Consumer complaint received 2017-11-15
Company: Select Management Resources, LLC
State: IN
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Struggling to pay your loan

Complaint:
Hello, I will keep this short and sweet. XXXX XXXX in XXXX XXXX is where I unfortunately had to take out a loan. There was an emergency and I had no other option. I asked for {$2000.00} but really needed {$2500.00}. I was given {$2500.00} to my surprise. Now XXXX is who I worked with and she was acting so weird towards me that she made me uncomfortable, like she was nervous about me being XXXX. Sometimes, you can just tell. I even had to ask her if the area was friendly because I needed gas and she said " Before dark '' ... Really?! Anyway, she told me about the repayment plan. She wants me to pay {$640.00} per month for 2 years so by the end I would have paid back over {$15000.00}!! The interest is 304 % which I believe is illegal in XXXX  according to the lending laws. I live in XXXX and I know that XXXX  has been trying to implement new laws that prevent XXXX from advertising to its residents, luring them over the state lines and then charging outrageous and unethical amounts of interest but using XXXX  to do their dirty work. They use XXXX tow trucks for repos and XXXX  auctions to sell the cars for them and they get the money for it ... smh. Well I had no choice. But since then I separated from my job through no fault of my own. Federal organizations are involved to seek justice for me. So I have no income to make any payments. This is COMPLETELY unexpected. I am kinda freakin out because I have several job leads and I will definitely need my car to get to the jobs. Plus, I have some XXXX XXXX and the shock and stress of potentially losing my car to those sharks is harming me physically. I have been in the XXXX XXXX XXXX XXXX in bed XXXX Now, I am not saying that I wo n't ever pay them, but I did explain this to their corporate manager, a nasty, rude man named XXXX XXXX I offered a compromise. It 's almost tax season, I 'll be getting my tax refund in less than 90 days which will FLY by and I am willing to pay a settlement of a reasonable {$2800.00}. I think that is more than fair. BUT, here 's the kicker that may prove the contract null and void. According to the XXXX laws, they can not charge me more than 36 % of my monthly income. I wondered how in the world they came up with {$640.00}, then I realized that XXXX manipulated the numbers. I was asked if I worked 40 hrs/week. I put down 40 on the app but explained that it is not a guaranteed 40. I had my paystubs with me that would prove this and asked if she wanted to see them and she declined. Hmm weird. To get a monthly payment of {$640.00} I would have to make $ XXXX. 36 % of that is {$640.00}. According to my paystubs I definitely did n't make that. It 's actually closer to {$1400.00} which would make my payments $ XXXX which is a reasonable amount. But since she was demanding {$640.00} from {$1400.00}, she was demanding 62 % of my monthly income which in NO way, shape or form is legal. She guestimated that if I worked a full 40 work week and brought home an even $ XXXX she could charge me $ XXXX. THAT is sooooo not the case. She lied on the documents to get me approved for a loan I clearly should n't have qualified for. No one in their right mind would grant me a {$2500.00} loan on a monthly salary of {$1400.00}. They are sharks. Horrible people who pay their bills by preying upon low income minorities like myself. The whole system is a sham and they should be put out of business. They have SOOOOO many complaints on them including the BBB. Honestly based on this info our contract is void and they need to return my title asap. They forced me to sign an arbitration document so I ca n't take them to court, then XXXX claimed I signed a Privacy agreement stating that they did not have to disclose their business practice policies to me. Umm where is it because I do n't have that document. Please see this from my point of view. They set me up for failure from the jump. XXXX was so rude to me on the phone and XXXX so off-putting that I believe they have issues with minorities and deliberately trapped me because of their own prejudices which is also illegal. They want me to pay them $ XXXX for 2 yrs on a car that I own with a value of only {$1100.00} ... XXXXThe Fraud! Please get me out of this. My only two options I am willing to agree to is A ) They accept my {$2800.00} offer that I will pay with my tax refund or B ) The contract be voided out due to their breach of overcharge and XXXX discrimination. They are going to try and deny all of this because that 's what they do, they are professional liars. Therefore, I want NO contact with XXXXt at all. All communication can be through your office. Thank you!

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