Yes, Speedy Cash is a real loan company. They are a financial services company that offers short-term lending solutions and other financial services to customers in the United States, Canada, and the United Kingdom.
They provide customers with payday loans, installment loans, title loans, check cashing, and more. They also offer a variety of payment solutions such as debit cards, cash reloads, and cash advances.
As an accredited business with the Better Business Bureau, the company is dedicated to providing customers with total financial solutions in a secure and responsible way. All of their loans come with flexible payment options, competitive rates, and helpful customer service.
Does everyone get approved for Speedy Cash?
No, not everyone is approved for Speedy Cash. The application process evaluates certain requirements and criteria, and some applicants may not be approved. In order to apply, you must be at least 18 years of age, have a valid government-issued photo ID, and provide an active checking account in your name.
You also must have a steady source of income to prove your ability to repay your loan. Additionally, depending on your state, you may need to provide additional documentation. Whether or not you are approved for a loan ultimately depends on the outcome of your application, which is evaluated by Speedy Cash’s discretion.
Is there a lawsuit against Speedy Cash?
At this time, there does not appear to be a current lawsuit against Speedy Cash. However, there is a significant amount of customer dissatisfaction according to online customer reviews. Customers complain of high fees, lack of customer service, and the inability to meet their needs.
It is possible that individuals may seek legal action in the future to challenge some of these issues, although no lawsuit has yet been filed at this time.
What happens if you don’t pay back a Speedy Cash loan?
Failure to repay a Speedy Cash loan can have serious consequences. Depending on the terms of your loan, your lender may choose to take legal action to recover the money you owe them, which can include garnishing your wages, filing a lawsuit and/or reporting the delinquent loan to credit bureaus.
Failing to repay the loan will also damage your credit score, which may make it more difficult to obtain credit in the future.
Speedy Cash also offers repayment plans to help customers who are struggling to make regular payments on their loan. If possible, borrowers should reach out to their lender to discuss available repayment plans and options to avoid falling into delinquency.
Does Speedy Cash run your credit?
No, Speedy Cash does not run your credit. Speedy Cash offers payday loans and other short-term financial solutions, which do not require a credit check. When applying for a loan or other product, Speedy Cash uses state-of-the-art DigiCert SSL security technology to ensure the safety and privacy of your personal information.
This includes verifying your identity and other personal information without a credit check. Therefore, if you need quick access to funds without undergoing a credit check, Speedy Cash might be a good option.
How does Speedy Cash verify income?
At Speedy Cash, we understand that verifying income can be a complicated process. That’s why we make it easy by giving you several options to verify your income.
The first option is to provide your last two pay stubs. This will allow us to instantly verify your income and make a decision on your loan.
The second option is to provide a bank statement. This will let us review your transactions to verify a source of income. Additionally, if you have direct deposits to your bank account, this will help us verify that you have a steady source of income.
The third option is to provide a letter from an employer. This letter should accurately specify your salary and the duration that you have worked for the company.
If you have any questions about our verification process, feel free to contact us. We’re here to help and make sure that you’re comfortable with every step of the loan process.
How do I stop paying speedy cash?
If you are looking to stop paying Speedy Cash, the best way to do this is to contact them directly and make sure that you confirm the process has been cancelled. You can do this by calling them at 866-353-1266 or emailing customerservice@speedycash.
com. Make sure to provide them with your account information and the agreements that you are trying to terminate.
If you are not able to get in direct contact with Speedy Cash, you can try to stop the payments through your financial institution. You may need to provide documentation that the payment was voluntary and not required and then apply for a stop payment, which can take up to several days to take effect.
You may also need to speak with the customer service representative and confirm you want them to cancel the payment.
If you are not able to cancel the payment through your financial institution, you will need to reach out to the creditor and work out a payment plan. This could involve working out some type of repayment plan, negotiating a lower interest rate, or agreeing to a different payment schedule.
It is important to remember that stopping a payment does not necessarily mean that you will be exempt from penalties or fees. Make sure to understand the agreement you have with the creditor and what the consequences would be before you stop the payment.
No matter which way you decide to stop paying Speedy Cash, make sure you keep an accurate record of all contact with the creditor and financial institution. This will be important if there are any discrepancies.
Who is Speedy Cash owned by?
Speedy Cash is owned by Grupo Elektra, the largest Hispanic-owned financial services company in the United States. In the early 1990s, Grupo Elektra began to expand its operations into North America, founding its first U.
S. subsidiary, Grupo Finmart, in 1997. The idea behind creating 11 operating units was to create specialized companies that could respond quickly to customer needs. Part of this strategy was to create a new brand, Speedy Cash, to serve the U.
