• Report: #241962

Complaint Review: 1-800LOANMART

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  • Submitted: Mon, April 02, 2007
  • Updated: Sat, February 01, 2014

  • Reported By:Bayside New York
1-800LOANMART
15821 Ventura Blvd. Suite 185 Nationwide United States of America
  • Phone: 800-562-6627
  • Web:
  • Category: Loans

1800LoanMart REVIEW: 1800LoanMart has made a commitment to total customer satisfaction. 1-800-LoanMart have reviewed prior complaints, 800-LoanMart made changes to assure that they no longer occur. No matter the type of complaint, executives at 1-800-LoanMart require that every complaint is reviewed thoroughly and taken seriously. 1-800-LoanMart is the largest car title loan company in California for a reason, and it intends on keeping it that way.
*UPDATE: 1800LoanMart pledges their commitment to Rip-off Report Corporate Advocacy Program. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business.

*UPDATE Employee: Corporate Advocacy Program

*UPDATE Employee: Terms of your contract we not met.

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SPECIAL UPDATE: November 10 2011:1800LoanMart improved their business practices over the years to better serve their customers and remains committed to increased customer satisfaction. To show their dedication, 1800 Loan Mart is truly committed to making sure their customers are satisfied and that any complaints which do arise are addressed promptly and fairly. As we all know, complaints will happen no matter how hard a company tries.

As time has passed since they became a member, 1800 Loan Mart has made good faith efforts to resolve all complaints reported on Rip-off Report. Based on our experience, the member business has proven to be among the top members of the Rip-off Report Corporate Advocacy Business Remediation and Customer Satisfaction Program as a Verified Safe Business.

Since becoming a member, 1800LoanMart has remained actively engaged and improving the way they address customer service complaints. As an active and current member of the Rip-off Report Corporate Advocacy Business Remediation and Customer Satisfaction Program we are happy to report that now more than ever 1800LoanMart remains committed to improving customer satisfaction and tries to go beyond good customer service to help their clients Remember, no company or individual can ever satisfy 100% of the people 100% of the time. There are no products or services that will always be perfect for everyone and even the best companies will receive complaints from time to time. However, by participating in the Corporate Advocacy Program, the member business has made a commitment to working with its customers to resolve complaints quickly and fairly whenever possible.

Please keep in mind that as a consumer you have some responsibilities as well. Success has many definitions that based on your past experiences, current situation and your perceived expectations. Success with any product or service is always based on the proper application and understanding.

The Corporate Advocacy Business Remediation and Customer Satisfaction Program will help you get your voice heard but please, always be prepared with documentation and fair representation of your concern, also have an idea of how the company can fix your concern. Can they offer additional services, extend warranties, offer a fair refund or just get you talking with someone that can help. ..let them know and let us know!

*Any consumer not receiving satisfaction from a member of the Corporate Advocacy Program should email us at editor@ripoffreport.com
 1800LoanMart is Rip-off Report Verified

Rip-off Report REVIEW:

Editors UPDATE: Positive Rating and Recognition has been given to 1800LoanMart for its Commitment to Excellence in customer service.

Rip-off Reports investigation of 1800LoanMart uncovers an ongoing commitment to total client satisfaction. This means that clients can expect that 1-800-LoanMart will always work towards finding a mutually satisfactory resolution to any complaints or concerns. 1-800-LoanMart listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services she offers and the support for those services.

One top executive in the internet marketing industry stated to Rip-off Report, that 1-800-LoanMart is the leader in the industry when it comes to customer service. Its hard to keep all customer happy in this industry, but 1-800-LoanMart prides itself on keeping customers educated in the status of their loan, and ways to remedy any issues that may arise. This is the best way to ensure I will maintain a successful enterprise both now and in many years to come.

