Complaints
This profile includes complaints for Community Choice Financial, Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 434 total complaints in the last 3 years.
- 146 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:05/20/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have a title loan out with this location and they violated my privacy rights in two separate incidents.
Two separate parties called and spoke with ****** and ****** disclosed the balance on my account to my daughter and my daughters father. Neither of them are listed on my account and should not have been provided any information regarding my account.
****** also disclosed to them that my account is currently in a charged off state.
Again, my daughter nor her father are listed on my account and they do not have my SSN to have permitted ****** to disclose credit and financial information.
Is Title *** aware that they can not disclose a customers information without that customers consent?
Business Response
Date: 05/21/2024
May 21, 2024
Better Business Bureau
*************************************
RE: BBB Complaint ID ********
BBB Dispute Resolution Team:
Thank you for the opportunity to respond to the complaint filed by *************************** (Complainant). TitleMax of South *************** DBA TitleMax, a member of Community Choice Financial family of brands, appreciates the role of the Better Business Bureau in resolving consumer concerns. We are happy to provide this response.
To summarize, the Complainant states that their privacy was violated on two separate incidents in which their balance and status of the loan was disclosed to two people who are not authorized on their account.
A review of TitleMax records reveals that on December 15, 2023, the Complainant obtained a Title Loan in the principal amount financed of $6,015.00 at a storefront in ********, **. The Complainant granted a security interest in a *************************************** B22439. The loan was contracted to be repaid in forty-seven monthly payments of $850.77 beginning January 19, 2024,and a final payment of $850.27 on December 19, 2027.
It is important to note that at the time of the loan origination and each refinance, the Complainant signed a Supervised Loan Agreement, Promissory Note and Security Agreement that clearly disclosed the annual percentage rate,finance charge, amount financed, total of payments and the repayment schedule in accordance with the Federal Truth-in-Lending Act and **************** signing the loan agreements, the Complainant acknowledged their understanding of the terms and conditions of the loans.
Payment history indicates there have been no payments made on the loan. When the payment was not made on January 19, 2024, the account entered a past due status. A Right to Cure notice was mailed to the Complainant on January 30,2024. The Complainants account currently has a balance of $9,554.88.
In response to the Complainants claims of their privacy being violated, an investigation revealed no information was shared regarding the Complainants account.
*********************** strives for excellent customer service and remains willing to work with the Complainant to assist them in paying back their loan. We encourage the Complainant to contact TitleMax at ************* to arrange a mutually acceptable repayment arrangement for this account.
We hope that we have fully addressed the complaint. Should the Complainant or Better Business Bureau require further explanation, we may be reached at ****************************.
Sincerely,
BSG Consumer Complaints
PO Box 550
*******************Customer Answer
Date: 05/30/2024
When I started this complaint I stated an incorrect date and name of the empoyee. I called on 04/26/ 2024 that Friday. The employee was Santaje that I spoke with. She was the employee that stated to one person that came inside of Title **** how much the payments were and that it is being charged off due to no payments were made. The second person that called was able to get information about my account also. On 04/30/2024, I went to the office and spoke with ******. I asked her why she discussed my account with two people that wasn't on my account. That's when she stated to me that she didn't work on Friday. She stated to me that the employee was Santaje that I spoke with. I will get the two people to provide a notarized.
*****************
Business Response
Date: 06/07/2024
June 7, 2024
Better Business Bureau
**************************************
RE: BBB Complaint ID ********
BBB Dispute Resolution Team:
Thank you for the opportunity to respond to the rebuttal filed by *************************** (Complainant). TitleMax, a member of Community Choice Financial family of brands, appreciates the role of the Better Business Bureau in resolving consumer concerns. We are happy to provide this response.
In response to the Complainants claims of their privacy being violated, as stated in our previous investigation revealed no information was shared regarding the Complainants account.
We hope that we have fully addressed the complaint.Should the Complainant or Better Business Bureau require further explanation, we may be reached at ****************************.
Sincerely,
BSG Consumer Complaints
PO Box 550
*******************Customer Answer
Date: 06/16/2024
[If you do not say why you are rejecting the company's response, BBB must close your complaint.]
Complaint: 21735765
I am rejecting this response because: My account was discussed with two people that is not on the account. They was given information that was not related to them. The person that went into Title *** was told how much my payments were and my account was being charged off due to non payment. He is willing to provide a notarized statement. The other individual is willing to provide a statemrnt also. ****** stated to me that it was not her because she did not work on that Friday. I asked who the employee was, she stated it was Santaje. My rights to financial privacy were violated.
Regards,
***************************Initial Complaint
Date:05/17/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have a car title loan with this company. I paid $1500 in March. The expectation was that the loan world refinance for a lower amount. Instead the store closed and sent my account to a corporate office that promptly started assessing late fees and has made it impossible to access my account online to pay and will not allow me to pay by phone. I'm going to get my car taken by these people and all because they won't allow me to pay.Business Response
Date: 05/21/2024
Thank you for the opportunity to respond to the complaint filed by ******* ****** (Complainant). TitleMax of Utah, Inc., DBA TitleMax, a member of Community Choice Financial® family of brands, appreciates the role of the Better Business Bureau in resolving consumer concerns. We are happy to provide this response.
