Cashcall Ripoff 5000 dollar loan with a 60 percent interest it's what they don't tell you Irvine California

It seems to me that what the "ex-employee" stated last has a huge problem....If indeed he can check someone's status using their personal information than I believe that shows that a) he is still an employee there and is just defending his paycheck, or b) they are not as secure with their information as he lead us to believe. Also, taunting someone to release their personal information onto the internet just to prove a point is never a wise idea, something I would think an ex-financial worker would know better than.

I would bet my 'bottom feeder' annual salary that you are in fact a customer of CashCall and even go further to bet that your account is in delinquent status! Why else would you be so overly passionate about this topic! I could verify that with your actual personal identification information, but I'm sure you're too much of a coward to provide that to us!
Please, I challenge you to point out any error in spelling or grammar,... if you can find one that is!

C'mon...EXCELLED in academia? You've got to be kidding me. For someone with such winded responses, one would think that you would posses a strong command of the English language; which you OBVIOUSLY do not. Did your 'University' forget to teach *ITS* (notice my use of the possessive form) students correct punctuation or conjugation? Oh, that's right...you work(ed) at CashCall. What a glorious job.

Like it or not, CashCall is comprised of bottom-of-the-barrel scum with NO skills in customer relations or general societal interaction period. I myself have not taken a loan from the company, but know folks who have.

I truly wish I had the time to respond as fully as I would like; and also to enter into as much detail, but I don't. All I have to say: This company will be - and rightfully so - out of business soon. I would strongly advise against even CONSIDERING a loan from this 'business,' and wish the best of luck to those who already have....

I'm back and yes its the same person, (Kevin) who wrote in the first time.
First of all I want to thank the people listed below for taking the time to read and understand what they are dealing with, rather than try to point fingers and blame others for their own problems.

-Debbie from Buena Park,
-Clayton from Tucson,
-Jamie from FV-I probably know you Jamie
-C from Tyngsboro, Mass,
-RJ from Tallahassee, ..and most importantly
-Mike from Olney, Maryland for pointing out that not only are the interest rates and all other specific info about the loan disclosed to the borrower, but theyre even listed right there on the company website for all of heaven and earth to view.

Secondly, to address the statements from the people that contributed and provided their input.

Linda F from Pineville, West Virginia, ..CashCall's 'legitimate' address is listed right on the company's contact page of the website as it has been since they opened business. Here's a link if you feel compelled to check it out for yourself: http://www.cashcall.com/ContactUs.aspx
Good people do fall on hard times Linda and thank God there are companies like CashCall that exist to help them out. But most of these 'good people' youre talking about are very high risk. Having worked there, I saw so many instances where credit reports of applicants gave a clear indication that most people would take out lines of credit and never pay them back! In other words, they had an absolutely horrible history of honoring their debts. Yet, and in many times when I totally didnt expect them to, CashCall still extended a loan to them, with no collateral, knowing full well the probability of that borrower not paying back the loan was very high!

Hi Lawrence, ...your turn! With regard to the 'structure' of my rebuttal, let me assure you that I am in fact a college graduate who excelled in academia, specifically the English language. I do have a firm grasp of the English language, its 'structure' (if you prefer) and it's correct use. I challenge you find any incorrect use, grammar, and/or spelling anywhere in my content, that was not a direct quote (and just a hint, you can tell which those are because they have those cool little quotation marks around them...hint, hint!) or paraphrasing of content from the person I was referring to. I also suggest that you take some time to evaluate not only your grammatical skills, but also your personal and ethical standards regarding the repayment of debts. You admit yourself that you made an agreement to pay a debt on a certain date and then (and I'll bet within the first 30-60 days) decided that you wanted to change that date, which is yet another testament to your inability to maintain your financial responsibilities. Once again, a borrower's payment due date will default back to the first of the month, should that borrower request to be taken off the auto-draft as it's clearly stated in the contract which you both read and signed. I'm especially tickled by this line: I told them I would pay them[CashCall] on the 17th [instead of the originally agreed 1st day of the month] and that's just all there was to it. So in other words, CashCall, being this horrific and terrible company, decided to grant you an unsecured loan (that means without any guarantee that you're going to pay them back, just in case you're not sure what that means) and gave you a contract with a specific date for repayment each month and then trusted you to honor your word. But YOU arbitrarily (that means you took it upon yourself to make that decision aside from the agreement you had with CashCall) decided that you would pay them back if and when you wanted to, on your terms! Hmmm!..and they're the bad guys. Interesting! Lastly, as a loan agent for CashCall, I personally assisted many customers of mine with changing their payment dates, sending in payments using alternate methods, etc, etc. In my experience, the only time their collection efforts were ever enforced, was when the borrower decided to attempt to hide' from CashCall, like they probably did from most of their creditors. Anytime I had a borrower with a payment issue, I had no problem accommodating their needs!

