Magnum Z LLC: Is it a reliable company?

Glad to see you guys were able to take care of your loans! That is great.

Still wish I could have gotten a refund from them. Might have to try to send another letter to the "West Indies"!

has anyone heard about cmg group? It's about the same as magnum z.

I stopped payment on the fees. WATCH OUT
This company is also know as Westbury, two days ago they withdrew $400.00 instead of
$75.00. CLOSE YOUR ACCOUNT & OPEN A NEW ONE!!!
Westbury
2207 Concord Pike #505
Wilmington, DE 19803
800-859-6439

I am also filing a complaint with the Attorny General. I suggest you all do the same.

i have been paying this forever 9o a every other week i need t o see if i can get this taken care of i think they owe me money i will have to fight this i gues thank you for the info kathy

Has anyone resolved this problem because I have this same issue and I really need to get it resolved as soon as possible.

how do you have a loan with this company and not know anything about them?

This just happend to me I applied for one of those payday loans at ipaydaylending.com. I got a call shortly after from a woman whos name I did not catch telling me I was approved for the loan I applied for and that the loan would show up in my account tommorow from Magnum Z. It didnt dawn on me until a few minutes later when I actually got a call from the real company I applied for the loan with who sent me all the documents I needed and approved my loan. I got several emails right after from debtdoctor and magnum Z asking me to follow an address to review my loan documents. I have emailed them to cancell this bogus payday loan and called their number but gotten no answer.

Also Arrowhead investments is directly linked with them although I was not able to find any contact info for them

I dont know who to contact I never used this company and they are debting 75 dollars out of my account.

I have called my bank and they are doing everything in their power to stop this nonsense. I am so relieved I had this forum to look at and realize I am being taken for a ride! Please know that you dont have to be a victim. Do whatever it takes to fix it immediately. I think Im going to close my account and start over.

I just barely found this web site and I also need to handle this they've already have taken $270.00 from my account. I don't know what to do. I never signed up for this loan..

Welcome to the forums? What state are you in? Have you taken any payday loans because sometimes they go by many different names. Kyside38

I just got a call from a collection company threatening to arrest me for fraud on a loan. I have no way to reach them to pay the balance off. Now some guy is calling asking for 850.00 on a 300 loan. Is is a scare tactic? I called the number posted, but get get voice mail... HELP.....

renes,

If you haven't spoken to them again, I would wait for the next call. While laws differ from state to state, I have yet to read the article about someone who was arrested over not paying back a loan.

What they can do is sue you in small claims court, win a judgment, then try to garnish your wages, but somehow I have the feeling that companies who use these tactics won't go through that process.

If the loan isn't legitimate (i.e. you don't have one outstanding), I would trace the call and report it, as it could be a scam to force money out of you. If it is legitimate, I would go to your lender and work out a payment plan with them.

Depending on the state, once a loan goes into default, they are limited to collecting only the principal on the loan and not the interest. It's still a hit to your credit report, so I don't recommend it, but it may be an option where you live.

Check with the local/state laws before proceeding so you are aware of your rights in this situation.

Good luck.

Some lady from a place called bad debt investagations called me today saying that I still owed magnum $420 on a $300 dollar loan. I have already paid them $560. I put a stop payment on them but She said if I don't pay by the end of August that they would take me to court. Do i pay them or not?

Jen ~ I would say that you have already paid them off. I don't think they are going to take you to court. I have been trying to get a refund from MagnumZ, LLC and was told I had to send letters to the West Indies, needless to say no response or the letters have been returned as undeliverable. What state are you in? You might check to see if they are licensed in your state.