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Hi everyone-

I have 2 loans with Speedycash, and after my payments this week, I am realizing how stupid I was and have gotten myself in over my head in taking out 2 loans. I can not afford to keep making these CAB payments every 2 weeks and was wondering if a payday loan consolidation is the best way to go? Or will they work with me in smaller payments? I'm embarrassed that I let myself do this-and just need to know what to do to keep them from drafting my account every two weeks. What I'm most worried about is getting arrested or going to jail if I default...

any and all advice would be helpful as I know speedycash is legal in my state.

Thanks.




I deleted your other accidental post for you:)

How were you able to take out two loans with them, they only allow one at a time? Consolidation is not the way to go, you can do this your self. You will need to call their corp offices to see what you can work out, the local store front will not be able to offer much. You may be able to get an extended payment arrangement. You will still want to revoke ACH authorization with them right away to keep them from debiting your account and will need to give copies to the bank, they will allow that and you will want to more than likely close down your bank account and open a new one not linked in any way to the old, just in case they attempt to debit.. You will not be arrested or go to jail - debt is civil not criminal.

Sub: #1 posted on Thu, 03/13/2014 - 03:41

HelpinAZ HelpinAZ
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(Posts: 1873 | Credits: 288.09)

:) Thanks for deleting that...

I thought it was odd to...I received a buy up from one of my loans, and it created a new one. I am going to pay my cab fees this Friday-but then I will close that account. Bank of America already opened me another account with a new debit card, not linked to the other one, and said once I'm at a zero balance I will close the account.

My only question is since this is a LEGAL lender in Texas, what steps do I take? All sample emails/and advice have been for ILLEGAL lenders....I need some guidance, because I honestly get terrified when I'm on the phone with these kind of people, and immediately get pushed over.

THANK YOU for your help!!

Sub: #2 posted on Thu, 03/13/2014 - 19:28

Kristen Kristen

(Posts: 22 | Credits: 3.55)

Make sure they put the other one on deposit only and move the funds to the new -- Keep and eye on things with them - they can sometimes have a bad habit of allowing things through and charging you fees.
You will need to call them at the corp offices and simply tell them you are revoking ACH authorization and canceling any possible wage assignments you may have signed: You will want to put it in writing as well, ask them if you need to send via mail CMRRR or if you can fax to them:
This is what I used for legal lenders- in fact for Speedy, if I remember right I faxed to them and gave copy to my bank:
Speedy Cash
Attn: Customer Relations
ACH Authorizations
3611 N Ridge Road
Wichita, KS 67205
Local store address: (put your store address here)

Date: 10/10/2012
Acct. # (your account number)
Dear Whomever,
I, (your name) hereby revoke authorization of any and all EFT/ACH authorizations by your company to any and all of my personal bank accounts. I also revoke any and all wage assignments I may or may not have signed with your company.
I would like an email sent to me at (your email), confirming receipt of this EFT/ACH revocation and confirmation that it has been processed in your system.

Thank you,
(Your Name)


Let me know if I can be of further help:)

Sub: #3 posted on Fri, 03/14/2014 - 06:19

HelpinAZ HelpinAZ
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(Posts: 1873 | Credits: 288.09)

Hi HelpinAZ,

Thank you again for your help. When I call corporate(like I said I'm horrible with this stuff) do I need to give them a reason why I am revoking ach? Should I let my account go into collections first? Or work with them first? Sorry I'm horrible at all of this!

Thanks again for your information and help!

Sub: #4 posted on Mon, 03/17/2014 - 19:06

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