To summarize, the Complainant states they paid $1,500.00 and were under the expectation that the loan would be refinanced for a lower amount. The store closed and their account was transferred to corporate who promptly assessed late fees. They claim they are not able to access their account online or are they allowed to make payments by phone. The Complainant requests a billing adjustment.
A review of TitleMax records reveals that on October 12, 2023, the Complainant obtained a Title Loan in the principal amount financed of $2,506.00 at a storefront in Cedar City, UT. The Complainant granted a security interest in a 2017 Chevrolet Sonic with a VIN ending in ******. The loan was contracted to be repaid in thirty-five monthly payments of $399.99, beginning November 10, 2023, and a final payment of $395.32, due October 10, 2026. On October 31, 2023, the Complainant made a payment of $53.88 and refinanced their existing loan of $1,464.09, borrowing an additional $175.00. The loan was contracted to be repaid in twenty-three monthly payments of $295.02, beginning December 10, 2023, and a final payment of $293.69, due November 10, 2025.
Between November 16, 2023, and December 11, 2023, the Complainant refinanced their loan on two (2) more occasions, borrowing an additional $1,350.00 total. The final refinance was completed on December 21, 2023, in which the Complainant made a payment of $157.14 and refinanced their existing of $2,989.09, borrowing an additional $500.00. The loan was contracted to be repaid in thirty-five monthly payments of $527.47, beginning January 21, 2024, and a final payment of $530.35, due December 21, 2026.
It is important to note that at the time of the loan origination and each refinance, the Complainant signed a Title Loan Agreement, Promissory Note and Security Agreement that clearly disclosed the annual percentage rate, finance charge, amount financed, total of payments and the repayment schedule in accordance with the Federal Truth-in-Lending Act and Regulation Z. By signing the loan agreements, the Complainant acknowledged their understanding of the terms and conditions of the loans.
Payment history on the most recent refinance indicates there have been three (3) payments made on the loan, with the most recent payment made on March 13, 2024, in the amount of $1,000.00. When the full minimum payment was not made on April 21, 2024, the account entered a past due status and the account was assessed a late fee of $30.00 on May 2, 2024. The Complainant’s account currently has a total balance of $2,878.86.
In response to the Complainant's allegation that they are not allowed to make a payment by phone, this claim is unsubstantiated. They may make payments by phone and were advised of this on a previous call on May 17, 2024. It is important to note that when the Complainant made their payment in March, they processed the payment as a regular payment and not a refinance payment. Unfortunately, due to the closure of the store of loan origination, the Complainant will not be able to complete any future refinances on their existing loan.
TitleMax strives for excellent customer service and remains willing to work with the Complainant to assist them in paying back their loan. We encourage the Complainant to contact TitleMax at ###-###-#### to arrange a mutually acceptable repayment arrangement for this account.
We hope that we have fully addressed the complaint. Should the Complainant or Better Business Bureau require further explanation, we may be reached at *****************************
Sincerely,
*** * ******** ********** ** *** *** ********** ** *****Initial Complaint
Date:05/14/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I took out a title loan of $300 and I paid it off but I continue to receive payment notifications. They are threatening to take my vehicle and I am currently homeless and live in my vehicle. They tell me it is interest charges but they are charging me weekly and I cannot afford to make payments weekly.Business Response
Date: 06/07/2024
June 7, 2024
Better Business Bureau
**************************************
RE: BBB Complaint ID ********
BBB Dispute Resolution Team:
Thank you for the opportunity to respond to the complaint filed by ***************************** (Complainant).TitleMax of *************** DBA TitleMax, a member of Community Choice Financial family of brands, appreciates the role of the Better Business Bureau in resolving consumer concerns. We are happy to provide this response.
To summarize, the Complainant states that they took out a loan of $300 and paid if off, but they continue to receive payment notifications. They state that the notifications are threatening to take the vehicle. They request the account be closed.
A review of TitleMax records reveals that on September 29, 2023, the Complainant obtained a Title Loan in the principal amount financed of $520.50 at a storefront in ********, **. The Complainant granted a security interest in a 2004 Pontiac Grand Am with a VIN ending in ******. The loan was contracted to be repaid in 23 monthly payments in the amount of $107.30, beginning on November 3, 2023, and a final payment of $105.60, due October 3, 2025. On October 13, 2023, the Complainant made a payment of $20.65 and refinanced their existing loan of $314.18, borrowing an additional $185.00. The loan was contracted to be repaid in 23 monthly payments in the amount of $99.74,beginning on November 10, 2023, and a final payment of $98.55, due October 10,2025.
