Steve
Bradenton,#2Consumer Comment
Wed, May 09, 2007
Well, something must have changed in the past few years regarding maximum allowable interest rates. I guess what I was talking about only applies to credit cards. However, it must be legal, as they would be shut down if it was not. My suggestion is to lobby your lawmakers in the revision of existing usery laws. This looks like legal loan sharking to me! Bobby, I hope you accept my apology.
Steve
Bradenton,#3Consumer Suggestion
Wed, May 09, 2007
Someone needs to learn how to do basic math. I can absolutely guarantee that loan is not at 79% APR. I have seen these contracts and they always identify the exact APR as well as the amount the credit will cost you overall. This may be where you are getting 79%. That is NOT the rate. When you talk loan rate, it is always APR. This is mandated by federal law, and a truth in lending statement must be provided to you to read and sign. The problem is, people never read what they sign! My question is, if you didn't like the rate, WHY did you take the loan? I think you should send your TIL statement to ED here at ROR for him to post. Just black out your last name, address and SS# first. I can't wait to see this. ps. This company and others like it pay a team of lawyers to ensure legal compliance. I agree they are unethical and immoral, but not illegal. When I was in the mortgage business I saw dozens of these contracts that people were trying to get out from under. Even with a high risk mortgage with a subprime lender at 15%, I saved them 50% plus on the payoff of that loan.
Bobby
South Pittsburg,#4Consumer Comment
Mon, May 07, 2007
You said a 5k loan at 79%... are you referring to the financed rate?...If so thats not legal anywhere in the U.S. Also the finance rate has to be revealed to the consumer or customer BEFORE or during the loan process.. CashCall are predatory lenders, or a better word for it, "scum". And that includes the folks working to get you the loans. I dont pull punches when it comes to so-called lenders that prey on people. Its happened to me in the past, and will not happen again. I really feel for those efected by these rip-off artists protected by our government. But if you will contact each person that has filed a report, or spend a little time researching the other good people who have been maliciously preyed upon by this company, file a class action lawsuit as predatory lending, you will find that CashCall willing to deal. Make a call to CashCall, tell them what you intend to do and follow through,again you will find these scum of the earth willing to deal with you. As far as the legal actions they are willing to take, they have to go to court in order to get any judgement and to be able to garnish wages. By all means go to court, tell the judge what the percentage is, if indeed it is as high as you say. Give the court your paly by play.. so to speak of the actual loan process. No judge or court will allow a lender to have such high interest rates. You can also contact your states agencies that regulate the rules, laws, and lending practices that govern financial institutions, i live in Tn....so ours is called Tn. Dept. Of Financial Institutions. Make a complaint on predatory lending, give them your story and they will take it from there, asking you to submit your loan documents and proof. Ask for an investigation of the lenders practices and rates. Its takes a bit of time, but this will also stall any court preceedings, or at least give you some leverage in court, when heard, you can submit the corresponding paperwork between you and the states financial institution. Also get the press involved, this will better your chances and bring more people forward with complaints just like yours, making your case all the more powerful. From there you will find attorney's jumping to take your case. Be diligent and get as much info as possible. CashCall is not as big a company as you would like to think. But they have learned how to manipulate the law to make it work. Even a bad attorney couldnt lose if and when a class action lawsuit is presented. Good luck and i hope you find yourself in much better circumstances very soon.
Heather
Beaverton,#5Consumer Suggestion
Fri, May 04, 2007
This is a consumer loan, I am not saying Bk is the right thing for anyone but you can file Bk on any consumer loan. The only thing you can not file on is state, county or city fines and student loans (basically anything to do with the government). I filed BK myself. If you ever have questions about that call a BK attorney. Now for the court action..... They can garnish your wages and levy your bank account. If you make them a reasonable offer for repayment (most states is no less than $25.00 per month) most of the time will stop litigation. They cannot however refuse a repayment plan as long as it is reasonable but you have to make the payments on time.
Theresa
Garden Grove,,#6Consumer Suggestion
Thu, March 22, 2007
CASH CALL SUES IN LIMITED COURT. YOU CAN SEE WHAT THERE DOING IN YOUR COUNTY. MOST PEOPLE WHO DO GET JUDGMENTS NEVER ANSWER AND GET A JUDGMENT EASILY 6 MONTHS LATER. THE FEW WHO HAVE FOUGHT I HAVE NOTICED NOT ONLY DELAYED FOR A YEAR BUT ALSO DISMISSED. TRY AND PAY PRINICPAL ONLY AND THAT IT. IF YOU HAVE GIVEN THEM THAT THEN FIGHT THE INTERST IN COURT.
Theresa
Garden Grove,,#7Consumer Suggestion
Thu, March 22, 2007
CASH CALL SUES IN LIMITED COURT. YOU CAN SEE WHAT THERE DOING IN YOUR COUNTY. MOST PEOPLE WHO DO GET JUDGMENTS NEVER ANSWER AND GET A JUDGMENT EASILY 6 MONTHS LATER. THE FEW WHO HAVE FOUGHT I HAVE NOTICED NOT ONLY DELAYED FOR A YEAR BUT ALSO DISMISSED. TRY AND PAY PRINICPAL ONLY AND THAT IT. IF YOU HAVE GIVEN THEM THAT THEN FIGHT THE INTERST IN COURT.
Theresa
Garden Grove,,#8Consumer Suggestion
Thu, March 22, 2007
CASH CALL SUES IN LIMITED COURT. YOU CAN SEE WHAT THERE DOING IN YOUR COUNTY. MOST PEOPLE WHO DO GET JUDGMENTS NEVER ANSWER AND GET A JUDGMENT EASILY 6 MONTHS LATER. THE FEW WHO HAVE FOUGHT I HAVE NOTICED NOT ONLY DELAYED FOR A YEAR BUT ALSO DISMISSED. TRY AND PAY PRINICPAL ONLY AND THAT IT. IF YOU HAVE GIVEN THEM THAT THEN FIGHT THE INTERST IN COURT.
Theresa
Garden Grove,,#9Consumer Suggestion
Thu, March 22, 2007
CASH CALL SUES IN LIMITED COURT. YOU CAN SEE WHAT THERE DOING IN YOUR COUNTY. MOST PEOPLE WHO DO GET JUDGMENTS NEVER ANSWER AND GET A JUDGMENT EASILY 6 MONTHS LATER. THE FEW WHO HAVE FOUGHT I HAVE NOTICED NOT ONLY DELAYED FOR A YEAR BUT ALSO DISMISSED. TRY AND PAY PRINICPAL ONLY AND THAT IT. IF YOU HAVE GIVEN THEM THAT THEN FIGHT THE INTERST IN COURT.