ED Magedson – Founder
money train3040west 3500south#D west Valley, Utah USA
money train told me and printed receipts showing principle remaining. never explained or showed interest until I went to pay it off. they also said it was fifty dollars a month but because I took the 200 extra dollars on my title loan transfer it didn't apply. west Valley Utah
I had a title loan transfer over to money train. They said they had best rates in the business. When I asked for the fifty dollar rate that was advertisedon the radio they said it didnt apply cause I took the 200 dollars they offered as a title loan transfer. Each time I paid I got a receipt showing my payment and principal remaining. When I asked how much went towards principal they said a little more each time. After paying 2000 dollars and noticing it never went down they said well there is also the interest which was never explained or reflected in any receipt. I was told many different things. I made a one time payment with d3bit card they went and took a payment that was not authorized and drained my account. They are very rude and it has been very hard for us to get rid of this title loan. I never would have taken a 980 dollar loan knowing the truth behind it. Making 226 dollar a month payments while interest still accrues. They are very deceptive. No wonder they call it money train cause it just goes on forever. Almost impossible for people that are in these situations.
This report was posted on Ripoff Report on 08/05/2013 01:14 PM and is a permanent record located here: http://www.ripoffreport.com/r/money-train/west-Valley-Utah-84119/money-train-told-me-and-printed-receipts-showing-principle-remaining-never-explained-or-1073213. 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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