Consumer complaint received 2023-05-25
Company: TMX Finance LLC
State: TX
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Struggling to pay your loan

Complaint:
I was being contacted by Title Max in XXXX of XXXX via text message. I was enduring some hardship at the time and trying to repair my credit. I gave the company a call and they wanted to run my credit. I politely declined and told them that I didn't want to have my credit ran as it would drop my score that I was working towards repairing. Later on I received another call from Title Max with someone telling me I didn't need to give them my social or have my credit ran. I live over an hour away from the store and I was told that if I had the title with me I could bring it to them and they would give me {$10000.00}. We were greeted with crayons and coloring pages for my son and offered refreshments. Such a nice experience or so it seemed. I was told that if I didn't spend it that I could return it and back out in 30 days. Just give the {$10000.00} back and get my title back. When I advised that I would return it I was told that I would have to also pay {$1400.00} additional even though I didn't spend the {$10000.00}. I was very upset and didn't understand how I would be able to pay this off. How does anyone pay off such a short term loan when the APR is 169.29 %? I was talked into just paying the {$1400.00} XXXX. I was never told that it was {$1400.00} a month and nothing goes towards the {$10000.00} payment. Then I was told to come in XXXX and resign. No biggie they told me. They should have explained that it wasn't a yearly APR of 169.29 % over a year and that the {$1400.00} fee was actually monthly and not over a year span of time. They said they would work with me and that the holidays were right around the corner and I would need the money for my Son and for us to live off of since at the time I was considered a Homeless Veteran. We were traveling back and forth for medical care several hours away and living in Hotels while trying to get assistance and help turning a small building into a tiny home. The following payment that was due was very hard for me to make. Although I did. The third payment I was told they were going to repossess our car and that since I was not in Texas they could not take my payment. I was told that I could talk to my bank and see if they would buy the loan. The same bank where I make the payments to on the car. The bank advised me that it was not legal for them to give me the loan if I make payments on the vehicle and that I should reach out to JAG at the VA. I relayed this to TitleMax and the lady explained that it was definitely illegal for them to give me the loan and that she would reach out to her supervisor and then to their Legal Team. I was advised to wait for their Legal team to contact me. I kept getting texts and I called Titlemax each time and they told me to just keep waiting. I got a call I believe in XXXX with a lady yelling at me and telling me they were looking for my car and going to take it. She said they found out I was not on XXXX XXXX and I owe them the money. No where did I ever say I was on XXXX XXXX. I am a XXXX veteran. They know this because the guy initially wanted to see and make a copy of my award letter in order for me to get the loan. All calls ceased and I called the store many times and was told to wait for legal to call me as I was told before. In XXXX I got a call from a new supervisor at Title Max who asked that I explain everything to him. I did and he was going to be getting back in touch with me. He did not. In XX/XX/XXXX a lady from Title Max Collection Department called and I was asked what my intentions were and I stated that I did borrow the money and I intended to pay it back. Although I wasn't able to speak about the situation at the moment and she said fine, they are coming to get the car. I explained that we were having to live in our car at times and all of my valuable posessions and personal and private paperwork and documents were in there and that the car is specific to meet my XXXX needs. She told me they owned the car and they were coming to get it and that we couldn't live in it forever and as soon as we get out of it that they would come and get it. On XX/XX/XXXX the people came to repossess my car and I refused to let them take it. I literally begged them in complete fear and shame while my Son had to watch all of this and they had me call Title Max and and try and work a plan out with them. Title Max would not and the guys were advised to take my car. They asked that I please keep my word and figure out how to pay Title Max to prevent the loss of my car. Strangely, the gentleman were very nice and they made the decision to leave and Blessed us in our situation. I spoke to Title Max Corporate Resolution department on Friday XX/XX/XXXX and was given an option of paying {$4000.00} on Monday XXXX, XXXX, XXXX and then {$2000.00} on XX/XX/XXXX and then {$2000.00} on XX/XX/XXXX and then {$2000.00} on XX/XX/XXXX and I could have my title back. My Mother lent me the {$4000.00} to pat them on XX/XX/XXXX and on XX/XX/XXXX they wanted a payment of {$3000.00} and {$3000.00} XXXX and then {$2300.00} XXXX. This was not the agreement we had and I was very upset. The representative explained she did not tell me {$2000.00} that she told me {$3000.00}. When I explained to her that my calls are recorded she then stated that she must have made a mistake and that she was only human and she apologized. She would have her supervisor call me. Later in the day on XX/XX/XXXX after I made the arranged {$2000.00} payment the supervisor called me and said this was a mistake and they will take increments of {$2000.00} and they will just have me pay another {$2000.00} in XXXX. She said they can make deals but not like that even though the original TM store got over {$3000.00} from me, she stated that it was not towards the loan. Only a promise to pay to the store and that I owed {$12000.00} when the loan went to them at collections and that's what they intended to collect from me. She disregarded the recorded conversation by saying that there was never a deal made and I stated ( which there was ) and had no sympathy or care in the world about anything except collecting my money and my car. Fear is what they have instilled in my son and I. Crayons and refreshments in the beginning and tow trucks and tears in the end! I can't pay my bills as a result of this mess. I am a XXXX XXXX XXXXXXXX Veteran with XXXX  XXXX and XXXX and I can't believe I was suckered into taking that loan in a time of desperation. I never gave them my social security number but now when they speak to me they insist I give it to them. What a bad company to so greedily take the money of people that have worked so hard to try and get ahead in life just to offer so kindly and then try and take their transportation away from them.

Company response to consumer: Closed with explanation