Consumer complaint received 2024-09-20 00:00:00
Product: Debt collection — Auto debt
Issue: Communication tactics — Frequent or repeated calls
Company: 1st Capital Finance of South Carolina, Inc.
State: NC

Complaint narrative:
On XX/XX/XXXX, I drove to XXXX, South Carolina to 1st Capital Finance to get a title loan for {$1000.00}. It was due to the fact that title loans, along with payday loans, are illegal in North Carolina since XXXX. Therefore, I could not find a company that would give me a title loan for my car until I found out about the company 1st Capital Finance. I admit that I did sign a contract with 1st Capital Finance, and they actually recorded me making this agreement with them. At the same time, I did not know the title loan laws for North Carolina residents that lived and had their vehicles registered in North Carolina. 
On page XXXX of the agreement that I had with them, it specifically states : " This supervised loan agreement or commercial loan agreement is entered into the county of XXXX, South Carolina. '' Also on page XXXX, Section A at the very top, it says : " You give 1st Capital and security interests under South Carolina law and your vehicle and all parts of accessories, which now or hereafter constitute accessions to your vehicle, etc. '' Remember, I'm a North Carolina resident and my vehicle is registered in North Carolina. Therefore, these South Carolina laws do not apply to me. I did not know this when I signed this contract. 
I knew nothing about the North Carolina Consumer Finance Act, which is NC XXXX XXXX. XXXX to XXXX. 
Lastly, I would like to make the point that to legally establish a lien in North Carolina, the lender would typically need to : Have you complete and sign a North Carolina lien recording application, which is form XXXX. 
Also, they would get you to file this form with the XXXX along with any required fees. 
Another thing is they will potentially provide an affidavit explaining the situation if there were issues with the original loan process. 
Lastly, they also threatened to come and repossess my vehicle. But I still have the title and it's in my name, and it was never properly processed and transferred through the XXXX. 

I am writing to formally express my dissatisfaction with 1st Capital Finance regarding their recent actions in relation to my vehicle financing. I am a resident of North Carolina, where my vehicle is registered, and I have encountered several issues that I believe warrant your attention. 

Firstly, I want to highlight that I still possess my vehicle title. However, I have serious concerns about how 1st Capital Finance has attempted to circumvent the laws governing vehicle financing in North Carolina. Their practices seem to disregard the legal protections afforded to consumers in our state. 

I have experienced a lack of transparency in their communications, particularly regarding the terms of my loan and the implications of their actions. This has caused me significant stress and confusion, as I am trying to navigate my rights as a consumer while ensuring compliance with the laws of my state. 

I urge you to investigate this matter further, as it appears that 1st Capital Finance may not be operating within the legal framework established for vehicle financing in North Carolina. I believe it is crucial for companies to adhere to these laws to protect consumers like myself. 

I look forward to your prompt response and resolution of this issue.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation