TitleMax of Griffin, GA Ripoff by this company Griffin, Georgia

After paying $6600 on a $1200 loan I figured I was done with the loan and didn't pay anything else in May or June and today they sent a Recovery company out and took the van.  I paid $6600 on a $1200 loan.  That is extremely excessive and criminal if you ask me.  How can this be legal to charge a person this amount on what was suppose to be a 24 month contract?  I feel like I have been screwed without being kissed and I would be willing to join a Class Action Suit against Titlemax, Instaloan, and Title Bucks to teach them that their are limits on how you screw consumers.

We all get into situations where we need cash fast. Most of us don't have money just laying around so we use our homes and cars to getthe cash we need in a emergencey. First her are some things to concider. Why do you need the money. Then how do you plan to pay it back. 

I found this site looking for a Place to get the cash I need to reserve something. I already had a plan to pay for but they want the money up front. So I will use a title pawn to get the cash and pay them back instead. Remember they are loaning you money and you have tried to use a bank or other way to get it that won't cost you so much. The faster you pay it back the less you pay. Have a plan in mind with a set time to pay it back. Interest is calculated on how long you need to pay it back.

Didn't they offer you a payback guide that breaks down if you only pay the minimium then the balance sits still, then you chose a time frame between 1& 24 months to pay that amount for that amount of time to be paid in full, these pawns are meant to be short term fixes, you do pay back close to double if you pay it for 24mo!! I believe you also had to sign that guide at your closing agree that you understood the min doesn't move the balance & the payback guide amount gets you paid off in that amount of time? I have had a few TitleMax loans & paid them off in no more than 3mo. It was a simple process for me because I expected to pay more, but knew it was my only option at the time & also knew to pay it off QUICK!! But think about where you & your family might be right now if they were not there to help you, I would have been in a mess for sure! I know it sucks that we have to do these type things due to our own situations right now, & you seem to be a higher class who I'm sure hated to be in the office in the first place & just wanted to hurry up to get back out.....put any extra you can on it over the min amount, it does add up over time. TitleMax does have the lowest rates around & they accommodate there customers with time if they need it, if they took it away I would have no personal control over my credit decisions like I have now. I hope you change your mind about this, as you have to remember that you went there for the business, as I did... It can't be changed now, just pay over the amount & get out. I hope this helps?!

Cooper

Steven,

I can see why Florida don't allow it as they truly are a ripoff. TitleMax and others like them are about the interest. The loans they make are not worth the interest because if they were you could pay it back in a short time with payments made. In what I am saying that a portion of their payment would apply to the loan balance and not all go to interest.

Title Loan companies cannot physically operate in Florida so people in Florida have to go across the border to Georgia if they want to take out a title loan. You want to know why??? Because the state kicked them out because of all the complaints.

Title loans and payday loans are high risk loans made to people who are not credit worthy by other companies standards so they can charge you 98 or 100 percent interest on a loan legally so you are SOL in that department.

As someone recommended before you should read the loan paperwork before you sign and see what the interest rate is and maybe even have them print you up something to show you how much of the loan payment goes toward the principal and the interest. The quickest way to get out from under one of these loans is to either pay it back in full plus interest or not play the "minimum due" game.

Being that I have more to do with my time, I will no longer respond to negative comments from the fools that choose to use these forums to attack others.

To say that he put himself through college makes me believe that he is bragging to impress others with what he claims to have accomplished. Holding 2 Associates Degrees one in Criminal Justice and a BA in Criminal Justice however, that don't hold water unless you treat people as you want to be treated. I am now working on my Masters so I am not a stupid person.

At the time I did this loan my wife was laid off and even with both my retirement and current paycheck it was hard for a couple months so that is what I did to keep my family in our home. I don't have to justify myself to you but in fact wanted to warn others that this company rips people off with extreme interest rates and will lie through their teeth to a client to get your business. When I get my tax refund back this coming January I will pay off this loan and no so again because I know what crooks these places are but took the word of their staff that they would work with me. Apparently they are not regulated enough to protect the consumer from being taken advantage of. From what others have said you sir attack others just for fun. Who cares what you think. I don't. In the end you will get yours as Karma will come back to you.

They are indeed loan sharks.  That's why you have to be REALLY careful when you deal with them.

You said this:  I was told by these liars at Title Max that the interest rate was low and the payments I make will lower the balance as I make them.

They may have told you the interest is low but that statement alone means nothing because it's a relative term.  It may be lower than other title loan companies or it might be just a lie.  Nevertheless,  you need to know EXACTLY what the interest rate is.  It would also have been a good idea to download a free loan amortization program that will tell you exactly how much goes to the principle and how much to the interest every payment.

Incidentally, when you post any report on a public forum, you are in affect asking for comments.  You probably will get some you don't like or don't agree with, that's the nature of the beast.

Just take any useful information you can and ignore anything else.  If you come back with some kind of silly rant it just makes you look illiterate and hot headed which achieves nothing.

Good luck.

He refers to Everybody on here as Cretins! It really gets tiresome I might add. You'd think that someone with a college degree could think of other words to use, he's wearing that one out.

The word is CRETIN, which is NOT a name, but is, however a perfect description of YOU, you cretin.  The very fact that you did not know this, and even misspelled the word shows that you are, indeed, a cretin. Open a dictionary !!   LEARN TO READ !!  That's why you are in the shape in which you find yourself. Had you taken the time to actually read the agreement instead of blindly signing, you would know this fact.  And, YES, the title pawn industry IS regulated by the government.  How is it that you don't know this ???  Well, everyone else knows that, and also knows YOUR level of intelligence.

And, no, I've never had to obtain a title loan because I studied hard in school ( I paid for my college education 100%, due to the fact that there were no such things as grants and student loans back then ), learned the English language and worked hard all of my life to get where I am now. Unlike YOU, who will be blindly signing your life away because you DO NOT take the time to read and THINK before making decisions  !!!!   Cretin.

I didn't ask for your two cents but since you added it without merit, let me set you straight. I was told by these liars at Title Max that the interest rate was low and the payments I make will lower the balance as I make them. I don't need pinheads like yourself insulting me for doing for my family what I had to do in this economy. I don't have my mommy paying my bills and such as it is apparent that you do. From your immature comment I am willing to bet mommy still wipes your nose for you. Some of us have to work for what we get because we are not spoiled little brats who have it handed to us. Try working for a living and stop leaning on mommy and daddy. And another thing, GET A LIFE. If you can't offer constructive comments keep off the computer.

And I wish morons such as YOU would learn to READ before they SIGN !!!   Cretin.