Cashcall The loan that keeps going & going & going & going! Fountain Valley California

I am an ex-employee of Cash Call and have found that many of the threats that are made are just that. I worked in the "litigation" dept. which is supervised by individual's that have NO legal experience. Cash Call Las Vegas will NOT sue an individual that has paid off the original principal balance, where the California office will. They only litigate in CA,NV,ID,NM and UT. They will be happy to accept settlements that are extremely LOW.
My suggestion to you is to tape the conversation according to the laws in your state. Understand that they are taping you at all times.
They are currently under investigation by The State of Nevada Atty. General's office. If you need any info regarding this company I will be happy to supply whatever info I can....

Ex Employee for a reason

Let me start off by saying I completely understand your frustration. You were in a financial bind, otherwise you wouldn't have contacted Cashcall. I'm going to assume your credit may not be great (the same as a LOT of people in this country right now) which is, again, why you contacted Cashcall. Now keep in mind... you contacted them, not the other way around. This is not excusing Cashcall's high interest rates, I just want to make sure we're all on the same page.

On the contract that your husband e-signed, at the top, there were 3-4 large boxes, with bold print stating the interest rate, how much each payment would be, how many payments you would make, and the total amount you would repay, if the loan went to full term. It's called the "Truth In Lending" Act, and every loan must have it. So there should be no surprises.

If your husband didn't read this portion of the loan, that is not Cashcall's fault. Just like if you went and got a car loan, just because you didn't realize you would be paying that loan off over 5 years... it doesn't make it the lending institute's responsibility to hold your hand when you sign the contract. They are going to assume you read the contract before signing.

Cashcall has not changed the terms of your loan since you signed it originally, there are no surprises here. It is your responsibility to honor your contractual agreement.

Having said that, Cashcall has a reputation for hiring collector's that do not always follow the FDCPA guidelines like they should. There have been many cases where collectors and even collection supervisors have been terminated for violating the Fair Debt Collection Practices Act. My suggestion is to learn these guidelines, and make sure that the individuals calling you are following them. The company will call you on the 1st of the month (and has the legal right to) if you are not signed up for their automatic withdrawal.

Before posting a complaint, keep in mind that you (or in this case, your husband) signed a legal binding contract. Good luck. I hope you can get this resolved.

however, what terms did you agree to in your contract? I just went to Cash Call website & got this info for California:
Loan Borrower Proceeds Loan Fee APR # of Payments Payment Amount
$5,075 $5,000 $75 70.08% 84 $294.50

So yeah you do end up paying back a LOT more than you borrowed and it seems to take forever (in this case monthly payments for 7 years paying back $24738.00) but unfortumately you agreed to the terms and accepted their money. If possible, I would recommend to come up with the lump sum payment to cut your losses.

ABSOLUTELY DO NOT sign any document that CashCall sends to you. This is a vile, evil company. only bad can come from your signing this document.