Consumer complaint received 2023-03-03
Company: TMX Finance LLC
State: AL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Problems at the end of the loan or lease
Sub-issue: Problem with paying off the loan

Complaint:
Titlemax Complaint I am filing this complaint to expose the retaliatory treatment that I am receiving from Titlemax which has caused me a great hardship. Hopefully, this letter will initiate an investigation and help other victims that are affected and helpless and subjected to Titlemax inconsistent and retaliatory behavior. 

On XX/XX/XXXX, I sent a complaint letter to Titlemax in reference to the rate they had given me for my renewal which was different from the original approved rate for the maximum amount of the loan on my XXXX XXXX  ( please see attached ). 

Once Titlemax received the complaint letter, they immediately locked my account so I was unable to pay on or pay off my account. Yet, I was continually being charged a daily interest at the higher rate. 

After several unsuccessful attempts to get the rate changed back to the original agreement, I informed Titlemax Customer Service via telephone call and e-mail that I wanted to end my relationship with them ( See Attached ) and that I needed to payoff my account and receive my title. 

I made numerous calls to the local office and Customer Service. I was promised call backs that I never received. I expressed to the local office on at least XXXX occasions that the inability to pay my account off was causing me a hardship because I needed my title. 

The Manager XXXX XXXX ) stated that she sent an e-mail, which according to her, was the only thing she could do and e-mailing was the only option Titlemax required her to do, and that she was waiting for a response. 


As of this date my account is still locked and I can not payout my account or pay on it. My daily interest rate has accrued for the entire month and I am required to pay that amount up front before any additional amount would be applied towards the principal. 

My husband lost his ability to work in XXXX due to XXXX XXXX and as of this date he is still unable to work. We are trying to make financial adjustments to be able to continue to meet our obligations. It was our intent to payout my loan with Titlemax and get a loan with a lower rate with another lender and use my title as collateral. However, Titlemax is making that impossible and causing us additional financial hardship. 

I do not understand the logic of locking my account and not allowing me the option to payout or on my account. Its obvious to me that Titlemax is retaliating against me for writing a complaint letter. 

I have been doing business with Titlemax for many years. My account have always been current and never in jeopardy of repossession or collections. 

However, If the current status changes, and my account goes into a negative status, it would be due to titlemax still having my account locked and not allowing me the ability to make a payment. 

Please investigate this matter and this companys unfair practices. 

Due to the hardship and mental stress Titlemax has caused me, I felt that they should be held accountable for this unnecessary treatment. 

XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation