I have a payday loan ? I need advice. HELP? Serious answers please.?

Ok I took a payday loan with Ace Cash Express. I owe them 616.28. I got behind in bills so I could not re pay the loan I had with them. So , I got a call today that now it's in "their collection office" and needs to be paid immediately. I tried telling them that I can make payments , but he kept telling me that there is no option to make payments. It has to be paid in full. He did tell me that in the state of Texas and the laws with bad checks. Well he also advice me to go pay the loan , then call him with a transactions number. then i can get another loan to help me with needed bills. hmmmm i then said to him you want me to pay this loan off , then take out another one to help me with bills. what do i do ? can i go to jail for this? i will be honest he did scare me.

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  • 1 decade ago
    Favorite Answer

    The first thing you need to do is CALM Down..... yes its hard to do that, but never let anybody scare you with words.

    Ok, now lets get to the nitty gritty...... There is always an option to make payments for any company. Do know they are not in the business of offering that to every single customer that request this. But if you cannot pay the full amount, then you just cannot pay the full amount. No matter what the person is telling you, if you are making a good faith effort to pay off this loan, again don't stress! Weed yourself away from these type of loans. Swallow your pride and ask friends family and co workers to borrow the money to pay off Ace Cash Express. If you check the documenation that you signed it will tell you the consequences of not paying it as agreed. But again, don't stress over something you can't control. I used to use them and I learned the hard way and asked for friends and family to help me in my time of need for the future. Ask again nicely for a payment arrangement, and if that doesn't work ask to speak to that persons supervisor. If that doesn't work ask for the corporate headquarters address to mail in a formal complaint detailing what you tried to do in good faith to resolve this matter. You cannot go to jail for this so don't stress over that. Did you give them a check to hold? I am not sure for TX, but they may report you to a NEG file status for that account for writing future checks. Again, don't worry about that, because, 1, you can always get money orders, or cashiers check, 2. you can pay cash at places, 3. You can always go and get a prepaid debit card and add your paycheck and other deposits to your prepaid card and use that just about anywhere cards are accepted.

    And look at it this way. Say you start to send them $100/Month/Week, every two weeks or whatever the amount is you want to send..... They are not going to send you that payment back, they will accept the payment and cash the payment. Just make sure you keep record of all payments sent to them.

    Check out my website via the link below about Payday loan companies ok? And again try not to take one out, but if you do need one.... my article talks about other options....

  • Anonymous
    1 decade ago

    In the future, never use those places. This is how they make their money. They don't want people to pay them back on time...that way they can hound their customers and slap on all sorts of fees and trap you into their little scam while sucking your wallet dry!

    If you have to skip paying other bills, get them paid off, or maybe a really good friend or nice relative could lend you the money. Don't neglect this...cash advance companies are the mafia of the financial industry.

    You can't go to jail for not paying, but they can wreak havoc on your life in other ways...

  • Helga
    Lv 4
    5 years ago

    The only way to consolidate this is to go get yet another loan to cover the three. And that is a bad idea. If you owe 3 different companies - they are not going to consolidate into one as they are not one company.

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