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Rescind Question

Date: Wed, 05/08/2019 19:20
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Hi

I live in Texas and am trying to get out of this mess.

I rescinded an installment loan with Speedy Cash within the 3 day window, Speedy Cash agrees.

They claim after my rescind request that they tried to deduct the principal amount from my debit card (not sure why they didn't just use ACH) but was declined. As a result, the principal was not returned within the 10 day window the regulation states. Because of this, they state that my rescind effort is void.

Just curious if anyone had any information to help me.

My original loan amount was $2,000 and I've currently paid $2500.

Thank so much
Jason




Awe! Did you give your debit card details? What I feel is that they did it deliberately so that your rescind effort becomes null and void. How much more do you need to pay for this loan? In Texas, Speedy Cash is CAB. They can't lend you directly. They are required to arrange a loan between you and the third-party lender. Did they do that?

Sub: #1 posted on Thu, 05/09/2019 - 04:12

David Martin David Martin

(Posts: 201 | Credits: )

David - Appreciate your reply. That is EXACTLY what I claim but I have no proof. The debit card they had on file had the wrong expiration but I'm positive it was correct. I genuinely feel like they did it deliberately. Now, I should of figured it out at the time but I didnt.

In regards to the loan. I realize they are a CAB but I think that it is Speedy Cash that is the lender and they are the ones collecting the payments.
I looked in my checking account and the past withdrawls read: "Speedy #96 PAYMENT LOAN 78733XXXX"

I'm trying to access my loan docs but they aren't available online. I've requested via email.

Any other advice would be great.
Thank you so much
Jason

Sub: #2 posted on Thu, 05/09/2019 - 07:33

Jason H Jason H

(Posts: 6 | Credits: )

They can't lend you money. Revoke the ACH authorisation.

Sub: #3 posted on Fri, 05/10/2019 - 06:29

sanderspatricia29 sanderspatricia29

(Posts: 981 | Credits: )

You must contact your bank and block any further payment to speedy cash via your debit card. Did you get any response from them?

Sub: #4 posted on Sun, 05/12/2019 - 22:41

Barbara Delinsky Barbara Delinsky

(Posts: 402 | Credits: )

Wait till they give you the loan documents. My calculations say that they have done it deliberately. Tell them that it is not possible for you to pay such outlandish interest rates, and you want to settle it asap. See how they react.

Sub: #5 posted on Mon, 05/13/2019 - 02:03

Nick Jonas Nick Jonas

(Posts: 231 | Credits: )

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