Question about Magnum
Date: Tue, 06/19/2012 - 11:21
I was happy to get a paid in full email from Magnum at 8:54 am this morning, but then at 12:25 pm, they sent me this email:
This letter is notice that the above loan is now in default. This default has occurred as the result of the closure of your account at xxxxxx BANK. Your non-payment is a violation of the Consumer Loan Agreement and Promissory Note which you signed.
Your account is being forwarded to a national collection agency. If you do not respond to their attempts to contact you, your default will be reported to the major credit bureaus (Experian, Trans Union, and Equifax), which will severely impair your ability to obtain credit in the future.
To avoid these actions, you must contact me within five (5) business days of the receipt of this letter.
[SIZE=2][/SIZE]
I responded back with the notice I received that my loan was considered paid in full. Is there something else I should do?
Nope. That's exactly what I would've done. If a collector does
Nope. That's exactly what I would've done. If a collector does contact you, do the same.
Magnum Paid In Full
I too received an e-mail that my loan was paid in full this morning. They stated that if I think I am owed a refund to send a letter to to a contact in the Caymen Islands. They owe me $1894 but I am happy just to get the thing paid in full. I will send the letter and we will see what happens...
Quote:I too received an e-mail that my loan was paid in full thi
Quote:
I too received an e-mail that my loan was paid in full this morning. They stated that if I think I am owed a refund to send a letter to to a contact in the Caymen Islands. They owe me $1894 but I am happy just to get the thing paid in full. I will send the letter and we will see what happens... |
Yay!
Are you feeling better about things now? :)
Great! Looking forward to hearing about your continued progress!
Great! Looking forward to hearing about your continued progress!
My Payday Advance e-mail
I received this today and sent them an e-mail to pay the $95.00 on the principal left on the loan in 2 monthly payments. I was going to file complaints with the Ftc and the State Attorneys office and the BBB but cant find their address... Was wondering if you have heard of them and have any contact info... Thanks Again...
Tribal Lending Enterprise, DBA
MyPaydayAdvance.com
Thursday, July 12, 2012
Dear Lawrence Liuzzi,
This letter is being sent in an attempt to settle an outstanding balance on your account. The balance on your account is currently $870.00. We are currently able to offer you the opportunity to close out your account at a discounted amount of $685.00.If you are unable to pay this amount at one time, you may divide your full balance of $870.00 in to payments to satisfy this account. Payments must be made via Visa or MasterCard debit /credit cards. Please keep in mind that by taking advantage of this offer, this will keep your account from being sent to Outside Collections as well as the Credit Bureaus.
Be advised that this is a time sensitive offer that must be replied to within 3 business days by Email or Phone.
Sincerely,
Jay Shedrick
Collections Specialist
[FONT=Times New Roman][SIZE=4][COLOR=#0066cc][EMAIL="JayS@mypaydayadvance.com"]JayS@mypaydayadvance.com[/EMAIL][/COLOR][/SIZE][/FONT]
800-884-4001 ext 2252
dillusional and stupid
those are two words i use to describe that email.i would file the AG,AND FTC complaints.then resend the original email,and keep resending.they will eventually get the message.
My Payday AndvanceUpdated New E-mail
In todays e-mail from My Payday Advance they sent this to me... This is after I have submitted complaints to the BBB The Ftc and the State Attorneys office. I owe the $95.00 dollars to pay off the principle and have offered it to them on several occasions. Below is my e-mail and also their responce today.... How would you handle this....
Thanks Larry
SETTLEMENT OFFER
MY PAYDAY ADVANCE.COM
MY PAYDAY ADVANCE has authorized a settlement on your account. The settlement can be paid in 1, 2, 3 or 4 weekly or bi-weekly pmts. This offer is valid until Friday, 7/20/12. Your account will then be assigned to the credit bureau and you will be responsible for the total balance, plus an additional 25% in legal fees.
If you would like to accept this settlement offer, please review the details below and email your Debit Card#, Exp. Date, 3 Digit Security Code on the back, and the dates payments can be charged on the card. Visa or Mastercard only. (No Gift Cards or Greendot Pre-Paid Cards, Visa Greendot and Walmart Pre-Paid Card will be fine).
If you have any questions, please call 888-255-1110 x 1787 or reply directly to this email.
Account Balance: Settlement Offer:
$870.00 $650.00
Payment Options
1pmt. $650.00
2pmts $325.00
3pmts $220.00, $220.00 & $210.00
4pmts $165.00, $165.00, $165.00 & $160.00
Sharri
MPA Settlement Officer
888-255-1110 x 1787
[SIZE=3]July 11, 2012[/SIZE]
[SIZE=3]Dear Lender,[/SIZE]
[SIZE=3]It has come to my attention that in the state of Alabama, of which I am a resident, payday loans must be licensed by the state of Alabama to offer loans. Since your company has no license in my state the loan contract I have with you is not valid or legal. Although, I am not legally required to do so, I am willing to pay the principal of the loan only. After totaling the loans I have made through your company and subtracting the amount above the principle. I owe $95.00 and will pay in 3 monthly installments of $31.66 starting in August. I am also revoking authorization for ACH withdrawals from my bank and any wage assessments I may have signed, also wage assessments must be signed in person. Any future attempts to collect funds in this manner will be blocked. I have given a copy of these revocations to my bank and to my employer. After discussing this matter with the Alabama State Attorney???s office you are not allowed to harass or call any of the phone numbers you have, which include work, home or cell as it is against the law. I will communicate only with you through e-mails and I will respond only through e-mails. I will pay these payments only after receiving an e-mail that you will honor my request and mark the loan paid in full when payments are completed for the principle amount of the loan only and must be stated with this condition in the e-mail response. If you do not want to honor my request I will file complaints with the Ftc,The State Attorneys office and the BBB. I will not respond to lawless collection agencies in regards to this matter as again your loan is not legal in my State. . [/SIZE]
respond this way
i only owe 95.00 idiots,and any attempt to report this on my credit will be disputed off.i am filing AG and FTC complaints against your"illegal lender"as trying to reason with you is like talking to a wall(and i might get better conversation from the wall)if you think you are getting more than the 95.00 you are as crazy as you are illegal.
respond that way,and do not waiver.stand your ground.