• Report: #401018
Complaint Review:

1800LOANMART

  • Submitted: Sat, December 13, 2008
  • Updated: Wed, February 15, 2017

  • Reported By:Hidden VAlley Lake California
1800LOANMART
15821 Ventura Blvd. Suite 185 Encino, California United States of America

1800LOANMART This Company takes advantage to people that are going thru hard times this should be illegal! Encino California

*UPDATE Employee: All Contract Terms Were Explained in the Contract

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

My husband had not worked in 5 years due to a back injury, we were about to loose everything, we got this loan and it was gone in 5 minutes paying a house payment. I have been paying on this loan for over a year and the laon ammount is higher then the amt I borrowed. I think it should be ILLEGAL for these rich peoplt to take advantage of people that are struggling and going thru hard time, there needs to be a set rate for interest to be charged by the Government.

I do not even drive this vehicle anymore but I have to caryy full coverage with a $500 deductible with made my insurance go up 100 dollars...I cannot beleive that the Government lets companies like this rip off people, that are having major financial problems to begin with and then it takes forever and a day to pay this loan off, yes I took the loan , I was desperate, I was loosing my home, BUT the interest rate of 99% should be ILLEGAL....they are taking advantage of people in need.

I would nlt even mind paying 38% interest and they would still make bank BUT 99% interest is totally WRONG and someone needs to step up and start a class action lawsuit to sue these people that are living in luxery because of all of us that were desperate and needed the money , signed the contract and now we are paying with our lives......we need the Attorney General to take over this company and apply interest rates that are reasonable, they can be high just NOT DOUBLE!!!

Shelly c Hidden VAlley Lake, California
U.S.A.


This report was posted on Ripoff Report on 12/13/2008 12:36 PM and is a permanent record located here: http://www.ripoffreport.com/reports/1800loanmart/encino-california-91436/attorney-generals1800loanmart1800loanmart-this-company-take-c489ahtm-401018. 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

Click Here to read other Ripoff Reports on 1800LOANMART

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
0Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

All Contract Terms Were Explained in the Contract

AUTHOR: 800loanmart - (U.S.A.)

Please understand that these loans are for people who need money fast. You stated that your house payment was behind, and that the $$ you received from your loan brought your mortgage current.

Loanmart gave you the $$ in good faith, and spelled out the terms of the loan very clearly in the contract. CA does not have a limit for loans, and the terms of this loan are far lower than most other title loan companies in the state.

The insurance is a requirement of the contract, since you owe $$ on the unit. At the time it is paid off, you no longer would need full coverage insurance.

It is unfortunate that you did not fully understand the terms of the contract when you signed it, and when you got the $$. There is never anything meant to be hidden, and your interest rate is disclosed several times on your contract.

It sounds like the loan with Loanmart helped you out, and that Loanmart followed the laws in the state of CA. I am sorry that you are angry with the terms of the contract that you signed. We gain nothing by having upset customers, and hope that you can understand that.
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
X