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Speedy Cash Loans Review

Sarah Edwards | October 27, 2023

Sarah Edwards
Legal Expert
Sarah Edwards, BS

Sarah Harris is a professional researcher and writer specializing in legal content. An Emerson College alumna, she holds a Bachelor of Science in Communication from the prestigious Boston institution.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Summary: Speedy Cash is a legitimate lender that provides payday loans, installment loans, lines of credit, and title loans. However, if you intend to borrow, you should know they are expensive. Interest rates can vary depending on your state laws, financial history, and credit score. If you owe a debt to Speedy Cash, SoloSuit may be able to help you resolve it through debt validation or debt settlement.

Being financially strapped is overwhelming. As living costs rise and the economy declines, staying afloat and controlling your finances can be challenging. Many consumers who require cash quickly turn to payday loans to meet immediate needs. These are short-term, high-interest loans due on the consumer's next payday.

In recent years, online payday loans have been on the rise in America. One of these companies is Speedy Cash. However, payday loans are expensive, so you'll want to carefully consider the information below before deciding to go this route for quick cash.

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What is Speedy Cash?

Speedy Cash is a direct lender that has provided several financial services since its founding over two decades ago. Currently, there are 161 Speedy Cash locations in 11 States. It has 54 stores in Texas, representing 34% of all Speedy Cash locations in the US. Aside from payday loans, the company offers other products, including:

  • Title loans
  • Installment loans
  • Lines of credit
  • Check cashing
  • Money orders
  • Prepaid cards

Moreover, the lender is a member of the Online Lenders Alliance (OLA) –a group dedicated to promoting business security standards. Below is the Speedy Cash phone number and other contact information:

  • Phone: (888) 333-1360
  • Office: 6300 E 21st St N Wichita, KS 67208-1808
  • Website: www.speedycash.com

How much can I borrow from Speedy Cash?

Depending on your state, you can borrow from $100 up to $5,000 for a personal loan. But payday lenders are predatory by nature, expect high triple-digit interest rates with a fixed annual percentage rate ranging (ARP) from 132% to 680.7%. Always remember Speedy Cash payment plans vary based on state laws, the amount borrowed, and the loan term. But like all payday loans, expect high-interest rates.

Other cons that come with Speedy Cash Loans include:

  • Originates fees
  • A soft credit pull is not acceptable for pre-approval
  • Speedy Cash Express Installment Loans does not submit credit reports to credit bureaus
  • High charges for late payments

What do Speedy Cash customers think?

The Better Business Bureau (BBB) page almost exclusively receives negative feedback. Some of the borrowers' complaints are high costs, poor customer service, and difficulty changing due dates.

Furthermore, customer reviews and complaints for the past three years have been disappointing. The BBB has this alert for Speedy Cash:

“BBB Serving Southeast Texas conducted an investigation of Speedy Cash upon receiving allegations from consumers involving contract inconsistencies. Individual payments, which were to be drafted monthly, were instead delayed and drafted in one lump sum. Additionally, BBB had concerns regarding consumers' inability to receive an explanation and clarification of how Speedy Cash calculates the interest rate.

BBB sent two letters (June 11, 2014, and June 30, 2014) asking Speedy Cash to provide the following: A copy of the company's promotional literature and a contractual agreement that customers must sign before receiving a loan. And an outline of the pay schedule consumers are required to abide by.

Speedy Cash failed to provide BBB with requested information. BBB, along with the FTC, have concerns regarding payday loan companies and advises consumers to consider other sources before deciding on a payday loan.”

If you find yourself in a situation like the above, stop Speedy Cash Loan in their tracks by sending a Debt Validation Letter. The letter asserts your rights under the Fair Debt Collection Practices Act (FDCPA). Speedy Cash must show proof you owe the debt and stop contacting you for any other reason and report the debt as disputed.

Resolve your debt with Speedy Cash

Most payday loans are repaid on the borrower's next paycheck, so lenders expect them to be paid back promptly. Sometimes, however, things don't turn out as planned for borrowers, causing them to miss their payments. Since these loans are often high-interest, borrowers can quickly accumulate large debt that can soon seem impossible to repay.

Speedy Cash Loan may sue you if you are in this situation. But SoloSuit makes it easy to respond to lawsuits. You can beat them by filing your Answer within the deadline, which varies by state. Check your state’s deadline with our calculator below.

Deadline Calculator

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This calculator is for educational purposes only. It does not factor in weekends or holidays, so your actual deadline may be some days later.


After you’ve responded to the lawsuit, you might consider working out a debt settlement plan. To settle your debt, you will negotiate terms with Speedy Cash collectors. They might be willing to work with you and accept a lower payment if you can demonstrate financial hardship. SoloSettle can help you send and receive settlement offers to debt collectors, using the best legal language, and improve your chances of reaching a settlement.

Now, let's look at an example of how to resolve your debt with Speedy Cash.

Example: Nancy takes out a loan with Speedy Cash for $500. Shortly after, she suffers from serious health challenges and quickly falls behind on her Speedy Cash payments because of the high interest rates. It isn't long before she has debt collectors calling and sending letters, and eventually, she receives notice of a lawsuit against her. Nancy uses SoloSuit to respond to the lawsuit and reach out to negotiate a debt settlement offer. After hearing her situation, the debt collectors agree to set up a new payment plan and forgive some of the interest charges. Nancy gets back on track with her payments after a few months, and the case gets dismissed.


Other loans like Speedy Cash

It’s important to weigh out all your options before taking out a payday loan or installment loan. Here are other loans like Speedy Cash you might consider:

  1. Advance America: Offers payday loans, installment loans, and title loans in many U.S. states.
  2. Check Into Cash: Provides payday loans online and at physical stores, as well as title loans and other financial services.
  3. Check 'n Go: Another well-known payday lender that also offers installment loans and check cashing.
  4. Ace Cash Express: Offers payday loans, title loans, installment loans, and check cashing services.
  5. LendUp: A newer online lender that offers short-term loans and aims to help borrowers build credit over time.
  6. CashNetUSA: An online lender that offers payday loans, installment loans, and lines of credit.
  7. OppLoans: Offers installment loans as an alternative to traditional payday loans with slightly longer terms and potentially lower rates.
  8. Rise Credit: Provides installment loans online.
  9. Oportun: Focuses on providing affordable personal loans to people with little or no credit history.

Warning: When considering a short-term, high-interest loan, be aware of the potential pitfalls. The interest rates on these loans can be extremely high, leading to a cycle of debt that can be challenging to break. Before borrowing, read the terms and conditions of each loan option you are considering. It's also a good idea to explore alternatives, such as credit union loans, personal loans, or even borrowing from friends or family, as these may offer better terms and fewer risks.

What is SoloSuit?

SoloSuit makes it easy to fight debt collectors.

You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.

SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.

>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate

>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)

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Below are some resources on how to use an arbitration clause to your advantage and win a debt lawsuit.

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Civil law legal definitions

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