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

Would appreciate a timely answer to this.  Thank you.  Researching on my own as well so may have already found the information.  

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   

 

 

 

 

 

 

 

 

 

 

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.