Have you been served with a debt collection lawsuit from Speedy Cash? You may be feeling stressed and uncertain about how to move forward. The best way to protect yourself is to take action. Do not ignore the lawsuit. You likely have more legal options than you think to resolve it and put it behind you. Below, our Texas debt defense attorneys outline what you should do if facing a Speedy Cash lawsuit in Texas.
What Is Speedy Cash?
Speedy Cash is a lending company that offers short-term financing to consumers. According to its website, it offers quick loans to Texas residents, including payday loans, installment loans, and title loans. While these loans can provide quick cash for emergencies, they come with high fees and interest rates, making repayment difficult for many borrowers.
Is Speedy Cash Legit?
Speedy Cash is a legitimate creditor that offers short-term, high-interest loans to consumers. While the company does business as Speedy Cash, its official name is SCIL Texas, LLC.
The company is registered with the Texas Secretary of State as a credit services organization (CSO). You can search for its active registration on the Texas Secretary of State website using CSO file number 20070054.
This infographic provides a clear guide on how to effectively respond to a Speedy Cash lawsuit, emphasizing the importance of prompt action, legal consultation, and exploring all possible resolution options to protect your financial rights.
Will Speedy Cash Take You to Court in Texas?
Speedy Cash has a history of suing consumers to recover unpaid debts. If you have been served with a Speedy Cash lawsuit, it may be due to a defaulted loan. If a borrower fails to repay a loan according to the contract terms, Speedy Cash may take legal action to recover the debt. Its goal in filing a lawsuit is to obtain a court judgment that allows it to collect the amount allegedly owed, along with additional interest and legal fees.
If Speedy Cash is suing you for debt collection, do not ignore it. Ignoring the lawsuit will not make it go away. Ignoring it can result in a default judgment against you, which means Speedy Cash automatically wins the lawsuit because you did not respond to it or show up in court. With a default judgment, Speedy Cash can pursue bank garnishment, liens on your property, or property seizure to obtain the debt.
Speedy Cash often hires debt collection law firms to handle its delinquent and defaulted accounts. In Texas, Speedy Cash often hires James West from West Law Group, PPLC, and Nicole Hillman from the Law Office of Nicole C. Hillman, PLLC.
What to Do if Sued by Speedy Cash in Texas
If Speedy Cash is suing you for debt collection in Texas, it is essential to take immediate action. Your first priority should be to take the proper steps to avoid a default judgment.
In order to avoid a default judgment, you must file a formal response to the lawsuit, known as an Answer, with the court. You typically only have 14 to 20 days after being served to file your Answer.
Your Answer must address each claim made against you and assert any legal defenses you may have. For example, your defenses may include an expired statute of limitations, an incorrect amount of claimed debt, or a mistaken identity. After you file your response with the court, you must send a copy to Speedy Cash and its attorney.
You can use our guide about responding to a court summons as a resource. However, we recommend contacting our experienced Texas debt defense lawyers to help you with your Answer and case.
We can review your loan agreement, evaluate the claims against you, and determine the best way to respond to the lawsuit to set you up for a favorable case outcome. Then, we will draft and file your Answer to ensure you avoid default judgment.
Our team has substantial experience and success defending Texans from creditors and debt collectors. When you choose us, we handle the entire legal process for you and work to achieve the best possible results for your case. Do not hesitate to contact our Texas debt defense lawyers for a free consultation to discuss your situation.
Call (888) 584-9614 or click here to submit a consultation request form now.
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Frequently Asked Questions
What Happens if I Don’t Pay Speedy Cash?
Your account will become delinquent if you do not pay Speedy Cash per your loan agreement. If you have a title loan with Speedy Cash, it may repossess your vehicle and sell it to recover some or all of the debt. If you have a payday or installment loan, you can expect late fees and accrued interest, increasing your overall debt.
Speedy Cash will likely make a few debt collection attempts before filing a lawsuit against you. If Speedy Cash sues you and obtains a court judgment, it can pursue bank garnishment, property liens, or property seizure to recover the debt.
A court judgment in Texas is valid for 10 years and can be renewed if needed. Therefore, we do not recommend breaching your loan agreement.
Is Speedy Cash a Debt Collector?
Speedy Cash is not a debt collector. It is a creditor that may pursue collection efforts, including filing lawsuits, against consumers who default on their loan agreements. Speedy Cash hires debt collectors, specifically law firms specializing in debt collection, to handle its lawsuits. In Texas, Speedy Cash often hires James West from West Law Group, PPLC, and Nicole Hillman from the Law Office of Nicole C. Hillman, PLLC.
Can Speedy Cash Garnish Your Wages?
Texas law generally prohibits wage garnishment to collect on consumer debts like credit card and personal loan debt. Exceptions to the law include debts like child support, spousal maintenance, and unpaid taxes.
However, even though Speedy Cash cannot seek wage garnishment, it can seek other collection actions, like bank garnishment, if it gets a judgment against you. Bank garnishment means freezing your bank accounts and seizing money from them. If you deposit your paycheck into your bank account, it is no longer safe from garnishment.
Contact Our Texas Debt Defense Lawyers for a Free Consultation
Being sued by Speedy Cash can be unnerving and overwhelming, but you do not have to face it alone. Our experienced Texas debt defense attorneys can help you explore your best legal options based on the claims against you and your unique situation.
When you work with us, we will seek the best possible results for your case through dismissal, negotiation, fighting for you in court, or pursuing alternative debt relief options. Call us at (888) 584-9614 or contact us online to schedule a free consultation to discuss how to resolve a Speedy Cash lawsuit.
