Consumer complaint received 2019-10-31
Company: TMX Finance LLC
State: MO
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Problem with the payoff process at the end of the loan

Complaint:
We are with XXXX XXXX XXXX and had a member come us because she had signed loan doc on XX/XX/XXXXat Title Max for a {$3000.00} loan @ a rate 166.23 %. Luckily, we caught it before she deposited the funds. We were able to review her loan documents she signed and found that she had 24 hrs to cancel the loan and return the proceeds to cancel the loan and owe nothing. We had her sign a financial power of attorney naming us as her attorney-in-fact so that we could return the funds on hef behalf so that they could not try to convince her into keeping the loan. We showed up at the title loan company to present the POA, checks and original loan docs given to her and asked for the title back. The front desk employee stated that he would have to get his manager because he didn't know how to do that, the women came out from the back and immediately began to yell at the employee for having us stand at the desk. After she reviewed what we brought we were told by the General Manager, XXXX that she wasn't able to accept our POA even thou it clearly stated that we had the authority to act on her behalf in regard to all banking, lending and assets owned. She proceeded to tell us that she was going to have to call her corporate office to get approval and that it was going to take several hours. We stated that we would wait. After a long wait, she came back and said corp refused the document and XXXX would be required to be there herself. At no point did she ever ask anyone for any identification, otherwise the employee that was named on the POA could have provided proof she was with XXXX XXXX XXXX. We said fine and left, in the meantime we call the member asked her to meet us back there and ran one of our employees back to the office as they had to leave for the day. The other employee came back to meet XXXX so that she had support and knew her rights as a consumer to turn this in and demand the title back and since they had informed us they were not going to honor the POA it didn't matter that she had no ID on her that could associate herself with our organization ( hired 3 weeks ago, so no business cards yet ) she was there strictly as support. When XXXX ( XXXX employee ) arrived back at the Title company, XXXX immediately went to the back to hide and another greeter her. XXXX asked to just let XXXX know she was waiting for XXXX to come and had a seat in their lobby. Meanwhile I guess XXXX decided to call the police department for whatever reason. Police showed up and asked XXXX to leave the property because of whatever compliant XXXX called them about. Meanwhile our member was left to fend against this woman that was obviously very upset over losing this loan. She kept XXXX for a while before finally giving her back her title and paperwork. As a FI that is HEAVILY regulated it continues to amaze me how these types of business can operate. A {$3000.00} that was going to cost her {$15000.00} to payback and people wonder why our country is in the condition it is in. Who is looking out for these people ... and those of us that are trying to can have the police called and escorted off property? Please, please do something to help put these types of crooks out of business.

Company response to consumer: Closed with explanation