Speedy Cash Holdings Payday Loan Complaint

Speedy Cash Holdings Payday loan department,

Charged fees or interest I didn't expect California

When she found herself in a tight financial spot, she turned to payday lending. She was having a tough time making ends meet because she was on -. About - months ago she needed quick money to be able to make her rent payment. She visited a Speedy Cash location in - -, CA and borrowed $250.00, paying $45.00 in fees and hoping to be able to pay it back in - weeks time. Unfortunately, that was not enough time for her to stabilize her finances, and she had to repeat the loan. She has now repeated the loan - times, paying $310.00 in fees alone. She is currently a few days away from repeating it once again, leaving her inevitably in the payday lending debt trap. Not only has she had to pay the added $310.00, she has also acquired overdraft fees. On - occasions, Speedy Cash has taken the money out of her bank account while she was still waiting on - checks to come in, adding $170.00 to her expenses, due to payday lending. Totaling $530.00 in fees acquired through the lender and bank for a $250.00 loan in the span of about three months. Hoping to catch up on some of her expenses and be able to get rid of the initial payday debt, she took out a second loan at Speedy Cash for $2600.00. However, that loan did not help her at all and has instead dragged her deeper into the cycle of debt. In addition to the repeat loans every - weeks, she now has to pay $38.00 every - weeks to repay the $2600.00 loan. She has fallen behind on her bills and rent and has reached out to family and friends for help. Currently she owes Speedy Cash $2700.00 and can only see that amount growing as time goes by.