ANOTHER Cash Call type loan..BEWARE!!

Submitted by sdchargers_63 on Mon, 09/03/2007 - 04:29

Wanted to warn ya'll!!........there are commercials, on a place called, 'Quick Money Loan'. They have recently been advertising in the state I live in. I live in PA. They sound VERY SIMILIAR to the 'cash Call ads. According to this add, " even if you have bad credit, you can barrow up to $10,000. " The commercial wasn't very long, but, I DID notice the % rate(s). 70%-90%!! OMG!!! How horrible!! Anyway..wanted to let people know about this.

oh god this is terrible, another predatory lender. Hope folks read the fine print. They should be illegal.

Sat, 11/03/2007 - 13:12 Permalink

yep....all of this should be illegal!! But....some banks DO 'back-up' companies, like these. Hopefully people will stay away from places like these.

Sun, 11/04/2007 - 03:44 Permalink

If we get the word out there maybe a few on here will anyway. You would think the government would step in and do some regualting on these lenders? How has this area gone untouched for so long?

Sun, 11/04/2007 - 12:53 Permalink

yep........these can be horrible!! These kinds of places can get you into MORE debt..paying all of those high % fees, etc. YEP...I say it again.....stay away from from these kinds of loans!!

Sun, 11/04/2007 - 15:40 Permalink
Anonymous (not verified)

I know sometimes people feel they are a way out of debt because the can get more than the average payday loan, maybe they use it to pay off a few small ones, that was a mistake I made. I will get rid of it here by the end of the year.

Sun, 11/04/2007 - 23:43 Permalink
Anonymous (not verified)

I know sometimes people feel they are a way out of debt because the can get more than the average payday loan, maybe they use it to pay off a few small ones, that was a mistake I made. I will get rid of it here by the end of the year.

Sun, 11/04/2007 - 23:44 Permalink
Anonymous (not verified)

This is where they make their biggest mistakes because the payday loans are short term and these guys have higher intrest and longer time periods of paying it off. They are really outrageous.

Sun, 11/04/2007 - 23:49 Permalink

When it comes down to it they are worse than payday lenders, they really rob a person with the long period of paying it back and your right the intrest is through the roof. Hopefully, one person will learn from the forum and not fall for the gimmick that they try to sell to people.

Sun, 11/04/2007 - 23:52 Permalink

You may think you got a 'good deal', because someone took a chance on you ( ie..PDL's), but, as you said, Goodnatured, the HIGH % is what kills ya!! I've learned alot from this forum, myself!!

Wed, 11/07/2007 - 08:44 Permalink

Yes thats true. Wendy has faced a lot with CashCall. How is it going with them now Wendy?

Wed, 11/07/2007 - 09:54 Permalink

Wendy, please share your experience with this company. Is it posted here somewhere, I looked and could not find it anywhere?

Wed, 11/07/2007 - 11:25 Permalink

Ah I forgot to mention sdchargers is WENDY :D. Sorry I think this is why you could not find the threads.

Thu, 11/08/2007 - 06:20 Permalink

Do these guys report to the credit reporting agencies? sdchargers are they on your report?

Sat, 11/10/2007 - 13:22 Permalink

I would think if it was a loan through a bank, regardless of the intrest rate, it would be reflected on your credit report.

Fri, 11/16/2007 - 00:24 Permalink

HI Dadummy,

A warm welcome to creditmagic.
Dadummy this loan is from the cash call which is a payday loan company. So we really dont know whether they report to the credit bureaus or not. At least the illegal ones do not.

Good I think sd has it on her reports. She was facing a lot of trouble dealing with this company.

Fri, 11/16/2007 - 03:16 Permalink

sdchargers any input you have here would be appreciated. thanks

Sat, 11/17/2007 - 12:34 Permalink

Is there anything in the fine print about credit reporting? This should all be broken down some where. revisit your original agreement with the company, if you can't find it, request another copy of your loan documents.

Sat, 11/17/2007 - 13:21 Permalink

fine print, oh, those two awful words. I will pull the original documents out and see what is up. I still have them here somewhere.

Sat, 11/17/2007 - 15:58 Permalink

Hi...yep, I'm Wendy!! Nice to see ya'll!!LOL's an 'update'. Sometime ago Cash Call 'sold' my loan to a CA. I've been working out somethings with this company. Got some situations worked out, where it's MORE affordable to me now!! Was having sometrouble at first ( I guess it was with a rep I ORIGINALLY was working with...some people you just can't 'work with'). Anyway.......making between $50.00-$100.00 per month payments.with 5%. ALOT better than Cash Call!!!!! I NOW work with a REP, from this company (believe it or not..) who had to deal with Cash Call, herself, at one time!! OMG!!! SOO..she knows what I'm going through. answer everyone's far, so good. Thanks for ya'll concern, with me, on this matter!! Thanks, Laura, for 'updating' people with my name!! I've had ALOT of people ask my experience with CC and how I've been dealing with them. I'm SOOO glad I can help others deal with them, too!! If anyone has anymore questions, just 'ask away'!!!

Sat, 11/17/2007 - 23:37 Permalink

Yes, I have questions, I pmed you and would appreciate any feedback you can give.

Sun, 11/18/2007 - 12:25 Permalink

sounds like just another add for the legalized, professional loan sharks!!!

