CASHCALL ANAHIEM, FOUNTAIN VALLEY, California. & LAS VEGAS NEVADA ripoff ruined credit anaheim, California

If your credit score was 700 why did you use CashCall for a loan? You should have been able to get a loan with a much better interest rate at any bank.

When you applied for the loan their website shows the amount and number of payments and the total you will pay back for each loan amount. This is also on your contrct. Did you bother to look at this information?

Since you signed for the loan and accepted the money then you are liable to pay the loan back. By cancelling the automatic payments you were in violation of the loan agreement. By then changing your phone number and not allowing them to contact you, you basically were saying I'm not going to live up to my agreement and repay the loan. Why are you surprised that they reported you to the credit bureaus?

By the way, do you know they can take you to court and win a judgement against you. This would allow them to either garnishee your wages or place a garnishment on your bank account. It'd be best for you to contact them and try to work something out.

No, I have never have worked for them. But I can read their website to see hw much someone has to repay when accepting one of their loans and I do know it's best to fulfill any and all contracts you sign.

You have no case.  The end result will always be that you borrowed the money.  By law, Cashcall must disclose to the borrower, you, the interest rate you are borrowing at, and the full amount you will pay back if you take the entire loan period to return their investment.  THe APR is 96% for a loan of that size, if my memory serves me.  You signed the contract, you are liable for the full amount.

Does Cashcall use extreme collection practices? Certainly.  Do they cross the line and violate the FDCPA? Probably.  Do you still owe this loan?  Absolutely.  They have the right to try collecting on the debt, if that doesn't work, they can report your delinquency to the three big agencies, Trans Union, Equifax and Experion, they can even sue you for the balance owed.  That is within their rights.

You have rights, too, but ducking out on the loan is not one of them.  Look up your rights online, find a copy of the FDCPA.  If you're going to fight back, fight back intelligently.  No court in the country will overturn a legal binding contract like the one you signed just because you were too dumb to read it first.

Good luck!

I to was victimized by "CashCrooks", I noticed others on this site giving their opinion about how people should not take out loans if they are not responsible enough to repay them. Well, in a perfect world none of us would do things that we know aren't in our best interest including you critics!!  Get over it, it's done already.  The only advice you can give going forward is positive feed back instead of more crap!  I have the best solution for anyone who has been ripped off by Cashcall.  I just went to court yesterday 10/04/2010 and the judge granted a "motion to vacate" in my favor due to the illegal practices that this company used.  This is what I suggest; you obviously took out a loan with Cashcall because you had no other option and your credit was already in the dumps.

#1- "STOP" paying them!!  I did about 2 years ago.

#2- Send Cashcall a Cease and Desist letter, I have included a link to a sample letter.

http://www.bendover.com/adiosbottomfeeder.asp

#3- Once they receive this letter the ONLY way they can continue to contact you is through one final notice letting you know that they plan to take you to small claims court to sue you.  DO NOT be alarmed.  The law states that you can only be sued for $2500.00 maximum in small claims court.  You then have the opportunity to go to court and present the amount that you have already paid them versus the original loan amount.  This will automatically end the outrageous finance charge that they wanted you to pay.

#4- The judge will either have you pay the entire $2500.00 (in scheduled payments) or only hold you liable for the $2500.00 minus what you can prove you have already paid.  Example, I owed $2525.00 originally, I paid $653.03 leaving a balance of $1871.97 plus a $100.00 court fee that they asked the judge to make me pay.  Either way, all they receive is the original loan amount that you borrowed. 

You may be wondering if this will look bad on your credit, it doesn't hold any more value than a charge off or negative mark (which you probably already have) that will disappear in 7 years anyways!

Stop listening to negative critics on this site, I actually wonder who these people are, think about it; if Cashcall doesn't directly affect you then why would you be on this site giving your opinion UNLESS you are working for CashCall, get a life and good luck to all of the Cashcall victims!!!!