Help Please - Speedy Cash
Date: Wed, 12/05/2012 - 08:13
I have 2 loans with Speedy Cash/Rapid Cash (AKA SCIL Texas), located in Kansas. I am located in Texas. I'm trying to determine if they are a CSO or a PDL. In my paperwork, it says they are a "Credit Access Business" (CAB) and say something about being registered or licensed in Texas. Has anyone ever heard of this?
The total of my loans is $1258.21 (principal and fees). I have paid the "re-finance" fees for these loans every month for the past 12 months, in the amount of 258.21 for a total payment of $3,098.52.
Basically, I'm confused about the rules in Texas. I think from my research that loans can only be "re-financed" 4 times (though I could be mistaken) and I have done it 12, so far. But since I can't even determine if they are a PDL or a CSO, I'm not certain of the rules. I would like to be before I contact them. Please help!
The total of my loans is $1258.21 (principal and fees). I have paid the "re-finance" fees for these loans every month for the past 12 months, in the amount of 258.21 for a total payment of $3,098.52.
Basically, I'm confused about the rules in Texas. I think from my research that loans can only be "re-financed" 4 times (though I could be mistaken) and I have done it 12, so far. But since I can't even determine if they are a PDL or a CSO, I'm not certain of the rules. I would like to be before I contact them. Please help!
Yes, there are CABs in Texas
Yes, there are CABs in Texas and they are pretty similar to CSOs. These people look like they are CFSA members so you can call the local office or corporate and as for the EPP. That might be of some help in alleviating your problems.
