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
- 435 total complaints in the last 3 years.
- 146 complaints closed in the last 12 months.
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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:01/04/2025
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.
Subject: Formal Complaint Regarding Lack of Response to Request for Contract/Promissory Note
Dear Better Business Bureau,
I am writing to formally file a complaint against INSTALOAN located at ************************************. regarding their failure to respond to my written request for important documentation related to a transaction I conducted with them.
On December 19, 2024, I sent a letter addressed to the General Manager, **** B of INSTALOAN requesting a complete and accurate copy of the contract or promissory note for a transaction that occurred on December 9, 2024. This request was sent via certified mail, and I have confirmed that the letter was received by INSTALOAN on December 21, 2024, as verified by the tracking number 9589 0710 5270 2127 2978 65.
As of today, January 4, 2025, I have not received any correspondence or response from INSTALOAN addressing my request. This lack of communication is unacceptable and has raised further concerns about the transparency and integrity of their operations.
The reason for my initial request was due to suspicions of potential discrepancies or fraudulent activity related to the transaction. Obtaining a copy of the original contract or promissory note is crucial for verifying the accuracy of the terms and conditions associated with this transaction.
I kindly ask for your assistance in resolving this matter. I believe it is essential for businesses to operate transparently and responsibly, especially when handling financial agreements. INSTALOAN's failure to address my concerns in a timely manner is a serious issue that warrants immediate attention.
Please let me know if any additional information is needed to support my complaint. I look forward to your guidance on the next steps to ensure this matter is resolved promptly.
Thank you for your time and attention to this matter.
Sincerely,
Business Response
Date: 01/09/2025
January 9,2025
Better Business Bureau
****************
******************
RE: BBB Complaint ID ********
BBB Dispute Resolution Team:
Thank you for the opportunity to respond to the complaint filed by ******** ********* (Complainant).****************************, DBA InstaLoan, 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 sent correspondence to InstaLoan requesting their promissory note and have yet to receive a response as of January 4, 2025.
A review of InstaLoan records revealed that on December 9, 2024, the Complainant obtained a loan in the amount of $3,891.30 at a store location in ********, **. The Complainant granted a security interest in a 2015 Chrysler 200 with a VIN ending in ******. The loan is contracted to be repaid in full in the amount of $4,035.11, due on January 9, 2025.
At the time of loan origination, the Complainant signed a Consumer Finance Loan and Security Agreement that clearly discloses 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 agreement, the *********** acknowledged their understanding of the terms and conditions of the loan. A copy of the contract was given to the Complainant at the location where the loan originated.
To address the Complainants statement of not receiving a response to their letter correspondence, on January 7, 2025, per the Complainants request, a response and a copy of the Consumer Finance Loan and Security Agreement was sent to the address listed on the complaint. In addition, the Complainant may visit ******************************************** to access these documents.
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: 01/15/2025
09/15/2024
Dear, Dispute Resolution Team:
I am writing to formally reject the response provided by ****************************, DBA InstaLoan, regarding my complaint filed with your office. I would like to clarify that I did not receive a copy of the contract on the day the loan originated, nor have I received any documents I have since requested from the business.
I would appreciate it if you could assist me in obtaining an estimated time of arrival (ETA) for when I will receive these documents. Additionally, I want to confirm that the business has the correct address on file for me. Could you kindly provide me with the address they currently have listed for me?
Thank you for your attention to this matter. I look forward to resolving this issue promptly.
Sincerely,
******** *********Customer Answer
Date: 01/15/2025
[If you do not say why you are rejecting the company's response, BBB must close your complaint.]
Complaint: 22769277
I am rejecting this response because:
I am writing to formally reject the response provided by ****************************, DBA InstaLoan, regarding my complaint filed with your office. I would like to clarify that I did not receive a copy of the contract on the day the loan originated, nor have I received any documents I have since requested from the business.
I would appreciate it if you could assist me in obtaining an estimated time of arrival (ETA) for when I will receive these documents. Additionally, I want to confirm that the business has the correct address on file for me. Could you kindly provide me with the address they currently have listed for me?
Thank you for your attention to this matter. I look forward to resolving this issue promptly.
Sincerely,
******** *********Business Response
Date: 01/22/2025
January 22,2025
Better Business Bureau
****************
******************
RE: BBB Complaint ID ********
BBB Dispute Resolution Team:
Thank you for the opportunity to respond to the rebuttal referencing the complaint filed by ******** ********* (Complainant). ****************************, DBA InstaLoan, 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 sent correspondence to InstaLoan requesting their promissory note and have yet to receive a response as of January 4, 2025.
Instaloan records indicate that we sent correspondence to the Complainant via email on January ******, and via the BBB on January 9, 2025. As stated in our previous BBB response, a copy of the contract was given to the Complainant at the location where the loan originated. Further, on January 7, 2025, per the Complainants request, a response and a copy of the Consumer Finance Loan and Security Agreement was sent to the address listed on the complaint. Please note the Complainant may also visit ***************** and log into their Customer Portal to access these documents at any time free of charge.
