"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 The remaining balance has been credited and your account is no longer active and has been closed.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.
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."
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.