DEFAULT ON A PAY DAY LOAN - HELP 2 days left before "action"

You haven't mentioned which state are you from. We can then look-up for the state laws or can even find out whether they are licensed to do business in your state or not.

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They're not serious with it, are they? I mean , they can't do that :x Please don't hit the panic button. Just hang tight, someone will shortly be around with more definite solution.

Hello Prestonshelle,

From your post it seems to me that you have 2 days time to repay your payday loan but you don't have sufficient money to repay the same. At the same time you don't want to take a back-to-back loan for repaying it, as suggested by your creditor.

As per my knowledge goes, in such circumstances, you can do 2 things: -
1.You can ask your lender to Rollover or Extend your Loan by paying another fee for the original amount of loan. E.g. suppose you have taken a payday loan of $100. You are supposed to pay fees of $20 for the same. Now, if you want to extend the time of repayment then you have to shell out an additional fee (of $20) for the same. This will take your total cost of repaying payday loan to $100+$20+$20= $140.
2.You don????????t have sufficient money in your checking account and consequently you default. In such a case your creditor as well as Financial Institution will charge you Insufficient Fund fees (NSF).
According to me the 1st option is better than the latter one as it will less adversely affect you.

Regards,
Phoenix

Please tell us what state you are in so we can check to see if they are even lending to you legally.No one is going to go to your husbands job, that in itself is an illegal scare tactic, which leads me to believe that the company is not operating legally. A legal company would not scare you like that. I would certainly NOT ask to roll over . Why pay them any more than you need to.
Before any info is given, we do need to know the state you are in. It is possible that you are in a state that prohibits these loans and that is a whole other story.

if i'm not mistaken,ACE is in canada.that makes it illegal.

Good catch Paul. I didnt know that.

well,i first applied to them 2 years ago.the lady who i spoke with had a distinct accent.got turned down thank god,but i researched a little and found there NV address is a shell.there real address is in vancouver B.C. i am trying to find the actual address,but since they are in canada i don't know what can be done.i do know that they won't come down from canada to your husband's work.

Actually, ACE is a huge US company too. They have storefronts in a bunch of states.

They are licensed where they lend, and will follow the laws where they lend.

Paul - I think you are thinking of a different ACE then I am.

And yes, storefronts do in some states go to your house to collect or your work to collect. Unfortunatly, it's legal for them to. But you can ask them to leave and they must comply.

could be,all i know when i applied over the internet it gave a las vegas address,then more research i found the B.C. address.so that is a big possility.

About ACE Cash Express
ACE Cash Express, Inc. is a leading retailer of financial services, including check cashing, short-term consumer loans, bill pay and prepaid debit card services, and the largest owner operator of check cashing stores in the United States. As of September 2007, ACE had a network of 1,718 stores in 38 states and the District of Columbia, consisting of 1,569 company-owned stores and 149 franchised stores. ACE Cash Express focuses on serving consumers who seek an alternative to traditional banking relationships to gain convenient and immediate access to financial services.

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ACE Cash Express is a proud member of FISCA.