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Hello, I need to find a way to eliminate a predatory loan.

Hackensack, NJ |

I took out a loan for approx. $2600 at a rate of 139% out of desperation originally with Western Sky which then sold my loan to Cash Call which has been charged or sued by the CA attorney general's office for predatory loans and their subsequent practices. This loan is killing me (paying $294 per month which I can ill afford). I need to find out how to get rid of this loan and if the interest rate they are charging is illegal (loan sharking/usury). I can provide the loan documents if requested. For details about the CA Atty Gen's case you can review the info on their web site - they have the complaint and final judgment on their site.

Attorney Answers 2


You need to contact an attorney to handle this; this forum is intended for more general questions/answers.

I'd think you'd want to act quickly.

The foregoing is not legal advice, and nothing in the foregoing shall be deemed to create an attorney client relationship. If you feel you need to speak with an attorney regarding your issue, it is recommended that you contact an attorney with expertise in your area of inquiry. The information related above is purely for informational purposes, and should not be acted upon without speaking with qualified counsel familiar with you specific situation and the laws related thereto.

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Whenever you accept a loan for which the lender expects repayment, you must carefully review the loan terms before you execute the paperwork. Don't let any promise to cure your short term need for cash turn into a longer term bigger problem.

I don't know if usury laws protect you against your original lender. I am not entirely confident that Western Sky is subject to any State or federal jurisdiction. Perhaps a case can be made that soliciting borrowers in NJ should subject your lender to NJ's usury laws (as well as to other banking and loan regulations.) Depending on the seriousness of your situation you may want to consider bankruptcy. At this point I strongly recommend you bring all your paperwork to an attorney for review.

Disclaimer: For a free consultation contact me directly at 973-519-0196 or If this answer was helpful, please mark it as helpful or as a best answer. Answering questions on does not create an attorney-client relationship. You are strongly encouraged to seek and retain your own counsel. Information and answers posted to this website are for general informational purposes only.

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