[electrician]

Hello, I am currently a client of a company called Cash Call.I believe that my wife and I were purposely mislead and not told everything by the Cash Call loan officer.We took out a $5,000.00 loan back in January of 2006.After repeated attempts to obtain our physical loan papers(the loan was set up entirely over the phone with the exception of the e-signature) we finally received them about two weeks ago.To our disbelief we found out that the loan is for 120 months at 59% interest.This was never disclosed to me by the loan officer.When I asked the people at Cash Call to explain this to me because I didn't realize the terms,they just told me that you signed the loan agreement your are bound by the terms.I foolishly assumed that the signing of the e-signature was just a formality as the loan officer had set up everything else.The loan officer never told me to make sure that I read the loan terms before I signed it.I do realize that this is my fault for not reading something before I signed it.The original loan amount was for $5,075.00 and after paying $250.31 for the last 11 months we still owe them $5,230.00.This type of interest loan isn't right.To date we have paid them $2,969.00.I am going to try to contact them to see if they will sign off on the loan if I continue to make the $250.31 payments for the next 9 months which will total $2,252.79.This would mean that they will get back the amount that they loaned us to the amount of $5,221.79.I know that this is not how these companies make their money,but I am not sure that I will be able to keep up the payments past the 9 months.At least they would get back the amount that they lent us.
Could someone please tell me if they have ever dealt with Cash Call and if you think that they would accept the above terms.Thank You

[Sentra]

http://ripoffreport.com/results.asp?...&q5=Cash+Call+

I hope the above link will help you. :(

[Sentra]

Rip-off Report.com - badbusinessbureau.com

I hope the above link will help you. :(

[excon]

if you think that they would accept the above terms.Thank You

Hello electrician:

Nahh. It's going to be one way or the other. There's no middle ground. You either pay them everything, or stop now and sue them (because if you stop now - they're going to sue you - so why not be first?)

Since Bush is in bed with bankers, as long as he's in office the bank has the law on their side. But, if it were me, I'd go bankrupt before I paid these bloodsuckers another penney.

excon

[mr.yet]

File complaint with the FTC, Then with the Attoreny General in your state,

Request the original contract that bears your signature, I know you said e-signature.

This is to see what they will send you.

Check with your state to see what legal limits they have upon interest rate that can be charged.

Do not take no for answer from them, make them produce what you request from them.

File comlaint with the BBB in your state.

[chippers]

I would contact an attorney. 59% interest is basically unheard of. Youd've got a lesser rate with a loan shark. As a rule when obtaining a loan and finalizing it, the loan office is required to show you all paper work pretaining to the loan and explaining every detail of what is written. It's really unheard of that a 5000.00 loan goes for 10 years. Was the amount based on a home equity? If it was even that amount wouldn't do for more than 5 years.

[ScottGem]

You've gotten good advice so far, but I have to wonder just what you did here. Did you really agree to a loan without having documentation of the terms? What were you thinking?

What I would do, is ask them for a payoff balance, then get a loan for that amount from a reputable lender and pay them off. While you may win a suit against them (if they did not properly provide you documentation), its going to be a fight, your credit will be affected and you might not win.

[excon]

I would contact an attorney. 59% interest is basically unheard of.

Hello again chip, my good friend:

59% ISN'T unheard of and it's quite legal. Hiring a lawyer is only going to get him a new bill he can't pay. Bankers, under Bush, have a free ride. Usury is no longer USURY.

Take a look on your street corner. See those payday loan scumbags?? They do the same thing on a smaller scale and a MUCH higher interest rate - well over 300%. They're WORSE than drug dealers. They smile and give you a payday loan. Then when you can't pay it back next week, they'll smile and give you another one - until you get you hooked and they clean you out – just like the OP.

Getting loans from these bloodsuckers is like being addicted. The ONLY way to stop is cold turkey. And yes, there's going to be some pain.

In fact, the decision to give license to these predators is WORSE than going to Iraq!!

Bankruptcy?? Bush changed the rules about that too, just last year. It's not easy anymore. It's more expensive.

Nahhh, the rules are rigged!!

excon

[bcrsg]

Thank You I Was Considering Getting A Loan From Them. I'm Glad I Read Your Question