My young son borrowed money from these loan sharks. He borrowed the money to do dental work and did not understand the meaning of 87% interest. He only has a GED and did not know what this would get him into. He borrowed $2,600 and made about 9 payments of $200 and now they say he owes more then $2,700 plus additional fees and costs.
We've contacted Cash Call and tried to negotiate a pay-off for this loan and to date they have been unwilling to co-operate. Cash Call is rude, abbrasive and use borderline illegal harrassment collection practices according to the California Rosental Fair Debt Collection Practices Act.
In order to get some co-operation I have contacted the California Dept. Of Corporations, which governs thier license to operate thier company as an unsecured finance lender.in addition I have contacted the Better Business Bureau and my local congressman. They are currently helping me get them to co-operate. I highly recommend that anyone having similar problems do the same. I also recomend you write to J Reddam, the President of Cash Call (a race horse owner and previously owned Ditech) and tell him how you feel about these abusive lending practices.
I look forward to seeing more rebuttals that talk about a class action suit to stopthese type of predatory lending practices
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