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I live in ohio and about 2 years ago took out a pa

Date: Mon, 05/23/2011 - 06:10

Submitted by clevbrnsfan1
on Mon, 05/23/2011 - 06:10

Posts: 3 Credits: [Donate]

Total Replies: 4


I live in ohio and about 2 years ago took out a payday loan with magnum cash advance of about 800.00. I have been stuck every since. Now im up to 1200.00. and every 3rd pay i have to roll the loan over and end up paying about 540.00 every pay for 3 more pays. I then restart it again cant never get to the 4th and final payment. always end up behind and needin the money again feel like im in a trap and cant get out......... Is there anyway out of this I have seen a few other posts saying that magnum cash is not legal in ohio is this true and if so how can i get out of this trap........... thanks for your help...... Lost in Ohio


As far as I know, Magnum Cash is not legal in Ohio. You can contact the Ohio Division of Financial Institutions in this regard and they can better help you. If they are illegal, then you can pay them the principal balance and stop all communication with them. If you've paid them more than your principal balance, then you should ask them for a refund. They are bound to give you a refund.


lrhall41

Submitted by Anna Sweeting on Mon, 05/23/2011 - 21:23

( Posts: 1827 | Credits: )


Quote:

If they are illegal, then you can pay them the principal balance and stop all communication with them.


If you haven't paid the principal balance yet, you may settle it now through a written agreement and make sure that your payments are only dispatched via money order. Don't make any payment through prepaid cards.

Quote:
If you've paid them more than your principal balance, then you should ask them for a refund.


Absolutely! Ask for a refund and don't forget to ask for a receipt or letter which states that you've paid your dues in full. You may either achieve both the letter and the receipt or just any one of them.


lrhall41

Submitted by Jeorge Preston on Tue, 05/24/2011 - 23:55

( Posts: 180 | Credits: )