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CashCall Inc is a lending company that was founded in 2003 and is based in Orange, California. It offers several loan products, including unsecured personal loans, small business loans, mortgage loans, and debt settlement services. Loan amounts, products, and terms vary. 

In this review, we will be focusing on the lender’s personal loan products. Click for additional CashCall reviews: CashCall Business Loan ReviewsCashCall Mortgage Loan Reviews

CashCall is no longer accepting personal loan applications after recent legal trouble.

Here are a few of the lender’s recent legal issues regarding its lending practices: 

  • December 2013 - The Consumer Financial Protection Bureau (CFPB) took action against CashCall, for debiting customer accounts for loans that were void. The company was working with Western Sky Financial, an online lender based in South Dakota. As a tribal lender, although Western Sky’s local loans didn’t have to meet state regulation, online loans to residents of other states did. 
  • February 2017 - Georgia Attorney General announced a settlement with Western Sky Financial LLC, CashCall Inc, and related entities in the amount of $40 million. The settlement also included a $1 million civil penalty and $500,000 to be paid for attorney fees. 
  • August 2018 - In the case of De La Torre v. CashCall, Inc (2018), the California Supreme Court made a landmark decision when it held that high interest rates alone could render loans “unconscionable” according to state law. 
  • March 2019 - Borrowers in California have re-filed a class action suit in San Mateo Superior Court, arguing that the company’s signature loan was “unconscionable” due to its interest rates, repayment schedule, and monthly payment amounts.
  • March 2019 - The Arizona Attorney General’s office filed a civil lawsuit against CashCall, the company’s owner J. Paul Reddam, and a subsidiary called WS Funding LLC, for violating the Arizona Consumer Fraud Act because loans funded there were illegal under state usury laws. 

If you need a cash advance or are looking for personal installment loans, check out the more reputable consumer loan options we have reviewed:

View Best Payday Loans

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The Good

  • Longer Loan Repayment Terms
  • Easy Application and Fast Approval
  • No Early Payment Fee
  • User-Friendly Website
  • Consumer Credit Reporting

Longer Loan Repayment Terms

CashCall offers consumer loans with long-term, scheduled monthly payments, instead of short term 14- or 30-day repayments like most other payday lenders. Terms range from 47 to 120 months, depending on the amount of the loan. It offers loans to borrowers who need help rebuilding or establishing their credit.

Easy Application and Fast Approval

While CashCall does not have any physical stores, it makes applying for a loan easy by offering the option to process a loan application online, over the phone, or via fax. The application process includes filling out a simple form with your name, address, and email, as well as providing a statement of an active bank account, proof of income, and proof that you are at least 21 years old. Then, CashCall will have an agent contact you to verify your information and tell you if you have been approved for a loan. You find out within minutes. 

Funding can take as little as four hours. So, if you apply by 1:00 pm PT, you can usually get the funds the same day as you apply. Otherwise, the funds are deposited directly into your account within 24 hours of approval. 

No Early Payment Fee

Repayment is automatic. CashCall debits your account every month for the agreed-upon amount. If you are able to repay the loan in advance, there is no early repayment penalty.

User-Friendly Website

CashCall's website is clean and easy to navigate. In addition to the easy online lending application, it has a customer login area where you can monitor your loan account, payments, and dates.

Consumer Credit Reporting

When it comes to CashCall personal loans, repayment is reported to the major credit bureaus. So, you can benefit from using this lender, if you make payments on time. However, if you don’t pay on time, it will hurt your credit score. 

Credit reporting isn’t always a given with online lenders, so it's nice that CashCall gives customers the option to build credit history, even with bad credit loans.

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The Bad

  • Legal Issues
  • High APRs and Fees
  • Limited Info Available
  • Online Applications

Legal Issues

Reports state that sixteen states have filed suits against CashCall since 2013. The suits cite that CashCall did not have a license to issue small loans, that CashCall used third-party lenders without informing consumers in advance, and that CashCall and purchased, serviced, and collected on illegal loans. The suits also cited violations of state laws for lending, collecting and interest rate practices.

High APRs and Fees

CashCall's APR rate ranges from 35.87% to 204.94% depending on the amount of the loan and state you reside in, which are much higher rates than those found with other types of loans. In addition to the APR rate, CashCall charges a $75.00 loan fee.

Limited Information Available

CashCall has limited information available on their payoff options. Meaning customers might not have a clear understanding of their responsibilities as a borrower. More transparency would be helpful for current and potential customers. 

Online Applications

Currently, it appears that personal loan applications have been deactivated on the CashCall website. It only gives three options: existing customers can log in, and others can either call to speak to a customer service agent or request a callback

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The Bottom Line

Unfortunately, CashCall has a long list of lawsuits and complaints from aggressive collection tactics.

If for some reason you fall behind on your payments, be warned that this company will do just about anything to get their money back. This is scary. CashCall has some major improvements to be made before they will be a recommended payday loan company. Look elsewhere for your cash needs.

CashCall personal loans are no longer offered. Try a more reputable lending business: 

View Best Payday Loans

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