Are Ace and Speedy Cash the same?
No, Ace and Speedy Cash are not the same. Ace is a financial services company that provides a full spectrum of financial products and services to customers throughout the US. These services include payday loans, installment loans, check cashing, money transfers, prepaid debit cards, bill pay, and more.
It also offers a variety of online banking services including online banking, mobile banking, telephone banking, and more. Speedy Cash, on the other hand, is a leading financial services provider that specializes in short-term lending solutions.
Its offerings include payday loans, installment loans, title loans, online-to-store loans, check cashing, money orders, wire transfers, prepaid debit cards, and more. It also offers specialized services such as cash advances, line of credit, and tax refund loans.
What happens if you don’t pay back a Speedy Cash loan?
If you don’t pay back a Speedy Cash loan, you may be subject to various collection actions, such as late fees, returned check fees, collection calls, and involvement of a third-party collection agency.
Once the loan is unpaid and has been in default for an extended period of time, Speedy Cash may also report it to one or more credit bureaus, negatively affecting your credit score. In some cases, Speedy Cash may also take legal action to recover the debt, which could include wage garnishment, a lien against your property, or seizure of other assets.
In the worst-case scenario, you could be sued for nonpayment of the loan and end up with a judgment against you. Ultimately, failure to repay any loan, including a Speedy Cash loan, is a serious matter and should not be ignored.
Does Speedy Cash approve everyone?
No, Speedy Cash does not approve everyone for a loan. They consider a variety of factors when evaluating applications to ensure the best customer experience and responsible lending practices. This includes a review of the applicant’s creditworthiness, employment status and income.
Applicants that are approved for a loan from Speedy Cash must still meet their respective state’s minimum age requirements and provide valid identification and income verification documents. The final loan approval and amount will also depend on the type of loan product and the state laws that are applicable to the customer.
Does Speedy Cash call your employer?
No, Speedy Cash will not usually call your employer unless you provide them your permission to do so or they are having difficulty verifying your employment. They may ask you to provide a paystub or other documentation from your employer to help them verify your employment.
They will only contact your employer in cases where specific permission is granted by you or to resolve a problem related to a loan or other business with them.
How does Speedy Cash verify income?
Speedy Cash validates income in a variety of ways. First, they verify employment by requiring the customer to complete an online form with their employer’s contact information, or provide a letter or other document that verifies their employment.
Customers can also submit two consecutive pay stubs to prove their income. In some cases, they may also be able to provide other documents such as tax forms or bank statements to verify their income.
Depending on the customer’s situation, they may also be able to provide verifying information from government benefits or Social Security payments.
Does Speedy Cash do a hard inquiry?
No, Speedy Cash does not do a hard inquiry. Speedy Cash offers loans that are fast, easy and stress-free. They just require basic eligibility criteria, like having an open and active bank account and your current residential address.
Speedy Cash does not require a credit check, and therefore does not perform a hard inquiry. To apply for a loan from Speedy Cash, all you need to do is fill out an online form. Approval times can be as fast as 15 minutes, so if you need urgent funds, Speedy Cash could be a great option for you.
How do I qualify for fast cash?
In order to qualify for fast cash, you need to find a lender that offers fast cash advances. Typically, fast cash advances are unsecured cash advances that are offered to approved applicants. In order to qualify for a fast cash advance, you will need to provide proof of income and identity, as well as meet certain lending criteria.
Additionally, most lenders will require that you have a steady job or another steady source of income.
In order to maximize your chances of qualifying for fast cash, it is beneficial to compare lenders and choose one that matches your needs and qualifications. Additionally, it is also important to make sure that you understand the terms and conditions of the loan before applying, as these will determine the repayment structure, interest rates, and other factors associated with a fast cash advance.
Is everyone eligible to borrow from cash App?
No, not everyone is eligible to borrow from Cash App. In order to be eligible, you must be at least 18 years of age and a resident of the United States, the United Kingdom, Australia or Canada. You must also have a valid Social Security Number or Individual Taxpayer Identification Number.
