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Titlemax Complaints & Reviews - repossesing

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Titlemax

Posted:    IRATE IN TENNESSEE

repossesing

Complaint Rating:  84 % with 58 votes
Ok so here is the deal, I like alot of you folks out there got into a financial bind and needed cash fast. So I went to titlemax, Well with this grueling economy I ended up losing my job. I am 1 payment behind and guess what... you got it they came and repoed my truck. they actually followed me till I stopped for gas. took it right in the middle of the day on a sunday!!! Wouldnt even give me till Monday to go make a payment!!! Never again in my life when I am finished with this will I EVER MARK MY WORDS EVER deal with or recommend Titlemax to anyone again!!! TITLEMAX TWO WORDS FOR YOU... ... HOPE YA ENJOY RIPPING FAMILIES OUT OF THE ONLY VEHICLE THEY HAVE!
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 30th of Jan, 2009 by   PissedOff -1 Votes
Yeah they are a rip off! I am a single parent of 3. Never borrowed any money, and it came down to having to because bills were due, and things was getting cut off. So I went to TitleMax of Spartanburg, SC (Ashville Hwy) to get a loan. They gave me a 2 yr loan agreement and I paid well the whole time, only getting behind a few times, but letting them know when I was gonna pay it. My loan was due to be paid off in April 09, and they picked my car up Jan. 28 because of a 13 day late payment, without warning. Mind you they let me go 15 days late before throughout the loan period. So they got 20 months of payments and the car!
 23rd of Mar, 2009 by   brian 0 Votes
What do you expect you failed to meet your obligation on the loan and they repo your vehicle. You still had the chance to pay loan off and get your vehicle back. If you did not do this then they did not steal it. Same if you borrow money and dont pay a bank they will repo it also.
 20th of Jul, 2009 by   Shannon36535 0 Votes
wow lets see if i get this right... you borrowed money and didnt pay it back then want to smear a good companies name because YOU ARE MAD???


Wow how bout dont take loans you cant pay back...

I love titlemax... have had several loans with them ( i always pay on time cause i need my car to get back and forth ) and they have always been fantastic.

great job guys!

Titlemax Customer in Alabama
 15th of Aug, 2009 by   Not of the %85 0 Votes
It always amazes me when the Pollyanna's of the world have no understanding of what is right. Not good or just. Just basic "right". Titlemax and the companies like it are setup to make as much money as possible, in anyway possible. Just because a few who probably could have found other routes to clear their temporay money problems were able to pay off there loans in no way makes these companies "good". They are the worst kind of slime put in place to feed off those of us unforunate enough to ever have need of their services. I wish I had better words for those of us with our eyes open but the truth is there will always be companies that prey on the large lower rung of society's economy. The obviousness of the way these companies do business is painful to behold and in a less money driven country would be illeagal. Even scarier are people who are so out of touch as to praise these companies and even thank them for charging them back breaking interest rates. WOW and God bless you, you simple simple creature.

Please excuse any spelling errors.
 24th of Aug, 2009 by   Shannon36535 0 Votes
Not of the %85 -------thats the thing. These companies like titlemax dont hide but come right and tell you if you dont pay me i will come get it and people still borrow money from them .. who should be blamed??? the title company for letting someone borrow money?
How bout the person who borrows the money and doesnt pay it back. plain and simple and no BS ABOUT IT.

also title max rate of 12.99 is the lowest in alabama and hell i work for a competitor.

its all so simple .. if you didnt pay your mortgage you would get tossed out on your rump... so if you dont pay for your car why shouldnt the exact same thing happen?
 23rd of Feb, 2010 by   gotmytitleback 0 Votes
When the people want or need the money and no one else will loan it to them they think Title Max is wonderful when they allow them to PAWN their title but then they won't to slam the company when they don't pay and the company claims their collateral. If you took a ring to a pawn shop and you didn't pay by the deadline your ring would be sold. They would not call you to remind you, try to work out arrangements or allow you more time. TitleMax does call to remind you that your PAWN agreement has expired, they will work with you with in reason and would rather you get your title back. Benifits them to have repeat customers. Some of the reason our country is in the economical shape it is in is because every one wants to blame someone else instead of taking responsibility for themselves. Thank God they were there when we needed them! I borrowed $1000.00 and paid back $1120.00 over time. Where else could you walk in and have that kind of deal completed in 15 min?
 10th of Apr, 2010 by   badnews24 0 Votes
is it really fair for a company to loan money to a family that earns at best
698 a month and really expect them to pay 399 on the third month's payment
how stupid can a company be as to blame the customer when they loaned money knowing the customer had no means of paying back. Its loans like this that have ruined this country's economy.This company has no regard to a persons income level or debt to income ratio
they simply are in the business of charging apr's as high as 251% with no mandatory principal reduction in some states. they claim to say they have low rates but 10.99 mpr is a terrible rate for 30 days.
 10th of Apr, 2010 by   Shannon36535 -1 Votes
why does the customer have no reposibility in this BADNEWS24? What kind of customer signs a contract on an account that they cant afford? It is amazing how people refer to titlemax and other companies as slime, and low class when it is the customer they are here to help for the 30 days. it says on every contract that this is the interest.. take it or leave it. responsible customers who know what they can afford and plan ahead by keeping this something short term have no problems with places like titlemax. i got my title back. i borrowed 1300.00 and paid 1650.00 over 3 months.