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:01/02/2025
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 originally applied for a loan with this TitleMax location. Once I was able to be approved by another finance company, we called and advised that the check was being mailed by the next day. It was in the middle of a holiday week. TitleMax claimed that the lender advising them that the check was being mailed would not be enough to hold off on taking the car. I spoke with *** **** ********* and they stated that they work with TitleMax all the time and that they should have held off on the repossession. My car was repossessed the same day that they received the check- two days after Christmas. They refused to waive the repossession fee. It was just shy of $400 two days after Christmas. They would not have them bring the car back or take any payments over the phone.Business Response
Date: 01/06/2025
***************
Thank you for the opportunity to respond to the complaint filed by ***** ****** (Complainant). TitleMax of Texas, 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.
TitleMax of Texas, Inc., DBA TitleMax is a registered Texas Credit Services Organization (“CSO”) and assists consumers in obtaining loans from willing, unaffiliated lenders. TitleMax services the loan but is not a lender in Texas. TitleMax charges a CSO fee in the amount permitted by Texas law.
To summarize, the Complainant alleges they informed TitleMax of a payoff check that should have arrived the next business day from another finance company. However, TitleMax advised them that a mailed check was not enough to hold repossession of the vehicle. The same day their vehicle was repossessed, TitleMax received the check. They further allege TitleMax refused to waive the repossession fee, return the vehicle back to them or take a payment over the phone. Their desired resolution is a refund in the amount of $373.72, and a correction to their credit report.
A review of TitleMax records revealed that on October 18, 2024, the Complainant obtained a loan with First Star Financial, LLC in the amount of $4,000.00 at a storefront in San Antonio, TX. The Complainant granted a security interest in a 2014 Toyota Corolla with a VIN ending in ******. The loan was contracted to be repaid in full in the amount of $4,719.14, due on November 18, 2024.
A review of the payment history indicates the payment due on November 18, 2024, was not received, therefore, the loan entered a past due status. Due to continued non-payment, on December 27, 2024, the vehicle was repossessed, a repossession fee of $375.00 was assessed to the loan and a Notice of Plan to Sell (NOPTS) was sent to the Complainant. That same day, a cashier’s check in the amount of $5,006.11 was received and the remaining balance of $373.72 was paid by debit card to satisfy the loan. The Complainant was then provided an appointment to redeem the vehicle on December 30, 2024.
At the time of the loan origination, the Complainant signed Loan Agreement, Promissory Note & Security Agreement as well as a Credit Services 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 agreement, the Complainant acknowledged their understanding of the terms and conditions of the loan.As we believe that the conditions of the loan were clearly disclosed and we cannot find any evidence of wrongdoing, the reimbursement of the repossession fee for $375.00 will not be approved at this time.
We hope that we have fully addressed the complaint. Should the Complainant or the Consumer Financial Protection Bureau require further explanation, we may be reached at ****************************Sincerely,
*** – Consumer Complaints
** *** *** ********** ** *****Customer Answer
Date: 01/06/2025
***********
********* not by me. The branch did not advise that I could deliver the check the same day until after my car was repossessed. Any discussion that was made prior to me being on the line is irrelevant. Not only was the check not issued by me, nor was I given the option to drop off the check, but also the check was mailed during a holiday week. *** **** ********* has stated that this normally will hold the vehicle and that they are very familiar with each other and that this is unusual behavior and that a refund of my money is an acceptable expectation. *** **** ********* said that if the information had been relayed during the phone call, they could have included more on the check or offered to give me a check to deliver same day. It’s not unreasonable to expect the money be refunded along with other inconveniences. I did lose my secondary source of income in part to the shenanigans TitleMax has wanted to play with technicalities and lack of empathy. This has caused me to be unable to pay my bills for this month.
Regards,
***** ******Initial Complaint
Date:01/02/2025
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 signed agreement to get some money and they place the money on a credit card that is five years old. I verified with the bank that the funds totaling ($517.00) was never placed on my card. I have tried talking with the manager and worker at the title company and they called me a liar and refuse to give me my money back and destroy the contract.Business Response
Date: 01/07/2025
**************
Thank you for the opportunity to respond to the complaint filed by ****** **** (Complainant). TitleMax of Missouri, 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 did not receive funds for a loan in the amount of $517.00 that was placed on a five-year-old card. They request a billing adjustment, a refund, and the contract to be canceled.
A review of TitleMax records revealed that on December 4, 2023, the Complainant obtained a loan in the amount of $800.00 at a storefront in Rolla, MO. The loan was contracted to be repaid in eleven (11) monthly payments of $295.00 beginning January 1, 2024, and a final payment of $294.73, due December 1, 2024. On December 6, 2024, the Complainant made a payment of $6.55 and refinanced their existing loan of $135.29, borrowing an additional $1,300.00, which was funded to their card ending in 8135. The loan was contracted to be repaid in eleven (11) monthly payments of $517.24 beginning January 1, 2025, and a final payment of $516.93, due December 1, 2025.
Payment history on the most recent refinance indicates there have been no payments made on the loan. When the payment was not made on January 1, 2024, the account entered a past due status. As of the date of this response, the Complainant’s account currently has a past due balance of $517.24 but is subject to change due to interest and/or fees that may be accruing.
