Speedy Cash

Date: Tue, 11/06/2012 - 07:56

Submitted by anonymous
on Tue, 11/06/2012 - 07:56

Posts: 202330 Credits: [Donate]

Total Replies: 4

So I had 2 loans with Speedy Cash. Sent emails to request an EPP. No response. Called and was informed that since I had 2 loans only one would qualify for EPP. Was told that they would remove all my banking info, debit card, checking info on 10/31/12. Was assured that both loans would now go into default on 11/05/12 since that was the due date and I should call in on the 6th to work out something with their collection department. Well logged onto their site this morning and one loan showed default and the other showed ach pending. Looked at my checking account and sure enough they had sent it through. I called in and they had no answer as to why this happened. Anyway, I was able to get them to split up the one in default into payments that I can handle. Lesson learned, I should have closed my checking account.

Yes, you should have closed the account earlier only.

lrhall41

Submitted by anonymous on Tue, 11/06/2012 - 21:52

( Posts: 202330 | Credits: )

If you are trying to force an account into collections/going to

If you are trying to force an account into collections/going to ask for the EPP, always always remember to send out copies of ACH revocation letters to your bank and to the lender BEFORE you actually call the lender and talk.

lrhall41

Submitted by Steve Barris on Wed, 11/07/2012 - 02:06

( Posts: 1043 | Credits: )

I did fax out the ach revocation to Speedy Cash. I also called

I did fax out the ach revocation to Speedy Cash. I also called them and they gave me the number to send it to. When I spoke with them they were the ones that told me that they would remove all my banking info, and according to them, that was done while I was on the phone with them. They debited my account on the original date it was due 11/05/2012. Speedy Cash is the one that instructed me that if I revoked ACH prior to due date then the account would be forced to collections. That only happened on one account not the second one. They had no explanation why. Anyway, I guess it worked out for the best. I got a decent payment plan on the one in default. Closing my checking account was not an option although I know it would have been better.:D

lrhall41

Submitted by anonymous on Thu, 11/08/2012 - 07:17

( Posts: 202330 | Credits: )

At Steve .......One more thing. When I asked for the EPP they w

At Steve .......One more thing. When I asked for the EPP they would only allow 2 payments and that was prior to the loan being due. Speedy Cash instructed me that if the 2 payments were not an option then I needed to force the account to collections by revoking ach and letting the loan default. I did that but still got debited. With collections I got a payment plan of 5 payments.

lrhall41

Submitted by anonymous on Thu, 11/08/2012 - 07:22

( Posts: 202330 | Credits: )