Sun, 11/18/2007 - 16:55 Permalink

Hi......yep, if you DON'T pay Cash Call, they WILL report to the CB's. However, if they 'sell' defaulted loans to other CA's, that means, as soon as you pay the loan off, with the CA, the Credit Report will 'update'. Remember.......Cash Call is 99%.............CA's are 6%-10%. Alot better than 99%. I've noticed, too, i don't see anymore ads for Cash Call on TV. There used to be ALOT of them. I wonder how Gary Coleman is dealing with them..LOL

Sun, 11/18/2007 - 19:41 Permalink

It was a shock seeing him appearing on an ad for a payday loan. Outrageous....i liked him in movies.

They are loan sharks for sure.

Mon, 11/19/2007 - 10:42 Permalink

Yeah........Cash Call DOES report to Credit Bureaus......because they are NOT considered a PDL. I know, it's horrible how they can tale advantage of people. Trying to 'fix' it, is difficult, but, those, who are trying to deal with Cash Call, don't give up.......'keep plugging away'.

Mon, 11/19/2007 - 11:02 Permalink

I hope people are taking these warnings seriously, these people have outrageous rates that you could end up paying for a very, very long time.

Tue, 11/20/2007 - 03:01 Permalink

sdchargers, how long were you behind before they decided to sell out your loan to a collection agency?

Tue, 11/20/2007 - 23:13 Permalink

sdchargers, thank you for coming here and sharing your personal experience with this lender with everyone, you have been an inspiration and your experience, good or bad will help others.

Thu, 11/22/2007 - 12:14 Permalink

Goodnatured.........i was behind about 2 months, when CashCall decided to 'sell' my loan to somoeone else. They are REALLY hurting for money, themselves. Dadummy..thank you for your comments. I've had alot of people send me PMs, about Csh Call. I'm sooooooglad I could help them, with my experiences.

Thu, 11/22/2007 - 21:49 Permalink

Wendy I feel happy that I know a person like you. You have been so helpful to everyone in the forums.

Sat, 11/24/2007 - 04:56 Permalink

I am especially happy that wendy is here, I really appreciate that you share your real life experience with me, I will be begging you for guidance here, so your experience will be very helpful to me. thanks sd, appreciate it.

Sat, 11/24/2007 - 14:04 Permalink

My goodness! this is terrible.Is there any way to prevent this? :?:

Mon, 11/26/2007 - 08:59 Permalink

The only way to prevent it is to not use the companies, unfortunately people need money and they end up borrowing from these types of companies. Hopefully some people will heed the warnings given in forums like these and not use them.

Mon, 11/26/2007 - 11:54 Permalink

So many fall for it though, because they need the money. I did and now I am behind on it, I am hoping that they will turn it over to a collection agency and the intrest rate will fall. The intrest is crazy. I know it will reflect on my credit report but to me it is worth the sacrifice to not pay all the extra money. Hopefully, it will work out this way. Keep your fingers crossed for me sd, I am hoping that mine will end up like yours.

Mon, 11/26/2007 - 17:01 Permalink

Hello Avena welcome to the forum.

These scamsters can be stopped and there is only one way. We have to make people aware of the unlawful practices that they implement in running their business. We have to shout this statement STAY AWAY FROM PAYDAY LOANS to inculcate it in the brains.

Tue, 11/27/2007 - 04:39 Permalink

all we can do is try Laura, unfortunately people get mixed up in them and end up in a viscious circle that never ends. They seem like an easy fix but end up being a nightmare in the end.

Tue, 11/27/2007 - 23:23 Permalink

yes, da, hopefully people will visit the debt forum and see the trouble that cashcall and other loan companies that follow this same practice has caused. Hopefully they will avoid it at all costs.

Tue, 12/04/2007 - 13:55 Permalink

yes, da, hopefully people will visit the debt forum and see the trouble that cashcall and other loan companies that follow this same practice has caused. Hopefully they will avoid it at all costs.

Tue, 12/04/2007 - 14:14 Permalink

I have not seen cashcall being advertised lately, are they closing down, anyone have any news on them lately? Just curious

Sun, 12/23/2007 - 02:31 Permalink

Come to think of it, I have not seen any of their commercials either, maybe they are going broke, that would be a great christmas present wouldn't it, LOL.

Sun, 12/23/2007 - 18:47 Permalink

Ya know, come to think of it, I haven't seen any commercials either. I know they were having ALOT of 'money matters', in the past, were 'back on their feet', and then started 'going down hill' again. Mmmmmm.......I was STILL getting 'ads', on my PC ( even though my loan was in default with them), but, I haven't recieved any in a while.

Wed, 12/26/2007 - 16:33 Permalink

I think they have been thrashed by the legal authorities. The no. of complaints that we have lodged might have put them straight. LOL

Thu, 12/27/2007 - 05:30 Permalink
cjsvirginia (not verified)

Do not use them If you have trouble with them contact
Departmane of Corporations
Consumer Services Office
1515 K Street, Suite 200
Sacramento,CA 95814

Pass the word

Tue, 01/29/2008 - 19:52 Permalink

I say stay as far away from these companies as you can. Best advice is to read some of the horror stories and then ask yourself, do you really need money that bad?

Tue, 01/29/2008 - 23:33 Permalink

Good choice Lunchtime, wish others would too.

Mon, 02/04/2008 - 18:37 Permalink

Thanks a lot CJSvirginia.

We appreciate the information.

Tue, 02/05/2008 - 08:44 Permalink