To address the Complainant’s concern regarding funding, on a prior occasion, we confirmed the funding for the loan proceeds were successful to the card. At the time of the refinance, a store representative confirmed the funding was successful prior to the Complainant leaving the premises. It is important to note that the Complainant utilized the card ending in **** to refinance their loan on December 6, 2024, the same day that the funds were disbursed to that card. In an effort to further investigate, we previously requested a bank statement, which the Complainant provided, but it did not contain the necessary information to verify the transactions. We are requesting a 30-day bank statement for the month of December in order to address this allegation appropriately.
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,
*** – Consumer Complaints
** *** *** ********** ** *****Customer Answer
Date: 01/15/2025
I have not had debt card ending in **** for 4 or 5 years now. I never received any money on this card ****. My bank never received any money in my account or on this card. It been such a long time that my bank does not have a copy of the debt card ****. So I am not paying anything on the loan when I never got any money from Title Max.
Business Response
Date: 01/17/2025
*****************
Thank you for the opportunity to respond to the rebuttal referencing the complaint filed by ****** **** (Complainant). TitleMax of Missouri, 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 address the Complainant’s concern regarding the amount being $1,300.00, as stated in our previous response, the Complainant made a payment of $6.55 on December 6, 2024, and refinanced their existing loan of $135.29, borrowing an additional $1,300.00, which was funded to their card ending in ****. It appears that the Complainant may be confusing the past due amount with the additional funds they requested.
Since our previous response, the Complainant has been mailed a First Notice of Default. By making a payment of $517.24 by February 3, 2025, they may continue with their loan as though they were not late. As mentioned in our previous response, it is important to note that the Complainant utilized the card ending in **** to refinance their loan on December 6, 2024, the same day that the funds were disbursed to that card, contradicting the Complainant’s claims that they have not had the card for four (4) or five (years).
In an effort to further investigate, we previously requested a bank statement, which the Complainant provided, but it did not contain the necessary information to verify the transactions.
We are requesting a 30-day bank statement for the month of December in order to address this allegation appropriately. If the Complainant is unable to provide the requested documentation, we consider this matter as resolved.
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,
*** – Consumer Complaints
** *** *** ********** ** *****Customer Answer
Date: 02/14/2025
I am rejecting this response because: A letter from my bank and a copy of my December bank statement that was texted to ******** with BBB shows that we never received any deposits in my account or to the { my ] bank which is ****** ****** ***** the debt card was void a long time ago. and has not been used for months All I want is to have the contract voided how hard is that I never received any money, and I want this contract voided and I what a copy of it
Thank You
***** ****
Regards,
***** ****Business Response
Date: 02/19/2025
**********
Thank you for the opportunity to respond to the rebuttal referencing the complaint filed by ****** **** (Complainant). TitleMax of Missouri, 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.
We previously requested a 30-day bank statement for the account with card ending in **** for the month of December but have yet to receive the correct bank statement. We are unable to investigate further unless the correct documentation is provided. If the Complainant is unable to provide the requested documentation, we consider this matter as resolved.
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,
*** – Consumer Complaints
** *** *** ********** ** *****Initial Complaint
Date:12/30/2024
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 was late ona payment manger said if I pay 200 on dec 14 he was going to try and push it back the best he can I called and paid that money with the employee there that night I asked her what else is due to be able to make sure they dk t tow my car she said she didn’t know and I asked her to ask her manger to call me if there is any left. 4 days went by and I didn’t hear anything from them then the towed my car one hour before I was supposed to go to work. I called and he said it’s because I’d dint pay them. I informed him I did and ask your lady to have y call me if there was hurting left he said he didn’t tell her and that tj get my car back I needed to give the 1900 and I whe I did I would have to pick up my car from ogdan. I tired talking to the manger for the whole store and he said it was my fault because I didn’t pay but I did his employee did do her job. Then I told them my church was going to help me pay for that then. I went in with the my reliefs president and same girl said we could lot pay with credit card so I they gave me cash do go I mb on wensday I did same girl she said she could not take the payment. I called the next day let them know because there lady could not do her job I can’t come in anymore and he said she could take it she just didn’t know how. I told the girl that night to have her boss call me tomarrow. Again and she didn’t not tell him again. That’s why I called and they told me if I don’t give them the money they were going to sell my car on Monday and because of all this I lost my job and a 10000 car for 1 slow payment. I have version recording they do as wellBusiness Response
Date: 01/03/2025
*********************
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 were late on a payment and were told that if they paid $200.00, a manager would try and push back their repossession. Four (4) days later, their vehicle was repossessed, resulting in them having to pay more to get their vehicle back. They also claim they came in with a church relief president to make a payment but was not taken. They are requesting a refund of payment.
A review of TitleMax records revealed that on April 29, 2024, the Complainant obtained a loan in the amount of $2,506.00 at a storefront in Provo, UT. The Complainant granted a security interest in a 2013 Chrysler Town & Country with a VIN ending in ******. The loan was contracted to be repaid in thirty-five (35) monthly payments of $429.27 beginning May 30, 2024, and a final payment of $429.25, due April 30, 2027. On May 24, 2024, the Complainant made a payment of $119.94 and refinanced their existing loan of $2,506.00, borrowing an additional $1,500.00. The loan was contracted to be repaid in thirty-five (35) monthly payments of $611.20 beginning June 27, 2024, and a final payment of $612.80, due May 27, 2027.
