ACE Cash Express

Tomorrow will be the day I default on my payday loan (which i think is technically a one payment installment loan).

Has anybody dealt with ACE Cash Express in Ohio? It is a storefront.

Any advice --- suggestions?

WORRIED!

OHIO23

I believe Ace Cash Express is a member of the CFSA. Call them today (before you default) and ask them for an extended payment plan. They will generally allow you make 3-4 equal payments to pay the balance due on your loan. No further interest will be charged. You have to call them before you default! And I would call their corporate offices, not the people at the storefront.

Store Services: 888-753-2384

As far as I know, Ace Cash Express is not a CFSA member but they do payment arrangements once a year. Check out the following link: cfsa.net/MemberList.aspx

You're correct. They are not a member of the CFSA but they do offer extended payment plans. Contact their corporate offices.

I will make a phone call. I have found that with most of the PDL companies in Ohio that if they were with the CFSA --- they no longer offer the extended payment plan. I did findout that Valued Services willl divide your amount owed into 4 equal payments AFTER it has beend defaulted on. Crazy you have to default first

Although, as I posted above, ACE Cash is not a member of the CFSA but for your information CFSA members should offer you extended payment plans (EPP) if you ask for it.

Click the following link to check out for yourself: cfsa.net/public_education_campaign/guidelines/guidelines_extended_payment_plans.html

The EPP is for PDL's, not installment loans.

EPP is also offered by most CSOs.

PDL, how can a company offer and installment loan with only one installment? That seems a little shady to me.

It is not shady, just working with in the regulations of the state. I do not do that and have not been in a position of management that had a product using those processes.

I think it's shady. The very term "installment loan" implies multiple payments.