TitleMax

TitleMax – Consumer Complaint – September 12, 2019

Written by Consumer

Consumer Statement:

Just last week I made a payment on my account. ($830) towards my principle which brought the amount down to $2562.61. This evening, I logged into my account, and found that it increased to $2818.61. I’ve done research on the legal issues with this program, and has developed a concern to the hefty increase.

There’s nothing in my contract that states that my principle would increase as I try to pay it off. Taking out this Title Loan was due to my need to try to send my daughter to college. NOW…. I’m stuck with fluctuating payments that is unfair.

I’ve had a loan before, and NEVER had this happen.

Can you please help? Attached are samples of the increase.

There’s no telling how long this has gone on with my account, and other customer’s accounts.

Can you please help?

Consumer Action Taken:

I’ve sent several emails with no reply.

Date This Problem Happened: September 8, 2019

State You Live in: AL

Race/Ethnicity: Black or African-American

Age Range: 36-50

Total Amount of Fee Paid:

Company Name: TitleMax

Company Address:

15 Bull St Ste 200
Savannah, GA 31401

Company Telephone Number: 888-869-4522

Website of Company: titlemax.com


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READ  How Do I Get My Title Back from Title Loan Company After Bankruptcy?



About the author

Consumer

This is information that was submitted by a third party and not generated by GetOutOfDebt.org or Steve Rhode.

3 Comments

    • We at Actions for Justice ( AXJ ) have been investigating the activities of many of these so called “Title Loan” companies and have found them to act against many Federal Laws including the FDCPA, FCA, etc.
      We suggest that you to please file a complaint with the Consumer Financial Protection Bureau ( http://www.cfpb.gov ) immediately, and with your local Attorney General in your State, and also the Department of Business Oversight. Also check for an Arbitration Clause in your contract and file for Arbitration immediately. These companies have created a Ponzi Scheme whereby you never payoff the debt and at the first 1 day late payment they will repossess the vehicle and hold it “hostage”. Then they will blackmail and extort you for payment and if you do not sent them the extortion money they will sell your vehicle at auction. Also they do not respect Bankruptcy automatic stays and are in contempt of Court. Please search all these “Title Loan” companies including Loan Marts, Wheels Financials, Titlemaxes, etc. and report them. You can always request an injunction and file a restraining order against them. We know that class actions are being created against them as we review the complaints coming in.

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