It is important to note that at the time of the loan origination and each refinance, the Complainant signed a Consumer Installment Loan Agreement, Promissory Note and Security Agreement that clearly disclosed the annual percentage rate, finance charge, amount financed, total of payments and the repayment schedule in accordance with the Federal Truth-in-Lending Act and **************** addition, it states, 5. Lien Filing Fee; Late Fee: As authorized by Rev. ***** Mo. 408.140.1(2),Lender charges the Lien Filing Fee identified above to place its lien on the Vehicle. As authorized by Rev. ***** Mo. 408.140.1(3), Lender may charge a late fee on any installment not paid within 15 days of the applicable Payment Due Date in an amount equal to $15 or 5% of the past due installment amount,whichever is greater, up to a maximum of $50, provided that if the scheduled installment amount is $25 or less, the late fee shall not exceed $5. By signing the loan agreements, the Complainant acknowledged their understanding of the terms and conditions of the loans.
Payment history on the most recent refinance indicates there have been seven (7)payments made on the loan in the total amount of $600.00. When the payment was not made on May 10, 2024, the account entered a past due status and collection activities commenced as permitted by law.
Regarding the threatening repossession, the purpose of the calls is to reestablish communication, as the recovery of a vehicle is the last resort. As a result,TitleMax's intent is not to harass but to work with consumers. Further, TitleMax is committed to treating its valued customers in a fair, honest, and transparent manner. TitleMax reasonably ensures that its development, delivery, and servicing of products will not result in an act or practice that is unfair,deceptive, or abusive.
TitleMax believes that the conditions of the loan were clearly disclosed and cannot find any evidence of wrongdoing. TitleMax strives for excellent customer service and remains willing to work with the Complainant to assist them in paying back their loan. We encourage the Complainant to contact their local TitleMax at ************* to arrange a mutually acceptable repayment arrangement for this account.
We hope that we have fully addressed the complaint. Should the Complainant or Better Business Bureau require further explanation, we may be reached at ****************************.
Sincerely,
BSG Consumer Complaints
PO Box 550
*******************Initial Complaint
Date:04/24/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have a title loan through them and they will not sign the title transfer form in order to get my vehicle licensed in Missouri. They are saying my loan was not done correctly from the start and I either have to pay it off or the branch manager go with me to license it. It has not even been inspected for licensing yet. I didn't have this issue transferring my car over to Missouri. It is not my fault that their representative did not do things correctly and I should be punished for it. I have already paid them 3 times what I borrowed from them. Why should I have to pay off this loan before I can license my motorcycle in Missouri? I only borrowed $3000.00 against the motorcycle. I have never heard of having to pay a loan off before the title can be transferred to another state. My car finance company didn't say it had to be paid off first. The Arkansas title was processed and they were added as lienholder to it. They are telling me the reason for filling out the form **** is that they are afraid they will lose the lien on my bike. I am not trying to get out of the loan I just want to license my bike so I can ride it and maintain it in good working order per the contract.Business Response
Date: 05/01/2024
*******************
Thank you for the opportunity to respond to the complaint filed by ****** ******** (Complainant). TitleMax of Missouri, Inc., DBA TitleMax, appreciates the role of the Better Business Bureau in resolving consumer concerns. We are happy to provide this response.
To summarize, the Complainant states TitleMax will not sign the title transfer form in order to get their vehicle licensed in MO. They claim they were told the loan was not done correctly and would have to pay their loan off or have a branch manager go with them in order to transfer the title as TitleMax is afraid they would lose their lien. They are requesting that their vehicle’s title be transferred to the state of MO.
A review of TitleMax records reveals that on July 16, 2022, a Title loan was obtained in the principal amount financed of $3,017.00 at a storefront in Jefferson City, MO. The Complainant granted a security interest in a 2003 HD Road King with a VIN ending in 706313. The loan was contracted to be repaid in 35 monthly payments of $479.83 beginning August 13, 2022, and a final payment of $474.13 due July 13, 2025. A review of the payment history indicates there have been 21 payments made on the loan totaling $10,076.43, and the account is current.
In response to the Complainant’s request to get their title transferred to the state of MO, we have forwarded their concern to the appropriate department in order to assist with this process. We apologize for the poor customer experience. Should the Complainant have any additional questions or concerns regarding their account, we encourage them to contact TitleMax directly at ###-###-####.
We hope that we have fully addressed the complaint. Should the Complainant or Better Business Bureau require further explanation, we may be reached at *****************************
Sincerely,
BSG – Consumer Complaints
** *** *** ********** ** *****Customer Answer
Date: 05/02/2024
I have not heard anything from Titlemax regarding this matter. Therefore I do not consider it resolved. All they would have to so is fill out and sign the form in front of a Notary Public and then let me take it to the Department of Motor Vehicles and register my motorcycle in Missouri. Considering I have made my payments faithfully and my account is current I don't think that is too much to ask of them. They are listed as lienholder on the title now.
Regards,
****** ********Business Response
Date: 05/10/2024
**********************
Thank you for the opportunity to respond to the rebuttal filed by ****** ******** (Complainant). TitleMax of Missouri, Inc., DBA TitleMax, appreciates the role of the Better Business Bureau in resolving consumer concerns. We are happy to provide this response.
In response to the Complainant’s concern regarding the transfer of title, we are actively providing support to complete the transfer of title from AR to MO. The Complainant may contact us directly at **************************** regarding the status.