Another top executive of the company stated to Rip-off Report, that 1800LoanMarts business philosophy is based on the premise that Every customer deserves to be treated with the same respect, even if there is a problem, the customer still deserves to be treated with courtesy and understanding. 1-800-LoanMarts mission statement says it all; "Our goal is to provide our clients with the best product and service in the industry." Some of the other things Rip Off Report learned in the course of its investigation: 1800LoanMarts business was established in 2002 to provide short term financial assistance to those in need. 1-800-LoanMart has offered loans to tens of thousands of clients in need to short term cash, which makes it the leading title loan company in the area.

Rip-off Report has confirmed that 1800-LoanMart takes quality control very seriously. 1-800-LoanMart has put a lot of effort into customer service with a new customer service team on board in an effort to keep problems at a minimum, while remedying any issue as quick as possible. Rip-off Report was pleased to learn that 1800LoanMarts past and current approach to business is focused on its pledge to total commitment towards client satisfaction.

1-800-LoanMart recognizes that complaints posted on Rip-off Report (true or not) are issues that need to be addressed and if handled correctly can be valuable learning opportunities. With the feedback generated by Rip-off Reports Investigation 1-800-LoanMart has made organizational changes allowing her clients a more streamlined approach to problem resolution and a total overall commitment to her client experience.

In summary, after our investigation, which included discussions with 1800LoanMart and many of her past and current customers, Rip-off Report is convinced that 1-800-LoanMart has been and is committed to quality delivery of services resulting in total client satisfaction. Read more about 1800LoanMarts Commitment to Excellence and Total Consumer Satisfaction and why consumers should feel safe, confident and secure when doing business with a member of Rip-off Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. ..yes, a long name for a program that does a lot for both consumers and businesses alike.

Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,..A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.

===================== NOW TO THE ORIGINAL REPORT THAT WAS FILED

===================== 1-800LOANMART They took and sold my car right from under me! Not given a chance to redeem the car or make arrangements! ripoff Encino California

I dealt with 1-800LOANMART back in late 2004. I was in a dire financial situation, so I made the mistake of taking out a title loan of under $3,000 with this company. In exchange for the car title on my Jeep Grand Cherokee, they gave me the cash loan.

After about 2 months of making payments, I was unemployed and quite sick. This is the primary reason I fell behind on my loan payments.I was living in California at the time, but had to return to my family in New York, because I had all of my support here in New York. Upon returning to New York, I was hospitalized for several weeks and disabled for several months.

It is 1-800LOANMART's policy that the car cannot be taken out of the state of California. My family made the decision to have my Jeep shipped out of there and had it shipped to New York. Well, while I was in the hospital and completely unaware, 1-800LOANMART repossessed my car from my NY residence and promptly sold it at an Auction here in New York City somewhere for little over $700. (The book value on the 97' Jeep was approx $4500). I was only notified via letter once I was discharged from the hospital, that the car was already sold and that I owe them the amount of the loan, minus the sale proceeds and any related storage fees.

I know that somebody here in New York purchased the car, as I ran a carfax report on it.

Just to note, 1-800LOANMART hasn't seen a penny from me. I feel the car was stripped right from underneath me, when I was unemployed and disabled. I wasn't in my right frame of mind then, and was hospitalized, so I couldn't even make payments to get the car back. They just took it and sold it, with no forewarning.

I just want my car back. I know that this is probably impossible but it has troubled me for so long. It's been over 2 years without my car and I relied on it so much. I would've paid them the money, if I was given the chance and was physically able.

I don't care about the money, I just want my car back. I was the RIGHTFUL owner of that car and this predatory loan company comes along and takes it all away.

I've contacted the State of California Atty General's Office and the FTC already to see what my recourse (if any) is.

If any of you can comment, or, give advice, I'd appreciate it greatly.

Buyers Beware of this predator!

Melissa Bayside, New York
U.S.A.

This report was posted on Ripoff Report on 04/02/2007 12:45 PM and is a permanent record located here: http://www.ripoffreport.com/r/1-800LOANMART/nationwide/1800LoanMart-REVIEW-1800LoanMart-has-made-a-commitment-to-total-customer-satisfaction-1--241962. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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Updates & Rebuttals

#1 UPDATE Employee

Corporate Advocacy Program

AUTHOR: Company Individual - (U.S.A.)