if the customer had other roads then take those but in my book if you sign a contract and dont honor that contract then your trash and a thief and lose the right to bitch when they take your car. same as if you didnt pay your house payment and they kick you out. you not having a place to go is not a reason to blame the landlord. that is why people in this country are going to hell in a handbasket.

grown up people.
 25th of May, 2010 by   Justice is Merciful +1 Votes
I think the thing about it is with a Mortgage Company if a person falls on hard times they will work with you for a while. But with these Loan sharks they wont bend at all. They are scum. They give loans with the hopes of taking a persons car away.
 26th of May, 2010 by   a2faye -1 Votes
Actually, repo'ing a vehicle is a pain. The paper work alone is enough to make you lose your mind. And should a car get repo'ed, you have about 3-4 weeks to REDEEM the loan and get the car back. And if the account isn't redeemed & the car sells for LESS than the loan amount, then the company still loses money.
Titlemax does not do a credit check. They do not ask you how much you make, etc. Therefore, they do not do a debt-to-income ratio. It is up to the CUSTOMER to know exactly how much they can afford for a payment. If you borrow $2500.00 & you chose to make the MININUM payment, then your first two payments are $275.00. The third payment is $400.00 because now you have to pay towards the priciple (this is in the state of Tennessee).
Can't pay $400.00? Then either pay a extra on the first TWO payments (anything OVER the mininum payment goes to the priciple at ANY time during the course of the loan) or don't borrow $2500.00 or pay if off in 30 days. The third payment is the most $$$ because you now HAVE to pay towards the priciple.
It is a PAWN.
If you pawn your T.V. & do not come back to redeem it, the pawnshop will sell it.
If you are late on your mortgage, they will work with you to an extent & for them to be able to do that, then you will need to stay in contact with them. If you ignore their calls and letters, I can promise you that you will find the Sheriff on your doorstep with an eviction notice and foreclosure papers.
The bottom line is this: If you make a loan, then you must pay it back or surrender the collateral you used to secure the loan.
 23rd of Jul, 2010 by   prego & mad2010 0 Votes
Yes I am mad also!!! Im 6 months pregnant and my hours were cut at work!!! I was behind on my payments and guess what? My car was taken!!! TODAY!!! Title loans are a bad idea!!! My loan was only for 600 but to get mt car back I have to pay 1400!!! I dont have the money so Im out of the only means of transportation that I have!!! PLease someone needs to make title loans illegal!!!
 26th of Aug, 2010 by   FairBanker +1 Votes
First let me say that I have never worked for Title Max, nor do I have any affiliation with the company. I saw an ad in my local paper for a manager position and thought I would Google them. I stumbled across this site. I am amazed at the attitudes and mentality of the people making complaints about this company. Let’s see - You go to a pawn shop and borrow money against your car using the title as collateral. Nobody else would ever loan you money due to your poor pay habits and bad credit. You were presented with all the legal paperwork (which you probably did not read, nor did you have someone that understands the legal language read it for you), most likely had the payment process and repossession policy explained to you in depth by the Title Max employee (although you did not listen or think they were serious), and now you are angry because you did not make the payments on time and Title Max wants to enforce the contract as written, meaning repossession of your car. Folks, this place is not a bank, credit union or your apartment complex, that allows you a grace period to pay late. Title Max is use to dealing with "dead-beats". Maybe a nicer term is "down-on-their-luck" people. In any event, the payment is due on the due date, period. If you elect to pay just the interest, your principle will not be reduced. Same with a interest only mortgage on your home. Surely you didn’t think someone was going to give you a 5% loan like you see advertised in the newspaper for a new car loan. That rate is for people with perfect credit scores and NEVER pay late. You should know that pawn shops in some states can legally charge as much as 600% interest. These high interest rates are allowed by law due to the high default rate on pawn type loans. Just look at this site and read the complaints. They all say the same thing, ie., I was only (xxx) number of days late or I told the Title Max employee I would be in next Thursday to make the payment that is due today. I bet Title Max hears these type of lies over and over again. They take immediate action to safeguard their collateral (your car). Once you become a payment problem, they are going to stay on top of you like flies on crap. Think about it - If you loaned out $1, 500 to a poor credit risk, wouldn't you watch them like a hawk? Especially after they start with the late payments. For those that say they would have never taken out a loan with such high interest rates, did you ask what the rate was when you signed the contract? You are smart enough to find this complaint website, but did you get on the internet to check out web sites with interest and payment calculators? If not, isn’t this high interest problem your fault? I hate to see a company (Title Max) providing a valuable service to the community being beat up by a bunch of ignorant people that did not do their homework. Your mentality - Just get the loan money and run. Will worry about the payments later. Before you call me cold and uncaring, think about if this was your money being loaned out. Title Max is not in business to be a charitable cause, nor do they care about your personal or financial problems.