We hope that we have fully addressed the complaint. Should the Complainant or Better Business Bureau require further explanation, we may be reached at *****************************
Sincerely,
BSG – Consumer Complaints
****************Initial Complaint
Date:04/20/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I took out a 200 dollar loan on 10/19/23. They said the only way to pay was thru ACH. I have made 50 dollar payments since. For 8 months I have paid Over 400 dollars and I owe more then I borrowed still. The interest and ways to pay are predatory. I can't pay anymore than what is aloud. At this rate it will take me a few years to pay it off and thousands of dollars.Business Response
Date: 04/26/2024
***** *** **** ****** ******** ****** **** ****** **** ********* ** ***** *** *** ********* ** ******** *** ******* ********** *****
Thank you for the opportunity to respond to the complaint filed by ******* ****** (Complainant). TitleMax of Kansas dba TitleMax appreciates the role of the Better Business Bureau in resolving consumer concerns. We are happy to provide this response.
To summarize, the Complainant states they took out a $200.00 loan on October 19, 2023, and has paid $50.00 payments for over eight months; however, they still owe more than they’ve borrowed. Their desired resolution is a billing adjustment for $400.00.
A review of TitleMax records reveals that on October 19, 2023, the Complainant obtained an Unsecured Line of Credit with a credit limit of $200.00 at a storefront in Junction City KS, with an initial advance of $200.00. The first payment of $41.50 was due on November 23, 2023, and a second payment of $60.44 was due on December 21, 2023. A review of the payment history indicates there have been six (6) payments made on the loan and the account is current.
At the time of loan origination, the Complainant signed the Unsecured Line of Credit Account Opening Disclosures and Account Opening Acknowledgement that clearly discloses clearly discloses the annual percentage rate in accordance with the Federal Truth-in-Lending Act and Regulation Z. In addition, was provided the Unsecured Line of Credit Terms and Conditions. By signing this agreement, the Complainant acknowledged their understanding of the terms and conditions of the loan.
As stated in their Unsecured Line of Credit Account Opening Disclosures and Account Opening Acknowledgement listed under Section F:
“We encourage you to pay more than the Minimum Payment Due to minimize the amount of Interest and fees you may incur. You may prepay any outstanding principal amount and billed Interest and fees owed on your Account in whole or in part at any time without penalty. The Minimum Principal Amount due for each Billing Cycle is calculated at the end of each Billing Cycle and will be an amount equal to 3% of the ending principal balance for such Billing Cycle.”
In addition, the Complainant receives periodic billing statements that include the following statements:
“Minimum Payment Warning: If you make only the minimum payment each period, you will pay more in Interest, and it will take you longer to pay off your balance.
If you have agreed to repay amounts owed on your account via Auto Pay, the Minimum Payment Due will be debited on the Payment Due Date. To change your Auto Pay preferences or cancel Auto Pay, call us at ###-###-####.”
It is important to note that the Complainant has opted to make only the minimum payment due each time.
TitleMax believes that the conditions of the loan were clearly disclosed and finds no discrepancy or concern in how the transaction was processed, therefore no billing adjustment will be provided at this time. TitleMax strives for excellent customer service. Therefore, TitleMax remains willing to work with the Complainant to repay the balance on the account. We encourage them to contact TitleMax at ###-###-#### to discuss possible repayment options.
We hope that we have fully addressed the complaint. Should the Complainant or Better Business Bureau require further explanation, we may be reached at *****************************
Sincerely,
BSG – Consumer Complaints
** *** *** ********** ** *****Customer Answer
Date: 05/09/2024
None of that was explained to me at the time of getting the loan. The only thing that was explained was my first three payments. So all my payments come out on ACH, so what you are saying is I have to go to the store if I want to pay more then the minimum. That was not explained. None of the truth in lending was explained. I pay 50 plus a month and only 5 goes to the principal. Why don't you guys give out paper forms? I can't access my documents online. When I try it always says unavailable. So how am I to go back and look at them.
Regards,
******* ******Business Response
Date: 05/17/2024
Thank you for the opportunity to respond to the rebuttal filed by ******* ****** (Complainant). TitleMax, a member of Community Choice Financial® family of brands, appreciates the role of the Better Business Bureau in resolving consumer concerns. We are happy to provide this response.
TitleMax reiterates its response in its previous correspondence. At the time of loan origination, the Complainant signed the Unsecured Line of Credit Account Opening Disclosures and Account Opening Acknowledgement that clearly discloses clearly discloses the annual percentage rate in accordance with the Federal Truth-in-Lending Act and Regulation Z. In addition, was provided the Unsecured Line of Credit Terms and Conditions. By signing this agreement, the Complainant acknowledged their understanding of the terms and conditions of the loan.
TitleMax believes that the conditions of the loan were clearly disclosed and finds no discrepancy or concern in how the transaction was processed.
In response to the Complainant's concerns regarding not being able to access their loan documents online, we encourage the Complainant to contact TitleMax at ###-###-#### for assistance.
