Drive/Santander This company is just as EVIL as Cashcall!! I have been trying to get supporting documents; so I can take some money out of one of my 401K accounts to pay them. My company and I have done conference ca Dallas, Texas

Another good reason why I don't use banks anymore.  They have no way of ever getting my money.

First to Jay.  Even though you wrote about Cash Call and this report was mainly about Drive, you did write your comments as a "guaranteed" way to get out of your debt.  This is not very wise as there are different situations, and you may cause people more problems.  Because what worked for you may not work for others.  This is why it is best when dealing with suits it is best to consult a lawyer who can review the specific situation and give you advise based on that.

So in general a couple of comments.  First the FDCPA does allow you to send a Cease Communications(not Cease and Desist) Letter to a Collection Agency.  Once they receive that, you are correct(and the only thing that I think you got correct), they must not contact you again by phone unless it is to inform you that they will be taking further action.  However, Cash Call is considered an Original Creditor so this does not apply.  Now, some states such as California has additional laws that cover the Original Creditor.

As for being sued.  It depends on the State as to the Small Claims limit, some have limits up to $10,000.  But there is nothing that says they can not sue you in a regular court.  If they sue, and even if the judge says you only owe the original amount.  You are still going to be responsible for the court and attorney fees.  This alone could be several hundred dollars.  If you do not pay the judgement they may have the right to garnish your wages or attach your bank account.  The court may also impose a Post Jugement interest rate on the unpaid balance.  This is of course is assuming(and we all know what happens then) that the judge will see it your way.  There is NO guarantee of what a judge will do, so it could be quite possible that the judge orders you to pay the entire amount in the original agreement with full interest.

Now to Michael, you are correct in Texas they can not garnish your wages for a "consumer debt".  However, they can still attach your bank accounts.  If that never happened to you, then you either didn't have enough money for it to be worth their time, or you kept it hidden well enough that they couldn't find it.  In addition to attaching your accounts, they may be able to place a lien on any real property you own, such as a house or another car.

Also, in Texas a Judgement is valid for 10 years, and is renewable in most conditions.  So it could effectivly be enforceable forever.  Just because it is off of your credit report does not mean that it is still not active, and one day you may get a "surprise" when all of your money is gone from your bank account.

all they can do is get a judgement against, unless you live in a state that allows wage garnishment, thank God Texas doesn't the only thing here they can garnish your wages for is child support and taxes.  I have had a judgement agianst me, I never paid and it was off my credit in seven years.  I already had a new vehicle and a house so I didn't care.  By the time I needed a new vehicle the judgement was gone. They can't make you pay even with a judgemnt.

It is very dangerous to be giving legal advice that you are telling someone WILL work when you have no idea what the differences in local law are between your location and the authors, not to mention the variables of the judge who presides over the case, dollar amount of claim, local ceiling/floors on interest rates, etc. So to say that what may have certainly worked for you, will work for the author, is just plain wrong, let alone dangerous for you to be giving legal advice (I assume you are not an attorney).

As for your plan not showing up on credit report after 7 years, that is also WRONG. Whether a trade-line (each loan/LOC on your credit report) is a non-paid collection, charge-off, paid collection, settled collection, etc. that includes the situation you are described which would be listed on your credit as a settled loan. This does NOT fall off your credit report after 7 years, and WILL continue to affect your score for at LEAST 10 years after the date it is SETTLED, not when the loan was originated. You are correct that it will look the same as another charge-off or collection however, because the next lender you apply to will look at that and think "Gee, I don't want to get 25% (much less 0%) of our money back, I want it all!" I have seen hundreds, if not thousands of credit reports and I can tell you with 100% certainty that what you are claiming is just wrong, no way to be nice about it.

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!!!!

Yes, I hear what you are saying about a job! I HAVE A FULL TIME GOVERNMENT JOB!!!  With major budget cuts!!! Yes, I am working full time!! My job even pays for us to go attend GRADUATE school!! I have a Bachelor's Degree with a 3.8 g.p.a!!!

No, I am not looking for anyone to counsel me, I am looking for fairness!! All I want is my letter, so I can take money out of my 401K that is fully loaded because I had enough sense to get EXTRA taken out of my paycheck!!

So again, be careful; because you NEVER know when it will be YOUR TURN for trouble to come knocking on your door!!!

Please file your complaints with the Federal Trade Commission!

Peace and Blessings,

Miss. Bana

File a lawsuit for what?  On what basis?

You borrowed the money and you agreed to pay it back with each and every payment on time, everytime.  That's the AGREEMENT YOU SIGNED!  The cold hard facts of life are that without regard to the reason you are late, they STILL want your money and you STILL need to make on time payments.  This company is NOT a charity.  They are NOT your counselor, your friend, your helper, your financial advisor or someone to provide a shoulder to cry on.  All they are interested in is money.  All they provided for you is money.  That's it...case closed!

They are under ZERO obligation to help you, make exceptions for you or give you a "pass" on making payments either.  You may not like any of this but this is business and not friendship.  If you are a college graduate, you should be very well aware of these things! 

It seems as though what you are saying here is there is some type of dispute as to whether or not payments are over due.  What do your records say?  Do you keep records?  What do your checking account records say?  Do you have a checking account?  Or are you paying with these stupid money orders?  If you are keeping records, AS YOU SHOULD BE DOING, then you can prove without a doubt if you are late on any payments.  In that case, there would be no question as to whether a repo is around the corner. 

If you are have problems making on-time payments then you need to increase your cash flow by getting a job, getting a better job or getting a part-time job to supplement whatever income you have.  And please don't cry and whine "there are no jobs", that's nothing more than an excuse people use who do not want to work.

Yes, I hear what you are saying; but please keep in mind that many of us here did not fall behind with ALL of the payments.  When you go into Furlough from a great paying government job, and you get hit with a tumor then things will have the effect of you either getting behind in your payments, or like myself making partial payments!!

I do believe in making my payments, as I stated in my first post; I paid off another legal loan shark in full, Cashcall!!! Many of us on this forum are college-educated, hardworking,and honest Americans!

Just pray, that you don't go into Furlough or lose your job. This is reality! Be careful not to judge, because that same judgment can come knocking at your door! You never know, when your money might run out, and you need to get money from one of your 401k accounts!

PRIDE can be deceitful!! Please be careful! Oh, also file your complaints with the Federal Trade Comission!

Peace and Blessings,

Miss.Bana

Person borrows money...Person gets behind...Person blames the finance company because they are not doing what THEY want them to do.

You want to know if you car could be reposessed?   All you have to do is answer this one question.  Are you delinquent?  The answer to that will answer the reposession question.  It does not matter what bank you are with,  if you are delinquent they could reposess your car.

It's amazing how you didn't seem to have a problem with them when they were probably the only company who would loan you money.  What exactly did they "reap"?  On the promise that you would pay them back a set amount of money they loaned you several thousand dollars.  There was nothing in that agreement that said you only had to pay it back when you could.