Short-Term Loan and Collection Scams



As a leading financial services provider, ACE makes it easy to obtain cash when you need it most. Since 1968, ACE has focused on serving consumers seeking alternatives to traditional banking relationships. Alternatively, scammers attempt to take advantage of consumers by offering fraudulent loans and acquiring personal information.  Please be aware that scammers are not affiliated with ACE or any person acting on ACE’s behalf.   

 

Consumers can only apply for a loan at certain ACE locations or by visiting ACE’s website. 

 

Identifying Fraudulent Loan Offers

Fraudulent loan offers may have the following characteristics:


  • Bad credit and previous loan history are ignored – There are many factors a lender may consider when making a credit decision. A lender that ignores your credit history is probably a scammer and has no intention of lending you money. 
  • Asking for money upfront – Scammers often ask for money as a requirement to receive a loan. You could be asked to send money through a wire transfer or to purchase gift cards.  ACE will never ask consumers for payment upfront to apply for or receive the proceeds from a loan.
  • Be cautious of unsolicited communications that request your confidential information.
  • Scammers may email you using generic email addresses like Gmail, Yahoo, or Outlook. Communications from ACE will only come from an ACE Cash Express or Populus Financial Group email address.
  • ACE does not email loan offers from “Loan Officers.”

 

Identifying Fraudulent Debt Collection Efforts

Scammers utilize threats and intimidation to obtain payment information from consumers. You may fall victim to a debt collection scam even if you have never applied for a loan. Beware of the following tactics used by scammers to obtain your financial information. 


  • Threats – Scammers may require immediate payment coupled with threats of legal action, wage garnishment, or taking some type of action related to your social security number.
  • Failing to provide validation of the debt – A debt collector must send a written notice containing the details of the debt upon the consumer’s request. If someone refuses to provide this information, it is likely a scam.
  • Check for emails with bad grammar, misspelling or suspicious email addresses.

 

Click here to learn more about possible loan collection scams that have been identified by the Washington State Department of Financial Institutions.

 

Reporting Fraudulent Activity

If you think a scammer is claiming to represent ACE, we recommend contacting the consumer protection division of your state’s Attorney General’s office or the Federal Trade Commission. You may also contact ACE at 866-ACE-CASH.

 

ACE Protects Your Personal Information 

 

ACE Cash Express values your privacy and internet safety. Click here to read our privacy policy and here for our Online Privacy Notice.