We hope that we have fully addressed the complaint. Should the Complainant or Better Business Bureau require further explanation, we may be reached at *****************************
Sincerely,
BSG – Consumer Complaints
** *** *** ********** ** *****Initial Complaint
Date:04/11/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I did the loan in Jan 2024. The loan was $2000. The rep told me “ the easier and more convenient way to pay is through the app and any additional payments would go towards the principle”. This was a deliberate lie!
My first payment was due in Feb, so I made $295 additional payments in January thinking it was going towards the principle. The I made a $400 payment in Feb and $500 in March. Now I owe $2260.00??? None of that money went towards the principle.
I called customer service and she informed me that I need to make all these payments in the store and “ tell “ them to put it towards my principle. The customer service rep apologized and told me she wished she never got a lot of these calls, but she does.
This has devastated my family, put us in a hardship situation. This seems deliberate, to put a person in such a hole they have no choice but to turn over their vehicle.
If this can’t be resolved Iv been instructed to file a complaint with the CFPB and Arizona Attorney General.
I believed Title max was there to help me during a rough time, when they waiting to prey and take advantage of people like me who need some help and nowhere else to go.
Business Response
Date: 04/16/2024
*****************
Thank you for the opportunity to respond to the complaint filed by ****** ****** (Complainant). TitleMax of Arizona, Inc., DBA TitleMax, appreciates the role of the Better Business Bureau in resolving consumer concerns. We are happy to provide this response.
To summarize, the Complainant states they were told that any additional payments they made in the app would go towards principal which they claim was a lie. They state they made an additional payment of $295.00 in January, $400.00 in February, and a $500.00 payment in March and despite that, they still owe $2,260.00.
A review of TitleMax records reveals that on June 2023, the Complainant obtained a title loan in the principal amount financed of $400.00 at a storefront in Tempe, AZ. The Complainant granted a security interest in a 2008 Chevy Equinox with a VIN ending in ******. The loan was contracted to be repaid in 23 monthly payments of $69.77, beginning July 20, 2023, and a final payment of $67.27, due June 20, 2025. On August 17, 2023, the Complainant made a payment of $60.00 and refinanced their existing loan of $107.60, borrowing an additional $600.00. The loan was contracted to be repaid in 23 monthly payments of $112.27, beginning September 22, 2023, and a final payment of $111.62, due August 22, 2025.
Between September 28, 2023, and December 21, 2023, the Complainant refinanced their loan on ten more occasions, borrowing an additional $2,900.00 total. The final refinance was completed on December 24, 2023, in which the Complainant made a payment of $33.58 and refinanced their loan for the remaining balance of $2,271.45, borrowing an additional $125.00. The loan was contracted to be repaid in 23 monthly payments of $376.07, beginning January 26, 2024, and a final payment of $375.15, due December 26, 2025.
It is important to note that at the time of the loan origination and each refinance, the Complainant signed a Secondary Motor Vehicle Finance Transaction Contract that clearly disclosed the annual percentage rate, finance charge, amount financed, total of payments and the repayment schedule in accordance with the Federal Truth-in-Lending Act and Regulation Z. By signing the loan agreements, the Complainant acknowledged their understanding of the terms and conditions of the loans. In addition, the contract contained the following regarding application of payments:
“Interest; Application of Payments; Prepayment: Interest will accrue daily on the outstanding principal balance. The interest rate is 179.8800% per year (which is based on a monthly rate of 14.9900%). Interest accrues from the Loan Date until the first to occur of (a) the Loan is paid in full, and (b) the day that is 90 days after the final Payment Due Date. Interest accrues based on the number of days elapsed over a 365-day year. Lender calculates and charges interest, including interest on past due principal, under Arizona Revised Statutes § 44-281 et seq. If any finance charge or other fee is held invalid, the remainder shall remain in effect. Lender applies payments first to unpaid interest, then to fees, and then to unpaid principal. The Payment Schedule and Finance Charge above assume that I pay all installments in full on the Payment Due Dates. I will owe less interest if I pay early or prepay. If I pay late or do not pay in full, I will owe more interest. I may prepay this Loan at any time without penalty. “Interest” as used in this Contract means the “secondary motor vehicle finance rate” for purposes of Arizona Revised Statutes § 44-281 et seq.”
A review of the payment history on the most recent refinance indicates there have been six (6) payments made on the loan. In response to the Complainant’s claims that they made an extra of $295.00 for the January minimum payment of $376.07, the Complainant paid the payment in four separate payments from December 29, 2023, to January 26, 2024, totaling $395.00. On February 9, 2024, the Complainant made a payment of $500.00, where $253.28 was applied to their loan principal. On March 22, 2024, the Complainant made a payment of $400.00 which was applied to interest. The Complainant’s account currently has a balance of $2,061.56.
TitleMax believes that the conditions of the loan were clearly disclosed and finds no discrepancy or concern in how the transaction was processed. However, TitleMax strives for excellent customer service and remains willing to work with the Complainant to assist them in paying back their loan. We encourage the Complainant to contact TitleMax at ###-###-#### to discuss a mutually agreeable payment arrangement.
We hope that we have fully addressed the complaint. Should the Complainant or Better Business Bureau require further explanation, we may be reached at [email protected].
