months than we actually borrowed. When I went to pay the loan off in a refi, they gave an inaccurate payoff amount to our new mortgage company. I mailed the check for the amount they had said was due. The odd thing is, I called on the 1st of the month and was told the check amount I was sending was more than what was due....and we should actually be getting a refund...now, today, a week later, I received a call and was told we owe $173. Because the check was not received until the 1st, they applied interest for another month...I think. I am so confused... The interest is somewhere around 82%. Unless it is a choice between Guido the Loan Shark and Cash Call, avoid this company at all costs!!!
Melanie
Anonymous, California
U.S.A.
1 Updates & Rebuttals
C
Tyngsboro,Massachusetts,
U.S.A.
yes, interest would be applied for another month
#2Consumer Comment
Fri, March 02, 2007
if your payment didn't get there by the 1st - if that is specified in your contract. For mortgages, you can get payoff amounts to the day, but if it isn't specified as a payoff, and you don't pay off the entire amount, they too will charge the full months interest.
At least the $173 balance will not accumulate much interest ($-wise).
"Unless it is a choice between Guido the Loan Shark and Cash Call, avoid this company at all costs!!!"
There are very limited circumstances for using this company - and you pointed one of those out.