A long story & a call for advice: Ace broke contract
Date: Thu, 11/15/2012 - 12:58
Be VERY CAREFUL setting up ANY sort of plan with Ace. In accordance with my state's very explicit and specific laws around PDLs, I was granted a 7 day extension in which to set up an appointment with a Credit Counselor. At that time, and upon receipt of a letter from an approved Credit Counselor saying I had made an appointment, I would be granted another 53 days in which to have said appointment and then subsequently pay off my loan.
Not only did I make the appointment, I completed the appointment the same day, and my counselor faxed in the appropriate documents five full days before my extension of 7 days was up. Twice. Ace pretended to never have received the paperwork, and drew the ACH the day the loan was originally due. After 2 days of dealing with snotty, verbally abusive reps from Ace who told me that "debt counselors lie all the time", regardless of the fact that I AGAIN had the counselor send not only the paperwork but proof it was sent to them (now a third time) via fax receipts showing the fax numbers legally registered to Ace Cash Express---I went to my bank and filed a fraud report. I then opened a complaint with the Office of Financial regulation.
I was advised to contact Ace once more to attempt to set up a plan, as I never had any intention of not paying it, but after 2 hours of being transferred, hung up on, and screamed at---screw them. Not one of them would send me ANYTHING in writing. THEY violated the implicit law of my state, I can prove it, and I refuse to continue to attempt to make good on this loan if they aren't willing to participate. They behave like animals, therefore I will not play this game any further. Too bad for them---they broke the law when I did everything I was asked to do to fulfill state regulations.
If you enter into any sort of agreement with these piranhas, get it in writing and FOLLOW UP DAILY.
To add to my above, this morning called my bank's customer claim center today to be sure they had received my paperwork. I was told that the temporary credit given back to me will either be reversed to my detriment OR the merchant will owe the bank. I was immediately confused as ACE has sent my account to collections. Lo and behold, although Ace is claiming they never received the ACH transfer and have sent my account to collections, my bank states they did indeed get the money (which I already knew).
So: I now am dealing with the violation of FL law, but also a complete meltdown of reality from Ace. Truth be told, I'd RATHER they had simply not gotten the ACH and put me in collections, but in reality they not only HAVE my money but are now trying to double dip by putting me into collections so I will set up a payment plan. I'm waiting to hear back from someone in the office that actually does the groundwork on these cases with the bank so I can give them this information (as the nice lady in India couldn't do squat for me )
The Office of Financial Regulation is a joke---my caseworker was all but defending Ace ("gee, I've never had problems with them before") and couldn't give me any outcome scenarios---in other words, I asked "so what will your office DO after you discover this illegal behavior. What's the point?"
If anyone has an idea of a useful resource to go after these bastards, I would sure appreciate it.
I will cut this story even shorter: 1. You should have revoked
I will cut this story even shorter:
1. You should have revoked ACH if you did not trust Ace. That would have been the end of all the controversy.
2. An account statement from your bank would clearly show if Ace debited the account/received the ACH transfer or not.
3. When money is involved, you should automatically make any kind of agreement in writing. When you got the counseling paperwork you should have gone down to the store and handed it to them.
4. You are dealing with people who you borrowed money from and lending is their business and they would do everything necessary to get their money on time. Moreover, the local store people are generally ill informed. You should have called their corporate office if the locals were behaving rudely with you.
5. What laws have they broken? Do you have the paperwork to prove that they lied? If you do, excellent, get a consumers affairs attorney and sue them. If you do not have enough proof, the case will not stand.
6. All of this could have been avoided if your counselor, instead of sending out paperwork, picked up the phone and asked Ace for the EPP. For that matter, you could have done so yourself. The balance of the loan would have been split into 4-5 payments spread over months and the interest would have been frozen.
I agree with Steve. In terms of the lenders we deal with every d
I agree with Steve. In terms of the lenders we deal with every day, ACE is generally one of the better. Now, they are a payday lender. And a legal one at that - any payday lender is a loan shark. But ACE is usually reputable for a PDL. That's why your regulator told you he/she never hears complaints about them.
That said, I suggest if you truly think laws were broken, find a NACA attorney and do a consultation. I am not an expert on Florida law, but in my opinion no laws seem to have been broken. Again, consult an attorney if you disagree.
1. You should have revoked ACH if you did not trust Ace. That wo
1. You should have revoked ACH if you did not trust Ace. That would have been the end of all the controversy.
I had no reason to not trust them. Hours on the phone working out the plan with ACE, hours doing the credit counseling, verfification with the counselor and ACE that the paperwork was faxed. What else should I need to do, really?
2. An account statement from your bank would clearly show if Ace debited the account/received the ACH transfer or not.
As mentioned, the BANK is stating it was drawn. I think they might have access to my account when they say that.
3. When money is involved, you should automatically make any kind of agreement in writing. When you got the counseling paperwork you should have gone down to the store and handed it to them.
It was an internet loan. The stores do not factor in.
4. You are dealing with people who you borrowed money from and lending is their business and they would do everything necessary to get their money on time. Moreover, the local store people are generally ill informed. You should have called their corporate office if the locals were behaving rudely with you.
Again, stores are not a factor. And the rudeness CAME from corporate.
5. What laws have they broken? Do you have the paperwork to prove that they lied? If you do, excellent, get a consumers affairs attorney and sue them. If you do not have enough proof, the case will not stand.
Florida State law regarding debt presentment providers requires lenders to grant a 60 day extention with no fees or interest. ACE requires the debt counseling when they fulfill this law. As writted above, I clearly fulfilled these requirements to be granted my extention and yes, I do have above (see above).
6. All of this could have been avoided if your counselor, instead of sending out paperwork, picked up the phone and asked Ace for the EPP. For that matter, you could have done so yourself. The balance of the loan would have been split into 4-5 payments spread over months and the interest would have been frozen.
Again, your statement that the balance would be split is invalid (see Florida Law). And no, I could not have done so myself as (see above) ACE requires the fulfillment of the debt counseling by consumers. A phone call is not enough. As you mentioned, paperwork is required by all participants to make this agreement, which is not an EPP as Florida Law has other provisions.
Pardon the error: it should read Florida State law regardin
Pardon the error:
it should read
Florida State law regarding deferred presentment providers requires lenders to grant a 60 day extention with no fees or interest
Finally, I am not looking to sue (first of all, it's not my thin
Finally, I am not looking to sue (first of all, it's not my thing and secondly, if I could afford a lawyer, would I have been taking a payday loan??:p). I simply want ACE held accountable for this behavior, I want my 60 day extention, I want to not have to be on the phone constantly and freaking out about my bank account, and I want them to be careful before they try to pull this crap with anyone else because it's on the books.
I don't think I'm asking a lot.
Then like we siad, you're going to need to consult an attorney.
Then like we siad, you're going to need to consult an attorney. The state regulator didn't help you, so the attorney is your last chance.