Sincerely,
BSG – Consumer Complaints
** *** *** ********** ** *****Initial Complaint
Date:04/04/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
***********
I visited the office above on 28 requested loan $1000 to pay electric bill & (illegible) - Application was taken and approved $4000 turned over my title. Requested copy of my application for schedule of payments and for him to correct my address - which was not done … this later on presented I believe a problem…the money was transferred to my ******* ****** ***** account. Paid this loan of on 3/1 4/1093.94 was charged interest customer fees twice.
2nd (illegible) thing happened I tried to open account on line …had a lot of trouble - had to make a 2hr round trip to their office (as instructed ***** helped me. I was there I requested (illegible) everything was accomplished on 3/7.
3rd time 3/21 tried to transfer (online) much needed funds to my *** acct - and I got many failed attempted; saying couldn’t verify information ( called customer service ###-###-####) talked to representative @ 6:42 pm…I was told it was no solution for my problem - this don’t make any sense. I was told to make the 2 hr trip to office.
This doesn’t make any sense…this is why I downloaded mobile app – this sounds like a scam.Online my fees are much lower - when I go in office I’m paying twice. Of course this is costing me in other ways also.
Thank you very much for helping me with these concerns.
Sincerely,
***** ******* * * *** ** ** **** ** *****
###-###-####Business Response
Date: 04/09/2024
*****************
Thank you for the opportunity to respond to the complaint filed by ***** ******* (Complainant). TMX Finance of Tennessee, Inc., DBA TitleMax, appreciates the role of the Better Business Bureau in resolving consumer concerns. We are happy to provide this response.
To summarize, the Complainant states the Complainant states their address was not corrected when requested and believes this later presented a problem. They state they paid off their loan on March 1, 2024, and were charged interest customer fees twice. In addition, state they have had issues online and had to make two-hour trips to the office. They claim that online, their fees are much lower and when they pay in the office, they pay twice.
A review of TitleMax records reveals that on February 8, 2024, the Complainant obtained a Line of Credit with a credit limit of $4,000.00 at a storefront in Bristol, TN, with an initial advance of $1,000.00. The Complainant granted a security interest in a 2014 Ram 1500 with a VIN ending in ******. The first payment of $76.97 was due on March 7, 2024, and a second payment of $71.83 was due on April 7, 2024.
A review of the payment history reveals the Complainant paid their balance off for their initial advance on March 1, 2024, in the amount of $1,093.94. On March 7, 2024, the Complainant requested a draw on their loan of $800.00, but paid off the balance of $864.91, on March 26, 2024. They requested a draw of $1,000.00 on April 1, 2024, which was funded via card.
At origination, the Complainant acknowledged the terms and conditions of the loan by signing the Secured Line of Credit Account Opening Disclosures and Account Opening Acknowledgement. The loan agreement clearly discloses the interest rate in accordance with the Federal Truth in Lending Act and Regulation. It is also important to note that a TitleMax employee explained the terms and conditions to the Complainant including, but not limited to, the application of a customary fee. In addition, the Complainant is also provided with a detailed monthly statement that explains the fees and charges incurred on the account during the billing cycle, and includes information about the account balance, the minimum payment required and the payment’s due date.
Please note that the Complainant is attempting to obtain a cash advance under the TN license. Hover, since the Complainant’s geolocation is in a different state from the loan origination, they are unable to request cash advances online and must do so in person. updates, and discuss what each of us are currently working on.
TitleMax believes that the conditions of the loan were clearly disclosed and finds no discrepancy or concern in how the transaction was processed. We encourage the Complainant to call Customer Service at ###-###-#### for questions regarding their account, including address change requests.
We hope that we have fully addressed the complaint. Should the Complainant or Better Business Bureau require further explanation, we may be reached at *****************************
Sincerely,
BSG – Consumer Complaints
** *** *** ********** ** *****Customer Answer
Date: 04/24/2024
**************
To Whom It May Concern:
I am very sorry about these problems - but the records show that it's not my fault - I'm just trying to live like everyone else in this country - just trying to pay my bills. But due to someone entering the incorrect address, etc., trying to do business online it was made very difficult, causing other issues, it should be a smooth transaction.
Paragraph 6 letter dated April 9, message from the business. This is very untrue, I went into the above location with these issues. A person by name of ***** helped me. we did trouble shooting, everything was set up online on my phone, transaction was done, everything verified. The problem I'm having online when I attempt there always is verification so this causes me to have to go in office and the fess are double. This is the first time I've heard of geo location issue. They NEVER said that was the problem.
Thank you,
***** *******
* * *** ** ** ***** ** ***** ************
Initial Complaint
Date:03/20/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I went into a loan with Titlemax on Oct 28, 2021. When I got the loan it was explained to me that I would just need to make my monthly payments. What I did not know is that those payments were for interest only and nothing went to principle. After speaking to another representative in now March 2024, She stated I could be paying on the loan forever unless I paid over my monthly payments. My originated pay off was $2,039.34. I updated the loan and now my payoff is $$2,588.64. I have been paying interest since 2021. I am sure I have paid the value of the loan as well as my 2009 sonata over that period of time. I am requesting that this loan be considered paid and my title returned to me.Business Response
Date: 03/26/2024
*******************:
Thank you for the opportunity to respond to the complaint filed by ******** ******** (Complainant). TitleMax of Texas, Inc., DBA TitleMax, appreciates the role of the Better Business Bureau in resolving consumer concerns. We are happy to provide this response.
