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Cashpoint / Predatory Car Title Lender

1 VA, United States Review updated:

Their interest is so HIGH you can never pay off the principal(30% compounded Daily), so you end up losing your vehicle.There is no cut-off on the balance, it will build up over the value of the car .

Br
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Comments

  • Ca
      25th of Feb, 2011
    0 Votes

    Stay away from Chashpoint at all costs!!! They are VERY nice to you when you first come in to get the loan but if you are late by a day, you will be called and told that you are automatically two payments behind. If they cannot reach you INSTANTLY, they will immediately call the contacts you listed on your application form. Get a loan from family, friends or sell items if you need cash but stay away from this company if you cannot make full payment in a month!

  • Ca
      3rd of Mar, 2011
    0 Votes

    I have made the ultimate mistake of going to cashpoint for a loan to pay my rent due to job loss. I thought I would quickly pay it off once I started working again. Since the montly interest payment is as much as I would pay to rent a room, I decided to sleep in my car until I could finish paying back the loan (cannot pay both the car loan and rent a room at the same time on what I make). Though I used everything i got from my tax return on the loan, I'm still not close to paying it off. At this point, I have paid three times what I borrowed. ARE THERE MORE PEOPLE IN THIS SITUATION OUT THERE IN THE NORTHERN VIRGINIA AREA? CAN WE ALL GET TOGETHER AN DO SOMETHING ABOUT IT? Thanks for your time and input!

  • Sc
      5th of Mar, 2011
    0 Votes

    I'm caught up in the same crap. A company called Car Cash in Va beach Va. They close your PO box where you make payments, disconnect there phone lines, cancell there email all so they can let interest accrue. Then they Levy your bank account and garnish your wages. Still cant find them. Law makers in Virginia have bumped there heads. These companies need to be shut down immediatly. Esspecialy since this company targets our military families. We elect people to make the rite decitions and to pass laws that protect the people. Law makers, what happened in Virginia? Are you even Americans. This is a discrace to Democracy and Capitolism.

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