[COLOR=black]I am new here, just discovered this site last night after I've been searching for relief on how to get help from getting off PDL. And I must say I have found a lot of helpful information which is much appreciated! I have changed my font to red on the questions I am seeking help on.[/COLOR]
[COLOR=black]My husband and I currently have 4 PDL's.[/COLOR]
[COLOR=black]All received online â€“ no store front loans.[/COLOR]
[COLOR=black]My checking account is still open due to the Check into Cash account, plus in order to close this account my husband has to contact his work as his checks get direct deposited.[/COLOR]
[COLOR=black]Â·[/COLOR][COLOR=black]Ace Cash Express (his) [/COLOR]
[COLOR=black]o[/COLOR][COLOR=black]Barrowed 600.00 with fee's = 755.55 [/COLOR]
[COLOR=black]o[/COLOR][COLOR=black]Paid 163.39 to refinance[/COLOR]
[COLOR=black]Â·[/COLOR][COLOR=black]Magnum Cash Advance [/COLOR]
[COLOR=black]o[/COLOR][COLOR=black]Barrowed 500.00 = donâ€™t remember what it is with fee's - but looking at a previous one I had when I barrowed 520.00 the total with fee's was 755.93. [/COLOR]
[COLOR=black]o[/COLOR][COLOR=black]Paid so far = 59.37, 174.80, 71.08 and 171.61[/COLOR]
[COLOR=black]Â·[/COLOR][COLOR=black]Check Into Cash[/COLOR]
[COLOR=black]o[/COLOR][COLOR=black]Barrowed 300.00 with feeâ€™s = 326.28[/COLOR]
[COLOR=black]o[/COLOR][COLOR=black]Paid 0.00 = due to come out on 6/22/12[/COLOR]
I know that Magnum is not licensed for Ohio and the other 3 are licensed as they have store front locations in Ohio.
I have contacted Ace Cash Express and they were willing to work with me and not debit any money from my account. A payment plan was set up! They were very nice about it and said it was something new they were trying in order to help people that have fallen on hardships.
I have sent a C&D letter, ACH revoke and wage letter to Magnum and I also asked for a PIF letter and within hours upon checking my account this was what I seen:
Your Status: Your account is currently in our collections department. Please contact our collections department for information regarding your account.
And my account with Magnum was current; a payment was due to come out Friday, June 15, 2012.
So, Iâ€™m a little confused on what that means?
I do plan on going to my bank tomorrow and asking for a stop to put on magnum just in case they still try.
Since sending the letters I have received no emails from them.
I also have found out that for the state of Ohio that rollovers are not permitted, and from my understanding rollovers is the same as refinancing.
So if rollovers are not permitted and Ace Cash Express is licensed for Ohio how can they refinance me? Do I have any right using previous refinance charges to lower my debt to them?
In addition upon examining my contract with Ace, I noticed they charge for the loan amount of 600.00 (which the legal amount for Ohio is no more than 500.00): Lender interest: 5.34, Lender credit investigation fee: 10.00, CSO fee: 150.00 = and what the heck is a CSO fee? Total finance charge: 165.34, APR (assumes 14 day term): 773.71%
I thought they were only allowed to charge a total of 28% for Ohio?
Sorry about all the questions, just trying to understand all of this. Much appreciated on any advice/help I receive. Thank you.
~ Kishwa (:
[FONT=Arial]FYI for those needing to send emails to Magnum: If you log onto your account on their website, there is a contact us button just right above your account box, if you click that you can send them an email. This is how I did it, plus I also sent an email to the address someone else posted on here ([EMAIL="Mgmt@mycallcenterservices.com"]Mgmt@mycallcenterservices.com[/EMAIL]) and upon looking further in my emails Iâ€™ve also come across this email address for them: [EMAIL="firstname.lastname@example.org"]email@example.com[/EMAIL] [/FONT]
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