Payment history on the most recent refinance indicates there have been eleven (11) payments made on the loan, although multiple payments have been for less than the scheduled amount due. When the full scheduled payment was not made on October 27, 2024, the account entered a past due status and collection activities commenced as permitted by law. Due to continued non-payment the vehicle was recovered on December 13, 2024, and a Notice to Sell was mailed to the Complainant.
At the time of the loan origination and each refinance, the Complainant signed a Title Loan Agreement, Promissory Note & 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.
As outlined in the signed agreement regarding vehicle recovery: Lender’s Rights After Default: “Lender’s rights after default are cumulative and not exclusive. If I default, Lender may make me immediately pay all amounts outstanding under the Note. Upon default Lender may repossess the Vehicle with or without judicial process. I may turn over the Vehicle to Lender any time after default. In exercising its rights, Lender must always act lawfully. I agree to pay Lender reasonable court costs and attorneys’ fees. If I default in my payment obligations as further described in Section 10(a) above, Lender will not repossess the Vehicle until after the Grace Period has expired.”
Further to the point, on November 25, 2024, the Complainant agreed to a Promise to Pay of a payment of $574.00 to be repaid on December 6, 2024, in which they were advised the vehicle would still be at risk of repossession because the payment amount would not bring the account current. The Complainant made two (2) payments online on December 6, 2024, which totaled $196.73. Due to multiple broken commitments promising to pay, the vehicle was placed for recovery.
In response to the Complainant’s claim that their loan payment was not processed, please note that the form of payment provided was a credit card. We do not accept credit cards as a valid form of payment for loan accounts. Consequently, the payment could not be applied to the loan.
As we believe that the conditions of the loan were clearly disclosed and cannot find any evidence of wrongdoing, a refund will not be provided at this time. 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 Customer Preservation at ###-###-#### to inquire about redemption repayment options as soon as possible.
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,
*** – Consumer Complaints
** *** *** ********** ** *****Customer Answer
Date: 01/06/2025
************
I was not informed of the 500 something dallies I told 207 witch I I tired to pay online and it would not let me then I proceeded to call and pay with the rep and the store. I then asked her to have her manger call me if there was anymore that needed to be paid and I did not received a call back l.
Then 4 days after that my car was towed with no notice that it was being towed. Plus all my belongings in my car as well. I had then nodice the next day revived a letter in the mail that they were going to sell my car 3 days after not business days and it was the weekend and because she did not ask her manager to call me like I ask I have to pay the tow fee of 1000 plus and more cause I had to drive down to ogdan were in Provo to get the car and belongs.
When I went in to pay the 1900 with my church president they would not take credit card. So I came in the next night to pay it and the same lady said she could not make the take the money and u had to come in the next day. I informed her I could not I had work or I would lose my job.
I then called on the way to work to take to manger and I fined him what happened he then said that she could have taken it just didn’t know how. Then I got to my job and they fired me for being late for taking with him. I have recorded message of there convo and the lies they told plus how she did not do her job. Witch cause me to lose my car and job.
Regards,
******* ****Business Response
Date: 01/16/2025
**************
Thank you for the opportunity to respond to the rebuttal referencing 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 requested a refund of the partial payments made on December 6, 2024, totaling $196.73. TitleMax (“the Company”) respectfully declines their refund request as the payments were properly applied to the past due balance of their loan.
Please note and as stated in the Notice of Our Plan to Sell the total amount necessary to redeem the vehicle is $5,636.17. A temporary hold has been placed on the sale of the vehicle; however, this hold is not indefinite. If the Complainant desires to redeem the vehicle, we encourage them to contact Customer Preservation at ###-###-#### regarding their repayment options as soon as possible.
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,
*** – Consumer Complaints
** *** *** ********** ** *****Initial Complaint
Date:12/23/2024
Type:Status:ResolvedMore 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 received a title loan for $7.000 I have paid them at least $21.000 or more and they still want more they told me I had to pay the interest and then the loan I have paid that and some I will not keep paying them more money this is so wrong for a business to get away with taking people moneyBusiness Response
Date: 12/27/2024
December 27,2024
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 they have paid the interest and their loan plus some and will not keep paying more money. They are requesting no further contact.
TitleMax of ***********, DBA TitleMax is a registered Texas Credit ********************* (CSO) and assists consumers in obtaining loans from willing, unaffiliated lenders. TitleMax services the loan but is not a lender in *****. TitleMax charges a CSO fee in the amount permitted by Texas law.
A review of TitleMax records revealed that on July 25, 2022,the Complainant obtained a loan with ******************* Partnership in the amount of $6,433.00 at a storefront in ***********, **. The Complainant granted a security interest in a 2015 Chevrolet Malibu with a VIN ending in ******. The loan was contracted to be repaid in full in the amount of $7,332.04, due August 26, 2022. On August 26, 2022, the Complainant made a payment of $899.04 and refinanced their existing loan of $6,433.00. The loan was contracted to be repaid in full in the amount of $7,332.04, due September 27, 2022.
