Speedy Cash Reviews

A payment was rejected from my account Nov. 15 because of insufficient funds so I received a call from Speedy Cash Corporate Office (800) 273-5602. I told them that I would go into the store to make payment. I then asked Corporate how much was still owed on the loan, because I had already paid $782.82 and figured that I had only one more payment of $130.47 and the loan would be completely paid. That was when I was informed by Corporate that I still owed $967.18 with an interest annual percentage of 389.428% and finance charges of $3,886.96 with a total payment of $4,694.96 and it could not be paid off until Jan. 2011.

I then informed Corporate that that was not explained to me and I was only given the signature portion of the agreement to sign with the understanding that it was like the previous $500 loan that I had taken out before which had been paid off. Corporate told me to go into the store and talk the Sherri ** in which I did go to the store but Ms. ** was not there. I was then given a copy of the full loan agreement and and a break down of the Loan Repayment Schedule by Damon **. This is fraud because it was not explained about the interest rate and initially, I was just given the signature copy of the loan. I need to know what can be done about this.

When the employee was calling for information about my title, Dana wanted to talk to me about why I was changing companies. I told her because the finance charge was too high. She then said, "Well, you'll have to have $500 to pay it out." I informed her of what the advertisement said. She then said, "Well, we don't do that anymore. And it's not in the 2010 AT&T telephone book." At TitleMax, I asked for an AT&T telephone book for 2009 and 2010 (page 290) - the advertisement was in both books. After I finished the application at TitleMax, one of their employees went with me to the bank and to Speedy Cash (to pay them for the title so they can hold it).

When I got there, Dana was on the phone to her manager. I asked to speak to the manager. She hung up. I then asked again to speak to the manager. I showed her the 2010 AT&T telephone book where the advertisement was. She called her back, but told me she was on her day off and will not be in. I still did not get a chance to speak to the manager. Then Dana said, "We don't do the 30-day free interest pay back anymore." Dana also said that if I was going to pay it out within 30 days, I would have had to fill out a card stating so. She never showed me any such card.

Nevertheless, before TitleMax could get the title, I had to pay $500. Also, leaving the Speedy Cash office, I took pictures of the front. They do not have any sign stating they are not doing the 30-day free interest anymore (not sure how clear the picture is as I took them with my camera phone) but the TitleMax employee was there and I asked her if she saw any sign out front or inside stating that they are not doing the 30-day interest free re-pay. She said she didn't. Later that evening, I was in a store talking about the event and a gentleman said his brother went through the same thing with them four months and he had to pay the interest also. And it took three months before he got his title back. Times are hard and to have to pay out more than what you need to pay is not fair.