To summarize, the Complainant states that when they got their loan, it was explained to them that they would just need to make the monthly payments. They did not know those payments were for interest only and nothing went to the principal. They have been paying interest since 2021, and request the loan be considered paid as well as receive their title back.
TitleMax of Texas, Inc. is a credit services organization (“CSO”) and credit access business registered and licensed under Texas law. TitleMax assists consumers in obtaining motor vehicle title loans from third-party lenders and is not a lender in Texas. TitleMax charges a CSO fee in the amount permitted by Texas law.
A review of TitleMax records reveals that on July 29, 2022, the Complainant obtained a CSO loan with NCP Finance Limited Partnership in the principal amount financed of $1,733.00 at a storefront in Plano, TX. The Complainant granted a security interest in a 2009 Hyundai Sonata with a VIN ending in ******. The loan was contracted to be repaid in full in the amount of $2,079.51 on August 29, 2022. On August 28, 2022, the Complainant made a payment of $345.95 and refinanced their existing loan of $1,733.00. The loan was contracted to be repaid in full in the amount of $2,079.51, on September 28, 2022.
Between September 20, 2022, and January 20, 2024, the Complainant refinanced their loan on twelve more occasions, borrowing an additional $658.00 total. The 14th and final refinance was completed on March 20, 2024, in which the Complainant made a payment of $550.00 and refinanced their loan for the remaining balance of $2,038.64. The loan is contracted to be repaid in full in the amount of $2,446.26, on April 20, 2024.
At the time of loan origination and refinance, the Complainant signed a Promissory Note as well as the Credit Services Contract and Security Agreement that clearly disclosed the annual percentage rate, finance charge, amount financed, total of payments and the repayment schedule in accordance with the Federal Truth in Lending Act and Regulation Z. By signing the Promissory Note and Credit Services Contract and Security Agreement, the Complainant acknowledged their understanding of the terms and conditions of the loans.It is important to note that Title Max encourages customers to use this product as a short-term financial solution. The balance may be paid back at any time with no penalty for early payoff. Further, customers may cancel the agreement by returning the check by which TitleMax disbursed the loan proceeds or an equivalent amount of cash to us by the close of business on the business day following the date of the agreement.
TitleMax believes that the conditions of the loan were clearly disclosed and finds no discrepancy or concern in how the transaction was processed. As such, the loan will not be considered paid in full at this time. The Complainant is invited to contact TitleMax at ###-###-#### for any questions or concerns regarding their account.
We hope that we have fully addressed the complaint. Should the Complainant or Better Business Bureau require further explanation, we may be reached at *****************************
Sincerely,
BSG – Consumer Complaints
** *** *** ********** ** *****Customer Answer
Date: 04/04/2024
the information is not what was explained to me when I signed up. At this point the car has been paid for over and over again. While I understand this is supposed to be a short term option, the conditions were not explained clearly or else this loan wouldn't be in existence for me and my family. Please reconsider as we have been paying on this for almost 2 years.
Regards,
******** ********Initial Complaint
Date:03/18/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I am dyslexic, autistic, and have ADHD. By law I don't have to disclose that; however I know myself well enough to know that I need to ask lots of questions before signing anything. I thought I asked the right questions when I went in for the loan and sought clarification in the way of dozens of questions. I'm not an ignorant person, but I am aware of my needs, so I feel I did my due diligence to seek information.
I understood on signing that I would be making payments on the principal of my loan with, of course, hefty interest. I thought the final balloon payment would only The simple balance. When I called to make my final payment, i was told that I had paid $2000 to nothing, and I owed more than the original loan.
I feel taken advantage of, and I feel tricked into entering these terms. Whether or not this was intentional, I am afraid for others who may not completely comprehend what they're signing even after research and inquiry.
I am not looking for extra compensation, but for my payments to go to the principal so that I may sever my relationship with Title Max
Business Response
Date: 03/22/2024
******************
Thank you for the opportunity to respond to the complaint filed by ****** ***** (Complainant). TitleMax of Texas, Inc., DBA TitleMax, appreciates the role of the Better Business Bureau in resolving consumer concerns. We are happy to provide this response.
To summarize, the Complainant states they feel taken advantage of and tricked into the loan terms. They request a billing adjustment for their payments to go to the principal.
TitleMax of Texas, Inc. is a credit services organization (“CSO”) and credit access business registered and licensed under Texas law. TitleMax assists consumers in obtaining motor vehicle title loans from third-party lenders and is not a lender in Texas. TitleMax charges a CSO fee in the amount permitted by Texas law.
