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Wednesday, November 15, 2006

Comments

Bob

Thanks for your post, Goldenboy. It gives valuable insight to behind-the-scenes goings on of unscrupulous lending houses.

Goldenboy

I know that this post was done a long time ago, but I stumbled across it and wanted to respond. I used to work for CashCall as a collector some time ago. I've been in this business for more than ten years and I couldn't believe the illegal tactics that go on there. It was so blatent, and also encouraged by management. Another reason they are so scandalous is because they offer the collectors a very big bonus structure, but only a few people can make the big money. So the collectors end up using all illegal tactics to collect the bill, or just make the payments themselves. Yes, themselves! Sounds crazy, but it is very true. As a collector, you usually never feel bad for the customer, but with these people I did. Only because it was a loan that would never get paid. 98% interest, 60% interest. Come on. But, they are having trouble. They are laying off many of there collection force, due to the fact that their delinquency percentage skyrocketing. If it were me, and I had a debt with them that was 30,60, or 90 days late, I would record every conversation I had with them. It is guaranteed that the collector will violate the FDCPA.

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