When I was told that I needed major surgery I found myself in a financial crisis. I did not have the funds needed for the deductible or the co-pay necessary to go forward. Although I had medical insurance I didn't want to have this bill hanging over my head; because possibly I would need further surgery.
In 2006 I saw a TVad for Cash Call and decided to give them a call. They were willing to loan me $5,000.00 immediately. I told them that I needed to give it some thought but the phone didn't stop ringing until I went forward with the loan. When I asked what the interest rate was they avoided telling me and before I knew it I had the funds.
I made payments of $250.00 each month for over 2 years without ever being late. On 7/28/08 I was laid off unexpectedly. I worked in the mortgage industry and my company decided to move portions of the company to the east coast where it could operate cheaper. I made my payment in August but when September came around I was unable to make the payment on the due date. The day the funds were not available the calls started. They called me 10 times in one day on each of my phones; that is 20 phone calls in one day. When I explained to them the situation they told me "it is not our problem and you need to wire the payment immediately or it looks like they are going to make the loan due and payable in full immediately" When I ask them what the payoff was they told me $5,000.35. They told me that in September I began to start paying on the principal after 2 plus years of payments. That makes the interest rate at 100%. I thought this can't be right!
I borrowered the payment from a friend and wired the funds. When the payment came due for October they debited my bank account again even though I had told them the funds were not available and that I would have to wire the funds to them from now on when I got my unemployment check. They have continued to debit my account to the point it has cost me over $500.00 in fees and jeopardized my credit with my bank.
I have read many complaints on this company and definately think I have been taken advantage of as many others. With our economy in such a state I feel it is time for the consumer to take a stand. Big corporate america can't keep taking advantage of the consumer in such a way and not pay the price.
I want to join in with other individuals in a Class Action Law Suit against this company. However, what can be done in the meantime to avoid the harrassment they are performing?
Donna
Huntington Beach, California
U.S.A.
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