How To Get Out of a Cash Call Loan

Cash Call is a lending agency that offers personal signature loans to people who reside in California, Idaho, New Mexico and Utah. Most people who have signed up for loans under this agency swear that they made a mistake. They feel that the agency is a rip-off and a loan shark. The Cash Call loan they have applied for has placed them in a deeper financial mess rather than helping them with their financial worries.

There is really no way out of a Cash Call loan, but to aim for a pay-off at the soonest time possible to prevent interest rates from rising. You may feel badly that for your $2,600 loan, you will actually be giving back close to eleven hundred dollars because of the huge interest rate. What is more important is that you get out of the loan as soon as possible and stop them from getting more than what you owe them.

Here are some options to raise funds to pay off your Cash Call loan:

  1. Seek help from a debt consolidation company. Are you tired of Cash Call agents and collectors harassing you? It is time to find an agency to act on your behalf and this is what a debt consolidation company is for. Find a debt consolidation company either from the Internet or within your locality. Ask for a consultation session when you can tell them how much your liabilities are and how much money you can actually pay for what you owe. Being experts in the field, debt consolidation officers will know what to do. Once you let them handle your account, you will be agreeing on an amount that you will pay to their agency monthly. They will be the ones to pay Cash Call and act on your behalf. Students, senior citizens, and military personnel (both retired and enlisted) may request for their fees to be waived. This is in accordance with the Fair Share and Grant Program. You may be adding additional fees to pay your Cash Call loan, but at least you will not be dealing directly with Cash Call collectors anymore. It spares you from the stress and the hassle.
  2. Apply for cash out refinancing from your home mortgage and use this to pay off your Cash Call loan. Talk with your mortgage lender and inquire about cash out refinancing. Once your lender has informed you that you are qualified for one, they will give you the money outright. This amount will be added to your existing loan. However, remember that cash out refinancing also has associated fees that you will shoulder. It will still be lower compared to the interest rates that your Cash Call loan will incur once you default on your payments.

Payday loans or personal signature loans such as Cash Call loans are not advisable and they should not be treated as an answer to your current financial crisis. Learn from your experience and never make a Cash Call loan again.



Share this article!

Follow us!

Find more helpful articles: