CASH CALL 99.23% Fountain Valley California

well they sued me for money i didnt go to court and they didnt either. Noone showed up and the case was dismissed by the judge.

They stated that they have made 26 payments over almost 3 years. If they are really close to 3 years they should have made close to 36 payments. So they would have had to miss at least a few payments.

On a loan with this type of interest rate a single missed payment near the beginning could wipe out any principal paid over several months. So it is very possible that they do owe more than the original balance.

Now, as for negotiating with them, if you check this site out there were people who have said they have had success in getting them to settle. However, reguardless if you can get them to settle before you go to court, you need to go to court no matter what. This way you do not risk having a default judgment entered against you.

Unlike an amortizing mortgage where the principal goes down on a 30-year loan, I don't know how a CashCall loan balance goes down considering the borrowers are paying 99.25% interest. CashCall borrowers are always saying they were ripped off but they voluntarily agreed to the terms of the loans and they have no basis for any type of class-action law suit.

http://www.cashcall.com/General/Rates.aspx
Rate for California loans:
Loan Product Borrower Proceeds Loan Fee APR Number of Payments
$2,600 Loan $2,525 $75 99.25% 42 $216.55

$2525 x .9925 = $2,506.06 total interest payments for one year
$2506.06 / 12 months = $208.83 monthly interest payments

42 payments x $216.55 = $9,095.10

Unlike an amortizing mortgage where the principal goes down on a 30-year loan, I don't know how a CashCall loan balance goes down considering the borrowers are paying 99.25% interest. CashCall borrowers are always saying they were ripped off but they voluntarily agreed to the terms of the loans and they have no basis for any type of class-action law suit.

http://www.cashcall.com/General/Rates.aspx
Rate for California loans:
Loan Product Borrower Proceeds Loan Fee APR Number of Payments
$2,600 Loan $2,525 $75 99.25% 42 $216.55

$2525 x .9925 = $2,506.06 total interest payments for one year
$2506.06 / 12 months = $208.83 monthly interest payments

42 payments x $216.55 = $9,095.10

Unlike an amortizing mortgage where the principal goes down on a 30-year loan, I don't know how a CashCall loan balance goes down considering the borrowers are paying 99.25% interest. CashCall borrowers are always saying they were ripped off but they voluntarily agreed to the terms of the loans and they have no basis for any type of class-action law suit.

http://www.cashcall.com/General/Rates.aspx
Rate for California loans:
Loan Product Borrower Proceeds Loan Fee APR Number of Payments
$2,600 Loan $2,525 $75 99.25% 42 $216.55

$2525 x .9925 = $2,506.06 total interest payments for one year
$2506.06 / 12 months = $208.83 monthly interest payments

42 payments x $216.55 = $9,095.10

Unlike an amortizing mortgage where the principal goes down on a 30-year loan, I don't know how a CashCall loan balance goes down considering the borrowers are paying 99.25% interest. CashCall borrowers are always saying they were ripped off but they voluntarily agreed to the terms of the loans and they have no basis for any type of class-action law suit.

http://www.cashcall.com/General/Rates.aspx
Rate for California loans:
Loan Product Borrower Proceeds Loan Fee APR Number of Payments
$2,600 Loan $2,525 $75 99.25% 42 $216.55

$2525 x .9925 = $2,506.06 total interest payments for one year
$2506.06 / 12 months = $208.83 monthly interest payments

42 payments x $216.55 = $9,095.10

If ALL of your payments were made on time, and you didn't bounce any payments, have them prove to the judge exactly how much you owe and why. There is no reason other than if the loan isn't a simple interest loan (which I don't think it is....) that your principal should ever be higher than it is at the beginning, because some portion of each payment will go to principal.

You might have some luck, but I would consider an attorney to help you with that; they won't negotiate face-to-face with you...best of luck.

And why exactly are you surprised at this? They will hound you, your family, your friends, your employer, anyone they think you may even remotely know, until they get that money!! Want to know how they can charge that type interest?? Look in a mirror.