Consumer complaint received 2022-12-07
Company: Select Management Resources, 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 lost a job due to covid and was forced to start my own small business as a XXXX XXXX I decided to change my life and be a part of my community` and employ fellow XXXX and teach them a trade at the same time that I was providing a service to my neighbors. The biggest asset to my company was my vehicle. My truck gave me the ability to get to jobs carry needed material, pick up my help. I made a simple mistake that was do to a pushy overwhelming process when i walked into LoneStar title loans. I asked for XXXX and she kept insisting i take the XXXX amount of almost XXXX dollars. When the representative was on the phone trying to get more money, she kept telling the lady that it was a XXXX XXXX and kept laughing. I know now what they were laughing at. It was the XXXX that was going to sign away his life line. I was under the impression that I was paying XXXX back in finance charges because she kept saying that it was XXXX or XXXX XXXX percent interest rate. That in fact was true however the amount that I am supposed to pay back totaled XXXX at XXXX a month. She gave me a contract that i barley could read due to the printer that was running ink and was not formated or aligned correctly. I signed and wouldn't you know it, a few days later i was in the hospital. I had to have my XXXX removed and could not heal from the XXXX It took me at least a month the get to a point I could actually get some physical work done. I contacted them and they did not care. All i got from them was threats of coming to get my truck. The preyed upon my bad situation and bullied me into taking a loan that no one in their right mind could pay back at XXXX plus a month. I did a little research and found out the bank did have the lower apr but the XXXX party Lone Star title Loans was charging all the money as i guess finders fee. When I asked them about the high amount she laughed at me at told me her company was big enough to either get away with the charge do to their ability to know the law and being a large corporate company they knew the laws and what exactly they can and can not due. My only option was to trade in my truck to get them paid off and maybe have some equity in the truck to be able to finance another one. Between my bad credit due to covid and hard times. I could not get another financed. On top of everything LoanStar title loans kept harassing the dealership that I was trying to trade in and finance another vehicle from. I was embarrassed to say the least and it had to look bad. I never gave them permission to discuss any of our business with what I hoped was going to take my truck as a trade in. I finally went and brought my truck back to my house and I guarantee that tonight a tow truck will pull up and complete the nail in my coffin. I understand why they were laughing on the phone when she was talking about how nice the truck was. I made a single mistake because I was mislead and Exploited by the very essence of the word. I am lost and need help and do not know what to do. All my hard work was for nothing. I feel like a failure to my family to my son to everyone due to a company set up to kick people when they are down. I thought that me providing a service to our community was the way our country was founded. I thought I was the backbone of America but that is not so. The hard working american men and women are nothing but expendable poor struggling have nots that can be taken advantage of. Sad, during scary hard times we were there to do our part. XXXX XXXX XXXX XXXX that didn't stay home when the entire world was scared of covid. We were told we are a essential part of our economy and if we do not risk our health and go out and work our economy would collapse. So my fellow XXXX did exactly what we always do, we put our heads down and did our part to help our economy and our country. The first responders get the credit as they deserve what do we get as XXXX XXXX XXXX XXXX XXXX  owners we get Exploited and bullied into signing bogus confusing papers with misleading information. I need help to keep my truck and my ability to do my part in the pursuit of happiness and provide for my family. I am ashamed of my mistake and only write to you so that it might help someone else down the road that is in the same situation that I am in, so they do not ruin everything they have worked so hard for as well. Please not only help me help my neighbors and american people. Stop these people that exploit and profit off of peoples misfortunes.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with non-monetary relief