• Report: #1145664

Complaint Review: TITLEMAX

  • Submitted: Sat, May 10, 2014
  • Updated: Mon, May 12, 2014

  • Reported By: sparker — sulphur springs Texas
TITLEMAX
1065 GILMER SULPHUR SPRINGS, Texas USA

TITLEMAX LOAN RIP OFF!! DO NOT BORROW FROM THESE PEOPLE SULPHUR SPRINGS Texas

*Consumer Comment: Repeat Question

*Author of original report: Yes

*Consumer Comment: Here's Why

*Consumer Comment: Question

*Consumer Comment: The ACTUAL reason this type of company operate is to loan to deadbeats that can't borrow ANYWHERE else...

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I am with the others that I have read, these poeple are loan sharks.  Borrowed 5000 from them and I am still paying on it, will pay on it for the remainder of me owning my car, if I want to keep it.   Payment of $496.87 per month, and NONE of that goes to the principal.  I was explained that this was a 18 month loan and I would have it paid off in 18 months.  I will not have it paid off unless I pay way more then my payment.  I am a signle mother, I CANNOT pay this.  Absolutely ridiculous that these kinds of loan companies are allowed to operate.


This report was posted on Ripoff Report on 05/10/2014 05:44 PM and is a permanent record located here: http://www.ripoffreport.com/r/TITLEMAX/SULPHUR-SPRINGS-Texas-75482/TITLEMAX-LOAN-RIP-OFF-DO-NOT-BORROW-FROM-THESE-PEOPLE-SULPHUR-SPRINGS-Texas-1145664. 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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REBUTTALS & REPLIES:
1Author 4Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Repeat Question

AUTHOR: coast - ()

What's the APR?

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#2 Author of original report

Yes

AUTHOR: sparker - ()

Yes my loan amount is the same as the day I borrowed it. For the first response, you have NO IDEA the road me and my children have walked. I have changed my life and path I was on!!! Before you judge, know the WHOLE situation!! 

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#3 Consumer Comment

Here's Why

AUTHOR: Jim - ()

Its called "AMORTIZATION".  The earlier you are into the monthly repayment schedule, the more interest is paid from each payment.  If the contract says you will pay it off in 18 months and you make every payment on time, then you'll pay it off in 18 months!  There is nothing illegal, unethical or immoral about this...it happens everyday.  However, the time to object to the interest rate and other terms is BEFORE you agree to those terms.  Bottom line here is since you are an unwed mother with no money and no/bad credit, perhaps now's the time to evaluate your life and change direction in a hurry.

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#4 Consumer Comment

Question

AUTHOR: coast - ()

What's the APR?

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#5 Consumer Comment

The ACTUAL reason this type of company operate is to loan to deadbeats that can't borrow ANYWHERE else...

AUTHOR: Ken - ()

If they are abiding by the terms of the WRITTEN agreement YOU signed, then you are stuck with the consequences.

Is your loan balance still exactly the same as the day you borrowed the money?

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