Broke my installment agreement with Ace cash express will they sue?
Date: Mon, 08/13/2012 - 12:23
I got caught in a payday loan cycle with Ace. I owed them $500. They worked out an installment plan where I'd pay $50 a week. Well, circumstances made me homeless and I haven't been able to pay them in 2 weeks. I found a new place but am strapped for cash. I haven't contacted Ace (a mistake I know, but I can't pay them.) Do you think they'll settle for a monthly payment if I contact them or do you think they'll sue?
First they'll tell you to pay them a lot of money upfront. At th
First they'll tell you to pay them a lot of money upfront. At this point it's very unlikely they will negotiate with you other than accepting the full $500 or at the very minimum two payments of $250. If you try to get a nice customer service rep who you can tell about your situation (losing your home) you might be able to get something worked out. The unfortunate thing is, once you break the EPP it's either pay the full balance up front or they take you to court.
It is all a matter of luck now. Ace is a decent lender and usual
It is all a matter of luck now. Ace is a decent lender and usually work with consumers but since you were already on the EPP and you broke the terms of the deal (I really do understand that you had no other option), things might get a little out of hand. See if you ca scrounge enough cash to make at least half the payment on the amount owed upfront. That should ease the situation a little.
