ED Magedson – Founder
1-800LOANMART15821 Ventura Blvd. Suite 185 Nationwide United States of America
1-800LOANMART They took and sold my car right from under me! Not given a chance to redeem the car or make arrangements! ripoff Encino California
I dealt with 1-800LOANMART back in late 2004. I was in a dire financial situation, so I made the mistake of taking out a title loan of under $3,000 with this company. In exchange for the car title on my Jeep Grand Cherokee, they gave me the cash loan.
After about 2 months of making payments, I was unemployed and quite sick. This is the primary reason I fell behind on my loan payments.I was living in California at the time, but had to return to my family in New York, because I had all of my support here in New York. Upon returning to New York, I was hospitalized for several weeks and disabled for several months.
It is 1-800LOANMART's policy that the car cannot be taken out of the state of California. My family made the decision to have my Jeep shipped out of there and had it shipped to New York. Well, while I was in the hospital and completely unaware, 1-800LOANMART repossessed my car from my NY residence and promptly sold it at an Auction here in New York City somewhere for little over $700. (The book value on the 97' Jeep was approx $4500). I was only notified via letter once I was discharged from the hospital, that the car was already sold and that I owe them the amount of the loan, minus the sale proceeds and any related storage fees.
I know that somebody here in New York purchased the car, as I ran a carfax report on it.
Just to note, 1-800LOANMART hasn't seen a penny from me. I feel the car was stripped right from underneath me, when I was unemployed and disabled. I wasn't in my right frame of mind then, and was hospitalized, so I couldn't even make payments to get the car back. They just took it and sold it, with no forewarning.
I just want my car back. I know that this is probably impossible but it has troubled me for so long. It's been over 2 years without my car and I relied on it so much. I would've paid them the money, if I was given the chance and was physically able.
I don't care about the money, I just want my car back. I was the RIGHTFUL owner of that car and this predatory loan company comes along and takes it all away.
I've contacted the State of California Atty General's Office and the FTC already to see what my recourse (if any) is.
If any of you can comment, or, give advice, I'd appreciate it greatly.
Buyers Beware of this predator!
Melissa Bayside, New York
This report was posted on Ripoff Report on 04/02/2007 12:45 PM and is a permanent record located here: http://www.ripoffreport.com/reports/1-800loanmart/nationwide/1-800loanmart-they-took-and-sold-my-car-right-from-under-me-not-given-a-chance-to-redeem-241962. 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.
Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
If you would like to see more Rip-off Reports on this company/individual, search here:Search Tips
In order to assure the best results in your search:
Advertisers above have met our
strict standards for business conduct.