Consumer complaint received 2022-03-01
Company: TMX Finance LLC
State: TX
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Charged fees or interest you didn't expect

Complaint:
I took out a {$3000.00} title loan on XX/XX/2020, the SAME DAY I added another {$1000.00} because I was short on what I needed after paying my title transfer, the car is new and adding them as a lien. So I asked them what the interest was and they said a total of {$640.00} so I said thats really but I have to so thats fine. I went to repay it right at the 30 day mark but had another issue I need to pay for so I said I would pay late and be in a few days. They said I could JUST PAY THE INTEREST on it and it would be ok. I was NEVER told I was paying a monthly fee or renewing the loan. They then said I could take more money out and use that to pay the interest. I said I would do {$1000.00} and that is it so it could be repaid in a few days. The girl then wrote on a blue sticky note that If I took out {$3500.00} instead of {$1000.00} the interest would only go up {$12.00} so I asked them what is the TOTAL interest, they said {$940.00} and I then asked does that include the {$640.00} XXXX paid already in interest they said yes. I asked AGAIN what the total was she said {$940.00}. They did NOT show me any interest charts, they did NOT show me the contract at all. Not in the begging or this time. So I agreed because I figured to have the other {$3500.00} was ok and I was repaying it in a few days so no big deal. They then asked for my ssn and bday, the girl was typing on her screen and I saw NOTHING. I asked why they asked for that again when I was just adding to the existing loan. She said its just the application and it has to be redone. I figured ok its an appllication I am signing without seeing it NOT A CONTRACT!! I was not told I signed a contract, had they said that I would have not signed a thing until I read it. I was not given a contract or the interest break down sheet, NOTHING. I asked again what the total was and she said {$940.00} and I said so the {$640.00} is included she said yes. I never got to see the contract before signing it. I asked for the contract at the start and I was told to make an online account and I can see it there. She did not show me anything BEFORE I signed anything. I then set up the account and I called her and asked why there was an extra {$840.00} on it and if that was a mistake they didn't credit the {$640.00}. She then said oh thats per month!! I said no you never said that, had you of and had you shown me the contract I would NOT have borrowed at all. She said oh well maybe I got confused. I said no you did not. I asked you several times what the TOTAL interest was and you said {$940.00} so I just believed her. I then said I would not pay the extra interest as that is not what was told to me and I was never shown what it REALLY was. I said I did not agree to monthly payments it was a short loan for a few days. All I did was extend it a few days and add the {$3500.00} you originally told me I was ALREADY approved for so why would I pay extra on an existing loan. She then said she was sorry I got confused! I said I was not confused you told me an amount, you did NOT show me the contract or the interest break down. All you did was write on a blue sticky the TOTAL amount which you said was {$12.00} more for the {$3500.00} instead of {$1000.00}. She said sorry its monthly. I did NOT agree to that. So I went online to pay it and it had another several hundred dollars on it! I tried to just pay principle as she said you can jsut make a payment or pay it off online. When I went to do that it said on the payment screen that I would be making the payment AND renewing the loan again! I called again and said I am not renewing anything I just want to pay the amount I borrowed and when you fix the interest and deduct the {$640.00} I already paid then I will pay that. The customer service person and chat person said they cant do that! So now it has me owing another {$1300.00} in interest I never agreed to and I cant just pay off what I should have owed of {$7500.00} and the extra {$300.00} in interest she lured and deceived me to think it was. I also could not access the contract for over a week online and they dont give it in the store though I asked for it! Had they told told the truth the interest was monthly I would not have done that. Had they showed me the contract BEFORE I signed it instead of them doing it behind their desk and then scrolling to the signature page to sign IA would not have ever borrowed anything! I told them BEFORE I signed I did not want to pay alot in interest and not at anytime did they say its monthly, or that I couldnt pay online without renewing it every time. NEVER WAS I TOLD A THING about it and was not given any break downs or contracts. They lied to me, deceived me, lured me into taking more money by deception on the interest and did not show me the contract or interest BEFORE it was ever signed! They are also charging monthly interest and late fees when I tried paying it but couldn't because of their lies! They did it on purpose, they KNEW I did not agree to more than a total of {$940.00}, they KNEW what I was asking them and purposely caused me harm and financial duress because of their deceptive, predatory lending practices. I never signed a contract. One was NEVER given to me and when I looked online it has no signature from me on it a contract. I never agreed to that contract and was never given the chance to look at it. I was told it was just an application when I asked several times. So I am not going to be bound to that contract and I also NEVER would have agreed to waive my rights to sue din any way. This contract is written to take advantage of people and its entrapment on top of fraud, preditory lending, deceptive practices that lure people to borrow more than they said they needed and deceptive practices in how they obtain customer signatures with zero review of the contract or application they lie it is.

Company response to consumer: Closed with explanation