• Report: #224011
Complaint Review:


  • Submitted: Wed, December 06, 2006
  • Updated: Fri, September 12, 2008

  • Reported By:Newark Delaware
38 E Ridgewood Ave Ridgewood, New Jersey U.S.A.

ACA Recovery, XTRACASH1000.COM, CASHADVANCENETWORK.COM, MTE Financial Services Everything seems wrong about this setup - trying to steal my identity Ripoff Ridgewood New Jersey

*UPDATE EX-employee responds: new management

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I received a phone call at my home saying it was from an attorney's office and for me to call them back and refer to a case number. I immediately went online and found the phone number belonging to ACA Recovery. In researching them, RIPOFFREPORT.COM was a big help. I saw how many others were having problems and how NOT to EVER discuss anything with them over the phone (why get in an arguement?). So I faxed them a request to never call me again and to send me documentation of why they were contacting me.

I received a long note and disclosure in the mail. I was my first and last name, yes, but that's it.

The address on the online loan through either XTRACASH1000.COM or CASHADVANCENETWORK.COM (both are listed on paperwork), is an invalid Delaware address. It's close enough, but doesn't exist as typed.

Secondly, I contacted Commerce Bank, whom I do not even have an account, to notify them that someone was debiting someone's account and I think it's fraud. I was able to get them to look up the checking account- and it doesn't even exist.

When I concacted the "attorney" again, I found that they are an agency that represents the online lenders. They rattled off some social security number that wasn't mine and decided to just let me off the hook. They said they must have gotten my number from a directory assistance (based soley on my name).

Since the account is invalid, the address is invalid, how could this loan even remotely be valid? The annual percentage on this loan note is listed at 1,368.750% Can you believe it??? I thought there was a caps on an interest rate you could charge and I've never seen one more than 30%.

So I've got 3 bogus facts going on here. I strongly feel if I had volunteered my social security # up front I would have opened a huge problem for me. They would have started to claim my debt or worse.

NEVER NEVER give you social security number out to anyone that is not verified by you. If they ask for it over the phone, tell them too bad. If they don't feel you are who you are, then they can mail it to the address they have. I've had them tell me they've done that already - I just say do it again.

Don't use these online services. I don't know how they promise you something, but apparently it's very costly. And be cautious when someone calls you. You may not have the best credit and a call may seem expected, but verify who they are first.

I hope I've helped someone like the previous posts helped me. I do have a call into the Delaware Attorney General's office to expose this situation. I do not find this to be a joke.

Best wishes,

Newark, Delaware

This report was posted on Ripoff Report on 12/06/2006 09:55 AM and is a permanent record located here: http://www.ripoffreport.com/reports/aca-recovery-xtracash1000com-cashadvancenetworkcom-mte-financial-services/ridgewood-new-jersey/aca-recovery-xtracash1000com-cashadvancenetworkcom-mte-financial-services-everything-224011. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 UPDATE EX-employee responds

new management

AUTHOR: I Know This Biz - (U.S.A.)

i worked for them for about 5 years and recently left for another job out of state. The payday loan industry in general is frowned upon by all consumer groups. Unfortunately, it is necessary for 10's of thousands of americans. Cashadvancenetwork, now under new management since the above report, is very well run and conducts itself with integrity. ACA is not representative of the way they conduct business. They do their best to provide a service to people that need it. Most people do not take responsibility for themselves and the loan and too often blame the company that bailed them out to begin with for causing them financial stress. Get the loan and pay it back asap....the customer actually controls how much it will cost them ....sooner its paid the less it is. They give you every opportunity to pay it back when defaulted on...when a third party receives the account it is out of their hands. Borrow the money....pay it back.
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