Learn how to handle Speedycash debt by knowing your consumer rights, understanding the credit implications, and using various strategies to minimize damage to your financial future.
Dealing with payday loan debt is incredibly stressful, especially when you're already facing financial hardship. The fear of what Speedycash might do if you can't pay can keep you awake at night. You may be wondering if they can really hurt your credit and what options you have.
What is Speedycash?
Speedycash is indeed a legitimate payday loan company that has been operating for over 20 years, providing short-term loans to consumers who need quick cash.
"The average payday loan borrower remains in debt for 5 months out of the year, paying more in fees than they originally borrowed." - Consumer Financial Protection Bureau
Below is the contact information for Speedycash:
Address: 6642 E. Baseline Rd., Mesa, AZ 85206
Phone Number: 1-888-333-1360
Website: speedycash.com
Email: Available through their customer portal
Speedycash operates both online and through physical storefront locations, offering various short-term lending products including:
- Payday loans (up to $1,500)
- Title loans secured by vehicle titles
- Installment loans with longer repayment terms
- Check cashing services
- Prepaid debit card services
- Money transfer services
What happens if you don't pay Speedycash?
If you default on a Speedycash loan, several consequences can occur that escalate over time.
Understanding this timeline helps you prepare and take action before the situation worsens.
Immediate consequences (Days 1-15):
- Late fees and penalties added to your balance
- Multiple phone calls and text messages
- Potential overdraft attempts on your bank account
- Suspension of future loan eligibility
Short-term consequences (Days 16-60):
- Increased collection activity and frequency
- Threats of legal action or criminal prosecution (often empty threats)
- Account charged off as a loss by Speedycash
- Potential sale of debt to third-party collectors
Long-term consequences (Days 61+):
- Debt sold to collection agencies
- Negative credit reporting begins
- Possible lawsuit filing
- Wage garnishment in some states
- Bank account levies if judgment obtained
Can Speedycash Hurt Your Credit?
The short answer is yes, but it's complicated.
Speedycash's impact on your credit depends on several factors and typically doesn't happen immediately.
Initial credit reporting practices:
- Speedycash may not report timely payments to credit bureaus
- They typically don't report loans during the normal repayment period
- Most payday lenders focus on internal collection efforts first
When credit damage occurs:
- After charge-off (usually 60-90 days of non-payment)
- When debt is sold to collection agencies
- If collectors report the account to credit bureaus
- During legal proceedings and judgments
"Payday loan defaults can reduce credit scores by 50-100 points when reported to credit bureaus, with effects lasting up to 7 years." - ASAP Credit Repair client data analysis
Types of credit damage from Speedycash debt:
- Collection accounts on credit reports
- Charge-off entries showing unpaid debt
- Public records from court judgments
- Reduced credit utilization calculations
- Negative payment history markers
Speedycash Reviews and Consumer Experiences
Speedycash has mixed reviews across consumer platforms, with many complaints focusing on aggressive collection practices and high interest rates. On the other hand, many customers, still find their service reliable and efficient.
Below is a sample thread from reddit:
Common consumer complaints include:
- Excessive fees and interest rates (often 400%+ APR)
- Aggressive collection tactics
- Unauthorized bank account withdrawals
- Misleading loan terms and conditions
- Difficulty reaching customer service
The Better Business Bureau shows varying ratings for Speedycash locations, with consumer complaints often centered around:
- Collection practices and harassment
- Unauthorized account access
- Misleading advertising
- Loan renewal cycles (debt traps)
- Credit reporting disputes
"The average payday borrower pays $520 in fees for loans of $375, spending more on fees than the original loan amount." - Pew Charitable Trusts Research
Positive Feedback: Fast and Convenient Service:
- "Got approved in 5 minutes online, money in my account same day"
- "Store staff was helpful and explained everything clearly"
- "Perfect for emergency situations when banks are closed"
Overall Customer Satisfaction
Trustpilot shows Speedycash has a 4-star rating with over 10,043 customer reviews, indicating generally positive customer experiences despite the controversial nature of payday lending.
Exercise your rights when dealing with Speedycash
Payday loan companies like Speedycash must follow federal and state regulations designed to protect consumers from predatory lending practices.
Understanding these rights is crucial for protecting yourself.
Under the Fair Debt Collection Practices Act, Speedycash cannot:
- Contact you before 8 AM or after 9 PM
- Call you at work if you've told them not to
- Harass, threaten, or abuse you during collection
- Discuss your debt with family, friends, or employers
- Lie about the amount you owe or legal consequences
- Continue calling after you've requested written communication only
Under state payday loan regulations:
- Interest rates and fees must comply with state caps
- Loan rollovers may be limited or prohibited
- Cooling-off periods between loans may be required
- Database checks to prevent multiple simultaneous loans
Your consumer protection rights include:
- Right to request debt validation
- Protection against harassment and abuse
- Right to dispute inaccurate credit reporting
- Ability to request payment plans
- Protection from illegal collection practices
If Speedycash violates these laws, take action by reporting them to:
- Your state's attorney general's office
- Consumer Financial Protection Bureau (CFPB)
- Better Business Bureau (BBB)
- State financial regulators
- Federal Trade Commission (FTC)
You may be eligible for compensation up to $1,000 plus attorney fees if you can prove violations of the Fair Debt Collection Practices Act.