Between September 27, 2022, and November 9, 2024, the Complainant refinanced their loan on twenty-three (23) more occasions. During the refinance that occurred on May 1, 2024, the lender was changed to First Star Financial, LLC, however the loan terms did not change. The current refinance was completed on November 9, 2024, in which the Complainant made a payment of $352.26 and refinanced their existing loan of $6,064.08. The loan was contracted to be repaid in full in the amount of $6,907.83, due December 9,2024.
Payment history on the most recent refinance indicates there have been no payments made on the loan. When the payment was not made on December 9, 2024, the account entered a past due status and collection activities commenced as permitted by law. As of the date of this response, the Complainants account currently has a past due balance of $7,286.84 but is subject to change due to interest and/or fees that may be accruing.
At the time of the loan origination and each refinance, the Complainant signed Loan Agreement, Promissory Note & Security Agreement as well as a Credit Services 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 agreements, the *********** acknowledged their understanding of the terms and conditions of the loans. Additionally, multiple refinances were completed by the Complainant using TitleMaxs online web application which allows the customer to move at their own pace to ensure full understanding of any and all documents presented to them prior to signing.
To address the Complainants concern regarding interest payments, as outlined in their signed loan agreement: Interest; Application of Payments; Prepayment: Interest will accrue daily on the outstanding principal balance. The interest rate is ******% per year. Interest accrues from the Loan Date until the Loan is paid in full. Interest accrues based on the number of days elapsed over a 365-day year [366 days in a leap year]. Lender calculates and charges interest, including interest on past due principal, under Chapter 302. 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 make all payments in full on the specified Payment Due Date(s). I will owe less interest to Lender if I prepay the Loan or pay early.If I pay Lender late or do not pay in full, I will owe more interest to Lender.I may prepay this Loan at any time without penalty.
Please note that the Complainant entered into thirty (30) day transactions with TitleMax each time they refinanced. Under a thirty (30) day transaction, the expectation is for the customer to pay in full on or before the expiration of the thirty (30) day term. Rather than paying the balance in full, however, the Complainant elected to pay any outstanding interest and fees, refinance the loan, and enter into a new transaction for an additional thirty (30) days on each occasion after that, thereby accruing additional charges. TitleMax encourages customers to use this product as a short-term financial solution. Paying more than the minimum payment due is also encouraged to help reduce the balance and interest fees. The balance may be paid back at any time with no penalty for early payoff.
We believe that the conditions of the loan were clearly disclosed and cannot find any evidence of wrongdoing. However, given the number of payments received, as a gesture of goodwill, TitleMax is willing to forgive the remaining outstanding balance of $7,284.97 and release the Complainants vehicle title. Please note TitleMax has honored the Complainants request for no contact so it is important that they initiate contact with the local store front at ************** by January 10, 2025 to make arrangements for a settlement agreement to be signed and the title returned.
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: 12/27/2024
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Better Business Bureau:
I accept the business's response to resolve this complaint.
Regards,
******* ******Initial Complaint
Date:12/20/2024
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 am filing this complaint because I am at wits end with this company. I did a title loan a little over a year ago and due to unforeseen circumstances my car was repossessed
1. I was still in the timeframe to make the payment and they still repoed my car even after speaking with one of their representatives who had an attitude
2. Since I have gotten back my car, my car hasn’t been working the same since I tried calling to speak with someone but they are so quick to transfer you and give you an attitude without even letting you finish speak. They over charge you I made a payment and I received a call the next day stating I had an pass due amount that I need to pay I was confused and I explained to the rep that called that I already made a payment and got confirmation so how did I end up with a pass due balance …
she then said well your account says it’s pass due and you need to make a payment because interest is added daily
I ended up paying because last thing I needed was for my car to be repoed by them again… again my car hasn’t worked the same since I got it back and unfortunately I am still making payments
I called trying figure out better payment options and again all I got was a rep with an attitude and speaks over you and doesn’t give you a chance to finish speak nor ask questions !
Business Response
Date: 12/26/2024
**************
Thank you for the opportunity to respond to the complaint filed by ****** ***** (Complainant). TMX Finance of Florida, INC DBA InstaLoan, 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 alleges their car was repossessed even though they were still within the timeframe to make a payment. They further allege their vehicle has not been working correctly since retrieving the vehicle. They also state they’ve been overcharged, had an unknown past due balance and received unpleasant service from the representative. They would like a cancellation of the account as they have paid more than the amount that was owed.