Theresa: the intent here is not to insult or put anyone down. If I came across that way, then I sincerely apologize. I don't work for the company and haven't for some time now, so you have to understand, I have no vested interest, loyalty or underlying agenda here. Its just frustrating to hear people constantly complaining about matters that they have willfully put themselves into and because they didn't take the time to be thorough and understand what they were getting themselves into they want to blame others. I'll be totally honest with you about something. I had so many customers, who were in such a hurry to sign the documents electronically and get the funds into their account, that they didn't want me to go over the disclosure with them. Whether they were just too busy, didn't care, couldn't believe with their credit that someone was actually lending them money, .I don't know what the reason was. But I would always tell them, this call is being recorded (as they were) and I cannot transfer the funds into your account until I read and explain the disclosure to you fully or I risk losing my job! At the end of that disclosure, we were required to ask them Do you have any questions or is there any part that you don't understand or want me to go over again? We would wait for their answer and then we were required to say to them there is a button at the bottom of the disclosure that will allow you to print out this contract. Do you see it and do you want me to help you print out the contract? I'm not sure what you're referring to by ONLY STAING A PERCENTAGE INSTEAD OF THE ACCTUAL AMOUNT IS NOT BEING UP FRONT. but like I said, full disclosure of that loan agreement is required and monitored while its done, word for word! I hope this addresses your issues.

Cynthia, I'm glad that you read your documents and understood the note fully as you say. I'm also sorry that you ran into financial difficulty. As I mentioned, I helped so many of my clients with payment date changes, payment arrangements when they fell behind and so much more and maybe you just didn't have a good loan agent who could assist you properly. Like I said (and I'm not implying this was the case with you) collection efforts are only carried out in most cases when the borrower doesn't keep in contact with them and CashCall has to go searching for the borrower. As soon as my borrower's would sign the contract, I would always tell them if you have any problems or you think you might be late or have any questions..anything at all.JUST CALL ME and I will do my best to help you in any way I can. Its when we don't hear from you that we start to wonder whats going on! Remember, this is their (CashCall) money that they have literally given to someone with no security and just on the promise that they're going to pay it back. It's not unreasonable for them to want to contact you if they haven't heard from you. In regard to your friend with the debt consolidation company, try to look at it from CashCall's perspective. They have a confidentiality agreement with their client and for the security of that client they are not allowed to disclose any information to anyone except the client themselves. I used to have people call in and say they were the wife or husband or parent of my borrower, but we don't know if they're in the middle of divorce or other legal proceedings or if in fact they are even who they say they are. So for the protection of the client CashCall cannot disclose any information. Let me put it to you this way. CashCall, like any other lender, simply wants to be repaid, right? Now, if this friend of yours wasn't repaying the loan or fell behind or whatever, CashCall was basically losing money on that transaction. Now if that friend were to go into the CashCall offices with this debt consolidation company or a representative and have a sit down meeting with and say we're here to set up repayment of this loan do you really think CashCall would disagree to that? Of course they're going to jump on that opportunity to get paid back and because the borrower took the initiative to do that on their own they would probably be able to make payment arrangements more favorable to their current situation.

