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Online loans in TN

Date: Sun, 06/30/2013 - 07:10
Submitted by on Sun, 06/30/2013 - 07:10
Posts: 202330
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I have two payday loans. (in TN)
Magnum Cash Avance- Borrowed $1000 paid back $1216
Castle Payday - Borrowed $300 paid back $75

I have emailed letters to both although Magnum email was returned (info@magnumcashadvance.com). No response yet. I am faxing Magnum letter in the morning and going to talk to my bank to stop ACH. Loans are due 7/5 and Im hoping I can stop any more money from being taken from my account. How hard is it to get the PIF letter from Magnum and some arrangement from Castle for the balance of the principle?


Read the info in my signature line on how to deal with illegal lenders. You do NOT arrange ACH revocation with your bank...you send it to the PDL's first and THEN give a copy to your bank.

You are in control of the matter...you TELL Castle when and how you will pay the remaining balance,


Submitted by SOAPLADY on Sun, 06/30/2013 - 12:40

SOAPLADY

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Maybe I wasnt clear in my post above. I did send letters to lenders revoking ACH and wage assignment. I used the template from this site. I was just hoping that someone who has dealt with these lenders could give me some insight as to what to expect from them.


Submitted by on Sun, 06/30/2013 - 14:24

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Both of your lenders are illegal in your state. You owe them nothing more than the principal. Don’t pay them any interest or fees. Just close down your old bank account and open a new one to stop debiting money from your account. Ask them for the refund, as you have overpaid $216 to Magnum Cash advance.


Submitted by on Sun, 06/30/2013 - 22:20

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I got my PIF email from Magnum about 2hrs after faxing the letter to them this morning. Still waiting on a response from Castle.


Submitted by on Mon, 07/01/2013 - 08:06

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