Consumer complaint received 2019-05-04
Company: Select Management Resources, LLC
State: OH
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Struggling to pay your loan

Complaint:
On XX/XX/2018 I was a victim of predatory lending. 

I cant work due to medical issues and at the time my boyfriend had been out of work for 8 months but had just been hired a few days prior with a company as an outside sales rep. My boyfriend asked that we go get information on a title loan because my car was the only car with a clear title. We were desperate because our electric was off and we were in the process of being court ordered evicted by the town house company that we paid rent to. We were 60 days late and our rent is XXXX per month. We would have the money soon but not in time to not have to deal with being kicked out and have nowhere to go. 

Anyways I was lied to by a LOAN MAX TITLE LOAN employee, and rushed to sign all the paperwork without going over all of it. I was honest with the employee XXXX. From the beginning and told her I did not have an income other than my cash assistance I recieved which was only XXXX per month. She said I would not be able to get the amount I needed based on my income but than she asked my boyfriend his income. He told her about just getting hired and what he would be making and with out asking us she went ahead and used my boyfriends income but the loan was in my name because I was the one with the clear title. Then she went over paper work as fast as she could and I asked if she would at least make my boyfriend co-signer so I would not get stuck having to pay it all if he decides not to help me with payments. She told me she did not make him the co-signer because we lived together and living together made him just as liable for the loan as making him co-signer. I told her I wasnt comfortable with the loan being taken out in my name using his income because I did not want to get stuck owing all the money because he was not added as co-signer. She took none of my boyfriends info, just used his income as if it was my income for the loan writers. I asked her to make him co-signer and she told me that we did not need to do that. Then I was talked into signing and I did not want to be homeless so I went with what she said about us living together and signed. 

A month later XX/XX/18, the loan was due and my boyfriend said it was not his loan becasue only my name was on it. I called loan max and explained everything and they told me I was liable fo the loan. I said I was a victim and they said well if you lived together she was allowed to use his income. so ever since XX/XX/2018 I recieve daily calls, voicemails and texts. The voicemails is the woman that did the loan for me and she demands that I call her back today, almost every day and says that as long as I still have a past due balance I am going to hear from her every day and my car is no longer secure. I have tried to work with them by paying a much lower monthly payment but they refuse to budge on what is currently owed and refuses any other kind of repayment plan and each day my loan increases in interest because they wont let me pay much smaller amounts each month. I was honest with them about not working and they dont care.

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