Finally, CashCall is still in business today and will be for years to come, primarily for a few reasons:
1) the company does in fact work within the laws of each individual state- think about it, if you were a multi-billion dollar company, would you risk going into a state and disregard its laws for the sake of doing business on a few loans for a few thousand dollars???? It doesnt make sense!
2) And because as CashCall believes, (despite many of the people here who simply want to get out of honoring their obligations) there are many good people' out there who just need someone to trust in them and give them a chance.

cashcall is hurting and all there lendies are going against them, if you do not pay they fall hard like they are right now. they scam hard and eat u alive. watch there buisness has lost are there investers and employees next its bankruptcy bye bye cashcall, what comes around goes around.

I too got a loan from CashCall due to medical expenses beyond my financial reach. I have not been late once, and I plan to pay them off in a couple of months. When I think of the amount of interest I have paid, it's disheartening to say the least, but we as Americans must keep our promises to repay loans. Is it high interest? Yes. Did we agree to pay it? Yes. Should we pay it? Yes. Why? We should pay it back because it's the right thing to do. In the future, we should be willing to seek further options that may not be as costly. I suggest paying more than the required amount each month, or pay on time and see if you can get a lower interest loan to pay this on off. Either way, we have to pay. I do recommend, however, that you do not go to them in the future. Happy New Year, folks.

I am not going to argu the laws mentioned here, I am not an attorney. and am not going to debate this. I will however say that I have performed some of my own personal investigation into the matter and have to say, from what I have found and my personal take is that they do have to abide by federal and state laws for their collection practices. perhaps I am wrong here, but what reputable company conducts themselves as they do.

furthermore, I looked up the bank that the loans are processed under..and lo and behold if they werent forced out of the PDL ( pay day loan) business by the government. seriously, look it up yourself.

my personal experience with the company has been this. yes, I took out a loan and did read the terms of the agreement. I am fully aware of what the payments and interest would be. however, I have recently experienced a hardship of my own, and fell behind in payments. I attempted to work something out with the company and they outright refused to work with me. It was all or nothing.

then the phone calls began, even when I did speak with someone , they would continue to call. all of the representatives have been awful to work with, they have been rude, unethical, intrusive, abusive, argumentative..and my list could go on. they not only have conducted themselves this way when speaking with me, but when speaking with my references as well.

a friend of mine, who took out a loan at the same time, contacted a non -profit debt consolidation company in my area, and person from that company attempted to contact them on their behalf, to work something out. and they behaved in the same manner toward this organization. unbelieveable.

realizing this wouldnt benefit me either, I finally sent a Cease and Desist to attempt to stop the calls, as well as filed a report with the FTC due to the conduct of the collections agents.

Im not arguing, nor are most of the people on this site that a debt is owed. I believe what is in question here is the conduct of the company itself.

a company's best marketing is word of mouth, and I can tell you they will not be getting a reccomendation from me. eventually, they will lose business. and then where will they be.

I agree the rate is high, and looks absurdely so on 1st glance. Let me make the case of looking at it in a different way, and perhaps you won't see it as a rip-off.

If you could have used a credit card, you might have paid up to 30%/yr interest. The payments would have been about $225/mo, only slightly lower than you probably got.

But, you were probably not qualified to get 5K via use of a credit card. So this company took on the risk that you wouldn't pay them back. In return, they are getting an extra $125/mo (extra 30%/yr on 5k) in interest compared to the credit card.

$125/month really isn't that much, and that is why they would hound people who miss a payment - especially early on as you did. They know the entire 5k is on the line, even though you see it as missing a $250 or so payment.

You should consider the $125 extra over a credit card the fee/month for not being able to use a credit card. Or a $250/month fee for not having the 5k in savings.

What might be the alternative? Government regulation to cap APR? What that would accomplish is to effectively keep you from getting the money you desparately needed.

