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
Please add me to this bs lawsuot
Add me please! They are still trying my debit card for the full amount due. I refuse to give any new bank information because they keep doing unauthorized charges to my debit card.
Pease add me to this lawsuit! This is BALL SHIT ridiculous, I’ve paid 2 years into my loan $151 TWICE a month ONLY to have paid off $40 of my actual $2,600 loan!!! I’ve paid about $6,000 these past two years to only actually pay $40 off… I called to try to settle a smaller amount to pay it off and said THERES nothing they can do!!! I want to cry I’m so frustrated already they completely take advantage of you and I’m a single mother working part time at the moment and was hoping they could work with me and they could give a Rats ass..
I want this STOPPED!!! I’ve paid on a $400 loan. I just found out today the interest is 198%. I informed them before I filled anything out that I receive SSI. I’m a single disabled female and I believe a lot was kept from me. I even informed them I have a learning disability in reading comprehension and the lady was more than happy to read and explain things but never once explained the interest rate was 200% it will take me three years to pay off a $450 loan I’mPISSED!!!!!!
Somehow my 7 year old loan debt to them renewed itself and is now only a year old on my credit history. The amount owed is almost $4000 now, more than double the amount of the original loan. Please add me to this claim
I need to file a new complaint against them for unauthorized charges
How do you get added to the lawsuit? Or is it already over
Please add me
How to be add to the Lawsuit
Please add me. They are sending threatening emails even after this account was closed years ago