I placed a cash loan for the 1st time with Ace Cash Express, which has several locations around Wichita, KS. I have had cash loans, or Payday loans with different companies in the past, and I've never had a problem before. I was offered a payday loan of $500.00, and the fee of $75.00 was supposed to be waived since I was a 1st time customer with Ace. I received a live check from my work, and because the amount was over $1500.00, my bank put a hold on my paycheck until it could be verified to be valid.
I called Ace immediately on Saturday, before my loan was due on the following Monday, to let them know that I would not have the funds to pay, until the hold was lifted from my account on Wednesday. I was told that I could have an extension by Josh, a teller at Ace, until Wednesday and it would not be a problem. It was never mentioned that I would have to pay more money, or that a fee of $75.00 would be added to the $500.00 amount that I owed. On Monday, I worked from 7AM to 7:30 pm at the hospital where I work as an RN, newly hired.
Ace called my work repeatedly, to ask me to come in to pay my loan, even after I told them I would not be able to pay until Wed. They also called each of my references and asked them to pay the amount for me, because I was unable to pay that day. I had to ask them specifically to stop calling my work, or put me at risk for losing my job, because we are not supposed to get personal calls at work, unless it is an emergency.
I went in to pay the $500.00 that I owed, and I only had the exact amount of $500.00 available to me at this time to pay, until I get paid next on the 28th of the month. They refused to put the $500.00 toward my balance, because I did not have the extra $75.00 available to pay today. They told me that I should put the money back into my account, and that the $575.00 would be drafted from my account. I was very upset and voiced my disagreement with the company's policy, not to take the partial payment.
I also expressed concern for the fact that if they draft my account before my next paycheck goes in hopefully by direct deposit on the 28th of Oct. that I will be subject to overdraft fees. I got no reasonable explanation from the company, and fear that the calls to my employer will resume, as well as the calls to dunn my references. I am very displeased with the way this company does business. I was also informed by the company representative, Sherry, that Josh did not have the authority to give me an extension on my payday loan. I regret having done business with this company, and hope that no more fees and calls are applied to my account.
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