A review of InstaLoan records reveals that on September 20, 2023, a single pay loan was obtained in the principal amount financed of $2,797.55 at a storefront in Fort Lauderdale, FL. The Complainant granted a security interest in a 2008 Honda Accord with a VIN ending in ******. The loan was contracted to be repaid in full in the amount of $2,890.77 on October 20, 2023. On October 31, 2023, the Complainant made a payment of $356.04 and refinanced their existing loan of $2,574.75. The loan was contracted to be repaid in full in the amount of $2,884.08, due on December 1, 2023. After no payment was made on December 1, 2023, the account went into past due status. After continued nonpayment, on January 2, 2024, the vehicle was repossessed and a Notice to Sell was sent to the address listed on the account. On January 15, 2024, the Complainant made payment in the amount of $750.00, redeemed the vehicle and refinanced the loan.Between January 15, 2024, and November 17, 2024, the Complainant refinanced their loan on eleven (11) more occasions. The last refinance was completed on December 20, 2024, in which the Complainant made a payment of $114.17 and refinanced their loan for the remaining balance of $2,568.60. The loan is contracted to be repaid in full in the amount of $2,782.65 due on January 19, 2025.
Within the complaint, the Complainant states that they made the payment well within the time frame to make a payment. However, contrary to their claims, no payments or attempts to refinance were made between October 31, 2023, and January 15, 2024. In addition, InstaLoan attempted to contact the Complainant and discuss their loan and payment options but found communication difficult as it was often unable to reach them, and they rarely responded to entity correspondence. Accordingly, InstaLoan was left with no choice but to exercise its rights under the loan agreement and recover the vehicle. Contrary to their allegation, entity was within its rights to recover the vehicle on the date of recovery. Please note InstaLoan always views recovery of a vehicle as a last resort. Based on the above, InstaLoan was left with no choice but to exercise its rights under the loan agreement.
Regarding the Complainant allegation that their vehicle is not running the same since the repossession. It should be noted the damage that the Complainant alleges occurred when the vehicle was recovered by an unaffiliated third-party vendor, and not while it was in InstaLoan’s possession. As such, any recourse the Complainant may have will be with the recovery vendor.It is important to note that at the time of the loan origination and each refinance, the Complainant signed a Consumer Finance Loan 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. InstaLoan encourages customers to use this product as a short-term financial solution and whenever possible, pay off early to avoid accruing interest. The balance may be paid back at any time with no penalty for early payoff. The expectation is for the customer to pay in full on or before the expiration of the thirty (30) day loan term. However, rather than paying the balance in full, the Complainant elected to pay any outstanding interest and fees, refinance the loan and enter into a new agreement for an additional thirty (30) days on each occasion thereby accruing additional charges. Further to the point, Section 2. Interest; Application of Payments; Prepayment of the loan agreement states, in part:
Interest; Application of Payments; Lender does not charge interest on fees. Interest accrues from the Loan Date until the Loan is paid in full. 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, as permitted by Chapter 516 and applicable regulations. To the extent permitted by law, for purposes of determining Lender’s compliance with the law, Lender may calculate charges by amortizing, prorating, allocating and spreading. As permitted by Chapter 516, if two or more interest rates would apply to the Loan, Lender may apply a blended annual rate of interest to the outstanding balance which, if applied according to the actuarial method to each of the scheduled periodic balances of principal, would produce at maturity the same total amount of interest as would result from the application of the two or more rates otherwise permitted, assuming that scheduled payments are made as agreed. If any finance charge or other fee is held invalid, the remainder shall remain in effect. Lender applies payments first to assessed and unpaid fees, then to accrued and unpaid interest, and then to unpaid principal. The Payment Schedule and Finance Charge above assume I pay all amounts in full on the Payment Due Date. I will owe less interest if I prepay the Loan or pay early. 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
By signing the loan agreements, the Complainant acknowledged their understanding of the terms and conditions of the loans.
InstaLoan endeavors to assist our customers with all of their concerns and provide the best service possible. We sincerely apologize for the poor customer service and any frustration they may have experienced. We have forwarded the Complainant’s claim to the appropriate members of management.
As we believe that the conditions of the loan were clearly disclosed and cannot find any evidence of wrongdoing, compensation will not be accepted at this time. InstaLoan 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 InstaLoan at ###-###-#### regarding questions about their account.
We hope that we have fully addressed the complaint. Should the Complainant or the Consumer Financial Protection Bureau require further explanation, we may be reached at ****************************
Sincerely,
*** – Consumer Complaints
** *** *** ********** ** *****Customer Answer
Date: 01/17/2025
I am replying to a dispute I opened. Business name Instaloan/Titlemax some of the remarks they made aren’t true as far as how many months I owed for which led to repossession I only owe for December 2023 and some days In January 2024 because I had to come up with more than what I owe to obtain my car… they said something about my car not working to same since I got it back is not there fault or some to that effect because a third party was in possession of the car ! That third party is in association with them so that is not a valid excuse. I REJECT THEIR RESPONSE !!
Attached is a photo of my bank transaction that coincides with what I have written … highlighted is a payment made for a month that was stated that I owed forI would like to get this issue resolved especially what the impound did to my car I paid over a $1200 in fixtures plus labor… hoping to get this issue resolved.. I’ve paid more than enough to this company … once we get this resolved we don’t ever have to deal with each other again because I will never go back here !
Business Response
Date: 01/23/2025
******************
Thank you for the opportunity to respond to the rebuttal referencing the complaint filed by ****** ***** (Complainant). TMX Finance of Florida, INC DBA InstaLoan, 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 are rejecting our initial response due inaccurate remarks.
