Consumer complaint received 2023-11-13
Company: TMX Finance LLC
State: TX
Product: Payday loan, title loan, personal loan, or advance loan
Sub-product: Title loan
Issue: Struggling to pay your loan

Complaint:
. I am writing to provide additional information regarding the data breach incident at Title Max and their response to my attempts to address the situation. 

When Title Max reached out to me concerning a late payment, I took the opportunity to inform them about the data breach that happen in XX/XX/XXXX and that they didnt notify me unitl XXXX of XXXX, because of this breach ive had subsequent unauthorized access to my personal information. To my dismay, their response was marked by a dismissive " yeah, whatever '' attitude. Instead of addressing the gravity of the situation, their primary concern seemed to be the timing of my payment and the potential repossession of my property. 

This lack of empathy and understanding from Title Max has only added to the distress caused by the data breach. Despite my attempts to convey the severity of the situation, their response was indifferent, focusing solely on the financial aspect and disregarding the broader implications of the breach on my personal and financial security. 

Such a response is not only unprofessional but also highlights a concerning disregard for the privacy and well-being of their customers. It is my sincere hope that the CFPB, as a regulatory authority, will consider this aspect in the investigation into Title Max 's data breach. 

I believe it is essential for financial institutions to demonstrate a duty of care towards their customers, especially in situations involving security breaches. The dismissive attitude displayed by Title Max not only reflects poorly on their commitment to customer well-being but also raises questions about their internal processes for handling such critical matters since becoming aware of unauthorized access to my personal information, a breach originating from Title Max 's system. The fallout from this breach has been nothing short of catastrophic, affecting various facets of my financial life. 

First and foremost, my credit has suffered irreparable damage. Unscrupulous individuals gained access to my Social Security Number, exploiting it to open fraudulent accounts in my name. This has resulted in a multitude of debts, impacting my credit score negatively and tarnishing my standing with financial institutions. 

Furthermore, the breach triggered a XXXX alert and an early warning, leading to the closure of my bank accounts. The cascading effect of these actions has been a substantial loss of financial opportunities, hindering my ability to secure loans, conduct transactions, and engage in essential financial activities. 

I understand the gravity of data breaches, but the extent of the damage I've incurred goes beyond what one might expect. The violation of my personal information has not only affected my creditworthiness but has also caused immense stress and anxiety as I navigate the arduous process of rectifying these fraudulent activities. 

As a responsible individual, I have promptly taken steps to address and mitigate the aftermath of this breach. However, the impact on my financial standing persists, and I believe it is crucial for regulatory bodies such as yours to thoroughly investigate and address these issues to prevent further harm to individuals in similar situations. 

In an unfortunate turn of events, my vehicle recently experienced a catastrophic failurespecifically, a XXXX XXXX that necessitates an entirely new XXXX. The timing of this incident couldn't be worse, as the financial strain from the data breach has already placed me in a precarious situation. 

Regrettably, the impact of the breach extends beyond the realm of credit and banking issues. The urgent need for a new XXXX places an additional burden on my already strained financial situation. Securing a loan for the necessary funds has proven to be an insurmountable challenge due to the compromised state of my credit, courtesy of the breach. 

To compound matters, I find myself in the unfortunate position of having to save up {$10000.00} for a new XXXX, a task that seems nearly impossible while concurrently repaying the loan from Title Max. It's worth noting that i renew my loan with Title Max multiple times, leading to the payment of renewal fees that far surpass the original loan amount over the course of almost two years. 

This predicament highlights the far-reaching consequences of Title Max 's lax security measures and their inadequate response to the data breach. The compounding financial challenges, including the need for a new engine and the inability to secure a loan, underscore the urgent need for intervention. 

Thank you for your attention to this matter, and I trust that the CFPB will take the necessary steps to safeguard the interests of consumers like myself.

Company response to consumer: Closed with explanation