A class action lawsuit challenges Speedy Cash’s practice of giving loans at extremely high interest rates.
Plaintiff Cindy Delisle says that she took out a loan from Speedy Cash and was charged unlawfully high interest rates.
She says she was not given adequate time to review the terms of the loan, so she was not aware that the interest rates were so high.
According to Delisle, she took out an Installment Loan and Promissory Note with Speedy Cash on July 14, 2018 for the amount of $4,457.38.
The Speedy Cash class action says under the terms of the loan Delisle was required to pay back the loan at a minimum of $15,097.63, but she was not provided with the terms of the loan in a way that let her accurately review them, so she did not know that she would be required to pay that amount.
The plaintiff reportedly made a payment to Speedy Cash on Aug. 17, 2018, thereby incurring financial injury from her involvement with the company.
She says that the company intentionally misled her into taking out a loan with an exorbitantly high interest rate and makes a practice of misleading all of its consumers about the terms of their loan, so as to maximize its profits from unfair interest rates.
The Speedy Cash loan class action lawsuit argues that the company does not give its borrowers an opportunity to negotiate the loan, but presents the loan on a “take it or leave it” basis and only shows them the terms of the loan very briefly.
The plaintiff argues that Speedy Cash violates California’s Unfair Competition Law by charging interest rates well above the legally allowed rate. She says that the company’s loan practices are “unfair, unlawful, fraudulent, and/or pernicious.”
The Speedy Cash loan interest rates class action lawsuit alleges that the company knew or should have known of the legal restrictions on interest rates, and knowingly violated the law.
Additionally, Delisle says that the company had legal means by which it could make a profit and run its business, but actively chose instead to violate the law and charge extreme interest rates.
The Speedy Cash high interest rates class action lawsuit says that the company intentionally deceives consumers as to the terms of the loan by not allowing them adequate time to review the loan terms, and by making the terms of the loan so confusing that reasonable borrowers would not be able to understand them.
Allegedly, this is done so that consumers who discover the high interest rates would not have an opportunity to decide to not take out a loan from Speedy Cash, because had they known that the interest rate was extremely high and unlawful, they would refuse to do business with the company.
Delisle is represented by Ahren Tiller of BLC Law Center APC, Joshua Swigart of Hyde & Swigart and Abbas Kazerounian of Kazerouni Law Group APC.
The Speedy Cash Interest Rates Class Action Lawsuit is Cindy Delisle v. Speedy Cash, Case No. 3:18-cv-02042-GPC-RBB, in the U.S. District Court for the Southern District of California.
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562 thoughts onSpeedy Cash Class Action Challenges ‘Extreme’ Loan Interest Rates
I am also in a lawsuit by Speedy Cash from a 5 year old loan with ridiculous interest added (tried to settle but too late now they say – I had moved, no communications until now, phone # never changed but no calls either. I had completely spaced it off ( I know…stupid me)….would love to pay just the principal and fair interest and plan on attending the court hearing to try and fight the $750 turning into $2400 + they are suing for. Just curious if any updates on a class action suit. I will join in if there is one. These predators take advantage of people in desperate times, I understand it was my decision to borrow and never will again – the interest these places charge is beyond ridiculous.
Thanks!
Please add me.
Inwill be checking back!
I got a loan for 300 dollars and was told after 6 months of 100 payments it would pay itself off. Or that I could pay it off early. I was really strapped for cash so I agreed 3 months in I decided to call and see what I owedvthinking I’d pay it off and was told none of my paymentscwent towards repayment of the loan??? So I’m just giving away my money? They have access to my bank account. This is highway robbery!!
Have your banking institution put a stop payment to regain power over your account. I had to do the same with BOA since Speedy Cash refused to work with me. I paybthem on my accord and not theirs until I can work through this mess. Now that I’ve stop payment and brought up theor deceptive vices used, they are now working with me to lessen the interest being charged.
Thank you…they decieved me also..not telling me my Loan was due in 14 days that’s why my interest was so high? They were sending me monthly invoices, and amount due, by thier standards every month.
After I wrote my review on Cpcs they sent me a very intimating lawyers letter? Finally I stopped paying. They wouldn’t work with me..but my question is how or did they put it on your credit reports, like they did to me?
On top of that I disputed it.and credit report states company assures them information is correct?
This doesn’t seem like the actions of a neutral party. Meaning the credit report doing the investagation.
Speedy post dated date of loan by more than 2 years! So it looks like I never made a payment?
I sent proof of pymts from bank print out & even screen shots of speedy thanking me for receiving pymt, and amount. , many of them ..yet they take Speedy at there assurance?
I’m so upset and feel so powerless to do anything about this Co. And thier lying, decieving, practices!
I want to be part of lawsuit.
If anyone knows how to remove from credit reports please help advise me.
(Ritashaw8588 at Gmail)
How bout for loanme we received. 3100 loan 6 months ago made my payments faithfully and only paid 60 dollars to the principle
How bout flr loanme we received. 3100 loan 6 months ago made my payments faithfully and only paid 60 dollars to the principle
Please add me,
I have a original loan of 500.00 that she how turned into line of credit, 10/16/2016, I paid for 10 months and the balance kept going up? I ended up bedridden from stress from lawyers letters, that were brutal! I tried to work it out with them , even though I disagreed that I owed them anything…but they refused . After I complained on c9nsumerAffairs, they became very upset.. I signed on for a regular payday loan, and found my loan documents were different, when they recieved a pymt after this point, they thanked me online but did not show pymt in credited area?
I just saw in a email that went to spam box, that they admitted to using additional bank cards to put pymt though without authorization, they said they used another one than was authorized. And there may have been overdraft fees because of this, and offered me 140.00
I didn’t see it to it expired anyway..but I have a 1200 plus charge on my credit report, and here on line in my gmail, they say I only owe 498.00 in one, and then offer a refund of 140.00 in another?
They are the worst company, they are deceitful.
If you are not aware of swap and switch practices as I wasn’t ..they could cause alot of financial and emotional damage.. I was in bad shape, my therapist finally explained that what they were doing to me was illegal, and I was not to pay a dime to them anymore.
Now getting them off my credit report?
Unbelievable..
I would like to be part of the lawsuit,
Rita@ [email protected]
They have sent me a very threatening letter sueing me, for 3xs original loan,
It’s on my credit report!
I am sending all 3 my banks print out of payments.
They are so confusing, updating there policy after loan facts?
I can’t believe lawyers 1st letter says 498.00 to settle, as In receiving email from them saying they may owe me money if they charged another of my credit cards, PLEASE CONFIRM 3 CREDIT CARDS BELOW.
WHY. So they can withdraw without my permission? And to put on my credit report I owe over 1200.00 and never make pymt?
Yesss I just asked them why they took more from my account than I authorized and got the run around. Then a lady in CD told me that back in November my transaction was declined (mind you it is Feb) and if that were true my bank would have charged me insufficient funds fees.
Please add me to the lawsuit. I’ve had 6 loans at a time and couldn’t get from under them. Then the threatening phone calls and letters came.
Hello everyone!
When the law firm finishes investigating, they will post a link where you can file a claim. Don’t worry, just keep checking back.
I have received so much money back from class action lawsuits, in the last 5 years from reading this website, and filing claims against companies. I did business with this company as well. Just waiting to add my name to the list. Good luck!
Umm my friend got a check and we were doing same loans same time period. How do I contact the firm handeling this lawsuit
No need to. A link to file a claim will be posted on this site. Just keep checking back…
Please add me to the lawsuit