- Report: #532248
Complaint Review: CASH CALL - CashCall Inc. - Anaheim California
Reported By:
MG in Long Beach -
Long Beach, California, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
CASH CALL - CashCall Inc.
1600 S Douglass Rd Anaheim, 92806 California, United States of America
Phone:
Web:
www.cashcall.com
Categories:
Business Rating:
(0)
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CASH CALL - CashCall, Inc. RIPPED OFF, PAYING FOR A YEAR AND THE PAYOFF IS MORE THAN ORIG LOAN, Internet
I took out a loan in April and now after a year, the balance due from the original 2600 loan is 2509.07. The rest has all gone to Cash Call and I am still 30 months away from paying it off. I took out this loan as an emergency situation arose in my life and now I am chained to it because of their interest rate is 96%, HOW can this be legal??? Does anyone know how to deal with this or if there is any options? Oh and the pay off today amount they told me is more than the original loan 2716.45, how is that possible?
3 Updates & Rebuttals
sylver8248
murfreesboro,Tennessee,
U.S.A.
Not sarcastic...
#2Consumer Comment
Thu, December 03, 2009
My reply to your report was not meant to be sarcastic. I simply stated the hard facts of the situation. You are correct, I don't know you. But I do know what the terms of the loan are, based on Cash Call's website.
You agreed to the terms of the loan when you applied and accepted the money. I don't agree that the company should be able to loan money with that kind of APR, but it was your choice to do business with them.
You asked if it is legal, and the answer is yes.
You asked if there is any option, and the answer is: pay what you agreed to pay.
I'm sorry if you don't like my response.
MG in Long Beach
Long Beach,California,
United States of America
Gee thanks
#3Author of original report
Wed, December 02, 2009
I didnt ask for sarcasm and I didnt ask for your snide response, I asked a simple question but thanks for your humanity. You dont know anything about me so dont assume or you make an a*s out of you not me.
sylver8248
murfreesboro,Tennessee,
U.S.A.
Well...
#4Consumer Comment
Wed, December 02, 2009
I guess the interest rate didn't seem so "illegal" when you needed the money and they were willing to lend it to you (I'm guessing your credit isn't so great).
Straight from the website (for the state of California):
Loan Product $2,600
Loan Fee $75
Borrower Proceeds $2,525
APR 139.34%
Number of Payments 36
Payment Amount $298.94
So the total amount paid back would be: $10,761.84 (I figured this out in about two seconds, by multiplying the payment amount times 36).
Is it legal? Yes. Is it ethical? I would say, no. But no one forced you to take the loan, and now it is your responsibility to adhere to the contract and pay it back.