Additionally, you must already be an active user of Cash App for at least 90 days and have a verified identity via government-issued ID and bank account. Additional eligibility criteria may apply.
Is Speedy Cash licensed in California?
Yes, Speedy Cash is licensed in California. The California Department of Business Oversight (DBO) regulates deferred deposit transaction law (also known as payday loans) for the entire state. According to the DBO website, Speedy Cash is one of the licensed lenders operating in the state of California.
The company is identified as a “supervised lender”, meaning that it has received the necessary licensing from DBO and is in compliance with provisions made under the Deferred Deposit Transaction Law.
Speedy Cash was licensed on 02/15/2021, and holds the license number #604822.
In order to be certain that Speedy Cash is licensed in your specific area, it is recommended that you check the California Department of Business Oversight website and use the “License Lookup” function to find the company on the list of licensed lenders.
Additionally, you can visit Speedy Cash’s website or contact customer service directly to confirm that it is a licensed lender in your state.
Are online payday loans legal in California?
Yes, payday loans are legal in California. Payday lenders in the state must be licensed by the Department of Business Oversight and follow applicable laws, including the Deferred Deposit Transaction Law and the California Finance Lenders Law.
Generally, payday lenders in California can only offer consumers loans up to a maximum of $300 with a term of no more than 31 days. Loan fees are capped at 15% of the loan amount for the first $300 and 10% for any amount over $300.
However, this doesn’t apply to deferred deposit transactions, which are loans of no more than $300 to be repaid in full within 31 days, and an additional fee is allowed, bringing the total fee to a maximum of $45.
For more information, borrowers can contact the Department of Business Oversight.
What states does Speedy Cash operate in?
Speedy Cash currently operates in 21 states throughout the US. These states include:
Alabama, Arizona, California, Colorado, Delaware, Florida, Idaho, Illinois, Kansas, Missouri, Mississippi, Nevada, New Mexico, Oklahoma, Oregon, Tennessee, Texas, Utah, Washington, Wisconsin, and Wyoming.
In addition, Speedy Cash also serves customers in Canada in the provinces of Alberta, British Columbia, and Ontario.
Does everyone get approved for Speedy Cash?
Not everyone gets approved for Speedy Cash. When you apply for a loan, Speedy Cash will consider several factors, such as your income, employment status, and credit history, to decide if you are eligible for a loan.
It’s important to understand that approval is not guaranteed and a loan may be denied, even if you meet the basic requirements. If you’re approved, you’ll receive an offer with the loan amount, loan terms and fees associated with your loan.
When you agree to the terms and conditions and sign the agreement, the money will be sent to you. To increase your chances of getting approved, it’s best to make sure that the information you provide on the loan application is complete and accurate.
It’s also important to make sure that you meet the other requirements, including having adequate income and a good credit history.
Is Speedy Cash legitimate?
Yes, Speedy Cash is a legitimate financial services provider. Founded in 1997, the company has grown to become a trusted resource for many people seeking alternative financial services like loans, checking accounts and more.
They are members of the Community Financial Services Association of America, a nonprofit organization that advocates for fair practices in the short-term financial services industry. They are also licensed in the states where their services are offered, so customers can be sure that the services they receive are secure and trustworthy.
Additionally, Speedy Cash prides itself on providing quality customer service and is committed to making sure customers are fully informed before they make any decisions.
Can you be sued for a payday loan in California?
Yes, you can be sued for a payday loan in California. In California, a payday lender can file a lawsuit against a borrower if they are unable to repay their loan as agreed. If a payday lender successfully obtains a judgment against you, they can take legal steps to collect the debt, including wage garnishment, a bank account levy, or property lien.
Additionally, many payday lenders also report any unpaid past-due loan payments to the credit bureaus, which can cause significant damage to your credit score. Therefore, it is important to be aware of the consequences of not repaying a payday loan when it is due and to work with the lender to resolve the situation if necessary.