Make your voice heard and make ACE pay: These are your options!
Payday loan definitions vary from one state to another but no matter where you live there is typically a short-term loan that has an extremely high interest rate. Most payday loans require repayment within 30 days and they usually have an interest rate that is 30% or higher. The loan amounts typically vary between $50 and $1,000 but the average is usually $300. They charge extra fees for every week that alone is borrowed and in many cases the total fees can result in an interest rate that ranges between 260% and 640%.
Payday lenders are notorious for using unsavory tactics that you should watch out for.
These lenders target low-income communities and Military areas, knowing that these individuals are more likely to take out a loan and less likely to be able to repay on time which results in harassment and the depletion of assets in the community as a whole.
File a Claim in Small Claims Court
You aren’t allowed to bring a claim against ACE Cash Express payday loans in almost any court with the exception of small claims court. Small claims court is a chance for you to bring your issue before your local judge, so long as your issue qualifies. Small claims courts have specific rules about which types of cases they will accept so you have to make sure yours falls within the parameters.
If you have the time to dedicate to doing the process right, as it does require many steps, and you have a good case against the company, this is an opportunity to get compensation and to make the issue public.
Locate your local small claims court. You can find information online for your local court and then follow the stuff they lay out for filing a small claims court lawsuit. It’s important to find your local and state court guidelines because every court is different.
Find your state court website here.
Assuming that you follow all of the steps precisely and you have a good claim against ACE Cash Express payday loans, there’s a pretty high chance that you will get compensation. Additionally, ACE Cash Express payday loans might even offer you a settlement if you drop the case early on.
File a Complaint with the Consumer Financial Protection Bureau Against ACE Cash Express Payday Loans
The Consumer Financial Protection Bureau is an organization that has a complaint database. They are the first Federal agency with regulatory authority over the payday loan industry.
If you have a complaint about the following, the Consumer Financial Protection Bureau wants to know about it:
You can submit a complaint online by visiting www.consumerfinance.gov/complaint. You can also call the toll free numbers 1-855-411-CFPB (2372) or TTY/TDD phone number at 1-855-729-CFPB (2372). If you want to send a fax, send it to the CFPB at 1-855-237-2392. You can mail a letter to: Consumer Financial Protection Bureau, P.O. Box 4503, Iowa City, Iowa 52244.
This is not an opportunity to get compensation but rather when you want to seek justice and help the Consumer Financial Protection Bureau monitor the activities of the loan company.
File a Better Business Bureau Complaint against ACE Cash Express Payday Loans
The Better Business Bureau (“BBB”) and its local chapters are private organizations. These private organizations collect customer complaints against a wide range of companies and then publish them. Using that information they give the companies different ratings and evaluations. But they also give the companies an opportunity to respond.
When their BBB page shows that it is actively involved in responding to complaints, you will have the best chance of getting a response from them. You obviously don’t have to wait for them to be responding to the page in order to post your complaint. You can always file a complaint against them just to get the information out there.
Go to the ACE Cash Express Payday Loans BBB profile here and follow the instructions for submitting a complaint.
The outcome is going to be completely contingent upon whether the payday loan company is responding or not. They ultimately have the power to decide to respond to you and offer compensation or not. If they’re responding you might get a response from them or from the BBB page.
The Ultimate Guide to Consumer Complaints
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