Consumer complaint received 2023-12-15
Product: Payday loan, title loan, personal loan, or advance loan — Title loan
Issue: Charged fees or interest you didn't expect — 
Company: AutoMoney, Inc. (GA)

On XX/XX/XXXX, I was referred to a title loan place called Auto Money on XXXX XXXX XXXX, XXXX XXXX, GA XXXX because I needed money to repair the pool in our new home. I did a title loan with them and was given {$10000.00} for my XXXX XXXX XXXX, my truck was worth {$17000.00} at the time. At the time of the loan, my income was great. So, I wasn't expecting to not be able to pay on the loan. However, It was strange because they did not pull credit. That was a red flag but I needed the money so I went for it. The young woman, XXXX XXXX, was who helped me with the loan. She explained that my payments would be {$860.00} a month, my due date would be on the XXXX of every month, and I only had to pay {$11000.00} ( this amount included the XXXX owed and fees and interest ). But on the second page of the contract, it states we would be done paying {$10.00}, XXXX once the total amount of payments were done. Let me add, NO ONE went over the contract with us either. 

We made the payments of {$860.00} on time but started noticing our payment date would move. I questioned why the date was moving and not the XXXX of every month as promised and they told me well that is how the system is set up to charge every 30 days. I was confused because I was told my payment was due on the XXXX of every month. At this time, I had paid about XXXX payments so I asked how much I owed on the bill. She told me {$10000.00}. I was HIGHLY UPSET. How is that when I have been making payments of {$860.00}? The young lady I was speaking to stated " Well, you have to pay more for the amount to go down. '' I was stunned because NO ONE told me I had to pay more for the payment of the loan to go down. I should have reported them at that time but I decided to start paying more so I started paying {$1000.00} instead of the {$860.00}. I started noticing on the receipts that they would mail out every now and then ( because I never received a receipt every month ) that the balance would only go down by {$20.00} or {$30.00}. I called and they kept saying well you have to pay more or I was XXXX day late so they added an extra $ XXXX. I was still wondering about the date constantly moving. In the contract, it will state that there is a grace period after the maturity date. So for example, I would pay on the XXXX and then they would be calling on the XXXX or XXXX asking for me to pay again. It doesn't even be a full 30 days. Also, there is supposed to be a chart on this contract that states if they take possession of our vehicle what we would have to pay back. There is no chart so I am guessing they make that amount up out of thin air whenever that happens. Just check the last page of the contract and you will see there is no chart. 

In XX/XX/XXXX, my XXXX  truck needed to go in the shop for repairs, I was out of work for a month and a half but I still made payments to them for my XXXX XXXX truck. They told me to pay {$640.00} for XXXX month. I knew that doing this wouldn't help the fees and interest but I was stuck. My credit was ruined because I had taken a major loss with my truck being down. I had to rent a truck while my truck was in the shop and it cost me {$900.00} a week. My truck was in the shop for XXXX XXXX and it has been downhill every since. We are stuck in this contract with Auto Money where I have paid $ XXXX towards this loan and was told today on XX/XX/XXXX that I still owe {$10000.00} on this loan. It is obvious I am paying on the loan or I wouldn't have my truck. I honestly want this place investigated for its loan practices. I even looked at my contract and there is nothing stating my payment date would change or that I had to pay more for me to pay the loan off. This is a ripoff. My bank can not refinance the loan because the truck is XXXX XXXX XXXX and I can't get a large loan to pay off the debt. I am literally in debt and will probably be paying this loan for years if I do not get any assistance. My credit at the time is not great because of the XXXX XXXX I suffered in XXXX with my original truck being in the shop, so trading it in is not an option. They are robbing clients who they feel have bad credit and low income, even their place sits in a poverty low-income area. I truly feel sorry for those people who were just like me and XXXX XXXX and got suckered into getting this loan and may not have the money to pay for it. I am currently behind on my mortgage for XXXX XXXX, I didn't even make enough money to pay the insurance and buy groceries, and even after explaining this to XXXX who is the store XXXX she said she couldn't help by waiting til the following week. So I had to pay {$860.00} to keep the XXXX vehicle we owned so XXXX XXXX could go back and forth to the doctor. I want them investigated.