ED Magedson – Founder
Speedy Cash3527 North Ridge Road Witchita, Kansas United States of America
I am tired off being ripped-off by the Title and Payday Loan Industries. Where or How can I start a new movement to have these industries regulated by Congress. I took out a title loan for approximately $2600.00 two years ago. I have since paid back a total of $$8,400. I contacted the company and advised them I am not working.
I have contacted the company in California and Witchita advising them of my financial situation and requested a settlement offer. I was told that the total loan of (including loan amout and interest) $9,000 + would have to be re-paid in full before I retrieve my car.
This is ridiculous... I also asked what was the principal amount due, and was advised very rudely by the customer service supervisor that there is no principal ... just pay the remaining amount of $1,300.00. I am advising any person if you ever need to take out a loan don't use your car. I have paid triple on this loan. Can anyone in the legal field help me? I have had no success in trying to arragement a settlement offer from any company representative.
They have also accessed my account three times without my permission, (because they have this info on file), which has caused a series of checks bouncing, which I have incurred bank fees on.
This report was posted on Ripoff Report on 01/15/2011 06:05 PM and is a permanent record located here: http://www.ripoffreport.com/reports/speedy-cash/witchita-kansas-67205/speedy-cash-dba-galt-ventures-inc-title-loan-excessive-interest-fees-witchita-kansas-683084. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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