In desperate need of $2,500 for attorney fees, I went to Loan Max for help. They informed me that if I did not have the full amount to pay off the loan at the end of 30 days, I could refinance the loan and make payments. After a month and a few weeks, I went in with $900 to make a payment thinking it would reduce the loan amount. They had originally taxed $853 in fees making the balance roughly $3,353. Thinking that once I made the $900 payment it would reduce the loan balance to $2,453.00, the rep said ok we just need to redo some paperwork that you will need to sign and you won't owe anything again for another 30 days.
I gave her my money and she printed off the forms, handed them to me to review and I about went through the roof!!! By "refinancing" the loan, they taxed another $750 application/refinance fee onto the balance putting me right back at $3,200!!!! It was as if I just threw $900 to the wind! I told the rep that if I would've known it was going to work out like this, I would NEVER have done it.
I will NEVER be able to pay off this loan and they will be coming for my car. There is no reasoning with them, they are rude when they call. If you go to them for help and they KNOW you only bring in $2,000 a month income, how in the world do they expect you to be able to pay the full amount in 30 days without them working out a payment plan with you????? They should be banned from doing this business with people. They swear up and down they don't want to take your car or go through litigation, but they are clearly HIGHWAY ROBBERY!!!