Instaloan TitleMax I took out $500 title loan from the compan y in May of 2013. They manage to pile on enough fees and interest to keep the victim trapped into the loan. A year later I have not been able to get to paying off the principal. I have paid $960. in intersts and fees and now as of August 2014 they add $25.00 investigative fee to each month's payment. I cannot get loff the wheel. ! Jacksonville Nationwide

So what you are saying is that a usurious amount of interest and fees that make no sense are ok if a person has fallen on hard times? That is absurd. Unfortunately I got a similar loan with the same company.  They say there are no credit checks to lure you in and then check your credit anyway and deny you installment loans so that they can jack up the rate and charge meaningless fees. What the heck is a credit investigation fee for anyway and why is it monthly? Honestly, I plan to pay this off as quickly as possible but I thought it was illegal to charge interest fees like these!! I think our government officials need to know that these companies are out here and they are hurting the people who vote for them. And a lawyer would be wise to consider a clasa action lawsuit against these companies.  They are predatory and should be regulated with a fine tooth comb!

 The problem is that YOU have been paying ONLY on the interest of the loan. This means the principle is STILL THERE!!!! You MUST pay off the principle!!! I would suggest that when you pay your loan and you are paying the MINIMUM that you add an extra $20 PER payment with the instructions that the extra money is to be used to pay of the principle of the loan. You have gone with what is known as a "Deadbeat Lender". This means that THEY know your credit is just SO BAD that no reputable financial institution will EVER lend to you. They are also known as a "Sub-prime Lender". Basically it means that your credit sucks SO MUCH that you couldn't get someone to loan you a used tissue. Because of THIS, YOU must pay a MUCH higher premium. Its around 150%.