Complaint Review:
ACE CASH EXPRESS; Fort Worth TEXAS 76135
ACE CASH EXPRESS; Fort Worth, TEXAS 76135 A SUPPOSEABLY LAWYER CONTACTED MY MOTHER STATING SHE WAS BEING SUED FOR A HOT CHECK!! WHAT? I THOUGHT IT WAS A LOAN.... Lake Worth, Texas
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ACE CASH EXPRESS; Fort Worth, TEXAS 76135
6304 Lake Worth Blvd
Lake Worth, Texas
United States of America
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8172374152
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Where do i begin? Well my mother was having financial problems due to her not being able to work, See she works in Construction as a Heavy Equipment Operator. So when it rains she doesn't work. Anyway, She took oy a loan with the so called people that ar supposed to be helping and at first she paid off the loan and got another one out which the next loan was $1000.00 and she starting paying this stupid intrest pay that she only thought that she would have to pay one time not every dam month and on top of that the loan never decreases. All that money for nothing!!! So like i said my mother had been out of work due to the rain as u can tell by watching the news. Now my mother was contacted by a collection agency which sounds by my moms story they were very rude towards her. They eventually worked out a payment arrangements but due to the weather my mother wasn't able to pay for it. So now a so called Lawyer has contacted her by phone and is telling her that if she doesnt pay by 3pm today she will be reported and the loan she recieved will be considered a hot check. Now my mother is freaking out becuase she doesn't have the money and shes on probation and if this aka attorney does do what he says she will violate her probation, and she will serve a sentence of 10 years for a dumb loan. I honestly dont think my mother has committed a crime here. WHAT DO YOU THINK SHE SHOULD DO? I'm freaking out... Please help!!!
3 Updates & Rebuttals
Stillstanding56
Richardson,Texas,
USA
What is the Statute of Limitations for PayDay Loans in Texas
#4Consumer Comment
Sun, November 18, 2012
Would appreciate a timely answer to this. Thank you. Researching on my own as well so may have already found the information.
C
dallas-fort worth,Texas,
U.S.A.
You are mistaken in this procedure
#4UPDATE EX-employee responds
Tue, February 16, 2010
To the person who commented about this report- ACE does NOT turn over checks on loans to the DA, and there is nothing that involves taxpayers paying court costs because the person who got the loan is not ever taken to court. They are allowed to send an ACH to the person's bank if the loan is not paid by the day it is due- there is a signed contract telling the borrower exactly that. If it bounces, it goes to ACE's corporate office and it stays in early collections for a small length of time and then it goes to advanced collections. The worst thing that can happen when it's all said and done is the loan will end up at a third party collection agency. They can NEVER treat this loan as a bad check. If they say they are, then they're lying. I know that their collection practices are really rigid and I also know that they insinuate things and let you figure out what it means. They use scare tactics and people fall for them because they think they have a bad check out when in reality, they do not. I also know that they have some very unethical collectors that will make borrowers think their whole world will end if they don't pay. The contracts are air tight, but nobody ever reads them. I know all this because I was in management for ACE for 5 years. I personally did not allow my people to use these scare tactics, but after I left, it all changed and basically, they say whatever they have to say to get you to pay. If they don't get caught breaking laws, then they get away with their illegal speeches. But don't let anybody kid you, they are not taking anybody to court over these loans.
Cory
San Antonio,Texas,
U.S.A.
Let Me Explain Something To You
#4Consumer Comment
Thu, September 24, 2009
Those "payday loans" at ace cash express have an interest rate of FIVE HUNDRED AND THIRTY PERCENT INTEREST PER YEAR, PLUS any fees they tack on. What that means IS that IF your mother BORROWED $1,000, she will have to pay them BACK $6,300 OR MORE by the end of the first year. There's no getting around it. They post their interest rate IN LARGE LETTERS ON THE WALL and she would have signed that she understood AND agreed to THEIR TERMS before she got the loan. To top it off your mother would have given them one of her checks. The really crooked part IS, IF a customer doesn't pay, they deposit the check, the check "bounces" they turn the check over to the DA's office and AT TAXPAYER expense, the county goes after your mother. Talk about a rip off. The taxpayers are footing the bill for this and all those other companies to collect their money. Your mother probably paid well in excess of her original $1,000 loan, so what they're trying to collect is their "profit". Had a gal I know borrow $400. She had already paid them $800 and they claimed she owed them another $400 MORE, after like 4 months. They have large signs that say they are unable to make loans to military personnel due to the gov. outlawing their rates.