When I bought my restaurant, I needed some extra cash for remodeling, repairs and business expenses. I couldn't get a local loan so I went through cashcall. Two years later I have paid $9473.53 into a $10,000 loan. I have never had a late payment. I now owe $9681.37. I never thought this could be legal in America. This is no loan. This should be illegal. No matter how badly you need money, do not use cashcall. This is such a ripoff. How is this company allowed to charge such rates? When I called cashcall for my balance I was floored. I have never gotten statements in the mail. Cashcall takes the fees directly from my bank account. When I asked what my interest rate is I was told it is 39% daily. Of my $332.15 monthly payment the average interest taken out is $320. This should be illegal but like everything else in America, Screw the little guy. They prey on lives. Do not use cashcall!
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