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Speedy Cash 29

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Speedy Cash 29 Reviews (1)

As brief background, Ms. [redacted] visited a Speedy Cash location in San Bernardino, California and obtained a loan in the principal amount of $2,600.00 on April 17, 2017. Ms. [redacted] entered into an Installment Loan Agreement with an annual percentage rate disclosed of 133.580%. A copy of the loan...

agreement was also provided to Ms. [redacted] at that time. The Installment Loan allows customers to pay off their loan by giving a set schedule and minimum dollar amount for payment. Speedy Cash encourages customers to use this product as a short term financial solution and whenever possible, payoff early to avoid accruing interest. The balance may be paid back at any time with no penalty for early payoff. The annual percentage rate, finance charge, amount financed, total of payments and payment schedule are clearly disclosed in accordance with the Federal Truth in Lending Act and Regulation Z an the first page of the loan agreement and by signing the agreement, Ms. [redacted] acknowledged her understanding that Speedy Cash would earn interest on the etitstanding-balance from the date of the transaction until paid in full. Additionally, Ms. [redacted] acknowledged in writing the following: • "I acknowledge that I intend to borrow a principal amount of at least $2,600.00 • I know that I am encourage, when I'm able to do so, to make payment of more than the minimum amount due to pay down my principal amount and reduce interest costs. • I understand that by state law I have the right to make a payment of any amount at any time • This is a high interest loan. • I believe I can make the payments as they come due and understand the fees and expenses to me if I am late or in default. • I have considered other credit products and options for long term needs." We believe that the conditions of the loan were clearly disclosed and find no discrepancy or concern in how the transaction was processed. Under Section 22303 and 22304 of the California Financial Code, Speedy Cash as a licensed finance lender offers an installment loan product where the minimum amount loaned, as disclosed to consumers, is $2,600.00. Speedy Cash does not offer Installment loans for less than $2,600.00. Speedy Cash does not have a prepayment penalty on any products offered and customers are encouraged to pay the principal balance as soon as possible to avoid continuing interest charges. Speedy Cash understands that unforeseen circumstances may occasionally arise that result in temporary financial setbacks such that making timely payments are difficult. Accordingly, Speedy Cash is willing to discuss mutually satisfactory repayment arrangements with Ms. [redacted] in order to assist her in paying back her loan. We encourage Ms. [redacted] to call our Customer Relations Department at ###-###-#### to discuss repayment options.

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Address: 270 E Base Line St, San Bernardino, California, United States, 92410-3731

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