• Report: #985571

Complaint Review: Loan Max

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Fri, December 21, 2012
  • Updated: Fri, December 21, 2012

  • Reported By: Laura — Cincinnati Ohio United States of America
Loan Max
Internet United States of America

Loan Max Threatened to repo car after 3 weeks Internet

*Consumer Comment: What's the ripoff?

*Consumer Comment: Sorry for your job loss, but......

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

I took out a loan from this Company.  I then lost my job.  I was able to make the first month's interest which was exhorbitant.  The second month I struggled to make this same interest payment because of Christmas.  They told me that since I was 2-1/2 weeks behind, they were going to repo my car.  This is the only auto I have and need this to work.

I asked for 1 more week, the week after Christmas telling them that I could then pay the loan offf in full, not just the interest payment.  They refused and stated they were going to repo the car.  Talk about harsh.  Their websites states that they are more lenient than banks when it comes to repossessing the collateral.  That is a lie!!!!  Don't be fooled by any of the Loan Max Companies.  They are low life entities.

This report was posted on Ripoff Report on 12/21/2012 02:21 PM and is a permanent record located here: http://www.ripoffreport.com/r/Loan-Max/internet/Loan-Max-Threatened-to-repo-car-after-3-weeks-Internet-985571. 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.

Click Here to read other Ripoff Reports on Loan Max

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

What's the ripoff?

AUTHOR: Flynrider - (USA)

   These "last chance" lenders are what you have when you've burned all of your other credit bridges.   You know this and they know this.    They are going to trust you with their money about as far as they can throw you.   That's why they make you put up the title to your car.    You and they both know that if you continue the kind of repayment behavior that got you into this mess, they will take your car.

    Naturally, you did not live up to your end of the agreement and now you want to accuse them of ripping you off.  Simply put, they didn't.   You did this to yourself.   You knew the ridiculous interest rate going in.  You knew the payments.  You knew that they would take your car if you didn't pay as scheduled.  

   When you have screwed up your credit so bad that your only choice is to deal with these bottom feeders, you need to keep in mind that the stakes (and the interest) are much higher.    They will not lend you money unless they have something of higher value to back it up (in other words, your credit is Zero).   They will also not accept nebulous promises to pay in the future.  They've heard that all before and since your true credit rating with them is zero, they have no reason to believe you.

  Your report seems to single out this one company, but the same would happen and any of the other bottom feeders.     The real problem is that you keep borrowing money that you cannot afford to pay back.   Until you get that fixed, you'll keep getting hosed by these bottom feeding lenders, whatever their name.

Respond to this report!
What's this?

#2 Consumer Comment

Sorry for your job loss, but......

AUTHOR: Ken - (USA)

"The second month I struggled to make this same interest payment because of Christmas."

What was more important, Christmas or making your agreed to payment?  Guess we already know that answer.

"I asked for 1 more week, the week after Christmas telling them that I could then pay the loan offf in full, not just the interest payment."

Where was this payment money coming from?

All they were interested in was the fact you were unable, early in the loan, to meet your obligations.

Yes, it was a mistake to get money from them.  Remarkably poor judgement. You seemed surprised at the interest amount.

Guess you didn't read the agreement.

'This is the only auto I have and need this to work..'

That problem solved itself when you lost your job.
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.



Ripoff Report Legal Directory