Magnum Z LLC: Is it a reliable company?

This comapny apparently have goons working for them. They'll call and threaten to send police to work or home to arrest you. It sounds like strong arming? Report them to FTC if they do.

okay i'm going crazy there is no # to call magnum and they have just send me to a collection department for fraud, they never contacted me to let me know, what should i do??

I was hospitalized for 6 weeks and after discharge
my next bank statement had a total of $1600 withdrawn
by electronic transmission to this MagnumZ that I
have never heard of--I had to sign a form to stop
the EFTs and the bank only refunded $400 (their Limit)--the bank told me the EFT was for a storage
building that I do not have. Where do you contact
these people. I want my $1200 !!

They gave me a $200 loan that I had no knowledge of....I wouldnt get a loan over the phone or the internet...and now they have taken $300 from me...So I will be taking legal action...the way I see it if they want to deposit money in my account for no reason without my consent then it's a gift right...and they shouldn't keep taking money from me...

Looks like a present to me. Sue their

****!


****Adult term removed - Jason

oops....

Katie seems nice and all over the phone, but they are not nice people.

These PDL companies have to get your information in order to give you the money. It generally looks like a loan application or an information page that asks for account information to verify you. Then it goes out into a pool and people will respond to give you the loan. It is perfect for them. The fee's are $30.00 for every $100.00. The reason the initial loans are under $500.00 is it falls under some federal threshold that gives them a lot of leeway in what they do. Once the money is accepted into your account it is yours and you have a short time to dispute it. I think you have until the first time they withdrawl money for the fees. If you allow a second one to post, then you have no leg to stand on when contesting it later because you waited to long. It is not a gift because you know the money is not yours and your bank can reverse the deposit. Once you have allowed the fees to be withdrawl you are now bound by the rules of deposit by the ACH (federal by the way). Before you close your account besure you have attempted all avenues of contacting them. YOur bank can look up where the money came from and the number of the bank and you can look from there. It sucks but..........there is a level of potential fraud if you close the account after a series of withdrawls. These people know what they are doing and know it better and faster than you. There are also several good PDL;s out there that don't play this game. You also need to make it a very short term loan or it can get very expensive. YOu should also go for one that does the automatic pay down and one that has it's own web site. ameriloan is a good one.

best of luck

This is a scam. I never agreed to it and they still say I did. What anyone should do if faced with this is CLOSE OUT your bank account. They will threaten to send you to collections but who cares. They cant collect. What they did is illegal. I called the Attonerny Generals Office , the Federal Trade Commission, and Internet Fraud people. ITS A SCAM DONT PAY THEM!!! E mail me at email address removed as per forum rules - Mike for more info.

i applyed for a few payday loan but only completed 1 loan but then magnum z deposited another 200 in to my account and i dont even reconize the name. are they even a payday loan place or was it just a way to get my info. anyone know?

Dbest Debt Doctor e-mailed me in regards to a payday loan. Their e-mail address is E-mail address removed as per forum rules. - Jason but the e-mail was signed Magnum Z LLC 1-888-276-4189. They are also associated with FTR Processing.

deleted

Only thing you can do is close your account. I never authorized them to put money into my account. They will bleed you dry until you close it...

I just had to cancel my checking account and then have been getting harassed at work by a debt collection agency. Someone applied for this loan with my soc # and when they do the e signature, if the loan isn't repaid they can garnish your wages becuase by signing the person also agrees to a wage garnishment therefore whoever's social is attached to the account, they will begin the process of wage garnishment.

a pdl will try to push a WAGE ASSIGNMENT through your employer.a WAGE ASSIGNMENT is voluntary and revokable.
a WAGE GARNISHMENT requires a court order.most if not all
internet pdl's are illegal and can't/won't get that court order.
so they try to push the WAGE ASSIGNMENT through like a
GARNISHMENT.any HR person worth there salt won't allow that.

well, I just spoke to them and the inquiry was my application. I am now stuck for not only the 300 they put in my account, the 30 and 90 they took today but an additional 90 to pay this off for a grand total of 520. Don't get roped into this one - get a second job sweeping neighbors yards or sell something - in the long run it is cheaper. And they are extremely nasty when you speak to them on the phone. Good luck to all.

if you wish to pay the remaining balance by money order ONLY you can mail it to Debt Doctors, PO Box 126, Wentzville, MO 63385 Money order must be made out to Magnum Z.
If you stop the auto withdrawals from your bank, they continue to try every day at a charge of $30 each day and they will send the bill to collections. This could get expensive real fast.