Quick Answer: How Can I Get Out Of A Speedy Cash Loan?

How does Speedy Cash verify income?

Income information including your income type, employer information (if applicable), your pay frequency, and your income amount (some states may require income verification, in which you will need to submit a payment stub or copy of a bank statement).

What happens when you refinance a loan with speedy cash?

Refinancing your loan starts a brand new loan term with the original principal amount borrowed, in which you will pay finance charges on. If you choose to refinance your payday loan, then you will only pay your finance charges on your due date, and your principal balance will be rolled into a new term.

Is Speedy cash a direct lender?

Speedy Cash – Your Direct Payday Lender Speedy Cash offers a 100% online payday loan application that is encrypted for your security.

How much money can you borrow from a payday loan?

How Much Can I Borrow with a Payday Loan? The average payday loan is $350 on a two-week term, according to the CFPB. But payday loans can range from $50 to $1,000, depending on your state’s laws. Currently, 32 states allow payday lending with a capped maximum loan amount.

What happens if you default on a speedy cash loan?

A payday loan default can lead to a barrage of bank overdraft fees, constant collections calls, damage to your credit scores, a day in court and garnishment of your paycheck.

How much can you borrow from Speedy Cash?

Installment Loans Online and In-Store up to $5,000 | Speedy Cash.

Will Speedy Cash approve me?

You’ll prove your eligibility with a valid ID that shows you are at least 18 years of age, and you’ll provide proof of recurring income and updated contact information, such as a working phone number.

Can you have 3 payday loans at once?

3) Limits on number of loans: If a borrower takes out three payday loans in “quick succession,” lenders must cut them off for 30 days. Also, unless they can prove an ability to pay it all back, borrowers cannot take out more than one payday loan at a time.

Does Speedy Cash affect your credit?

Speedy Cash will perform a credit check once you apply — which could negatively affect your credit scores by a few points.

How long does it take to get money from Speedy Cash?

15 minutesHow quickly can I get my cash with instant funding†? Most funds are deposited within 15 minutes of loan completion. Loan completion means that you have been approved for the loan, have signed your documents online, and have selected instant funding as your funding method.

Can speedy cash garnish my wages?

A payday lender can only garnish your wages if it has a court order resulting from a lawsuit against you. If you don’t repay your loan, the payday lender or a debt collector generally can sue you to collect. … Wage garnishment happens when your employer holds back a legally required portion of your wages for your debts.

How does speedy cash line of credit work?

What is a line of credit? A line of credit loan from Speedy Cash is similar to a credit card. You apply once and can draw funds as often as you need up to your credit limit. … A credit limit – credit line – is the amount that you’re approved to borrow.

How do I cancel my speedy cash loan?

Send by faxing to 1-316-494-6596 and request to cancel the Agreement. The Fax must clearly read that you want to rescind the Agreement and request that the Loan proceeds funds are to be immediately and electronically withdrawn from your account by us. B. E-Mail.

What happens if you don’t pay back a speedy cash loan?

If you’re in need of some fast cash to make it to your next paycheck, you may be thinking about taking out a payday loan. … If you can’t pay back a payday loan, the account may be sent to a collection agency, which will damage your credit.

Is speedy cash loans legit?

Speedy Cash offers customers quick funds up to $26,000 both online and in stores. … While its interest rates are high, Speedy Cash is a legit option for people who need cash fast and can pay it back within the allotted time.

Can you go to jail for payday loan?

The Consumer Financial Protection Bureau, which is responsible for regulating payday lending at the federal level says “No, you cannot be arrested for defaulting on a payday loan”. A court can only order jail time for criminal offenses in the US, and failure to repay debt is not a criminal offense.

Can I take out two loans with speedy cash?

A: You cannot have multiple installment loans open simultaneously with Speedy Cash. However, you may be able eligible to get another loan – such as a title loan or payday loan – that you can have while also having an open installment loan.

How does Speedy Cash work?

These loans are designed for Customers who need an advance on their next paycheck. Loans are short term and are the fastest loan option available to our Customers. You’ll need your valid ID, proof of income, and a checking account. Best for emergency cash, such as new tires or an unexpected doctor’s visit.