Consumer complaint received 2023-10-12
Product: Payday loan, title loan, personal loan, or advance loan — Title loan
Issue: Problem with the payoff process at the end of the loan — 
Company: TMX Finance LLC (GA)

Attn ; To whom this notice may concern last XXXX I applied for a loan with title max located XXXX XXXX XXXX XXXX XXXX, GA XXXX tele phone number XXXX due to a financial hardship last winter that caused me to have to get some unexpected repairs to my home. I applied for the loan and was initially approved for {$1000.00} the initial renewal payment was XXXX interest only non applying toward the principal balance a was to continue at 119 %. I will admit I was caught in an unexpected emergency and intended on paying off this short term loan before now as more life events took place I have I was not able to pay the loan off as early as I expected resulting in title max XXXX more of those loan shark interest payments totaling XXXX just in interest what a costly mistake on my part however it dose not give title max the right to take advantage of consumers with their unethical business and practice lending policy 's the have a legal loop hole the truth " Predatory Lending '' at it's best as of XX/XX/XXXX my vehicle was involved in a " Total Loss Accident '' Due to a negligent driver who rear ended me while i was sitting still at a stop light the vehicle is more than fifteen years old. I contacted title max to negotiate a final settlement to shake had and part ways with the crooks so the insurance company could finalize the claim title max refused the offer of {$1300.00} I offered to settle this account in full berceuse if you do the number {$1700.00} in total interest only payments plus the initial settlement offer of {$1300.00} is equivalent to {$3100.00} for a XXXX XXXX XXXX in which the insurance company deemed totaled because the repairs where very costly as a consumer I feel the laws regarding title loans need to change to prevent consumers from being victim 's of predatory lending a lesson learned by me not to ever do business with a predatory lender such as title max not to mention these loans are geared XXXX the underpaid workers and underserved XXXX and consumers they are uneducated in certain ethic back grounds assuming they are liberate that's my option its time for the CFPB and state regulators to review these dirt bags as they did in XXXX when the Housing market crashed and the Dodd Frank Law was enacted to protect consumers from shady and unethical practice in the mortgage industry. I have spoke with Title Max they want XXXX to pay the loan off in which is insane. I understand I signed an agreement to repay these shysters with no compassion for the consumer in the event they loss their vehicle in a total loss wreck due to another divers negligence thorough no fault of their own. I spoke with XXXX the representative from title max who denied the settlement offer for the additional {$1300.00} I also believe my ethnicity had a role in this also and I also feel that they would have offer someone they felt had knowledge of their lending tactics a fair settlement. I will never ever get my self in a jam like this again lesion learned I hate im carless and ripped off this is my initial complaint that will be submitted to the XXXX and other agency 's as well so consumers can be made aware that predatory lending still exist so they can be informed about shyster lender like this and to make an informed decision before signing any document 's or trying to figure out an alternitve option.I plan make this puplic.