S. market of unbanked and underbanked customers.
Grupo Elektra has developed a non-traditional, highly cost-effective financial platform that has become a model in the lending industry. In addition to its U. S. operations, Grupo Elektra additionally serves Mexico, Guatemala, Nicaragua, Honduras, El Salvador, Costa Rica, Peru, Panama, Ecuador, Chile, Brazil and Argentina.
The Grupo Elektra family of companies offers a wide range of financial services and consumer goods, with a focus on providing easy access to credit as well as consumer appliances and electronics for underserved customers.
As the philosophy behind Speedy Cash’s success, Grupo Elektra has harnessed the power of technology and expertise to make financial services accessible to anyone, regardless of their economic and social backgrounds.
Who bought Speedy Cash?
In July 2020, Grupo Elektra, S. A. B. de C. V. , a leading consumer finance company in Latin America and one of the largest specialty retailers in the world specializing in consumer goods and financial services, announced the acquisition of Speedy Cash.
Through its subsidiaries and diversified portfolio of brands, Grupo Elektra has become the leading provider of financial services in Mexico and Latin America. The acquisition of Speedy Cash significantly strengthens Grupo Elektra’s U.
S. presence, providing unparalleled payment solutions and access to financial products to meet the needs of Hispanic customers, who are a key part of the population. By leveraging Speedy Cash’s expertise in digital, brick and mortar, tech-enabled payments and financial services, this acquisition will solidify Grupo Elektra’s position as the premier provider of wireless payments and financial products.
Is Speedy Cash USA legitimate?
Yes, Speedy Cash USA is a legitimate lender. It is a direct lender that has been providing financial services since 1997. Speedy Cash USA operates in all states through its own network of stores and online.
They specialize in short-term financial solutions, such as payday loans, installment loans, title loans, line of credit, and more. They have an in-house customer service team and are BBB accredited with an A+ rating.
Additionally, they have a variety of options available and flexible terms, so customers can choose the best solution for them. Their loans offer competitive rates and fast approval times. They also have a wide variety of offers for returning customers that can save customers even more money.
Does Speedy Cash approve everyone?
No, Speedy Cash does not approve everyone. In order to be approved for a loan, borrowers must meet all applicable state and federal regulations and generally, must provide proof of verifiable income, active checking account in good standing, valid state-issued photo ID, and be 18 years of age or older.
Speedy Cash also assesses each loan application based on factors such as credit history, existing financial obligations, and repayment history, and unfortunately cannot guarantee approval for all applicants.
How long does Speedy Cash take to deposit?
It depends on your chosen method of deposit. If you opt to use direct deposit, the funds should be available within 1-2 business days if sent before 5 PM CT on a business day. For those who choose to use a debit card to make their deposit, funds should be immediately available.
Customers should note that Speedy Cash does not deposit funds on weekends or bank holidays.
Can I pay off my Speedy Cash loan early?
Yes, you can pay off your Speedy Cash loan early. Most lenders allow you to pay off the loan at any time without penalty. However, some loans may have a prepayment penalty, so make sure to check your loan agreement to see if this applies.
You can pay off your loan in-person at any Speedy Cash location or online through your Speedy Cash account. Make sure to include your loan account number on the payment for proper credit. If you have any questions about paying off your loan early, you can contact Speedy Cash customer service.
Does Speedy Cash do a hard inquiry?
No, Speedy Cash does not typically do a hard inquiry on your credit report when you apply for a loan. The majority of lenders that Speedy Cash partners with require a soft inquiry as part of the loan application process.
When a lender runs a soft inquiry, they are able to see your credit history without impacting your credit score. Depending on the lender, they may also request additional information such as proof of income or bank statements to approve the loan.
What credit score do you need to get approved with Speedy Cash?
The exact credit score you need to get approved with Speedy Cash will depend on the specific loan you are applying for. In general, the minimum credit score required to be eligible for one of their online loans is 600, though some have a requirement of 550.
Ultimately, this number will vary depending on the type of loan you are applying for and the evaluation of your application.
Before submitting your loan application, it is always a good idea to check your credit score to get an idea of your chances of approval. Your credit score will play a large part in determining the loan terms and conditions you will be able to get.
In addition, it’s important to look into other parts of your financial status, such as your income, employment history, and credit history. All of these factors will be taken into consideration when Speedy Cash reviews and evaluates your application.
Their goal is to ensure that you are able to make your loan payments on time and in full.
If you want to increase your chances of approval with Speedy Cash, it is essential to make sure you manage your credit health and build your credit score. Start by paying your bills on time and ensuring that your debts are paid off as soon as possible.
Furthermore, you should also limit your credit card applications and keep your credit balances low.