Public Mediation

magnum credit services Dispute

M. T. vs. Magnum Credit Services
1069 Main St # 103, Holbrook, New York, 11741-1618, United States
Amount Involved: $100.00
    • Status: In Negotiation
      This claim has posted for public comment and negotiation. It will remain posted until resolved to the claimant's satisfaction. Suggest a resolution to help these parties reach a settlement.
       (seeking public comment)
    • Claimant Seeks: View.
    • Claim #: 2877145
    • Amount Involved: 100.00
    • Filed On: Apr 19, 2014
    • Posted On: May 28, 2014
    • Complaint(s):
      • Contract / Agreement / Promise dispute
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Statement of Claim
Complaint Involved (1) - View
Claimant says:
"Came across this website in March. They say that they are a referral company and they claim to be able to guarantee a person a loan regardless of credit. They charge a fee; the fee is based on the amount of money you are requesting. They say to get started you pay the fee and then magnum credit will reveal the name of the lenders whom they guaranteed will give you a loan.Once you pay the fee, the scam begins. They write to you and tell you that you must apply with 10 lenders and not one lender. It is misleading to tell the consumer that they are guaranteed a loan when in fact Magnum credit services has no affiliation with the lenders and have no control over the outcome. I do not think most folks would bother with this if they new upfront that they would be required to apply with 10 lenders and 5 credit card company's. If you don't get approved Magnum makes you provide proof that you were denied credit prior to refunding your money. Even after you provide proof they will not refund your money as agreed. I am upset because they did not reveal to me that I would have to apply with 10 lenders until after I had paid my money. Applying for a loan with ten lenders one after the other would completely destroy or at least bring ones fico score down a great deal. Plus lenders don't like to see that you have been shopping around for a loan and have 10 inquiries on your credit report. Plus they see that no one is lending you any money so applying with 10 lenders one application after the other would be like shooting yourself in the foot.
Magnum credit cannot be contact by phone I see this as a red flag. They say to email them and they will respond in 1 business day but they do not respond for several weeks. I have had contact with Donald Figueroa and David Fitzgerald and they will not refund my money plus I did not get a loan as guaranteed. Don't ever apply for credit with these people they are only preying on desperate souls."
...
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Exhibits View
What Claimant Wants Hide
1. Refund: referral fee May 04, 2014 $100.00
Cash total : $100.00
  • 0
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Respondent's Counteroffer

There has been no response to this claim from Magnum Credit Services. This claim will remain posted until resolved
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