ED Magedson – Founder
1-800LOANMART15821VENTURA BLVD. SUITE 185 Encino, California United States of America
1-800LOANMART 1800LOANMART are crooks they charged me $7000+ for a $2300 loan but didn't tell me until the signing of the contract. And when I was late with 1pymt. they tried to take the car the next day and have 1/800LOANMAFIA THEY HAVE NO INTENTIONS ON YOU PAYING OFF THE LOAN, THEY JUST WANT YOUR CAR TO SALE IMMEDIATELY AFTER 1 LATE PAYMENT Encino, California
I took out a loan from 10800LOANMART in December of 09. I was in dire need and took out the loan on my Mercedes Benz. I was not told the interest rate or the pay back amount until I was signing the contract. They lowered the amount they were loaning and raised the monthly amount to be paid and then dropped a bomb on me the amount to be paid back.
When I was signing they told me that I would owe $7500.00 on a $2300.00 loan that was lowered to $2100.00 before I actually got the money and then the check cashing company took there portion I ended up with less than $2000 but was offered $2500.00.
I was paying on time until March I was 1day late and they sent a tow truck the next day to my previous employment to repossess my car. After reading another rip off report I fear that if they get there hands on my car I will never get it back.
They have since been harrassessing my friends and family and my previous employment, with continuous calls rude and unprofessional gestures attempting to break in to the previous poe to suppossedly get my car. (WOW)
They are not professional and I fear that they are similar to BLUE HIPPO(A BIG FAT SCAM)and have a schme or angle there working because the amount there attaching on the loans are outrageous and people who borrow money are borrowing because they need it and to get trapped into a contract where you are buying your car all over for a small loan is definetly a RIP OFF/SCAM.
This report was posted on Ripoff Report on 04/20/2010 03:21 PM and is a permanent record located here: http://www.ripoffreport.com/reports/1-800loanmart/encino-california-91436/1-800loanmart-1800loanmart-are-crooks-they-charged-me-7000-for-a-2300-loan-but-didnt-t-594992. 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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