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  • Report: #397480

Complaint Review: CashCall

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  • Submitted: Wednesday, December 03, 2008
  • Last Posting: Thursday, December 04, 2008
  • Reported By:ellensburg Washington
CashCall
1600 S Douglass Rd Anaheim California 92806 U.S.A.
  • Phone: 877-525-2274
  • Web:
  • Category: Loans

CashCall Preditory Lending Anaheim California


1Author 2Consumer 0Employee/Owner

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I knew that when I applied for this loan that the interest was high, but at the time, I was facing extremely large medical bills, no insurance, and needed the money, and didn't have the credit to get it elsewhere. I have never been late with this payment but find that only $9.00, of my 255.00 payment every month started going to the principle, after paying on it for 20 months. I didn't use this money to buy things that I couldn't afford, so anyone that says you shouldn't have done this, is right to a point, but when you have no other options and you need medical help, a person can be desparate.

I just want to warn anyone else out there that is thinking to dealing with this company, don't do it if you can help it. Where is the attorney generals of the states that cash call does business in, can't they look at cash calls business practice and see that the lending they do, is far beyond just a higher than normal interest loan, people like myself will be paying back triple what has been borrowed.

I hope that all people like myself will write the attorney generals of the states they live in and ask for some assistance. No we don't want a bail-out, we just would like a reasonable higher rate of interest, so that the principle will show some movement in the right direction...down...

Vicki
ellensburg, Washington
U.S.A.

This report was posted on Ripoff Report on 12/3/2008 2:00:51 PM and is a permanent record located here: http://www.ripoffreport.com/loans/cashcall/cashcall-preditory-lending-ana-8d5y3.htm.

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1Author 2Consumer 0Employee/Owner
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#1 Consumer Comment

As with any installment loan - MOST OF THE PAYMENT GOES TO INTEREST

AUTHOR: Laurie - Haslet (U.S.A.)

Most people don't realize that. Because they never really looked.

I know my mortgage and credit card statements always state how much went to what.
I paid off a 30 year mortgage in 9 years because I sent extra money every month. It does not have to be a lot. Whatever you can manage each month

As the balance went down the amount of interest accrued went down too.

You have to make a larger payment - specifying that the extra go to principal only.

The only way to reduce the interest - you have to work on reducing the principal too.

Send whatever extra money you can each payment.
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#2 Consumer Comment

Laurie, I don't think CashCall uses a simple interest loan.

AUTHOR: J G Shrugged - Austin (U.S.A.)

I think their loan includes the full term at the almost 100% interest, which is a rip-off, but it's not like they put a gun to anyone's head to accept their terms.
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