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We owe ACE cash advance 1200 for a cash advance loan. They called today saying that they were going to send someone to my husband's job to remind him how to pay bills...we have until friday before they proceed...any suggestions...we tried to make arrangements with them, but they want it in full friday...or want us to pay it off and take out another loan to cover what we had to pay to them. CAN'T AND WON'T DO THAT

BarbadozBoys · Posted: Tue May 20, 2008 10:58 pm Subject:

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.

Posted: Tue May 20, 2008 11:44 pm Subject:

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

Posted: Wed May 21, 2008 4:45 am Subject:

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.

Posted: Wed May 21, 2008 5:24 am Subject: reply

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

Posted: Wed May 21, 2008 5:28 am Subject:

Good catch Paul. I didnt know that.

Posted: Wed May 21, 2008 5:40 am Subject: reply

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.

Posted: Wed May 21, 2008 7:10 am Subject:

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.

Posted: Wed May 21, 2008 7:11 am Subject:

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.

Posted: Wed May 21, 2008 7:12 am Subject: REPLY

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.

Posted: Wed May 21, 2008 7:13 am Subject:

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.

Altogether, we served over 38 million customers - that's more than 11,500 every hour!

ACE Cash Express is a proud member of FISCA.

Posted: Wed May 21, 2008 7:15 am Subject: reply

that is right,the one i was thinking of was
ACEPAYDAY,not ace cash express.sorry. Embarassed

Posted: Wed May 21, 2008 7:15 am Subject:

This is a storefront this person is dealing with - A lot of storefronts will go to the person's house or work to try and collect on defaulted payday loans. It's a fairly common thing.

Posted: Fri May 23, 2008 4:46 pm Subject:

Sorry, I tried to find my original post and then I couldn't find it...then it wouldn't let me log back in with my password and wouldn't send me a new one, so I had to creat a new account...lost my debtcc points I guess too... anyway, I am in Texas. We decided to "borrow" from a friend, UGH, but we didn't want legal action. Ace settled for 1ooo dollars, but they won't send me a letter saying that this account is now satisfied. They say legally they don't have to, but I am afraid that they'll come after us again in a couple of months and say we owe 8 or 900 more dollars because of late fees, and overdraft and all. Even though they settled. Does anyone know if they are obligated to send us something if we ask them to?

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