Speedy Cash Loans Review: Rates, Risks & Alternatives

Being financially strapped feels overwhelming. Living costs rise while the economy struggles. Staying afloat gets harder every day.

Many consumers turn to payday loans for quick cash. These short-term, high-interest loans come due on your next payday.

Sued by Speedy Cash? Respond Before Your Deadline

Missing your court deadline means automatic judgment against you. Our partner Solo helps you respond to Speedy Cash lawsuits and negotiate settlement offers that work with your budget.

Respond to Lawsuit

Speedy Cash is one of these online lenders. But payday loans carry serious risks. You need to understand what you’re getting into before signing anything.

What Is Speedy Cash?

Speedy Cash is a direct lender that’s been around for over two decades. The company operates 161 locations across 11 states. Texas has the most stores with 54 locations.

Beyond payday loans, Speedy Cash offers multiple products:

Title loans
Installment loans
Lines of credit
Check cashing
Money orders
Prepaid cards

The lender belongs to the Online Lenders Alliance (OLA). The OLA promotes business security standards among member companies.

Contact Information

Phone: (888) 333-1360
Office: 6300 E 21st St N Wichita, KS 67208-1808
Website: www.speedycash.com

How Much Can You Borrow?

Loan amounts range from $100 to $5,000. Your state determines the maximum amount available.

The catch? Interest rates are extremely high. Annual percentage rates (APR) range from 132% to 680.7%. That’s predatory lending territory.

Payment plans vary by state laws, borrowed amount, and loan term. But one thing stays constant: high interest rates.

Major Drawbacks

Origination fees that add to your cost
No soft credit pull option for pre-approval
Installment loans aren’t reported to credit bureaus
Steep late payment charges

What Do Customers Say?

Customer reviews paint a concerning picture. The Better Business Bureau page shows mostly negative feedback.

Common complaints include high costs, poor service, and inflexible payment schedules. The past three years show consistently disappointing reviews.

The BBB issued this alert about Speedy Cash:

“BBB Serving Southeast Texas conducted an investigation upon receiving allegations involving contract inconsistencies. Individual payments drafted monthly were delayed and drafted in one lump sum. BBB had concerns regarding consumers’ inability to receive clarification on interest rate calculations.”

“Speedy Cash failed to provide BBB with requested information. BBB advises consumers to consider other sources before deciding on a payday loan.”

You have rights under the Fair Debt Collection Practices Act (FDCPA). If Speedy Cash contacts you about a debt, you can request validation.

What Happens If You Can’t Pay?

Payday loans are meant for quick repayment. But life doesn’t always go according to plan.

Missing payments on high-interest loans creates debt fast. The balance grows quickly and feels impossible to tackle.

Speedy Cash may sue you for unpaid debt. If you receive a lawsuit notice, you must respond within your state’s deadline.

Missing this deadline results in a default judgment. The court rules against you automatically.

How to Resolve Speedy Cash Debt

After responding to a lawsuit, consider debt settlement. Our partner Solo helps you negotiate with collectors.

Debt collectors may accept less than you owe. You’ll need to demonstrate financial hardship convincingly.

Settlement negotiations require proper legal language. Professional help improves your chances of reaching an agreement.

Real-Life Example

Nancy borrowed $500 from Speedy Cash. Health problems struck unexpectedly. She fell behind on payments because of crushing interest rates.

Debt collectors called constantly. Eventually, Nancy received a lawsuit notice.

She responded to the lawsuit through our partner Solo. Then she negotiated a settlement offer. The collectors heard her situation and agreed to a new payment plan.

They forgave some interest charges. Nancy got back on track within months. The case was dismissed.

Alternatives to Speedy Cash

You should explore all options before taking out a payday loan. Here are similar lenders to consider:

Advance America: Offers payday, installment, and title loans across multiple states
Check Into Cash: Provides online and in-store payday loans plus other services
Check ‘n Go: Well-known payday lender with installment loans and check cashing
Ace Cash Express: Offers payday, title, and installment loans
LendUp: Online lender helping borrowers build credit over time
CashNetUSA: Provides payday loans, installment loans, and credit lines
OppLoans: Offers installment loans with slightly better terms than payday loans
Rise Credit: Provides online installment loans
Oportun: Focuses on affordable loans for people with limited credit history

Better Options to Consider

Short-term, high-interest loans trap borrowers in debt cycles. Breaking free becomes extremely difficult.

Read all terms and conditions carefully before borrowing. Better alternatives exist that won’t destroy your finances.

Smarter Borrowing Options

Credit union loans: Much lower rates and better terms
Personal loans: Longer repayment periods with reasonable interest
Family or friends: Interest-free borrowing from people who care
Payment plans: Negotiate directly with creditors for existing bills
Community assistance: Local programs may offer emergency funds

These alternatives offer better terms and fewer risks. They won’t trap you in endless debt.

Protecting Your Rights

Debt collectors must follow strict rules. The FDCPA protects you from harassment and unfair practices.

You can demand proof of any debt they claim you owe. They must stop contacting you while investigating your request.

Understanding your rights puts you in control. Debt collectors can’t bully you when you know the law.

If Speedy Cash or any collector sues you, respond immediately. Our partner Solo makes the process straightforward and affordable.

Frequently Asked Questions

What is the maximum amount I can borrow from Speedy Cash?

You can borrow between $100 and $5,000 from Speedy Cash, depending on your state laws. However, interest rates range from 132% to 680.7% APR, making these loans extremely expensive to repay.

How do I respond if Speedy Cash sues me for unpaid debt?

You must file an Answer with the court within your state's deadline, which varies by location. Our partner Solo can help you respond to the lawsuit with proper legal language and negotiate a settlement to resolve the debt for less than you owe.

Can I negotiate to pay less than what I owe to Speedy Cash?

Yes, debt settlement is possible if you demonstrate financial hardship. Collectors may accept a lower amount or create a new payment plan. Professional help improves your chances of reaching a favorable settlement agreement.

What are better alternatives to Speedy Cash payday loans?

Credit union loans, personal loans, borrowing from family, and payment plans with creditors offer much better terms. These options have lower interest rates and won't trap you in a cycle of debt like payday loans do.

Speedy Cash Loans Review: What You Need to Know Before Borrowing