Consumer complaint received 2023-05-10
Company: TMX Finance LLC
State: NV
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Vehicle was repossessed or sold the vehicle

Complaint:
Title Max title loan dispute complaint and possible court case.

On XXXX XXXX XXXX I was going out to my car to go spend time with my daughter and granddaughter. When I went outside Iiimediately noticed my car was gone I was quite upset because I couldnt believe that Title Max had actually taken my car. So I will tell you about the loan on XX/XX/XXXX. I went to Title Max to get a loan. I told the loan agent that I only wanted to borrow XXXXXXXX  to pay my car insurance and that I couldnt afford to make payments that were above XXXXXXXX    a month. I also told him that my credit was very bad and they were probably not likely to approve me for a loan. I dont know why he tried to get as much as possible or as much is XXXX   for me to be approved to borrow .  I dont know.  I didnt ask him to do that,. possibly because he had went out and took a look at my car and started it up and so I guess he thought he could get as much as XXXX approved   When I took the loan out I fully had every intention of paying the loan back. I did not plan on losing my car, in fact, I used part of the loan to make the first two payments to Title Max for a total of XXXX .  I also I dont feel like they were honest about figuring out my ability to be repay the loan.  Isnt that the law ?  So based only on my income (and that was the only document t; that I provided and that was asked for) I showed him my Social Security benefit letter, saying how much I get each month .  Social Security is my only income and it also states that I am XXXX  so he knew that this was my only income and the only other thing he asked me was how much my rent was which I told them it was XXXXXXXX  .  Everything I told him was the truth.  anyway when he said I was approved for XXXX  Ii told hime I didnt want to borrow that much.  He proceeded to tell me a little story about some people who came in to get a loan and they didnt borrow the full amount they were approved for and then the next week they called back and wanted to borrow the rest of what they were approved for and that he had to tell them to do it. They would have to start the whole process over again and see what happened and  they might not even get approved . he was trying to talk me into borrowing a bigger amountt than I requested or wanted.  To me that seems very predatory. So I thought well if Im going to give up my car title then I might as well take whatever they give me ( i knew I couldnt get credit any other way) . I knew I could hang onto some of the cash to make the first two payments (XXXX   and XXXX) and then my plan was in XXXX. I was supposed to move in with my daughter and that would lower my monthly expenses of rent utilities down to XXXXXXXX  a month which wouldve allowed me to make the payments to Title Max I did not commit fraud. I fully intended to pay the loan back; to repay the loan. My daughter changed her mind about me moving in and then in XXXX I had no choice but to start paying the XXXX dollars a month that my apartments had raised my rent to.
so there was no way I could make the XXXX payments each month and still be able to pay my rent and my bills and my medical costs .  There was just no way.  so in XXXX I mailed title max a letter explaining the situation and saying that I couldnt afford XXXX payment . they didnt respond so then I looked through the contract and I wanted to go about it right so I sent them the dispute letter (as it tells to do in the contract ) and they didnt respond for quite a long long time and when they did, they argued it with me in the letter and they didnt offer arbitration or anything,.  I just didnt know what to do. During this time I had been in contact with XXXX XXXX XXXX, and I was attempting to get help in knowing what to do but they decided not to help me. I called XXXX XXXX XXXX and they said they couldnt help me. I didnt know what to do!
Then on XXXX XXXX I received a text from Title Max saying we have a great offer for you for a repayment plan. It said call this number or text  yes to get more info or something. I still have the texts so I replied yes and very next day they just came and took the car, I am a XXXXXXXX XXXX XXXX XXXX , and a XXXXXXXX  Patient and XXXX XXXX XXXX and XXXX XXXXXXXX XXXX and I seriously feel like I was really treated wrongly. I feel like TitleMax is allowed to continue to break the laws and they use decpeptive and unfair business methods.  basically I dont understand the laws Im trying to read them and I thought there was things that Title Max was doing wrong that they shouldve done differently.  like they shouldve analyzed my ability to repay ; but they didnt and they also said my credit score was XXXX  but it isnt so it never has been. Its XXXX so they lied about that, they didnt ask me about any of my other bills or my medical expenses or anything they didnt ask to see i 
 
Bank statements or any utility bills or anything like that so I dont see how they fulfilled that part  of the NRS and federal legal lending laws. also when we were going through the contract or whatever I didnt have the paper pages in front of me,  he didnt print out the contract for me to see it. I was just listening to him and signing my name on this little electronic pad so I dont think Ive ever actually signed a piece of paper. He didnt give me the printed contract until after it was all over with as I was leaving so I didnt even know I was signing an affidavit of ability to repay and I didnt understand the contract, and it wasnt very well explained to me and I feel it is actually very deceptive and predatory and aside from that my understanding was that the payments werent supposed to be more than 25% of my income and I attempted to state this to them and i  also told them that my car should be exempt from lien or judgment because of the Social Security act and but that I still intended to repay the loan, I just was trying to get them not to come and get my car .  they did anyway .and then the repayment plan they offered me. Seemed wrong.  i was under the impression that ithe terms were supposed to be at a lower interest-rate . so on Friday the XXXX they took my car without any kind of notice or warning. Then yesterday I received a letter in the mail and now theyre adding all sorts of fees and saying that ii owe the original amount plus much more to get my car back.  I dont think it was right for them to be able to take my car at all, IIjust feel like there was no Consumer projection, and there should be protection against that kind of business that takes advantage of people and that doesnt follow the law or fairness or integrity in lending and I cant believe they came and got my girl I already re paid them almost XXXX of the XXXX that I had borrowed .  the car has XXXXXXXX miles. And needs work. And the letter stated if they dont get enough from the sale of my car that i still will owe them

I also have been going through some very serious health problems that negatively affect my daily life and my mood and my abilities-  the financial stress is making me weaker and sicker .  I feel disrespected and taken advantage of.  I feel discriminated against for my XXXX and my age

Noone seems concerned about low income, XXXXXXXX XXXX XXXX.especially in Nevada

Company response to consumer: Closed with explanation