If you're looking for a scam, then you've found it. At first, when I was told I could receive…read morebetween $2,000 and $8,000 unsecured, I was overjoyed. However, I couldn't understand how, seeing as my credit score was undoubtedly poor. I had spoken to the gentleman named Dominic, and not only was he rude when I couldn't hear him on the other line, but he was also very pushy.
He kept telling me to read the contract thoroughly. Now, I'm not saying that a company shouldn't be honest with their customers about their contract, but the fact that he was so insistent about it concerned me.
Upon receiving the loan document, I decided to take his advice seriously and read it carefully. In the loan document, if you do not have at least a 700 credit score, which I doubt anyone going to this company does, they're going to charge you either a $298 insurance fee or a $250 deposit fee that you may or may not get back within two days.
And the kicker is they don't even check your credit until you sign the loan agreement, which basically locks you into a $150 fee no matter what happens!
I found this extremely strange, as no reputable lending company would ever ask you for an insurance fee or a deposit fee for money that you probably don't even have. Then, on top of that, they will charge you a $150 fee if you sign the loan agreement and then try to back out, if you don't read carefully.
This is all before you're even informed about how you'll receive your funds or when you'll be receiving your funds. On top of this, he was still pushy and insisted the fee was only if you decided not to pay the loan, as they would be losing money since there's no collateral.
I politely told him that I would no longer like the loan, and thank goodness I did, or I would have been out $150, and probably more.
I truly recommend that if there is a safer option or a more reputable company, you go to it. Do not use Ace Cash Express. If you need a loan company and you need one now, try Lendly or Uprova. You won't get scammed, and you'll get your money.
On a final note, people like Dominic should be ashamed, trying to scam those who are down on their luck.