Cash Call is backed by a bank and is not a payday loan company


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To all those looking for information regarding Cash Call:
Cash Call is NOT a payday loan! They are backed by a bank.
Federal Law allows them to operate when backed by an FDIC insured bank in any state without a seperate license. Federal law also allows them to import the interest rates from their home state.
Since they aren't a pdl, they don't follow the same laws. Cash Call will sue someone if they don't pay, and they will win because they are 100% legal.
Since Cash Call are backed by an FDIC insured bank, usually First Bank of Deleware, they are allowed to import their interest rates from their home state. So the interest rate of 99.24% is totally 100% LEGAL.
Cash Call sucks! They are evil, evil, evil. If you don't pay them, they will sue you. But they won't sue you right away. They will wait a few months so that your balance ballons up, then sue you because they know that once a judgement has been entered against you they will not get their 99.24% interest any longer.




stel
Posts: 13
Credits: 380.5

Sub: #1 Cashcall or Western Sky claims in their contract to "...[FONT=Ve
Fri, 11/04/2011 - 14:13

Cashcall or Western Sky claims in their contract to "...[FONT=Verdana][FONT=Arial][SIZE=3]subject solely to the exclusive laws and jurisdiction of the Cheyenne River Sioux Tribe, Cheyenne River Indian Reservation. By executing this Loan Agreement, you, the borrower, hereby acknowledge and consent to be bound to the terms of this Loan Agreement, consent to the sole subject matter and personal jurisdiction of the Cheyenne River Sioux Tribal Court, and that no other state or federal law or regulation shall apply to this Loan Agreement, its enforcement or interpretation."[/SIZE][/FONT][/FONT]


[FONT=Verdana]Further, there is no mention of the First Bank of Delaware anywhere in my contract.[/FONT]


[FONT=Verdana]They have no license in Florida to make loans, therefore, they are an illegal lender.[/FONT]

Finally, the FTC is suing them...http: //www.ftc.gov/os/caselist/1123023/110912paydaycmpt.pdf




Unregistered

Sub: #2 What bank is CashCall backed by?
Wed, 07/06/2011 - 08:52

What bank is CashCall backed by?




lrhall41
Posts: 245
Credits: 6478.65

Sub: #3 Goodah, I talked to my State Department of Financial Regulations
Tue, 07/05/2011 - 08:13

Goodah, I talked to my State Department of Financial Regulations and was told by them that Cash Call is not licensed to operate in Florida. that it didin't maater if they were payday loans or regular loan companies, they still need to be licensed in oder for them to collect.
Is this correct?
Thanks




postlinda1885
Posts: 23
Credits: 1105.25

Sub: #4 i have a bigger problem now, cashcall has my loan, first i had b
Sat, 05/21/2011 - 16:56

i have a bigger problem now, cashcall has my loan, first i had borrowed from westernsky fin, then they turned it over to cashcall, i live in new york, i know that westernsky fin is not legal in my state, do i have to pay these high fees,

anmy




Anna Sweeting
Debt Samaritan
Posts: 1827
Credits: 38569.2

Sub: #5 Unable to pay off the payday loans is not a criminal offence. It
Wed, 05/18/2011 - 01:02

Unable to pay off the payday loans is not a criminal offence. It is a civil offence. So, your payday lender won't be able to take you to jail.




Unregistered

Sub: #6 cash call is trying to get me for 300.00 loan and trying to make
Tue, 05/17/2011 - 18:48

cash call is trying to get me for 300.00 loan and trying to make me pay 900.00 hundred and if i don't there threating me that there going to put me in jail... and that i old 8,000.00 grand after that.. is that true? cash call suck!!!!




sdchargers_63
Debt Samaritan
Posts: 1798
Credits: 17917.45

Sub: #7 Yep..I've dealt with Cash Call, as well. They will make up every
Sat, 10/02/2010 - 03:47

Yep..I've dealt with Cash Call, as well. They will make up every threat to gt you to pay. They tried to take out MUCH more, per month, than I agreed to. I stopped payment on them and the issue just got worse. I haven't dealt with them for about 4 years now. They actually had told me, at one time, "tey would show up at my door and take evrything I owned." NEVER heard from them, since then. The % is horrible!!




OhioGal1


Debt Samaritan
Posts: 5255
Credits: 83043.646477606

Sub: #8 Please do not post duplicate info in more than one thread. You
Wed, 09/22/2010 - 10:50

Please do not post duplicate info in more than one thread. You have answers posted in your original post. It confuses people when you ask the same question in more than one thread.

How to Deal with Unlicensed/Illegal Payday Lenders - Step by Step Instructions

I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.




Unregistered

Sub: #9 i'm concerned because i borrwed from first national fund and i'm
Wed, 09/22/2010 - 09:27

i'm concerned because i borrwed from first national fund and i'm hearing similar things about them, does anyone know? they're located in sandy UT.




Shazzers


Posts: 17425
Credits: 159275.2

Sub: #10 Quote:Originally Posted by Anonymoushow can you tell if they are
Thu, 08/26/2010 - 20:13

Quote:
Originally Posted by Anonymous
how can you tell if they are real officer of the court cause i ask to speak to an supervisor and i swear it was the same person what can they do to you if you don't pay a payday loan

Call your local civil court and ask if there is a case pending.

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