• Report: #808072

Complaint Review: Title Max

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  • Submitted: Mon, December 12, 2011
  • Updated: Mon, December 12, 2011

  • Reported By: Robert — Kennesaw Georgia United States of America
Title Max
3171 woods lane Marietta, Georgia United States of America

Title Max 125 % interest Rate, It is not 25% fist 3 months and then 14 % after that. A Lie!! Marietta, Georgia

*Consumer Comment: Title Loans

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I borrowed 2000 for my Vehicle from Title Max. I should have
just gone to the Bank but it was short notice from the Funeral home and I had
to have the money to them within a few hours. So I went to Titlemax for the
short loan. They give you an amortization of paying of your loan in 12 months
or 16 months. It is really not part of your loan paper work you sign. It is a
BS! Looks sort of like a great deal and you only pay 25% the first 3 months and
by Law 14 % after that. This is not true at all. It is month to month basis and
it stays at 125% interest rate. The trick these people use is you have two ways
to make a payment! First way is pay the minimum say at $250.00 dollars. The
second way is paying $300 that pays interest and principle. So when you go in
to make a payment they tell you it will be $250. Dollars and you make the
payment, not thinking about paying on your Principle.  That is you first mistake because your $2000. Dollar
loan just jumped to $2150.00 dollars payoff. Title max will not ever say anything
to you and they are very much annoyed when you want to pay more then what they
want you to pay! Dont fall into this TRAP! If you have a loan go in each week
and pay anything on the loan to keep the original loan from jumping to a 125%
interest rate to make you owe even more! If you can pay the loan off early DO
IT and never GO BACK! These people are Legal Bank Robbers! Until Georgia
Legislation gets off their Sorry a*s and Pass a LAW, you are screwed! I paid my
Loan off. This is how it looked. I borrowed $2000. Dollars. Next month paid the
minimum $225. Dollars, month 2 went in to make Payment and paid $225.00 dollars
thinking it was also paying the principle when I asked her what payment was
each time. I looked at paperwork and everything looked great, however it was
not. I noticed next balance was at $2289.00 dollars and asked about it. They DO
NOT LIKE YOU ASKING QUESTIONS ABOUT THE BALANCE. She said you need to pay on Principle
too! I just acting nice and said Oh, I thought you were doing that when I asked
how much was my payment. THESES PEOPLE ARE NOT WORKING OR HELPING YOU AT YOUR
BEST Interest PEOPLE. THEY ARE TRYING IN KEEPING YOU IN A DEEP HOLE AND WILL
LET YOU DROWN IN IT! So on my 3rd month I could have paid loan off
but wanted to pay towards the principal and paid $350. Dollars to see what the balance
would be. My balance was $2118.00. I could not figure out how they came up with
this balance but knew something is not right with it. So 4th month
went in and paid the balance off. I work for the Government or Attorney Generals
Office and know every Representative for Georgia. So I am now going to work on getting
a new Law passed to stop this Legal bank Robbery of Georgia People. Thank You
Title Max for when I needed a loan for a Funeral but I also think your establishment
is nothing more than a bunch of Thieves preying on people who are desperate,
looking for ways to feed a family or children in need of funds to get by. I do
hope my paper work will help pass a Law and it was what I needed as proof to
get this started. ThanksJ
The Investigator.

Oh to the smart people who want to give their opinion in
saying you should have read the paper work, Please unless you have seen this
paper work or have experienced it with these people, just keep it to yourself
and FO because nobody really cares what you have to say and you are most likely
they very same people who work for TtitleMax! Merry Christmas and FO.

This report was posted on Ripoff Report on 12/12/2011 07:52 AM and is a permanent record located here: http://www.ripoffreport.com/r/Title-Max/Marietta-Georgia-30060/Title-Max-125-interest-Rate-It-is-not-25-fist-3-months-and-then-14-after-that-A-Li-808072. 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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#1 Consumer Comment

Title Loans

AUTHOR: bk52480 - ()

Aren't these types of loans akin to loan sharking? If so I though loan sharking was illegal.

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