John
MARSHALL,#2Consumer Suggestion
Mon, November 26, 2007
Arbitration court with Cash Call?? Never heard of that before.......what are you arbitrating?? By your own admission, you borrowed the money, so whats the arbitration for?? You found out that the repayment was going to be a little over 4 times the loan amount, which is pretty standard for Cash Call, something like 99% interest....did you not understand that when you signed off on the loan?? Cash Call only works if you are coming into a winning lottery ticket or an inheritance or some type of cash windfall wherein you can pay it back in a week or so.......they BLOW!!
Jim
Anaheim,#3Consumer Comment
Mon, November 26, 2007
I don't know how you'll do in arbitration, but if you're going to protest the amount of what you have to pay back - then you're going to lose. They make it quite clear on their website and in their paperwork that the amount loaned is done at an interest rate exceeding 90%. It sounds like you got their standard $2,500 loan. If you lose the case, you need to do what you can to pay that back sooner than the payments will allow. If you can pay it back sooner, it will cost you less than $9,000 (that figure is if you pay the standard monthly amount all the way to the end of the term) to do that. It won't cost you $9,000 to pay the loan amount now (unless you got more than the standard $2,500 loan), but it will if you wait. If you want to put them out of business - then you've started and keep telling people not to use them for a money source. You learned the hard way why you don't go to a place like this......