As a company individual of this business it saddens me to hear a story like this. Simply because situations of this nature can be easily avoided by understanding a couple of things. For people reading this, consider this tips from an employee or company individual in the pink slip loans industry.

First, and most important, communication is key. If a payment is expected to be delayed due to unexpected circumstances, contact the loan company. Most times they have a Corporate Advocacy Program that make the above situation easily avoidable. In the past, a person in the Army Reserves would be called to active duty, thus, putting any and all of that persons current loan payments on hold. Of course, he has to utilize the Corporate Advocacy Program of the lending companies to arrange this. This is done by a simple phone call.

Corporate Advocacy is a 'buzz' term that companies have implemented because of issues that come across with bad customer experiences. Programs have been created to help customers and companies avoid unexpected circumstances simply because of a loophole that proper procedure doesn't cover. This prevents bad experiences for both the customer and the company. Some customers that use title loans often do because they have failed in the past with traditional lending institutions. Other customers utilize our services for emergency purposes. And rarely, bad things happen repetitively like the above story.

A story like this saddens me. This industry employees a lot of people and this story puts jobs at risk & careers that support families. Our contracts protect us from irresponsible borrowers. This is where a person needs to openly communicate with others about their troubles.

In Melissa's case, she obviously fell into a loophole. Instead of acting maliciously after the fact, she would have been better to contact our company and asked about our Corporate Advocacy program or hardship program. We keep records in our database of unforeseen situations. In addition to this, before moving, have all her mail forwarded onto her future address - thus assuring that bills be received, paid, or dealt with in a timely manner. We have situations like this that rarely happen and always recommend letting family members know about outstanding debts and monthly bills that should not go delinquent. Again communication is key.

Lastly, coming from a company individual, people should know that title loans are most beneficial to our customers as short-term loans. We recommend they are best utilized under these conditions. People should have a plan to pay them off as soon as possible and only borrow what they can afford. Many customers come to us because they have over-extended themselves in the past, thus having credit problems. We recommend not making the same mistake twice by borrowing more than what is possible to pay back. Be responsible borrowers.

To conclude, every financial disaster can be avoided. As a worse case scenario, Melissa could have contacted her parents to sell her car to pay off the remainder of a debt. Instead, she made matters worse by saying nothing. The best case scenario would be to roll over the payment to another month and keeping her car. Our loans function on the same basis as a traditional car loan when people purchase from a dealership. If someone falls behind on those payments the same thing happens. Our business model works to help people that need emergency money in a timely manner using their car as equity. And just like traditional car loans people do not use logic before agreeing to the contract terms.

Again as a company individual it saddens me to hear this story. Our company has provided many customers and their families with a second chance to make things right with positive results. Unfortunately this attempt was unsuccessful.
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#2 UPDATE Employee

Terms of your contract we not met.

AUTHOR: 800loanmart - (U.S.A.)

Unfortunately if you are not current on your account, it is subject to repossession and sale, as per the terms of your contract. You, yourself stated that you tried to move the car out of state, which in itself is against the terms of any sales contract in the state of California. In addition, you also stated that the payments were not made, and you had no way to pay them. It is a very difficult situation, but if the $$ loaned out is not able to be paid back, we have no choice but to protect our interest, which can include securing the collateral on the loan.

After the unit was repossessed, a letter would have been sent to your last known address, stating the terms of redemption. If these terms are met, the car would have been released back to you. If they were not met, the car would be sold at a dealer auction. This is a live auction, which delivers the best selling price. Please remember, that you were given more $$ than we received back from selling your car, so nothing is gained by trying to sell your car for less. Loanmart wants to get top $$ for your car to help recoup the $$ that was given to you, and never paid back.

I am sorry for the circumstances you are in, but unfortunately the terms of your contract weren't met, so repossession and prior mentioned sale took place. Please understand that we likely gave you far more $$ than we ever received, so we too, lost out on this situation.
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