Part of the problem here IS government regulation. They want everything to be expressed in APR terms. That is great for car loans, mortgages, CDs, etc. But in a short-term desperate situation, I think a different approach is needed.

OK, keep the APR expression. BUT also add an alternate view to express it in terms of the equivalent fee/month (as I did above) to clearly show - in terms more people could understand -what consumers are getting themselves into. PLUS, get consumers to have to write down the APR/fee numbers in a blank space, and have it signed off, because many people don't read contracts!

And remember, you cap the equivalent "fee" by paying the entire balance as soon as possible.

For one thing the FDCPA states that you can't contact a debtor more than once in a day. If you don't answer the phone and avoid the calls, no contact is made, therefore they can call 100 times and it is perfectly legal.

Cashcall is not a loan shark by any means, the company discloses everything to you as required by law. If you were honest about the whole thing, it would most likely come down to the fact that you needed money very bad at the time, so the truth is you didn't care what the rate was. You just wanted the money.

CashCall is a very successful company that is growing bigger and bigger each day. The company is not going anywhere. It is amazing to me that out of more than 500 loans that are funded each day there are only 15 bitter borrowers that have reported CashCall as being a ripoff, I'd say that they must be doing something right!

For one thing the FDCPA states that you can't contact a debtor more than once in a day. If you don't answer the phone and avoid the calls, no contact is made, therefore they can call 100 times and it is perfectly legal.

Cashcall is not a loan shark by any means, the company discloses everything to you as required by law. If you were honest about the whole thing, it would most likely come down to the fact that you needed money very bad at the time, so the truth is you didn't care what the rate was. You just wanted the money.

CashCall is a very successful company that is growing bigger and bigger each day. The company is not going anywhere. It is amazing to me that out of more than 500 loans that are funded each day there are only 15 bitter borrowers that have reported CashCall as being a ripoff, I'd say that they must be doing something right!

For one thing the FDCPA states that you can't contact a debtor more than once in a day. If you don't answer the phone and avoid the calls, no contact is made, therefore they can call 100 times and it is perfectly legal.

Cashcall is not a loan shark by any means, the company discloses everything to you as required by law. If you were honest about the whole thing, it would most likely come down to the fact that you needed money very bad at the time, so the truth is you didn't care what the rate was. You just wanted the money.

CashCall is a very successful company that is growing bigger and bigger each day. The company is not going anywhere. It is amazing to me that out of more than 500 loans that are funded each day there are only 15 bitter borrowers that have reported CashCall as being a ripoff, I'd say that they must be doing something right!

For one thing the FDCPA states that you can't contact a debtor more than once in a day. If you don't answer the phone and avoid the calls, no contact is made, therefore they can call 100 times and it is perfectly legal.

Cashcall is not a loan shark by any means, the company discloses everything to you as required by law. If you were honest about the whole thing, it would most likely come down to the fact that you needed money very bad at the time, so the truth is you didn't care what the rate was. You just wanted the money.

CashCall is a very successful company that is growing bigger and bigger each day. The company is not going anywhere. It is amazing to me that out of more than 500 loans that are funded each day there are only 15 bitter borrowers that have reported CashCall as being a ripoff, I'd say that they must be doing something right!

I just signed up for Cash Call. So far the process has been easy and I was approved for $2600.

I relize the interst rate will be high (REALLY high most likely) but "I" have no other recourse to resolve some major bills to be paid.
So far everything I have read on here is about people that are NOT paying their bill.
NOTE!! I am NOT an employee of that company..I work for a small pool company and I got myself in some financial difficulties, and with "BAD!" credit and no other recourse I have no other choice but to sign up with Cash Call.
What I don't understand why everyone is bashing this company.

NO other company/Bank will loan me $2600 and I'm positive there are others out there that have the same issues.. NO MONEY, BILLS Piling up and about to lose Apartment, Phone, vehicle...ect. I really don't want to live on the street, from what I have heard it's not the best way to live!
My major comment about this is..IF YOU OWE THE COMPANY MONEY.. THEN PAY THEM.

