I received a $3000.00 loan with Titlemax in November 2006. My first payment (mini $300.00) was due in December 2006. I have never missed a payment until this past month "March 26, 2008".
Titlemax repossed my car yesterday, April 22, 2008 for being one payment behind. The next payment is not due until April 26, 2008. I was told that I have to pay the full amount before I can get my car back.
I have paid the minimum interest $300.00 on the loan for the last 16 months, totaling $4800.00 (not including late fees $10.00 a day) and I STILL owe Titlemax $3000.00.
I am a flight attendant and I travel all over the world. Sometimes it is very difficult to return the 3 or 4 calls a day, everyday from Titlemax, especially if I am out of the countrty. You can not make payments online, over the phone or in my case mailing is difficult to do if I am out of the country.
I have asked the employees, district managers several times for a settlement offer on my loan since I have paid so much in just interest alone and only a few dollars went towards the principal. Titlemax refused to work with me stating that I still have to pay the payoff of $3000.00.
Now I am out on disability due to a work injury. I am unable to return to work until next year (maybe). So my income is limited and coming up with the payoff is very very difficult to do so. I am not sure of where I can go or what I can do about Titlemax "Ripping Me Off". But I need some HELP! Help on talking to the Legislators, Attorney General or State Consumer Affairs. If any one knows where I can go or what I can do, please email me. Thanks!