I took a loan with cashcall 2 years ago for $5,000 at 59.95% APR. I have made 23 consecutive on-time monthly payments of $254.03 totaling $5,851.01. Last month was the first time i was unable to make my payment. I talked to several reps of cashcall. Today i was told that i did not meet their hardship requirements for deferment or interest reduction. They then told me my loan payoff balance was $5,400. I was told by the man helping with the loan origination that the interest would NOT be loaded on to the front of the loan but rather this was a simple interest loan. Put simply, the earlier i paid of the loan the less interest i would pay. It seems i was misled.
0 comments