shakeyeraz,
If connecting a cable between the send and return jacks fixes your problem, you can continue to run with the cable, or replace the return jack. If you find that the send jack tip connection is deformed and causes problems when you use the loop, you can gently bend the jack back into place if it's an open frame type of jack.
You can find jacks at any decent electronics parts outlet. I'd recommend using Switchcraft brand parts.
- nate.