How To Stop Ace Withdrawal From Acct

I live in Texas and I made a $1300 payday loan with Ace online that is coming due on Friday. Some things have changed and I can\'t afford to pay it back all at once, nor can I afford to extend it and pay just the additional $300+ in interest.

I closed my checking account with Bank of America today but I was told that it can be reopened if any electronic deposits or withdrawals come within the next 30 days.

Am I going to be hit with a $1600 ACH withdrawal (and associated overdraft fees) or would something this large be denied?

Can either Ace or the bank take money from any of my other accounts to pay for this?

I have no problems paying this off in payments, as long as they don\'t keep adding on outrageous interest, but when I called last Fri to ask about an Extended Payment Plan they said they didn\'t have anything like that.

Any advice is greatly appreciated!

5 Answers

Ace Cash Express is who I am dealing with. I have already closed my bank account and I sent Ace and BofA the ACH revocation letter. I got a reply from Ace saying they received it and this automatically sends it to Collections.

Today they started calling about that. They want $315.60 a paycheck to be on a payment plan. They can\'t accept me mailing in a money order. I have to either use a debit or credit card (not gonna happen) or pay cash at the store. I told her I can\'t afford that much each paycheck so she said to make \"good faith\" payments of what I could at the store but collection would continue if its not the full amount.

Ace Cash Express is who I used. I asked last week for an Extended Payment Plan and they said they didn\'t do that. I fully intend on paying them. I just can\'t do it all at once right now and I don\'t know how else to stop it or to stop the interest from snowballing.

You need to send Ace an ACH revocation letter.  And give a copy to BOA.  That way, if they put it through, they will have to reverse it.


Call Ace and tell them you can't pay.  Ask for an extended payment plan.  Don't hide from them.  They will sue you.

How to Deal with Unlicensed/Illegal Payday Lenders - Step by Step Instructions

I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.

Are you talking about ACE Cash Express or Ace Cash Services? Ace Cash Express is legal. However, Ace Cash Services is not. Ace can't take money from your other bank account. 

At first try to find out whether or not the pdl company is licensed in your state. If not, then you are liable only for the principal balance. No need to pay them any interest or fees. Close down your old bank account to stop unauthorized withdrawal. Ask them for a refund if you have overpaid them.

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