Today, the Consumer Financial Protection Bureau (CFPB) took action against a web of corporate entities operating under TMX Finance, broadly known as TitleMax, for violating the financial rights of military families and other consumers in providing auto title loans. The CFPB found that TitleMax violated the Military Lending Act by extending prohibited title loans to …
Question: Dear Steve, TitleMax loan 10/2019 for $1100. After the full amount payments of 180.00 for 23 months. I will have paid nearly $4300.00 back. I’ve never been late on any payments. This is the 3rd loan I have got through them also. All payments were always on time and never went into default. My …
Question: Dear Steve, We had a title loan at TitleMax on a 2005 Olds Alero. We filed bankruptcy & it was discharged. We need the title so we can get rid of the car. John Answer: Dear John, First, let me be 100 percent clear, I am not an attorney. I can’t give you legal …
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 …
Yesterday the Consumer Financial Protection Bureau (CFPB) today took action against TitleMax parent company TMX Finance LLC for luring consumers into costly loan renewals by presenting them with misleading information about the deals’ terms and costs. The lender also used unfair debt collection tactics that illegally exposed information about debts to borrowers’ employers, friends, and …
by Paul Kiel ProPublica Alarmed by the explosion of high-cost lending in the state, cities across Texas have passed ordinances to prevent the cycle of debt that short-term, high-cost loans can create. But some big lenders are finding clever ways around the laws — like giving away cash for free. TitleMax promises to “make getting …
by Paul Kiel, ProPublica, and Mitchell Hartman, Marketplace, May 15, 2013, 5:50 a.m.by Paul Kiel and Krista Kjellman Schmidt, ProPublica, May 15 This story was co-produced with Marketplace. Listen to their coverage. Seven years after Congress banned payday-loan companies from charging exorbitant interest rates to service members, many of the nation’s military bases are surrounded …
“Dear Steve, About 4 years ago I received a title loan from title max during that repayment time I lost my job and came down with some health issue which caused me to default on the loan. In 2012 I decided to file bankruptcy chapter 7. Now the motor has gone out in the 2001 …