Call from Magnum Cash Loans (Library)

Joined: 31 Mar 2008 Posts: 11 490 Debtcc Points

So I just received a phone call from what I think is one of the folks in charge of Magnum Cash Loans, Tom Kane (Caine?).

I had previously sent them a letter requesting my account be considered paid in full and also a refund for the overpayment on prior loans.

I'd gotten a message from him a couple of weeks ago, and in the meantime, I revoked the final payment I'd made to them, and gotten credited back from my bank. That credit went part of the way wowards the overpayment, but there's still a balance of $300 or so that I overpaid based on VA law.

Today, Mr. Kane called and offered to consider my account paid in full and to "wpie the slate clean". He said that they've sold the domain name, are raming down the business and are only dealing with collection accounts now, and that they haven't made any new loans since January.

I figure a paid in full is the best I'm going to get, and to be honest, Mr. Kane didn't sound like a happy man, and (maybe I'm too trusting or naive) I believed him when he said he was just trying to clear up all the loose ends and get out of the business.

So I have to count this as a success story - another loan dealt with.

Joined: 16 Oct 2007 Posts: 218 692 Debtcc Points

What website do they use?

starkllr2@yahoo.com · Guest 100 Debtcc Points

Well, the website is:

magnumcashadvance

It's still up, but now it also says,

(c) International Cash Advance 2008

And when I called a couple of days ago, an operator answered the phone "Military Advances" so I'm not sure.

Like I said, I got the sense from Mr. Kane that he was telling the truth; he sounded like he just wanted to be done with it all.

So maybe he and his partners just sold the company - but he did specifically say they haven't made any new loans since January, I don't know if anyone else has tried to do business with them to verify that.

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