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Report: #1321090

Complaint Review: 800Loanmart - Nationwide

  • Submitted:
  • Updated:
  • Reported By: Kbrown1199 — Napa California USA
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  • 800Loanmart Nationwide USA

800Loanmart Stole my vehicle Nationwide

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 A couple of years ago i needed about $1500 to payoff a fine that was holding me back from getting my drivers liscense so i could keep my job. 1800 loanmart loaned me $5,000. I made the mistake of accepting this loan without consulting someone that would advise against it. Anyway the intrest rate on this loan was aprx. %90. The amount that i had to payback was$ 17,000 and some change. I think this was outrageouse and taking advantage of someone that was vunerable. And i think they knew that they would end up with my truck. Maybe not but cmon that is totally ripping me off. Anyways i made payments for two years. I then became unemployed and fell behind on my payments thus resulting in repossesion.

I was able to come up with the couple thousand to get my truckback. Now at that point my total remaining balance was aprx. $6,000 and some change. Meaning i at that point had paid a total of $9,000 on the 5k that i barrowed. Well in order to getmy truck back i had to agree to restructure my loan resulting in my overall balance increasing to 10k so add another 5k to the loan balance bringing a stagarring 20k for a 5k loan. Well i made my payments on time and actually was told by them that i had excellent payment history. Well once again i became unemployed and fell behind again. Now granit i did make the mistake of not communicating other than thru emails because i knew what they were going to say.

And i felt that i come current eventually. At this point i have paid a total of 16k on a 5k loan. You would think that they would be satisfied that they got there 5k back plus a 10k profit (so far) But iguess not because just yesterday they took my truck from a freinds house that i was visiting. First of allhow did they know where i was at. And second of all why did they what i feel stole my truck. My questionis at what point do they say "youknow we have made a small fortune off this guy,lets try another avenue to the rest of the money instead of stealing his truck".now they are telling ne that they want $3200 to getmytruck back. I am beside myself and feel completely violated. I mean never once did i try hiding the vehicle or completely fall off the face of the earth.

I mean i have given tbem$ 16,000 total so far. Now i have maybe a week to come up 3200 or my truck goes up for auction. It is a 2006 nissan titan. In great condition so i know they will get atleast $8k for it and do you think ill see any of that. NO.i paid $27,000 cash for the truck then another $16,000 to loanmart so atotal $43,000 and because of a remainig5k of intrest they have the right to steal my truck and make another 8k bringing there total profit to $19,000 and thats after subtracting the original 5k. Now i dont care whatbuisness it is that is the most profit ive ever heard of off of one person. Cananybody help me or give mesome legal advice. PLEASE. Sincereley kbrown1199

This report was posted on Ripoff Report on 08/06/2016 04:44 PM and is a permanent record located here: https://www.ripoffreport.com/reports/800loanmart/nationwide/800loanmart-stole-my-vehicle-nationwide-1321090. 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. READ: Foreign websites steal our content

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