Good News to share - Another PIF
Date: Thu, 01/07/2010 - 11:46
Please see the response I received today.
"We are in receipt of your email and it was forwarded to the lender. This response is offered on behalf of the lender, ICA. International Cash Advance, Inc. (ICA), doing business as Magnum Cash Advance, is a British Virgin Islands (BVI) corporation. No solicitation or advertisement was offered in Ohio by ICA. Customers must seek out ICA on the internet and apply on "their" web site. The choice of law governing your loan, The BVI, was clearly displayed on the web site and in the loan agreement you executed.
The electronically signed contract clearly states, "All applications, transactions, and credit decisions will be deemed to have taken place in BVI, regardless of where you may be viewing or accessing this site. 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. If we approve your application, the disbursement of funds will be in compliance with ICA policy and headquarters in the BVI. Our transactions are governed by laws of the BVI. The laws of the British Virgin Islands governing consumer loan agreements may differ from the laws of Ohio. If you do not want to enter into a consumer loan agreement subject to the laws of the BVI, you should apply for a loan at a provider located in Ohio. All aspects and transactions on this site will be deemed to have taken place at our location in the BVI. This transaction shall be governed in accordance with the laws of the BVI without regard to its conflicts of law principles, regardless of the order in which the parties agree. The Agreement shall be deemed executed at our location in the BVI as designated herein. Your acceptance of our service confirms your prior acceptance of this Agreement and to jurisdiction located within the BVI."
Regardless of these facts, the lender has no desire to expend non-productive effort by offering its services to customers that do not recognize the value of an installment loan or revolving line of credit that resolve a short term cash crisis on a moment's notice. Therefore, the director of operations for ICA has agreed to consider your last loan from 11/2/2009 as paid in full. The remaining balance has been credited and your account is no longer active and has been closed. Your request for a refund was not approved because the terms, conditions, and jurisdiction governing this transaction were fully disclosed to you, along with Truth in Lending disclosures with the initial loan and with all subsequent loans.
Sincerely,
Management
Call Center Services, Inc.
Call Center Services, Inc. is an independent outsource call center provider. CCS assumes no role in establishing client policies, policy statements, or internal affairs."
"We are in receipt of your email and it was forwarded to the lender. This response is offered on behalf of the lender, ICA. International Cash Advance, Inc. (ICA), doing business as Magnum Cash Advance, is a British Virgin Islands (BVI) corporation. No solicitation or advertisement was offered in Ohio by ICA. Customers must seek out ICA on the internet and apply on "their" web site. The choice of law governing your loan, The BVI, was clearly displayed on the web site and in the loan agreement you executed.
The electronically signed contract clearly states, "All applications, transactions, and credit decisions will be deemed to have taken place in BVI, regardless of where you may be viewing or accessing this site. 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. If we approve your application, the disbursement of funds will be in compliance with ICA policy and headquarters in the BVI. Our transactions are governed by laws of the BVI. The laws of the British Virgin Islands governing consumer loan agreements may differ from the laws of Ohio. If you do not want to enter into a consumer loan agreement subject to the laws of the BVI, you should apply for a loan at a provider located in Ohio. All aspects and transactions on this site will be deemed to have taken place at our location in the BVI. This transaction shall be governed in accordance with the laws of the BVI without regard to its conflicts of law principles, regardless of the order in which the parties agree. The Agreement shall be deemed executed at our location in the BVI as designated herein. Your acceptance of our service confirms your prior acceptance of this Agreement and to jurisdiction located within the BVI."
Regardless of these facts, the lender has no desire to expend non-productive effort by offering its services to customers that do not recognize the value of an installment loan or revolving line of credit that resolve a short term cash crisis on a moment's notice. Therefore, the director of operations for ICA has agreed to consider your last loan from 11/2/2009 as paid in full. The remaining balance has been credited and your account is no longer active and has been closed. Your request for a refund was not approved because the terms, conditions, and jurisdiction governing this transaction were fully disclosed to you, along with Truth in Lending disclosures with the initial loan and with all subsequent loans.
Sincerely,
Management
Call Center Services, Inc.
Call Center Services, Inc. is an independent outsource call center provider. CCS assumes no role in establishing client policies, policy statements, or internal affairs."
That's very good to hear! :) I just send them an email a couple
That's very good to hear! :) I just send them an email a couple hours ago to try to work out a payment plan. I've now requested a physical address where i could send a money order to them with no response. Seeing your post is very encouraging :)
I sent my original letter to them on December 28th, on Dec 29th
I sent my original letter to them on December 28th, on Dec 29th I couldn't access my account, and this is the first I have heard from them. I also followed up by filing all the necessary complaints. Good Luck!
that's awesome news!! keep us posted, the others will be gone be
that's awesome news!! keep us posted, the others will be gone before you know it!
