Consumer complaint received 2017-08-03
Company: TMX Finance LLC
State: VA
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Vehicle was repossessed or sold the vehicle

Complaint:
I took out a title loan with Title Max in XXXX XXXX, VA on X/XX/16 for {$1500.00}. I used the loan to help with bills and my school tuition after leaving an abusive marriage and trying to take care of myself and my children. I paid the loan payment of {$260.00} at first and then in XXXX 2016, I made a partial payment by the due date of the loan, because funds were running low due to other bills. I then paid the rest of the XXXX payment in XXXX, and then the XXXX payment was made late at a significant, but still partial amount. I was getting behind in the blink of an eye, even though I was trying to keep my head above water. I kept making payments, but little was going to principal. I wanted to pay it off with my tax refund, but XXXX refunds were severely delayed, and I had to pay money for my tuition, which could n't be delayed without dropping out of school. The car is used by my XXXXyr old son, who needs the vehicle to get to work. I tried to work something out and my son and I kept struggling to make payments. I have been behind, but always in contact with the staff. I received a letter stating that they intended to repossess the vehicle, and I tried to figure out how I would cover my bills and also make the {$520.00} payment requested in the letter in order to keep the car from being repossessed. I have very little savings left, and so tried to reach out to family, but I read the date in the letter wrong, so I thought I had a few more days to get the money to them. I received a call from XXXX, one of the staff, who said I needed to come in and make a payment, because the date of the letter was past due. I made an arrangement with one of the tellers named XXXX on Monday and Tuesday. She told me that I could make a {$600.00} payment on XXXX XXXX ( Friday ), and that is what I had planned to do. I was pulling my small savings and calling on family and friends to help us. I called the TitleMax on Wednesday to be sure I knew how much I had left on the loan, which was due to be finished this month. I wanted to see if I would be able to pay it off in full by the end of the month depending on the remaining balance. They refused to email me the loan history when I called, but told me that I could come in to get it in person. I went and sat down with one of the managers, at their request when I got there. They gave me the loan history, but also wanted me to give them my payment. I told them that I had worked out something with XXXX to come in and pay {$600.00} by Friday. They informed me that XXXX was no longer working there, and that she did n't have the authority to tell me that, and that I had to make the payment that day. I asked if I could get a hardship loan workout or extension, because I needed until Friday for the {$600.00}. She said no, I had to pay by that day. It was XXXX when I was on the phone, and the office closed at XXXX, so I was n't able to get there even to make a partial payment. This morning, my son was at work, and the vehicle was repossessed. When I called they refused to even tell me where the vehicles was taken to. so my son could get his things out of the car. They referred me to the corporate office. I called the corporate office and talked to a gentleman ( XXXX? maybe ). He told me that he could take 20 % off to just allow me to pay the loan off by giving a pay off amount of {$1000.00} to be done with the loan, because I had such a hard time paying it. I was relieved, and thought I could get that together from family and my savings by Friday. Just a few minutes ago, I was called by XXXX, the manager I spoke with on Wednesday. She informed me that the {$1000.00} offer was not valid, because Virginia law did n't allow them to take less than the amount owed. She then pressed that I had to come in and now I would owe over {$1600.00}! I have 15 days to pay it before they auction off the car, but I simply do not make enough and can not pay that amount by then unless there is a miracle, which I am working on now. We need the vehicle back to make ends meet.

Company response to consumer: Closed with explanation