InstaLoan reiterates the statements provided in the previous response. The Complainant states that they made the payment well within the time frame to make a payment and provided a photo of their bank transaction. However, according to InstaLoan records and contrary to their claims, no payments or attempts to refinance were made between October 31, 2023, and January 15, 2024. InstaLoan was within their rights to recover the vehicle on January 2, 2024. Regarding the alleged damage to the vehicle, the Complainant will need to contact the unaffiliated third-party vendor, ********* **** ******* at ###-###-#### and file a claim.
We hope that we have fully addressed the complaint. Should the Complainant or the Better Business Bureau require further explanation, we may be reached at ****************************
Sincerely,
*** – Consumer Complaints
** *** *** ********** ** *****Customer Answer
Date: 01/23/2025
why should I have to contact insurance auto auction I had have no business with them insta loan does I didn’t make any payments to them nor was I in contact with them about my car everything went through insta loan all I did was pick my car up from ********* auto ******** auction lot insta loan needs to resolve this !
Regards,
****** *****Initial Complaint
Date:12/17/2024
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.
Greetings, my name is ****** *******
I have a car title loan out with the company "Title Max". I have been a customer with them for years. I have also paid them every month. However, I have switched jobs and in between payments at the moment. Therefore, my check was only 500 dollars, which is 168 dollars less than my payment owed for the month.
I have explained to them that I could make a partial payment or the full payment at the end of the month which is December 30, 2024. (Which will still by the way be in the same month). I was told that they would not work with me regardless of if a situation is out of my control or not. They also told me that my car would be at risk to get picked up even if I make a partial payment.
I was told that I could not extend a due date when I made them aware of the situation weeks ago. However, I spoke to another employer at the store who told me that I could have had my due date extended if I were to refinance my account. I was told that they had no record of discussing that with me.
I have contacted customer service, which they told me the same information in which the individuals at the store location did and they would file a complaint on my behalf. Although I am aware that every company has policies, there should be grace given to customers of long periods, especially if a situation is out of their control, the payment will still be made within the same month of when its due, if false information was given over the phone, and the situation could be handled better.
Now, I am emotionally stressed and am having anxiety from the thought of my car possibly being picked up, my special needs children and myself not being able to have transportation for school, work, doctor's appointments, and a risk of losing my new job that I've worked very hard to get.
I hope that the company would have some sort of integrity, grace, and virtue for customers such as myself.
Business Response
Date: 12/23/2024
*******************
Thank you for the opportunity to respond to the complaint filed by ****** ****** (Complainant). TitleMax of Texas, 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 started a new job and were told by the store location they could not do an extension on their payment to the end of December even though they were told by customer service that they could do an extension by completing a refinance. They feel they were given false information the first time and request an extension to December 30, 2024, to avoid their vehicle being picked up.
TitleMax of Texas, Inc., DBA TitleMax is a registered Texas Credit Services Organization (“CSO”) and assists consumers in obtaining loans from willing, unaffiliated lenders. TitleMax services the loan but is not a lender in Texas. TitleMax charges a CSO fee in the amount permitted by Texas law.
A review of TitleMax records revealed that on June 24, 2024, the Complainant obtained a loan with First Star Financial, LLC, in the amount of $1,033.00 at a storefront in Houston, TX. The Complainant granted a security interest in a 2009 Lexus RX 350 with a VIN ending in ******. The loan was contracted to repaid in a total of five (5) payments due monthly beginning July 27, 2024, with the first payment being $201.83, the following three (3) payments in the amount of $188.04, and a final payment of $1,264.93, which represents the final CSO fee along with the principal and interest to the lender, due November 27, 2024. On June 24, 2024, the Complainant refinanced their existing loan of $1,033.00, borrowing an additional $700.00. The loan was contracted to be repaid in full in the amount of $2.063.15, on July 27, 2024. Please note at the time of this refinance, the loan product was changed to a 30-day model.
Between June 30, 2024, and October 15, 2024, the Complainant refinanced their loan on five (5) more occasions, borrowing an additional $2,586.00 total. The current refinance was completed on October 15, 2024, in which the Complainant made a payment of $577.29 and refinanced their existing loan of $3,963.02, borrowing an additional $336.00. The loan product changed once more to a 150-day model. The loan was contracted to be repaid in a total of five (5) payments due monthly beginning November 16, 2024, with the first payment being $723.63, the following three (3) payments in the amount of $678.38, and a final payment of $5,155.50, which represents the final CSO fee along with the principal and interest to the lender, due March 16, 2025.
Payment history on the most recent refinance indicates there has been one (1) payment made on the loan. When the payment was not made on December 16, 2024, the account entered a past due status. As of the date of this response, the Complainant’s account currently has a past due balance of $678.38 but is subject to change due to interest and/or fees that may be accruing.
At the time of the loan origination and each refinance, the Complainant signed a Loan Agreement, Promissory Note & Security Agreement that clearly discloses clearly discloses the annual percentage rate in accordance with the Federal Truth-in-Lending Act and Regulation Z.
By signing the loan agreement, the Complainant acknowledged their understanding of the terms and the conditions of the loans.