YOU SIGNED UP FOR THIS LOAN, They did not FORCE you to come to them!

As for the Customer service portion, I reserve comment untill I get the loan and see what they are like.

I recieved a $5,000.00 loan with Cashcall. I was getting married & went over budget!
All you have to do is READ the Prom note BEFORE you Electronically sign & you will know EVERYTHING about the loan from interest rate & terms to how the interest is calculated. This is A SIMPLE INTEREST LOAN (therefore you pay back the interest 1st)calculated on a DAILY Basis. Very little is paid towards your Princ balance.

BUT you can send in any Extra amount of $$ to be paid to your prin bal & cashcall encourages you to do so to bring down your princ balance. It works like this, the lower your princ balance is the less interest you are charged. You are still charged the original interest rate from your legally signed agreement but the lower the balance the lower your interest.

GET IT? It's all stated in the contract. I have read all the 6 complaints filed on Rip off Report,it sounds like you guys did NOT READ YOUR CONTRACT. And now that its time to pay back the $$ that they let you BORROW, you are all crying "RIP OFF" PLEASE! You got yourself into this with a promise to pay back. So do it! Do you really think if Cashcall was doing illegal transactions, they would still be able to help people with less than perfect credit & allow them to borrow thousands of dollars??

I paid back my loan in 4 months I paid the interest & sent in extra payments. Done! They helped me at a time of need & I repaid my debt and I am very thankfull they were there to help. Ask yourself this question, if somebody owes you $2600. $5000. or $10,000. & they quit making payments to you, you would let it go? You wouldnt call or send them letters asking for your money that you let them borrow? Think about that!

Do whats right Get straight, pay back what you owe.

THIS EMPLOYEES REBUTTAL IS THE TYPICAL TEMPERMENT OF THIS COMPANY. PUTTING THE PERSON DOWN AND NOT FOLLOWING THEIR OWN LAWS IS WHAT THEY DO BEST. BY THE WAY ....

THEY ARE ONLY ALLOWED TO CALL YOU NO MORE THAN TWICE A DAY HERE IN CALIFORNIA. AND NOT BEFORE 8 AM AND NOT AFTER 9PM. FUTHER I NEVER DID RECEIVE THE COPY OF THE CONTRACT.

I THINK THIS WAS DONE BY INTERNET SO NO YOU DON;T SEE EVERYTHING ON THE INTERNET... ESPECIALLY WHEN I'M HEARING STORIES THAT WE WAIVE OUR RIGHTS TO SUE THEM. I DON'T THINK SO.

EVERYTHING THAT I'M HEARING IS TRUE ABOUT THEM. THEY ARE NOT UPFRONT. THE AMOUNT SEEM TO CHANGE DEPENDS WHO YOU TALK TO. AND ONLY STAING A PERCENTAGE INSTEAD OF THE ACCTUAL AMOUNT IS NOT BEING UP FRONT.

AND THERE EMPLYEES TELL YOU ONE THING BUT THEN DO THE OPPOSITE.

At least they're upfront.

$20,000 loan - 24.19%

There are 4 interest rates for a $10,000 loan:
21.30%
34.30%
39.35%
44.38%

The worse your credit, the higher the APR.

$5,075 loan - 59.90%
$2,600 loan - 99.25%
$1,075 loan - 96.78%

You're screwed if you use any of these people.

At least they're upfront.

$20,000 loan - 24.19%

There are 4 interest rates for a $10,000 loan:
21.30%
34.30%
39.35%
44.38%

The worse your credit, the higher the APR.

$5,075 loan - 59.90%
$2,600 loan - 99.25%
$1,075 loan - 96.78%

You're screwed if you use any of these people.

At least they're upfront.

$20,000 loan - 24.19%

There are 4 interest rates for a $10,000 loan:
21.30%
34.30%
39.35%
44.38%

The worse your credit, the higher the APR.

$5,075 loan - 59.90%
$2,600 loan - 99.25%
$1,075 loan - 96.78%

You're screwed if you use any of these people.

