Consumer complaint received 2023-07-07
Company: TMX Finance LLC
State: TX
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Struggling to pay your loan

Complaint:
Please note : the below is verifiable. 

My loan payment is late. I work for myself. I accepted a check from a client that I have accepted checks from before in the past. However, this time I cashed the check and it bounced, which caused several bills to be returned. I contacted TitleMax and explained the situation. 

Money got returned to TitleMax. 

Now it seems they are refusing to take payment online. When I tried to contact them, all of the customer service numbers say they are after hours, although there website states customer service is available until XXXX XXXX CST. 

There is no automated number to accept payments by phone. 

They accept payments by XXXX XXXX, but not online. The customer must pay cash at a place that does XXXX XXXX. 

I would believe the majority of TitleMax customer base would be people who are in desperate need of funds and have limited means. 

I had proof to show TitleMax that what happened was not my fault and I did not make a payment in an unlawful way. Sometimes, their customers stories are true. 

I was behind for three weeks trying to catch up the money from the bad check while making money to pay current bills, too. 

My complaint is I have no way to make a payment because it is after hours. Thete customer portal will not let me make a payment There is no call center to help when after hours. TitleMax is making it very hard and inconvenient for their customers to pay after hours. 

Which is giving TitleMax more money in fees or it could cause a customer to become late by limiting their means to make a payment after hours. 

In addition, TitleMax should not punish a person if the payment gets returned once. TitleMax was not the only bill that was returned and no other businesses have required cash payments. If a person is a repeat offender and constantly makes unlawful payments, that is a little understandable, but one time can be forgiven as a mistake. Most people, rich and poor, have made some form of bank error at one time or another. Or perhaps, a check they deposited got returned as NSF. 

TitleMax business practices are already feeding on people with limited means and desparate. They charge outrageous interest, they continually try to sell their customers on extending their loans or taking out additional funds. If something happens where a customer is unable to make a payment, unlike several other business, TitleMax refuses to help their customers. They have no flexibility in payments. And to top it off, TitleMax can make it hard to make payment by limiting their customer 's ability to make a payment. 

TitleMaxs business practices are built to keep their customers in debt for as long possible. Their business practices are designed to take advantage of the poor and disadvantage. 

TitleMax should not have the authority to deny payments. They should not have the ability to make it hard, inconvenient, and, in some cases impossible, for their customers to make payments. Such practices where a company 's design is to keep people who are disadvantage and desparate in dept should be restricted and strictlu monitored. 

TitleMax should not have the right to do this to people. It is not right and immoral to take advantage of the disadvantage to furthet line the pockets of TitleMax. 

In addition, TitleMax should not loan more money than the car is worth The first loan was XX/XX/2023, I made my XXXX payment. TitleMax kept on calling to tell me about additional money, which I took out end of XXXX. The bad check was written to me beginning of XXXX and deposited on same day. I paid bills. Two days later, the check was returned as NSF. 

LOOK at the original loan and what I owe to pay it off today, XX/XX/2023. 

That is beyond ridiculous and it is because they would not help me while I tried to catch up. 

Thank you

Company response to consumer: Closed with explanation