I took out a loan with CashCall in June of this year. Recently, I had a hard time getting onto their website to check my balance. I thought that maybe there was another address that I could use to contact them, so I typed in their name. Turns out that there was only one address, the same one that wasn't working. Right under their address, I found usacomplaints.com, so I clicked on it, out of sheer curiosity.
Let me just say that if I had seen this report before I took out the loan, I would have taken my business elsewhere. I was shocked to find out the things that this company is doing to its' customers.
I read several reports that stated that CashCall had taken money out of their accounts without them knowing and that they had had checks bounce and such. I was curious about this, because at the time when I read all of these, I still had automatic payments set up with them. I logged onto their website, when it finally was working, and read a copy of my loan documents.
At the very bottom of the papers, it says that if you have automatic payments set up, you are giving them permission to deduct your monthly payment, but you are also giving them permission to deduct money when you owe any kind of fees or are past due. Which in turn means that they can take money out of your account whenever they want to, which in my opinion is completely ridiculous! It is as if they think that you have all kinds of money sitting in your account and they can just take it whenever they want. They don't think that maybe if you aren't paying your payment on time, it may be because you don't have the money to give them.
Well, needless to say after reading all of these reports, I was worried that they would start taking money out of my account that I didn't have in there.
The first thing that I did was call CashCall and they told me to fax a letter saying that I wanted to stop the automatic payments, which I did. I called them back and they verified that they had received my letter, and a few days later I got a statement in the mail saying what my payment was and such. There was also a seperate letter asking me if I wanted to set up automatic payments... Duh... NO! Based on the reports that I have read about them, I wasn't going to just take their word for it that they wouldn't take money out of my account any longer, so I also made a trip to my bank.
For a small fee, I was able to fill out a paper stating that I did not want any money taken out of my account by this company. They very well may have left my account alone, but I didn't want to take a chance, I would rather pay the small fee then hundreds of dollars in fees.
So, the purpose of this is to warn people that if you are signed up for these automatic payments, you are asking for trouble. The minute you fall behind, they are going to go into your account to get their money. I would advise that anyone who has a loan with these people should get it paid off ASAP, but until then, don't give them permission to take money from your account whenever they want. Cancel your automatic eft payments!!!
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