Consumer complaint received 2018-01-19
Company: TMX Finance LLC
State: FL
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Vehicle was repossessed or sold the vehicle

Complaint:
XXXX have me a car title loan and had me sign a contract agreeing on monthly payments. When it came close to making my 1st payment I pulled out my paperwork and the paper I signed regarding the payment plan was n't there, instead there was a paper saying I owed the entire loan amount exactly 30 days after I received the loan. The contract also states they would be charging me 42.55 % APR when the maximum allowed in Florida is 30 %. When I called to inquire the woman who answered was very rude and said I had to pay the whole thing and they would n't accept payments. I told her I had to wait on my financial aid disbursement from school to pay it all and it would be a couple of months and to please make a note on my account. On XX/XX/XXXX ( 3 weeks before my school reimbursement came in ) at XXXX at night a tow company showed up and repossessed my car ( Florida state law says they have to notify me of intent to repo ). Along with these violations here are other laws that were broken : * 655.005 - They have no surety bond. Each lender that works there must have sent Office of Financial Regulation an application, investigation fee, application fee. 10 % owner, director General partner and executive officer has to be licensed, submit finger print card & submit biographical summary. Owner must have " Class of Securites '' required to file reports.

* 537.006- Did not notify me of intent to repo. Charged 42.55 % APR. Forced me to purchase insurance through them ( I already had insurance ). The distance away the car was towed and stored. Lying to me about ability to make payments. 

*537.007- ANY title loan made by a lender without a license is VOID. Which means they ca n't collect money, have to return my car, return my title, are entitled to receive reasonable attorney 's fees & costs in any action brought by the borrower.

XXXX 533.008- Title Loan Agreement is missing : My physical description, My social security number, My driver 's license number, & my license plate number, signature of loan lender or lender 's agent. Name, address, & phone number of Department of Financial Services for consumers to address complaints. 
- Florida Law says APR ca n't exceed 30 % and if it does the agreement becomes VOIDABLE. Even if by accident. 

*537.013- Selling or charging for insurance. Refusing to accept partial payments toward satisfying any obligation owed which is what was agreed upon between XXXX XXXX & I. 

*537.009- After repossession loan property being returned to loan lender shall be stored & maintained at the title loan office. 

*537.012- Was n't sent a notice about intent to repossess or given proper time to remove property. Had n't received anything in the mail from XXXX in 2 months. 

*537.015- Title loan lender who acts as a lender without 1st securing a license prescribed by this act commits a 3rd degree felony. 775.082- {$5000.00} fine for 3rd degree felony. 775.084- Investigation & subject to imprisonment by court for a term not exceeding 10 years. 

According to the Florida office of Financial Regulations : XXXX XXXX XXXX XX/XX/XXXXXXXX Only had a consumer finance license & NO BONDS. They do n't have a license to deal car title loans AT ALL. 

-Employee & manager XXXX XXXX & XXXX XXXX do NOT have a license to deal car title loans and the possess NO Bonds. XXXX XXXX the CEO also does NOT have a license to do car title loans in Florida and had NO Bonds. 

I did my homework. Studied all the state laws front and back. I want my car back and if it 's sold I want to sue. Please help me bring justice to TMX Finance & XX/XX/XXXX. I know I 'm not the only victim because there are class action lawsuits all over the country. Attorney General is aware of the violations and will also be pursuing this.

Company response to consumer: Closed with explanation