About a year ago I called Cash Call about the loan I had with them and asked them how much my balance was on the $2500 loan I had with them. The person on the phone told me I owed roughly about $2500. Knowing fully well that my interest rate was 96% I figured I had about a year on the loan and that I had paid off the interest and now was paying toward the principle.
Fast forward to now: I called Cash Call 2 days ago and asked them about my loan and they said I owe them approx. $2200 and that my loan was at 96% and that I had paid $5,000 change. I said to the operator "$2500 @ 100% is $5,000." She said I was wrong and that the contract I had signed was for 43 months at $216.55 a month, and that at the end of 43 months I will have paid over $9,000.
Yes, I did sign a contract, but the whole transaction was done so quickly (within a 10 hour period) I had no time to read the small print, nor was I TOLD the loan would be over a 43 month period, nor that the end result would have been that I had paid over $9,000.
This is highway robbery and has to be illegal, let alone immoral and unscrupulous.
DOES ANYONE HAVE A CLASS ACTION SUIT I CAN JOIN IN ON and bring these slime balls down???
As far as I am concerned my debt is paid, and I feel guilt free that today I am calling my bank and telling them not to pay any more payments to Cash Call.
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