Going after Magnum Cash, need advice please

Here is the letter I sent them;

This letter is to inform you that I am aware of the FACT that the loan you issued to me, is NOT legal or binding in my state. For your convenience, I have included my state payday loan laws below.

"State Legal Status
Lending of payday loan is considered legal (-Low Cost) in the State of Ohio.

Loan Specifications
Maximun Amount of Loan - $500
Term of Loan - 31 days
Maximum Rate of Finance and Fees- 28% per annum
Finance Charge on $100 loan for a 14 day period - $1.08
APR for $100 loan for a 14 day period - 28%

Debt Limits
Maximum Number of outstanding loans permitted at a time - 1, 4 per year
Permissible number of Rollovers - None
Cooling-off Period - Limit of 2 loans in 90 days
Repayment Plan - Yes, available. 60 days time period. No fees.

Limits of Collection
Collection Fees - a) Bank charges (if disclosed); b) Collection charge of $20; c) Court costs arising after default; Damages
Criminal Action - Prohibited"


The state of Ohio requires Internet payday lenders to be licensed in MY state. I have already researched this information, your company does NOT have a license to lend in the state of Ohio, if I am mistaken I will need proof in the form of a license number so that I may verify it with my Attorney General. I am bound by the state laws where I reside. As I have no presence in your state, therefore I have no legal obligation to the 'governing laws' you may have detailed.


Be advised that as of today, 5/9/2011, I am revoking ANY and ALL ACH authorizations with your company from debiting any AND all of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I also revoke ANY and ALL wage assignments I may have signed, by you, including but not limited to; any of your affiliates, dba's, and collection agencies assigned to this account. None of the above have my permission to access my accounts or impose a wage assignment.


I will only communicate to resolve this matter via email. If you ignore this notice and attempt to contact me or any of my references via telephone, you will be ignored and any payments owed will be delayed. I am willing to pay the principle amount of the loan only, however, no address means NO payments, this is not negotiable.

If you do NOT reply to this notice within 48 hours I will be forced to file complaints with my Attorney General Mike DeWine, the BBB and the Federal Trade Commission. If you reply to this notice with any misleading legal implications or menacing course of actions you are unable to follow through with, I will be forced to take actions against you.

In addition, I want a letter stating that my account is paid in full, and a refund of all moneys paid above and beyond the primary balance. I have borrowed $2325 from you over the course of 8 individual loans for $400, $400, $100, $200, $400, $150, $300 and $375. I have paid $4816. This means I have overpaid you $2491. Ohio state law says that all 'rollover' loans are illegal, and you have allowed me to extend my loans by taking out new ones MULTIPLE times.

Sincerely,

xxx

I too had this same situation with magnum, I had taken out a few loans with them and sent the revocation letters and all last week. I still "owed" on the loan principle however with all the loans had it to where they owed me over 600$. I recieved an email back just this morning telling me that basically my account was concidered paid in full!! and they would not refund me the money. I was suprised however that they did not try to harrass me! so good luck, I think you will probably recieve the same letter!

Oh I fully intend on getting my refund and I will harass the #%#@ out of them until I do. Would a consumer attorney sign on for a measly $2000?

Just got off the phone with them, the guy on the other end said "Im not going to discuss any of the legalities with you unless you get the power of an attorney" and then he hung up. What the heck, I need documentation to call on behalf of MYSELF?

Well I got my PIF letter with the typical "you agreed to the BVI laws when signing this contract". I'm not satisfied though, I feel like a PIF letter is basically them saying "We've been raping you for over a year now, and now that you realize it is illegal for us to rape you, we're going to stop raping you". But my butt feels a little RAW from all the raping, so I don't think I'm going to stop here.

"All requests for refunds must be mailed to the following address:

ICA Management Inc. Attn: Melanie Lewis
dms House
20 Genesis Close
PO Box 31910
Grand Cayman KY1-1208
Cayman Islands"

I've already contacted my AG, I'll send a letter or two to this address, but if its in the Cayman Islands I doubt I'll EVER hear back. So guess what? I'm going to call them and demand a negotiation of a refund, and if they don't refund me, I'm taking it to small claims court. I've got all the documents ready and I'll be filing with the county clerk sometime this week :)

You are wasting your time Tony. For a case to proceed in small claims, the defendant must be served and that is not going to happen in the Cayman Islands. Your court has no jurisdiction (sp?) over ICA due to thier location.

All you are doing is throwing good money at bad...