• Report: #547305

Complaint Review: 800loan mart

  • Submitted: Wed, December 30, 2009
  • Updated: Fri, January 01, 2010

  • Reported By: John — Encino California United States of America
800loan mart
Encino CA Encino, California United States of America

800loan mart 800 Loan Mart is ripping me off Encino, California

*UPDATE Employee: Our policies

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My wife wanted to get a loan from a pawn title company. She needed to pay some bills off since she had been laid off. I offered to co-sign the loan for her. Well I forgot to pay the bill in Nov. & was intending to pay the bill for Nov & Dec at the same time, I didn't get paid untill the 24th at midnight with a direct deposit & didn't want to overdraw my checking account. The car was reposessed by 800loan mart on the 23rd at 1130pm.

It's partly my fault for paying late. But in this economy, being cut hours at work, plus having to take a pay cut per hour, I was kinda stretched.

I went on line to their website & paid them their money + an extra month payment & days later was billed on their website another $400 which I also paid. Now Monday after christmas they have my money but still won't release my car. They said that they are sending my money back electronically & I will have to send them a money gram.???? What in the hell is going on. Every day my car sits in the impound yard is going to cost me money. If they released the car tomorrow I don't have the $400 or $500 to get it out. I really learned my lesson.

I am checking my bank account every hour but no credit return of the $1300 that they have of my money. It is just a game with them. They don't answer the phone, their message says to leave a message, I did twice, & was finally called back by a rude girl 6 days later. She talked to me like I was the lowest scum of the earth. I apologize, I did talk to someone Monday but only after calling for over 1 hour. I am serious, one hour calling & calling.

I fee that at this point they can have the 9 year old car but I don't want my credit ruined. I am so sorry I got a loan from them & I am sorry that I paid late. But, at this point they have all the payments + a $400 repo fee & still won't release my car.

I plan to take them to small claims for the extra fees & I advise anyone not  to use 800 loan mart, these people are like mafia.

The worst part is being talked to like I am a naughty stepchild, or like I am a fool. Then they acused me of trying to get ugly with them on the phone. Thank God I never used any curse words with them. I thought the way she talked to me made me want to vomit. These people have made me physically ill.

This report was posted on Ripoff Report on 12/30/2009 03:18 AM and is a permanent record located here: http://www.ripoffreport.com/r/800loan-mart/Encino-California-/800loan-mart-800-Loan-Mart-is-ripping-me-off-Encino-California-547305. 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.

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Updates & Rebuttals

#1 UPDATE Employee

Our policies

AUTHOR: Mr. Green - (United States of America)

I am sorry to hear of your dissatisfaction. I can not tell your specific account by your name, but I can speak to our policies:

1. We take loan repayment seriously. If payments are over a month past due, as you indicated in your complaint, we may enforce the terms of the contract, including repossession. This is more likely when we are unable to contact our customer.

2. A repossession can be an emotionally charged situation. Customers can sometimes feel frustrated or panicked. Our policy is to stick with the facts of the matter, giving our customers the information and the requirements to resolve things. We strive to make sure our customers understand what they need to do and not take it personally.

3. One of the things we always tell our customers is that we cannot accept phone or website payments to reinstate a repossession. There are many reasons for this, not the least of which are the payment may be tentatively approved and then later declined by the bank, or the charges may not be authorized (i.e., using someone elses check or credit/debit card), or the charges may be authorized but later disputed. Once we have a repossession in hand, we need to be 100% sure that all payments are up-to-date and fees paid before releasing the vehicle. Certified funds, such as Moneygram, ensure this. We believe our position is reasonable.

4. If we get a payment we cannot accept, as described, our policy is to return it on the same business day we discover the payment. We close for Christmas and we close early on Christmas Eve. We are people too and want to spend time with our families. If you made such payments as you described, we would not have discovered this until the Monday after Christmas. In addition, while we credit a card or account on the day we discover a mispayment, we have no control over how long it takes the customers bank to show that credit.

Again, Im sorry for whatever circumstances led up to your repossession and unhappiness. We take pride in giving bridge financing to people who need it most. We encourage our customers to pay early and often to save money, and most of our customers are quite satisfied with our product.

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