Report: #1402980

Complaint Review: loan max

  • Submitted: Thu, September 28, 2017
  • Updated: Thu, September 28, 2017
  • Reported By: anne — springfield Ohio USA
  • loan max
    1451 w 1st st
    springfield, Ohio

loan max took my van at 6am thur 9/28/2017 without warning. even though i tried making payment arrangments springfield Ohio

*Consumer Comment: Not Quite

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due to fiancial difficulties i had to get a title loan to pay for bills so my children could eat. i had asked if i could make payments to repay the laon back. they refused . when my income taxes came in my loan was tripled. i asked the girl why they tripled it she said thats how they operate. a 700.00 loan is now over 2400. they refused to work with me. being a single parent is hard enough but to have a comapny like this triple your loan and refuse payments is inhumane. can someone please investigate how they can literally charge all this extra and get by with this

This report was posted on Ripoff Report on 09/28/2017 01:34 PM and is a permanent record located here: 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

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#1 Consumer Comment

Not Quite

AUTHOR: Robert - (USA)

This isn't a case where they refused a "payment". This is a case of you attempting to change the written legal agreement you signed and pay less than what was the minimum payment and them not accepting it.  This is NOT a RipOff on their part.

Title loans have a very high intrest rate, because they deal with borrowers who are a very high risk. So even if you pay on time you will end up paying 2-3 times the loan by the end.  But when you fail to pay they continue to charge interest and fees and it adds up very quickly.

All of this was in the original loan agreement you signed and unfortunatly you failed to meet your obligation so they used their legal right and reposessed your van.

By the way NO company is going to give you a warning that they are coming to reposess your car. As if they did the first thing you would do is try and hide it, and that defeats the entire purpose.

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