A review of TitleMax records reveals that on October 6, 2023, the Complainant obtained a CSO loan with Ivy Funding Company, LLC in the principal amount financed of $2,600.00 at a storefront in El Paso, TX. The Complainant granted a security interest in a 2017 Chevrolet Spark with a VIN ending in ******. The loan was contracted to be repaid in five (5) payments with the first payment being $382.92, due November 3, 2023, and the following three (3) payments in the amount of $413.70, due monthly beginning December 3, 2023, and a final fifth payment of $413.70 representing the final CSO fee and $2,705.59 representing the principal and lender interest, due March 3, 2024.
A review of the payment history indicates there have been four (4) payments made on the loan. When the payment was not made on March 3, 2024, the account entered a past due status. The Complainant currently has a past due balance of $3,262.35.
It is important to note that at the time of the loan origination, the Complainant signed a Promissory Note that clearly disclosed the annual percentage rate, finance charge, amount financed, total of payments and the repayment schedule in accordance with the Federal Truth-in-Lending Act and Regulation Z. In addition, signed a Credit Services Contract and Security Agreement. By signing the Promissory Note and Credit Services Contract and Security Agreement, the Complainant acknowledged their understanding of the terms and conditions of the loans.
In response to the claim the Complainant was allegedly taken advantage of, TitleMax is committed to treating its valued customers in a fair, honest, and transparent manner. To honor that commitment, TitleMax reasonably ensures that its development, delivery, and servicing of products will not result in an act or practice that is unfair, deceptive, or abusive.
TitleMax believes that the conditions of the loan were clearly disclosed and finds no discrepancy or concern in how the transaction was processed. TitleMax strives for excellent customer service and remains willing to work with the Complainant to assist them in paying back their loan. We encourage the Complainant to contact TitleMax at ###-###-#### to arrange a mutually acceptable repayment arrangement for this account.
We hope that we have fully addressed the complaint. Should the Complainant or Better Business Bureau require further explanation, we may be reached at *****************************
Sincerely,
BSG – Consumer Complaints
** *** *** ********** ** *****Customer Answer
Date: 03/27/2024
Again, I signed a document under terms which I understood as reading one way, and those terms are not what are occurring now. Once I addressed my concerns, to me the individual who took my call should have explained and helped me come up with a solution to this. To me, allowing this misunderstanding without remedy is ableist and deceptive.
Additionally, I have the cognitive capacity to read through documents and seek information, which I did, which is why this was so shocking to me to begin with.
I will seek further legal action if this matter is not resolved, as this puts me in further debt than when I originally went to Title Max to resolve. I would like to please see my file closed with payments equal to the amount I paid and I would like to see further safeguards to prevent deceptive practices, whether or not they were intentional.
Regards,
****** *****Initial Complaint
Date:03/15/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
My car was repossessed after I defaulted on a title loan. I accepted that. The pay off amount ended up being 2839.21. In Nevada you only 10 days to retrieve your vehicle.
So as I scrambled I was able to get my ex boyfriend and my son to pay this amount. I would use my boyfriends card for 1000.00 and my son would use his bank card to pay the balance. They also stated that there would be a 10 day hold on my car until they received the money which I agreed to.
I only have two days left and was told I could only pay in cash in the original store. The original store is in Reno NV and I'm in Las Vegas, NV. That's over 400 miles. Now who keeps that kind of cash? Of course I would have to pay with a card.
So I feel they are purposely trying to make me not get my car. And in today's world that is ****** up. I've had a good standing account with them. There was no need for any of this.
So how am I suppose to get all that cash together and get to Reno? I'm on Social Security and being treated like ******
Is this what America has become? God help us all. Thank you **** ********
Business Response
Date: 03/22/2024
****************
Thank you for the opportunity to respond to the complaint filed by **** ******** (Complainant). TitleMax of Nevada, Inc., DBA TitleMax, a member of Community Choice Financial® family of brands, appreciates the role of the Better Business Bureau in resolving consumer concerns. We are happy to provide this response.
To summarize, the Complainant states their car was repossessed after they defaulted on a title loan. They were told they could only pay in cash at the original store location in Reno, NV, which is over 400 miles away. They request to accept a payment using their card to get their car back.
A review of TitleMax records reveals that on October 23, 2023, the Complainant obtained a title loan in the principal amount financed of $1,700.00 at a storefront in Reno, NV. The Complainant granted a security interest in a 2009 Ford Focus with a VIN ending in ******. The loan was contracted to be repaid in 6 monthly payments of $442.77, beginning November 22, 2023, and final payment of $442.76, due May 20, 2024.
A review of the payment history indicates there has been one (1) payment made on the loan on December 21, 2023. When the second scheduled payment was not made on December 22, 2023, the account entered a past due status on January 22, 2024. Due to non-payment on March 7, 2024, the Complainant’s vehicle was repossessed, the account was assessed a $415.00 repossession fee, and collection activities commenced as permitted by law. The Complainant’s account currently has a total balance of $2,837.21. The Complainant can contact TitleMax collections department at ###-###-#### to make a payment by card or they may mail a certified check to the store location.
We hope that we have fully addressed the complaint. Should the Complainant or Better Business Bureau require further explanation, we may be reached at *****************************
Sincerely,
BSG – Consumer Complaints
** *** *** ********** ** *****
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