Consumer complaint received 2024-06-05
Product: Payday loan, title loan, personal loan, or advance loan — Title loan
Issue: Loan payment wasn't credited to your account — 
Company: CCF Intermediate Holdings LLC (AZ)

I took out a {$1500.00} title loan with TMX Finance Inc. dba TitleMax of XXXX or TITLEMAX, XX/XX/XXXX. A negotiable instrument was sent to XXXX XXXX XXXX XXXX as payment for satisfaction and discharge of the loan, pursuant to TMX Finance 's current indenture trustee agreement with XXXX XXXX, The Securities Act of 1933, and the Securities Exchange Act of XXXX and the Trust Indenture Act of 1939, XXXX, XXXX The proper forms : IRS Form XXXX, Notice Concerning Fiduciary Relationship of Financial Institution XXXX IRS Form XXXX, Notice Concerning Fiduciary Relationship ; IRS Form XXXX, Power of Attorney and Declaration of Representative ; FDIC XXXX XXXX, Declaration for Power of Attorney ; FDIC XXXX XXXX, Declaration for Custodian Deposit and an instruction letter from The XXXX XXXX XXXX XXXX XXXX XXXX detailing the intent to revoke any security interests held by TMX Finance- the creditor, or XXXX XXXX XXXX XXXX the current indenture trustee, was sent regarding the title loan in question. XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX has repeatedly acknowledged via mail and calls that the documentation was received, but refused to take the lawful actions requested and required as a Fiduciary over the disputed account. 

XXXX XXXX has denied the presence of any negotiable instruments, usually converted into asset-backed securities, being sent to their offices in this matter, but admitted receiving the correspondence in multiple communications since the failed delivery of the security. I will also be filing a complaint with the Postmaster General regarding the failure to return a registered security. 

TMX Finance continues to commit fraud as Titlemax of XXXX XXXX as TITLEMAX, by attempting to collect on balances for which Titlemax of XXXX has no lawful claims, after transferring the alleged debt to Titlemax XXXX, XXXX as the issuers, and the subsequent trading of my information on the secondary Market, which they informed the IRS would not do. Once the loan was sold, pooled, and transformed into a security, the TMX Finance is no longer able to argue that it is a true party of interest because the original lender was paid in full. In addition, once the note is changed into a stock or stock equivalent, note is no longer a note. TMX Finance is attempting to double-dip once loan was securitized is securities fraud. Titlemax XXXX, XXXX has no legitimate claims against myself, as there has never been any contract establishing such. 

A perfected lien was required to lawfully seize assets under UCC law. 
TMX Finance failed to perfect the XXXX required by the State of Arizona Uniform Commercial Code prior to taking possession of the collateral in this dispute, a XXXX XXXXXXXX XXXX XXXX  XXXX XXXX ID # XXXX, in XX/XX/XXXX. 

TMX Finance has refused to release the collateral, or discharge the debt as required. I am aware that my negotiable instrument is a cash equivalent, backed by the full faith and credit of the United States Treasury Department, and an obligation subject to discharge and cancellation pursuant articles of the trust indenture agreement for issuer and registrar. The negotiable instrument was presented with the expectation that an equitable exchange or valuable consideration would be given for the delivery of the security ; not one masked as a gift via contract, with miniscule, or little to no consideration. 

Although, TMX Finance 's prospectus and indenture trustee agreement with XXXX XXXX confirm the intended securitization and sale of my securitized instrument, I have received no valuable consideration ; as XXXX XXXX purports " having no open or closed auto loans associated with your information, or the Vehicle Identification Number listed within the Secondary Motor Vehicle Finance Transaction Contract previously provided for review. '' This is a deceptive and misleading statement by XXXX XXXX, being they are undoubtedly the current indenture trustee for TMX Finance and required to perform the procedures requested via instruction letter from XXXX  XXXX XXXX XXXX XXXX XXXX.