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Can PDL's do this?

Date: Wed, 04/08/2009 - 08:45

Submitted by anonymous
on Wed, 04/08/2009 - 08:45

Posts: 202330 Credits: [Donate]

Total Replies: 4


xxxxx


No. Both of those lenders are illegal.

You only owe them what you borrowed.

All the illegal lenders try that crap that they are legal because you signed something. The contract you signed was not legal as they do not have a license.

Magnum does have one in Delaware but by their own admission they are really located in the Britsh Virgin Islands.


lrhall41

Submitted by nohiogal on Wed, 04/08/2009 - 08:48

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Hmmm, I find their reply interesting; that first part, "Borrower is responsible for complying with any local statutory obligations that may exist in their state or area with respect to any transactions with ICA dba Magnum Cash Advance," isn't that in essence saying that you're responsible for going by YOUR states' laws? Then they say you should only enter the contract if you want to abide by the laws of the BVI; isn't there a bit of a contradiction there?


lrhall41

Submitted by on Fri, 04/10/2009 - 07:34

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cynicgall777, as they are located in the BVI, I don't know that there's anything you can actually do as far as legal action against them. Hopefully you're working closely with your bank and these people will NOT be able to debit your account. Some of these outfits are very sneaky and may try to get around an ACH block by using another company name, etc. Please keep a VERY close eye on your account and keep us posted what happens. Good luck!


lrhall41

Submitted by on Fri, 04/10/2009 - 10:23

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