To address the Complainant’s request for an extension, please note that prior to signing the agreement, TitleMax not only advised the Complainant of the terms and conditions of the agreement, but they were also given the opportunity to examine the agreement and its contents and provided with electronic access to copies of the loan documents. Further to the point, by signing the agreement, the Complainant agreed to make the payment amounts and due dates as outlined in the document. The Complainant would first need to pay the past due amount, and any interest accrued in order to refinance 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. We encourage the Complainant to call Customer Service at ###-###-#### with any other questions regarding their loan.
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,
*** – Consumer Complaints
** *** *** ********** ** *****Initial Complaint
Date:12/14/2024
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 do not have an account/loan with titlemax yet was charged $3000 and want it backBusiness Response
Date: 12/18/2024
December 18,2024
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, 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 do not have an account with TitleMax,but they were charged $3,000.00. They are requesting a refund.
Based on the Complainants information provided within the Better Business Bureau complaint, we are unable to identify a customer account with TitleMax without obtaining further identifying information. If the Complainant believes they have an account with TitleMax, they are encouraged to contact TitleMax directly at ************** to provide further identification so that any existing account may be located, and an appropriate investigation can be conducted.
To resolve the issue of the unauthorized transaction, we urge the Complainant to initiate a dispute with their bank for the pending amount of $3,000.00.
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:12/12/2024
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.
Upon attempting to conduct business with titlemax representative who identified herself as "***" She collected my documents and went to the back to make copies which turned into her arguing on her cell phone and carrying on redneck antics, when I let her know I was here to conduct private business I did not want to discuss confidential finances or credit score or my documents with whoever she was on the phone with she became irate, threatened physical violence, I asked for my original documents back and she hesitated, but provided but refuse to return my copies. The next day I am getting alerts from credit karma that multiple store accounts had been applied to in my name from the day prior, that majority from ******* outlet stores located near this titlemax. I did not apply to multiple store cards I believe the unprofessional employee intentionally created accounts and submitted hard inquiries to bring my credit score down. Multiple calls to the store have been disconnected from ***, not allowing me to seek resolution from management.Business Response
Date: 12/18/2024
December 18, 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,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 expressed concerns regarding privacy when store personnel used their phone while making copies of personal documents. The *********** alleged store personnel threatened physical violence when they asked for the documents to be returned. The Complainant further purports multiple credit inquiries have occurred at stores located in close proximity of the TitleMax.
Based on the information provided, there is not enough information to thoroughly investigate the Complainants allegations. Therefore, the Complainant is encouraged to submit and evidence of the credit inquiries along with the location of the alleged incident to ************************************. Upon receipt of the additional information, the company will investigate their claims.
Should the Better Business Bureau require further explanation, we may be reached at ************************************.
Sincerely,
BSG Consumer Complaints
PO Box 550
*******************Initial Complaint
Date:12/09/2024
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.
On December 3 i paud ONE payment to Title Max which i do EVERY month on the 3rd. I was charged Two payments of 358.51 INSTEAD of one! They will NOT credit mt account one payment. I never pay 2 at a time. Lots of excuses..the ITT wont ket the nanager!!! Called tge nain office. They ALWAYS put it back on the local store. Thus IS AL OBVIOUS HARDSHIP FIR ME AND CLEARLY WRONG. I AM 72 YES OLDBusiness Response
Date: 12/17/2024
***************
Thank you for the opportunity to respond to the complaint filed by ********* ****** (Complainant). TMX Finance of Tennessee, 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 only make one payment each month, but a double payment was taken. They want a refund back on one of the payments.
A review of TitleMax records revealed that on September 19, 2018, the Complainant obtained a line of credit with a credit limit of $1,850.00 at a storefront in Cookeville, TN, with an initial advance of $250.00. The Complainant granted a security interest in a 1999 Toyota Camry with a VIN ending in ******. The first payment of $78.43 was due on October 20, 2018, and a second payment of $195.31 was due on November 20, 2018. Both payments were honored.
At origination, the Complainant acknowledged the terms and conditions of the loan by signing the Line of Credit Account Motor Vehicle Pledge and Security Agreement. The agreement clearly discloses the interest rate in accordance with the Federal Truth in Lending Act and Regulation.
In response to the double payment, please note that the partial amount of $55.34 from the first payment and $59.99 from the second payment were applied directly to the Complainant’s principal balance, resulting in an available credit. Unfortunately, we are unable to void, refund, or reverse the payment as there has been a draw of $115.61 on the account after the duplicate payment was made.
TitleMax believes that the conditions of the loan were clearly disclosed and finds no discrepancy or concern in how the transactions were processed. We encourage the Complainant to contact their local TitleMax store at ###-###-#### with any other questions regarding 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,
*** – Consumer Complaints
** *** *** ********** ** *****Customer Answer
Date: 12/19/2024
I Specifically Told th3m immediately it was a mistake Have Never paid 2 s7ch large payment at once in 5 yrs!! THEY SHOULD AND WILP BE SHUT DOWN BY ***** FOR THIS TYPE OF PREDATORY LENDING AND REFUSAL TO LISTEN TO A CLEAR MISTAKE IMMEDIATELY
Regards,
********* ******
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