Consumer complaint received 2023-10-27
Company: Select Management Resources, LLC
State: IL
Product: Payday loan, title loan, personal loan, or advance loan
Sub-product: Title loan
Issue: Struggling to pay your loan

Complaint:
I am writing to express my concerns about potential violations of consumer protection regulations by XXXX XXXX XXXX, a title loan company operating in Wisconsin. I am also seeking protection due, the company insensitivity to my hardship and I believe I am being taking advantage of due my novice information on how this industry operate. 
Based on information I have gathered, I believe there may be instances where XXXX XXXX XXXX is not fully compliant with the rules and regulations governing the title loan industry, and this could be detrimental to the welfare of consumers. 
Specifically, my concerns are in line with the common violations associated with title loan companies that have been documented in the past. These concerns include : High Interest Rates : XXXX XXXX XXXX appears to charge extremely high interest rates, which could result in financial hardship for borrowers. 
Misleading Advertising : There may be instances where XXXX XXXX XXXX engages in misleading or deceptive advertising practices to lure borrowers into loans with unfavorable terms. 
Unfair Repossession Practices : Reports suggest that XXXX XXXX XXXX might engage in aggressive or unfair repossession practices. 
Hidden Fees and Charges : Concerns have been raised about hidden fees or charges within XXXX XXXX XXXX 's loan agreements. 
Lack of Transparency : There may be instances where XXXX XXXX XXXX fails to provide clear and comprehensive information about loan terms to borrowers. 
Targeting Vulnerable Populations : Concerns exist about XXXX XXXX XXXX targeting vulnerable individuals who may be in financial distress. 
Potential Violation of State Regulations : There could be instances where XXXX XXXX XXXX operates in violation of state-specific regulations governing title loans. 
Inadequate Loan Assessment : Reports indicate that XXXX XXXX XXXX XXXX not adequately assess borrowers ' ability to repay loans. 
Harassment and Collection Practices : There are concerns about aggressive and harassing debt collection practices employed by XXXX XXXX XXXX. 
I believe it is crucial for the Consumer Financial Protection Bureau to investigate these concerns and ensure that XXXX XXXX  XXXX complies with all applicable consumer protection laws and regulations. Protecting consumers from predatory lending practices is paramount, and acting against any violations is essential to uphold consumer rights. 
I kindly request that the Consumer Financial Protection Bureau conducts a thorough investigation into XXXX XXXX XXXXXXXX 's operations in Wisconsin, and if any violations are found, takes appropriate measures to rectify the situation and protect the interests of consumers. 
Thank you for your attention to this matter. I trust in the Consumer Financial Protection Bureau 's commitment to safeguarding consumer rights, and I hope for a swift and effective resolution to these concerns.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with non-monetary relief