Can I be held responsible for a payday loan I never signed for?


My information was apparently given out when I was on a web site which said it would match me with a lender. A company called Ace Cash Services deposited 300 in our account without us ever asking them for a loan or signing anything. They now say I owe them 510! I told them I would be more than happy to give them the 300 but no more. What are my legal rights?

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4 Comments

  1. MoneyMonkey says:

    Never, ever give someone your bank account number in any “internet” scheme. You should consider closing that account and opening a new one and keeping the number to yourself. I suggest you settle with them, perhaps $400. However, if they take $300, then consider yourself fortunate.

  2. budsReverywhere says:

    when you filled out the paperwork for a lender you WERE sigining! Your legal rights are, you borrowed the money, you owe it and the interest they charged on it! You shouldn’t be on the compluter filling out papers when you dont know what you’re doing! Pay them! Knucklehead, you’re just gonna cost yourself MORE MONEY in the long run if you don’t! DUH!

  3. CatDad says:

    If you did not want the loan then clearly you should have given out your checking account/bank transit number. The bad thing here is that these people have everything they need to start debiting money from your checking account…even if the money is not there. You’re going to have to pay them $510….sorry. It’s safe to assume that if you don’t make your own payment arrangements, then expect them to try to debit $510 from your checking account within 2 days.
    If the money is not there, then you need to close your checking account…otherwise your account will go hundreds of dollars into a negative balance and you’ll have another separate problem to deal with.
    Offer to settle the loan for $400 and see what they say…get a signed agreement to these terms FIRST, then send a money order for this amount. If you do nothing, then in about 3 months you can expect the amount you owe to skyrocket to over $2,000.

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