• Report: #1136249

Complaint Review: Titlemax

  • Submitted: Fri, April 04, 2014
  • Updated: Thu, May 08, 2014

  • Reported By: Betty Watkins — Riverdale Georgia
Titlemax
Riverdale, Georgia USA

Titlemax Predatory Lending Practices Riverdale Georgia

*General Comment: Ripoff, maybe...but not fraud

*Consumer Comment: You might try reading the loan contract YOU signed with them...

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Titlemax needs to be reported to the attorney generals office for predatory lending practices, I wouldnot recommend anyone to go to them to pawn their car title,I mistakenly signed a contract with them in July 2013 for$2000.00 dollar and been making my payments on time every month,apperently ever dollar I've been giving them are going toward fees and inerest and nothing to principle,because according to their records I still owe $1974, this is after 9 months out of 16 I'm still oweing all the money I borrowed except $26.00 dollars, I've given them $250..dollars a month for 9 months, what can I do about this?


This report was posted on Ripoff Report on 04/04/2014 08:43 AM and is a permanent record located here: http://www.ripoffreport.com/r/Titlemax/Riverdale-Georgia-30296/Titlemax-Predatory-Lending-Practices-Riverdale-Georgia-1136249. 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 General Comment

Ripoff, maybe...but not fraud

AUTHOR: SatinSilkNLace - ()

I have a $2000 loan through Title Max also. The contract does clearly state that the $240 is the MINIMUM payment and is ONLY fees...it does not go toward the principle.  I understand your frustration, TRUST ME, but it wasn't deception.  We knew what we were signing and at the time, it sounds great....until we have to start making those payments...then the regret sets in. 

Fortunately, I will be able to pay off my loan soon and I will tell anyone considering getting a title pawn to NOT do it!!!  I know times get hard and it seems like a good, quick solution, but it quickly becomes a much bigger headache than it's worth.  Not to mention that it just adds to the monthly bills you already have.  It's not worth it.

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#2 Consumer Comment

You might try reading the loan contract YOU signed with them...

AUTHOR: Ken - ()

It appears you STILL haven't read it.  If what they are charging does NOT agree with the WRITTEN contract, report them to your states commission on lenders.  If you can't find your contract because you lost it or threw it away, see if you can get a copy. 

Unless you're really that stupid, you would NOT borrow from this type of lender, oh, wait...you're a deadbeat...right?

If they're following the terms of your contract, they're NOT ripping YOU off.

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