Shame on these people. But due to unauthorized activity in my bank account, I had to close the account. This company claims to be a loan referral service. This includes situations such as emergencies, home improvement, consolidating debt or even that dream family vacation. Speedy Approval Free to Apply.
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I think in my personal opinion that this company is not on the up and up. I also believe they have been stopped from doing business in the US.
Applied for new loan months later and website stated due to "temporary" disruption in our ACH Processing no new loans for new or existing customers can be processed. Contacted them several times and was fed the same line. They will not admit they are out of business or shut-down. Sounds very fishy to me. Well I was looking to get a payday loan from them and received an alert from Credit Karma about a hard inquiry on my credit report.
That was red flag enough for me so I chose not to proceed with the loan. After further review of the company, they are not allowed to do business in certain states. For more information about reviews on ConsumerAffairs. The only reason why I chose Magnum Cash Advance is because they claim they don't do credit checks. Well, I have Credit Karma that alerts me every time there is a change in my credit and guess what?
They do perform credit checks and it goes on your credit as a hard inquiry bad. I didn't accept the loan after I had seen the hard inquiry from them on my credit report. I took a loan with Magnum. I had taken two PD loans with other companies 1 local and 1 internet. Magnum was the best experience of them all. The other internet loan resulted in my email box flooded with other loan offers.
Magnum said they didn't sell your name and it was true. Also, when I missed a payment, I went online and rescheduled with no hassle. I'll use them again.
I did a search to find a payday loan. I did find 2 legit payday loan websites. Ace Cash Advance was a good one and I got a loan that was not a ripoff. Moreover, they did not sell my info to others. I will use them again. The other one is Magnum Cash Advance. Neither one sold my info and I got the loan. They are not lenders but matching sites.
They claim to match you with a lender. However, they just keep bouncing you from one matching site to another. You never get to a lender! And your phone will even ring for a month! Also, they will fill up your email inbox with emails that tells you that your loan is approved. Some one needs to check into those loan matching sites. With them, you never get to a lender.
That is why I Googled lenders only, but I still just get mostly matching websites. They trick you into filling out their loan app. They need to be sued! I called Magnum Cash Advance to file for another payday loan. The customer service representative initially stated that my account is paid off and then placed me on hold. I then asked the representative to verify my contact information and the date of the loan. She verified my contact information and that the loan originated in The supervisor was of no help.
He claimed I still have to pay the balance regardless. I was even more heated and began cursing. He reminded me that the phone conversation is being recorded and eventually hung up on me.
I pursued this case strongly and effectively. Today is day one and tomorrow is day two. Damage to my credit, anger, anxiety and additional stress; based on how I was spoken to, I feel as if my logic was questioned and belittled.
I was screamed at by the customer service representative and the supervisor hung up on me. I had a payday advance from Magnum cash advance. They withdraw the payments from my bank account. But due to unauthorized activity in my bank account, I had to close the account. I called Magnum and explained what happened and at that point, they were very understanding and said we would resume payments next pay period.
Several days later, I got a call from them, stating they have tried many times to contact me by phone and or e-mail and I failed to respond. They stated I failed to make my payments, I said I already made arrangements with one of their reps. After many conversations, I faxed to them my phone records, showing I contacted them and that phone call lasted 10 minutes.
And asked them to please give this information to the manager as payment arrangements have been made. Well, I just looked at my account online and they turned me over to a collection agency called NSB. Shame on these people. These loans should be against the law, they are set up to make you fail.
And that is a real shame. They are going to have a huge negative impact on my credit for something I had no control. I borrowed and they charged me When I asked for an extension to have more time to pay the loan off they made it into a new loan and added or so.
I don't have the exact amounts because they have blocked me from logging on to see my history of loans. I lived in California at the time of the loans. Please contact your lender directly if you have repayment questions. Magnum Cash Advances is a loan matching service provider, not a direct lender.
The lender you are matched with has its own policies regarding late payments. These policies can be reviewed within the lender's terms and conditions before accepting a loan. If you are unable to make a payment on time, please contact your lender directly discuss an alternative payment schedule.
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Late payments and loan defaults may adversely affect your credit and may make it difficult to obtain future personal loans. If you have a need for cash on loans. Try applying for the right solution for you now. Payday Loans Personal Loans. What Is a Payday Loan?
Qualifying for a payday loan is simple. The basic requirements are: You must be at least 18 years of age Have a regular source of income, either through employment or benefits You must have an active bank account that allows for direct deposits To be approved for a payday loan, you must meet the basic requirements above. How Much Can I Borrow?
Can I get a loan even with bad credit or bankruptcy? How long do I have to pay back the loan?