Consumer complaint received 2023-05-07
Company: TMX Finance LLC
State: TX
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Charged fees or interest you didn't expect

Complaint:
I definitely would appreciate the help in understanding my rights regarding TitleMax lying to me, misleading me, and taking full advantage of me. My being 100 % XXXX, with XXXX, and they knew my health concerns before I even walked in their door, because I called 1st and asked many questions, and I was assured that it would be only a 6 month title loan, and then I'd get my title back. 
They had me drive to XXXX office over an hour from my home, but said they'd give me gas for the long drive, and better chances of approval. 
I desperately need to understand how in the world this has happened to me, being threatened that if I don't keep taking a new loan out each month, and paying it even after I've already payed off the agreed amount, that my jeep would be taken away from me. I was lied to, and never once told that I'd be renewing a loan each month, or that I'd never get the title loan paid off. Even if I keep on paying the amount due plus the extra, it looks like I'd be paying over {$50000.00} and still not get title back.And I just got a letter on top of all this saying TitleMax has violated my privacy sharing my personal information with others which is against the law. They keep getting just a slap on the hand, " if that '', and never really have any repercussions for their basically stealing millions from innocent consumers, and now breaking privacy act laws. Then they tell me I have cash available to me if I need it, and I did because XXXX got to get to my doctor 's, and I can't this way. But when I tried to obtain the cash available, they were making me take out additional loan to put on top of my current, and raise my payments up even further. % he kicker is, they'd only give me half XXXX it, and I had to pay the other half of my available to them. I can't seem to wrap my head around that one either, not for the life of me. Can you? As bad as I needed the gas money, I couldn't afford to pay anything up front to get the over payments that I had already paid. Giving me a loan on my own money, and not unless I give them half of the loan.?? WoW?? 
I've been taking screenshots of each payment I make, and what it says my new amount to pay loan off is at that time, as well as the amount due for my next payment the following month. ( It never ever goes down, always up higher )! I've literally already paid my original loan off, plus the interest, and have paid way above my monthly amount due each month. I owe now more than the original 6 month loan I applied for, ( that's what they assured me I was getting ), and that's after on time payments every month, was not supposed to be for eternity, but for only 6 months or less.. 

TitleMax knew I'd just had a XXXX, and was just out of the hospital the day before I drove to XXXX office and got the loan. They knew that I am 100 % XXXX, that I'm in the middle of XXXX treatment, and I am XXXX desperate need of gas money for my treatment, and now all postponed. XXXX multiplies with stress, and I feel that I've intentionally been targeted, and then scammed. I owned my XXXX  with a clear blue title that I was so proud of. My loan was for gas cost, and medical expenses so I could continue treatment that's hours away from where I live. It's horrible the nightmares I've been having, this kind of stuff should be illegal! I need help, please! 
During the application process, they wouldn't let me see their computer screen, saying to me that the font on screen would be too small for me to read. She said that she'd go over all that was on her screen so, as if she were helping me, then I could just initial, and sign. I asked her several times to confirm that as long as I pay 6 months on time, that I'd get my title back upon the last payment, and that if I was able to pay even XXXX or more above payment amount as she said, thatit would be paid in full in 5 months, and she said yes, that's correct. I believed her, and thought she was a very kind, and honest person. She proved me very wrong though, she's a con artist taught by her superiors how to use smoke & mirrors to con people like me. % hats so wrong, and punishment should be put in place. From stories I just read, they've been doing this forever, and getting away with it. I need to understand why it's ok to do this, when courts say it's wrong. They are breaking the law, and have caused horrific pain, and much damage to people 's lives, and their mental health, not to mention how many people have had suicidal ideation because they know no way of how to pay off a loan for something that was theirs to begin with, and have paid over and over again until they can't go on any further. 
My XXXX treatments are on hold, because I don't even have enough money for gas to get to appointments at all after paying off my 6 months and interest to total full amount, I was told that would be all I'd have to pay, but am now paying it all over and over again leaving me penniless. My electric was getting cut off the other day and I went for help from the county where I live. They paid enough to keep lights on, and a {$25.00} gas voucher.As of today I'm right back XXXX same situation after just getting paid yesterday. 

I'm XXXX XXXX I feel alone with no help, and see no end in sight. I have only my XXXX sons and no family. TitleMax says if I don't continue to pay, that they will take my only transportation, and I live in a rural area with no public transportation. I'm scared to death that when I took out that loan, I signed a death wish for myself. And it is so disturbing to know that this lady at TitleMax took advantage of me knowing my situation, and that I have XXXX, as well as on XXXX that provides me a very limited income each month.And they are literally trained to do this to every single customer nationwide. I have faith in the justice system, but we need someone to advocate for us, we need new laws in place that will prevent this type of thievery from companies like TitleMax! They can't keep getting away this! Please help me, I just want my XXXX title that I own, the loans never going to get paid off at 300 plus % interest rates, the principal never gets money added to it, because some lie they tell us about the loan process, and never saying to us that we have to take a new loan out every month. This is so insane!

So yes, any help you can be assisting me with learning my rights here in Texas, would be very much appreciated. I'm at wits end and just don't know what to do, and TitleMax has no empathy or compassion with what Im going through with my health. This is so so wrong, and should be 100 % illegal what Titlemax is doing not just to me, but to everyone that walks in to get a loan with them, and instead is sold a bunch of lies that they make them huge huge profit, while the borrower sits and contemplates ways to make it stop, hurting themselves, or completely losing their minds to this abuse by the scam that TitleMax teaches each employees, not caring the damage done to all the lives they've ripped through like a cat 5 tornado leaving the borrower with nothing but more wreckage to clean up alone, more than they've ever had to deal with in life.

Excuse my rambling on, but I " cry myself to sleep every night, I am so depressed that I never even leave the house, I can't even afford to leave, or even eat a healthy meal.

I had given up hope of anyone helping me understand, and then I read the headlines on yet another complaint filed against TitleMax, and was hopeful that I may find some answers to my situation, and how I should handle it, and possibly get this paid loans weight off my shoulders.

To see that so many others are going through the exact same problem with TitleMax, and to see that there's companies out here like yourself that protect consumers from these scam artist, who are only out to rip consumers off, while making huge profits, it really gave me hope today, for a solution here.Being on 100 % XXXX, with a set income, people like me can not afford to hire an attorney to help us, and TitleMax preys on us because they know that XXXX, and the XXXX  persons usually do not have that kind of money and can't do anything about it when being ripped off. 


Thank you! What y'all do to help protect consumers is greatly appreciated! 


Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation