pay loan from ace cash express.?

Question

1 week before Katrina I took out a pay loan from ace cash express. When I took out the loan I had a job and fully intended on paying the loan back. With Katrina I lost my job and most of my belongings. The store that I got my loan from went completely underwater along with several other ace stores in New Orleans. I only work part time because I am taking care of my bed ridden mother. A collection agency is coming after me to repay the loan.

My question is because ace cash express stores were damaged during Katrina did they receive and insurance bond that covered the loans that were due.

Answer 1

I doubt it very much. Most people, including yourself didn't feel like a hurricane of such destruction would hit. Lets face it, it is an honest debt and you said you intended to pay it off. Why are you trying to get out of it now? Why don't you try to make some type of arrangement to pay it off.

Answer 2

Ace Cash Express New Orleans

Answer 3

Not necessarily. Your debt to credit ratio (What you owe vs. what your total debt is) is very important. So make sure you owe no more than 30% of your total credit line on any card. Most importantly, make sure you are paying your bills on time. Basically even early since when have to count for mail delivery. It positively must be received and processed by the creditor on time. Now, because of your age, I am going to hope that you do not have the above credit card problem. I hope that if you have credit cards, you pay the balance in full each month. That would be an excellent way to build credit. Get a gas card, charge your gas(then you can keep up with how much you spend on gas...bur always remember moderation) and then always pay the balance in full each month. And never close out or cancel a credit card account unless there is some sort of fraud that requires that action. Good luck.

Answer 4

If you owned a home with a mortgage of $50,000 and it was destroyed in an earthquake, you still owe $50,000. If you were smart enough to purchase earthquake insurance, the proceeds would go to the bank holding the mortgage.

If this bank, holding your mortgage, had an office also destroyed in this earthquake of course you would still owe the $50,000 EVEN if the bank had earthquake insurance.

So, you still owe Ace the cash for your payday loan. Their having insurance to cover their loss is irrelevant.

I would advise you to communicate with them. Louisiana payday loan laws allow a maximum loan amount of $350.00 with no rollovers. Ace Cash can accept a 25% partial payment plus fees which are 16.5% of the face amount of the payday loan.

If you avoid making a deal with them, Ace Cash will place you in the SCAN database. This will make your life even more difficult.

SORRY, but you did borrow the payday loan funds :(

Answer 5

It is possible to instanly acquire a payday loan as much as $1000 using this service: http://loans.servermatrix.org I got my payday loan despite the fact that I have extremely negative credit standing.

Answer 6

i hate to be the bearer of bad news but ace express is nationwide, most payday loan places are crooks anyway your going to have to pay this their interest is very high

Answer 7

I'm pretty sure that you surely must acquire a trustworthy microcredit at financial-care.info. You simply have to put your data in a few questions.

Answer 8

No, they wouldn't have received insurance to cover monies owing to them.
The only insurance settlements they would qualify fore would be damage to the office due to the storm and business interruption insurance.

You still have to pay them.

Answer 9

Probably not. They just want their money back. They don't care if you lost everything too, especially if they are part of a corporation.

Answer 10

This is a great question, and one that has been the source of confusion for me for quite some time.