How To Deal with a Speedycash Debt
Immediate action steps
When facing Speedycash debt problems, quick action can prevent the situation from escalating and minimize credit damage.
First 30 days - Critical actions:
- Contact Speedycash immediately to discuss your situation
- Document all communication in writing
- Request a payment plan or modification
- Gather all loan documentation and records
- Check your credit reports for any negative entries
Negotiation strategies that work:
- Offer a lump-sum settlement for less than full balance
- Request extended payment terms with lower payments
- Ask for fee and interest reduction or waiver
- Negotiate removal of negative credit reporting
- Get all agreements in writing before making payments
"Our clients typically settle Speedycash debts for 30-60% of the original balance while securing credit report removal agreements." - ASAP Credit Repair settlement data
Credit Protection and Repair Strategies
Preventing credit damage:
- Negotiate "pay for delete" agreements
- Request goodwill deletions after payment
- Dispute inaccurate credit reporting
- Monitor credit reports regularly
- Address issues before they escalate
Repairing existing credit damage:
- Challenge incomplete or inaccurate entries
- Negotiate removal as part of settlement
- Use consumer protection laws to dispute items
- Build positive credit history simultaneously
- Monitor ongoing credit improvements
How ASAP Credit Repair Can Help with Speedycash Issues
ASAP Credit Repair specializes in payday loan debt resolution with a comprehensive approach that addresses both debt disputes and credit restoration simultaneously.
Our specialized Speedycash debt services:
Comprehensive debt analysis:
- Review all loan documentation and terms
- Identify potential regulatory violations
- Assess negotiation leverage and options
- Evaluate credit reporting accuracy
- Develop strategic resolution plan
Credit restoration program:
- Dispute inaccurate or incomplete credit entries
- Monitor credit reports for compliance
- Build positive credit history recommendations
- Ongoing credit score tracking and improvement
- Prevention of future payday loan dependency
Client success with Speedycash resolution:
Average outcomes achieved:
- Debt reduction: 40-70% of original balance
- Credit score improvement: 60-140 point average increase
- Settlement success rate: 91% of eligible accounts
- Credit removal rate: 86% of negotiated settlements
- Time to resolution: 3-6 months average
"ASAP Credit Repair helped me settle three Speedycash loans totaling $2,400 for just $850 and removed all the negative entries from my credit report. My score went from 520 to 680 in four months." - Marcus T., ASAP Credit Repair client
Recovery from Speedycash Debt: Breaking the Payday Loan Cycle
Understanding the debt trap: Payday loans are designed to create repeat customers through short repayment terms and high fees. Breaking this cycle requires strategic planning and alternative financial resources.
Steps to financial independence:
- Emergency fund building: Start with $25-50 monthly savings
- Alternative credit building: Secured cards and credit builder loans
- Financial education: Budgeting and money management skills
- Income improvement: Side hustles or skill development
- Professional guidance: Ongoing financial counseling and support
Alternative resources for emergency cash:
- Credit union payday alternative loans (PALs)
- Community assistance programs
- Employer advance programs
- Friends and family assistance
- Side gig income opportunities
Building long-term credit health
Credit rebuilding strategy:
- Maintain low credit utilization (under 30%)
- Make all payments on time consistently
- Keep old accounts open for credit history length
- Mix different types of credit responsibly
- Monitor credit reports regularly for accuracy
Preventing future payday loan dependency:
- Build emergency savings gradually
- Establish relationship with credit union
- Improve credit score for better loan options
- Create sustainable budgeting practices
- Develop multiple income streams when possible
Taking Action Against Speedycash Debt
Don't let Speedycash debt control your financial future. Payday loan problems can be resolved with the right strategy and professional assistance.
Your immediate action plan:
- Document everything: Keep records of all communications and loan terms
- Know your rights: Understand state and federal protections
- Contact ASAP Credit Repair: Get professional evaluation and strategy
- Negotiate strategically: Work toward settlement and credit removal
- Build for the future: Establish better financial habits and resources
Red flags that require immediate professional help:
- Threats of criminal prosecution (usually illegal)
- Unauthorized bank account withdrawals
- Contact at work after you've prohibited it
- Harassment or abusive collection tactics
- Inaccurate credit reporting
- Legal papers or court documents
"The key to resolving Speedycash debt successfully is acting quickly and strategically. The longer you wait, the more limited your options become." - ASAP Credit Repair Senior Debt Specialist
ASAP Credit Repair transforms overwhelming payday loan debt into manageable, resolved accounts while rebuilding your credit profile. Our expertise in both debt settlement and credit restoration provides the comprehensive solution you need to escape the payday loan cycle permanently.
Contact ASAP Credit Repair today to begin your journey from Speedycash debt stress to financial freedom and credit success. Don't let high-interest debt define your future – take control now with professional help that delivers real results.