At least they're upfront.

$20,000 loan - 24.19%

There are 4 interest rates for a $10,000 loan:
21.30%
34.30%
39.35%
44.38%

The worse your credit, the higher the APR.

$5,075 loan - 59.90%
$2,600 loan - 99.25%
$1,075 loan - 96.78%

You're screwed if you use any of these people.

Yes, the employees for Cashcall aren't too bright. You can actually tell by the structure of the "ex-employees" rebuttal.

I used to have a loan with these people. I was on automatic debit from my account each month for the 15th. One month, I just was unable to pay it on the 15th. The soonest that I was able to pay it was the 17th. They WOULD NOT work with me on this. So I sent a letter and requested to be taken off of the automatic debit from my account. I was just going to send them a check when I could (and I did).

Unfortunately for us consumers, a lot of these sales people that get hired at these two-bit loan places are uneducated. No one explained to me that once I was taken off of the automatic debit, that my payment would go back to being due on the 1st instead of the 15th. For almost three weeks, these degenerates called me about 20 times a day like the person above mentioned.

I answered a couple of times and told them I would pay them on the 17th and that's just all there was to it. The guy kept saying you need to do moneygram, blah blah blah. It's like he just wasn't understanding that this wasn't going to happen and that I would send my check on the 17th as I had to outline for him. These people really are dense.

I paid them off shortly after that and if you can take my advice, don't ever use these schmucks...ever!!

In response to the so called EX employee of this company who are you kidding? All of these so called loan sites are nothing but frauds. It is illegal to charge this type of interest. If not so why do so many of these companies hide out? You cannot even get a legimate address for these people. It is always private mail boxes etc. My advice to the consumer who orginally wrote this report. Contact your state attorney general, also check the interest laws in your state. In WV this type of interest is illegal.

Also if they are calling and harassing you they are in violation of the federal fair debt and collection act. Do not take this and listen to this EX employee. Good people fall on hard times. Your state attorney general can help.

I no longer work for the company, but i would like to say that this company gave me some of the best training and customer service skills and experience I have ever received. But lets take your 'complaint' point by point. In your very first statement, you clearly state that you became desperate for money. Why? Because you were out beating the streets looking for a job? No! because you found yourself in a situation that was not of your doing or within your control? No! But simply because you 'wasnt liking it there' and the 'people there acted like children'. Now, lets just think about what that says about your character and decision making abilities. Ok, ready? Now, point number two: you mentioned that 'cash call dwells on the desperate people to the people to the point where they will sign anything to get the money'....are you serious? Are you really expecting sympathy when you outright admit that you entered into a legal and binding agreement, without fully reading and understanding it, just because you were 'desperate'??? Third point: you mentioned that AFTER you got the money, you saw the paperwork for the loan. This is an outright and blatant LIE. Before any person can accept the funds for their loan, they must sign for the funds. In order to sign for the loan ONE MUST BE PRESENTED WITH THE LOAN DOCUMENT in its entirety. If you received a loan from that company, you full well had the opportunity to view the entire document and ask any questions about that document. Fourth: I love the statement where you said, and I quote, "Or I could come up with 5 grand and pay it off". Wait a minute, the loan was for $5000 right? God forbid, you should be asked to pay back the money you borrow? This is a business, not a charity! As with any loan, you are expected to pay back the funds you borrow. In your case, that amount was $5000 dollars, is that not correct. Fifth: I really like that you mentioned an employee by name. Now I'm not an attorney, but I am just guessing that there is some kind of liability here. I will take great joy in forwarding this information and personally investigating this website and its activities to find out where that responsibility lies. Tom, cashcall specializes in helping people with, let me say this in the best way I can, ..less than desireable credit. If youre really looking to have the support of these people, why dont you be honest and allow them to see your credit rating and your financial situation. Then, see how many of them would be as willing to extend $5000 cash money to you, without knowing you and without asking for any kind of security or collateral, as cashcall has done!