Posted by DaveCA/CA on 6/7/11 7:48pm
Msg #385418

Cash Call advertising 125% second loans

I don't know if they are only located in CA but I heard their commercial today and couldn't believe it. Went to their website (cashcall.com) . They are showing 18% Interest Rate and 5.5 points to get the loan. I wonder how many people will go for these.

Reply by jba/fl on 6/7/11 9:03pm
Msg #385431

The same people who are using check cashing services and payroll advances. Sad, as they just can't hope to get ahead.

Reply by Shoshana/AZ on 6/7/11 10:15pm
Msg #385435

Payroll advances are illegal in AZ.

So they all changed to vehicle title loan businesses.

Reply by 101livescan on 6/8/11 8:58am
Msg #385468

Sickening. Some people have no prayer of riding this poor economic cycle out because of job losses, BKs, divorces, etc. I thought 10% was the ceiling on hard money loans, but apparently there is some loop hole.

Reply by Teresa/FL on 6/8/11 12:19pm
Msg #385525

Do you have AMSCOT Financial in your area?

They are running a TV commercial where a young man boasts about taking out a payday loan instead of asking his mother for a loan. The mother is proud of her son for making such a "smart" decision...

I know people who have gone this route and regretted it. They said it took forever to pay back the loan because of the high fees. If I needed money, this would be my last choice, especially if I had family that was able to lend it to me instead.

I've also seen lots of advertisements for car title loans, but don't know what terms are being offered. Thankfully, I do not have a need for these loans.

Reply by jba/fl on 6/8/11 12:24pm
Msg #385529

Legal loan sharking. n/m

Reply by MW/VA on 6/8/11 2:21pm
Msg #385543

Wow. Disgusting, but there's always a sub-prime market. n/m