Consumer complaint received 2019-02-06
Company: CURO Intermediate Holdings
State: TX
Product: Payday loan, title loan, or personal loan
Sub-product: Payday loan
Issue: Money was taken from your bank account on the wrong day or for the wrong amount

Complaint:
FORMAL SERVICE COMPLAINT AGAINST : Speedy Cash XXXX XXXX XXXX XXXX XXXX XXXX XXXX, TX XXXX Phone : XXXX   www.speedycash.com To Whom It May Concern : I would like to file a formal complaint against a payday loan company Speedy Cash. I had a loan from the company that was taken out in XX/XX/XXXX to cover an increased insurance premium from a car accident my XXXX  daughter who had just gotten her license in XX/XX/XXXX incurred. My insurance provider XXXX XXXX contacted me letting me know the premium would increase by {$2000.00} and then monthly payments would go from {$330.00} to {$620.00}.

With no other options or savings I went to Speedy Cash to cover the amount because my insurance is set to automatic payments. I worked with XXXX  to make arrangements and was able to lower the amount to {$1400.00} with additional discounts. 

I originally expected to pay off the loan immediately but inadvertently ran into a number of financial issues ( no child support received, work bonus not granted ). 

As a result the loan was extended out much longer than I anticipated. I was upset but had no choice and continued making the outrageous interest payments of {$400.00} bi-weekly estimating to {$800.00} per month just for the interest and then having problems paying the loan off and hence affecting my personal budget. 

I contacted Speedy Cash on a couple of instances in the fall and let them know my situation. I asked if there was a program or allowance where since I had already paid back so much interest that I could pay just the principal. I had done this years ago with another lender where if you had financial problems you could request and they then took the full amount of the loan and broke it down into 4-6 payments so that you could pay it off. You could only use the option once per year. Speedy Cash informed me that they had no such options to assist me and stated if you were having problems paying back the loan the only thing I could do was make the payment or they could help by pushing the date out a few days to a week. I asked what if I didnt have the money in my account and she said they would only work with you if the account bounced or payment returned. I told her I didnt want to bounce a check or have ISF fees I simply wanted to make arrangements with them to pay off the loan with limited interest as I had gotten over my head with the debt and needed to find a way out as I had been paying the {$800.00} payment over 6 months. 

I realized in XX/XX/XXXX that my XXXX XXXX debit card was set to expire in XX/XX/XXXX. Speedy Cash sent me multiple emails and phone calls asking me to update the card last email was XX/XX/XXXX. 



I chose not to update the card in hopes that it would be declined since they had no active card and hence I could start the process to request assistance from Speedy Cash in paying off the debt. 

Typically Speedy Cash will send emails in regards to your payment being due and also call you with reminders. I received none of those calls in XX/XX/XXXX. On XX/XX/XXXX Speedy Cash charged my XXXX XXXX  account with the full amount due of {$2500.00}. This transaction was done without my knowledge or authorization. I had no idea the payment had been submitted until a few days later when I got a notice from XXXX about insufficient funds and then an email from Speedy saying thank you for your payment. 



Needless to say I was beyond upset. As a result of their actions : I was charged {$320.00} in ISF fees and the action affected multiple payments that I had scheduled Money I had slated to go to XXXX XXXX XXXX XXXX was not there and hence I was charged ISF fees from their credit union on my checking account My credit card payment from XXXX, XXXX and another card was then denied and then they as well charged me a {$39.00} fee for each card and transaction. 
My rent payment could not be made and I had to contact my landlord and was stressed about being put out of my home. 

As a result of their actions my credit score and history are now negatively affected because Im showing 3 missed payments when in the past I had 0 missed payments. 

It also greatly affected my health and I had XXXX XXXX XXXX in the span of 2 weeks. My account was overdrawn by approximately {$1800.00} for two weeks and of course when I got paid I was still behind due to the negative amount. I have had to drastically alter my life and was unable to buy essentials. 

I have had issues with Speedy Cash in the past where they inadvertently charged the wrong bank card on my account. At that time it was brought to their attention and they did nothing. Sometime later after they were sued they reached out to me and requested that I send the documentation for the ISF fees and sent me a check but it was almost a year later. While I understand businesses have issues their problems seem systemic. 

As a consumer and single parent with middle-class income I would like to be compensated for duress, anxiety and financial mess that they created. I also want some sort of consumer protection against being taking advantage of. I understand that I chose the loan but the interest rates are beyond unacceptable. No one would take out a payday loan if we did not have to but that does not give Speedy Cash or any other lender rights to take advantage of consumers. 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX, TX XXXX Mobile : XXXX Email : XXXX XXXX

Company response to consumer: Closed with explanation