Consumer complaint received 2020-03-03
Company: TMX Finance LLC
State: NJ
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Charged fees or interest you didn't expect

Complaint:
I was a victim of predatory lending and illegal collection actions for a loan they shouldnt have given me in the first place. No one asked for pay stubs and said I didnt need to provide them. They gave me more money but raised the interest rate astronomical! I got an attorney who emailed and called them at the corporate office and to the local office repeatedly and no one would return his calls/emails. When I called the person from Title Max at their direct number on their email I received a tone that the number is invalid. My attorney spoke to the manager at the local branch where I obtained the loan and the manager told him he would be willing to work out a settlement but I had to make 2 payments first. I made those payments immediately, but then Title Max refused to take or return my attorney 's calls. I am constantly being harrassed by Title Max calling daily, sometimes multiple times per day. I spoked to " XXXX '' who kept leaving me messages and advised her the manager knows I have an attorney and he spoke to him, so she shouldnt be calling me. She told me it doesnt matter that I have an attorney and she will keep calling regardless! I know someone who used to be a manager at TitleMax and the stories she tells me about the shady practices the have are scary. She has had to wrote off so many loans because of mistakes they make catching up to them, such as not getting paystubs to see if the borrower qualifies by lending money. She also advised that not the repo man, but people working at a desk will arrange to have someone's car picked up and they will flip the title into their name to keep vehicles for themselves or will sell it quickly! This is theft and beyond mindblowing that they do this! As I said, as a manager, she was witness to this happening and the process of it changing owners on the title happens really quick. If they do this to me I will never see my car again! The corporate office refused to return my attorney 's calls and emails even after he advised their legal deparement that he needs a response because he had serious concerns with their collection and predatory lending practices. He has been in touch with the US Attorney General and will file an action against them if they don't respond. Still, to date no response from Title Max. This has been going on since XXXX. Given the fact that I have already paid several thousands of dollars in interest above and beyond the original loan amount on a loan they never even required paystubs to see if I qualified for, the radiculous interest rate I was given, the harrassing phone calls that I constantly receive even though they know I have an attorney they have emails and letter of representation from, shady practices they do and any number of reasons I can name, I feel they should cut their losses, void the loan and return my title to avoid litigation. As I mentioned, my attorney has been in contact with the US attorney General regarding filing an action against Title Max. We don't want to do that, but we may have no other choice if he can not get a response from them. I am filing a complaint with the XXXX  simultaneously and FTC as well.

Company response to consumer: Closed with explanation