Consumer complaint received 2025-04-05 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Title loan
Issue: Charged fees or interest you didn't expect — 
Company: CCF Intermediate Holdings LLC
State: TX

Complaint narrative:
Issue : Deceptive and misleading loan practices, misrepresentation of terms, and failure to thoroughly investigate a formal complaint. 

Company : TitleMax XXXX XXXX XXXX XXXX 

Complaint Details : I am filing this complaint due to my experience with TitleMax, which I believe involves deceptive practices in violation of XXXX XXXX XXXX XXXX and XXXX. I obtained a loan at their XXXX XXXX location and refinanced multiple times after being misled about how repayment worked. 

When I initially expressed hesitation about proceeding, two representatives, XXXX and XXXX, both reassured meon separate occasionsthat I could make monthly payments to pay down the loan. At no point was I clearly informed that those payments would only go toward interest and XXXX fees, with no reduction in principal. 

I was not given a breakdown of fees, interest, or XXXX charges when first getting the loan. I learned about this information when after speaking to a representative on XX/XX/XXXX. On XX/XX/XXXX I went to the store location and spoke with XXXX, when I asked for clarification, I was told to disregard the XXXX chart and was not given any explanation of the XXXX bond or what it meant for me as a borrower due the her not knowing what a XXXX bond was as the general XXXX. The full implications of refinancing were not discussed, and I was never informed that I would be renewing into a new XXXX agreement with additional fees every time I made a payment that was not a full payment. 

The platform automatically renews the loan when a payment is submitted, and there is no option to decline renewal. I provided a screenshot showing that early payments are tied directly to renewals. Additionally, I have another screenshot showing that account documents were inaccessible online, so I could not review my terms even if I wanted to, as they stated, I could only view them when signing each time online and had no additional access after that to go back and look as well as I cant see any previous payments that are made online, I have to go in store and request this information. 

I filed a formal complaint with the company and included : Screenshots of my conversations with my husband on the day I learned how the loan truly worked ( XX/XX/XXXX ), Call logs from the day I contacted TitleMax in confusion, Receipts showing handwritten, non-itemized breakdowns, References to the XXXX XXXX XXXX violations, A screenshot of the contract showing how the finance charge was presented more like a monthly paymentnot as an interest-only charge. 

Despite submitting this evidence, TitleMax denied my complaint, stating that because I signed the agreements, I understood the terms. However, the calls I specifically asked them to review were never acknowledged, which would have validated that I was misinformed and misled into refinancing multiple times. The denial appears to be based entirely on my signature, not the context of how the loan was explained or handled. 

I have already paid {$2200.00} on a {$6700.00} loan. I submitted a settlement offer of {$3900.00}, which is a reasonable resolution considering the misinformation and deceptive practices that led me to agree to the loan under false pretenses. That settlement amount includes that amount I have already paid plus an additional {$1700.00} I am willing to pay, I will even pay an additional {$1700.00} to settle at a total of {$4000.00} exact, which is 60 % of the balance. 

I will submit all documentation and evidence along with this complaint and would like Title Max to verify they have listened to the call recordings and not solely going off of what the representatives are saying and the signed agreements. I was mislead into a loan I would have never gotten if the representatives didnt present it to me as a regular traditional loan when I originally denied the 30 day loan term and stated that I wouldnt be able to pay the amount back in 30 days, due to the representatives not wanting to lose a customer they then used deceptive practices to get me to sign up for their services by withholding information on how the loan truly worked and not going over the contract in detail just referencing the finance charge as a traditional monthly payment that would help reduce my balance every 30 days. 

The screenshots between me and my husband was my reaction to finding out how the loan really worked and how my payments were applied after speaking to a representative just moments before that same day. Then I called back to discuss options on how I can get out of the loan with the representative which didnt require me to pay in full due to me not having the total amount and even offered to give them my vehicle which then I was told even if I gave them the vehicle I would still have to pay the money back and I was very upset because the the loan was not originally explained to me that way about my payments being all interest and I really want the calls pulled to validate what I am saying from XX/XX/XXXX because the screenshots between me and my husband are the only proof I have and can provide on my end. If they did not record calls I would like them to seriously consider my evidence and work a settlement arrangement. 

XXXX Sought : I am asking for CFPB assistance to : Investigate TitleMaxs failure to provide full and clear disclosure of XXXX fees, refinancing terms, and interest-only payments ; Ensure the calls and evidence I submitted are properly reviewed ; Hold the company accountable for misleading verbal representations made by their representatives ; Help reach a fair settlement based on what I borrowed, what Ive paid XXXX and the harm caused by misrepresentation.

Company response to consumer: Closed with explanation