 30th of Aug, 2010 by   LOU112165 0 Votes
This person refering to prego needs to go take a leap off the nearest bridge with his gutless attitude. Wal; in those shoes with your greedy ass but the interest fees are ridiculous and so unrealistic for those in hard times of unemployment when most loans would have been paid in 6 to eigth months with what they are paying. They deserve grace periods and with the economy like it is the Titlemax bitches don't help cicumstances they make it worse. Go fly a kite little boy!!!
 19th of Nov, 2010 by   a2faye +1 Votes
Wow, Lou, time to put on the big boy Underoos. If you borrow money, a company has EVERY right to expect to be paid back. Guess what, people? Banks and car companies like Ford Motor Credit are NOT required by law to give a person ANY grace period. Should a bank or company OFFER you a grace period, etc. it is at THEIR discretion, not yours. Everyone saying that they were ONLY 15 days late are not telling the WHOLE story. Did that person contact the company about being late or did they avoid the calls? Did they make commitments and then fail to honor them? The bottom line is that if you borrow money from Title Max, a bank, etc. they have every right to pursue you for the money owed or the collateral. The economy being tough or having hours cut is NOT the fault of the company. If you borrow money and cannot pay it back, then don't bitch and moan about having your vehicle repo'ed
 1st of Dec, 2010 by   Shannon36535 0 Votes
FAIRBANKER--- Thank god that someone gets it!!!
 2nd of Dec, 2010 by   keepit2urself 0 Votes
I borrowed money from Title Max in SC and had one terrible experience. My payment is due at the end of the month. Well the end of the month fell on a Saturday. I had my pay check but had not cashed it at the time. Well, Monday rolls around I get a call from of course Title Max. Well I tell them that on my lunch break I will cash my check and come by to pay. They wanted to know the excact time I was coming so I said around 12:30pm. Well I left work for lunch a little late so, I got to Title Max about 1:00pm. As I was going in to Title Max, my brother calls me and tells me they call him, and they call my dad too. So, when I walked in I was pissed and I asked them why did they call my family when I had already spoke to someone. They said that I was not there when I said and they had to contact me, mind you they did not call me back. They also said when you don't come in we will call other people on your list. They also called my father in law too. So any advise I can give make sure you pay them before the due date or they will embarass and harass the crap out of you. I KNOW I owe them money so I don't need any smart ass repiles. I just wanted to share my experience.
Pissed in SC
 19th of Jan, 2011 by   lglassist 0 Votes
I had a temporary set-back but was expecting money in 3 months so I (stupidly) borrowed $300 in Hueytown Alabama. Technically, I borrowed $500 because that is what they say is the minimum amount, so I borrowed the $500, cashed the check and immediately returned to them $200--making me owe $300. Anyway, I was never late until I was admitted to the hospital through the ER one night about 3 days before my payment was due. My mom tried to take the payment in for me and was told she must have a power of attorney signed by me to do so or they will not accept it so she brings the power of attorney to the hospital to get me to sign it. Before she could get back to the place they had called my brother and father looking for me! Both told them I was sick and they would be sure I called them back (neither knew mom was handling this). Mom did not make it back there with the power of attorney before closing so planned to go the next day. At this point I would be two days late when she got the payment to them. That night, about 7:30 p.m., an employee of Titlemax knocked on my door and mom answered. She demanded mom get me on the phone immediately because I "was not returning her calls". Mom told her she could not do that and the payment was being taken care of. The employee then sat in the driveway for over 30 minutes as if she were waiting on me. Both my children were freaking out in the house. Well, the next day mom decided to hell with this and borrowed the full amount for me from my brother and paid them off in full (they still gave her a hard time over the power of attorney but finally accepted it). My money I was originally expecting came in three weeks later so I paid my brother back and all was fine. DO NOT USE THIS COMPANY! I should have never done this and should have asked my brother to loan it to me to start with, but did not.
 19th of Jan, 2011 by   MM001 0 Votes
I have seen a lot of title companies work with people when they get behind especially around holidays and with good communication. I am glad you posted on here, so people will go some place else.
If they repo your auto and your only one pmt behind that is a good indication that the managers are cold heartless crooks.

Sorry this happened to you, go file Bankruptsy and get your auto back.
 19th of Jan, 2011 by   Shannon36535 +1 Votes
lets clear something up... filing bankruptcy on a title loan does not mean you will get your vehicle back. perhaps on an auto loan but not on an auto pawn which is exactly what titlemax is. there is a big difference between a loan and a pawn and the courts know it . You need to check with an attorney before you go to all the trouble of filing bankruptcy to get your car back only to find out you cant. Plus usually if they already have it you need to pay the balance in full or get your bankruptcy filled and approved by the court ( in the few states that this works) before the car is sold at auction if you have any hope of getting it back. Bankruptcy is not the answer . Paying your bill on time and keeping up with the contract you signed is.
 2nd of Feb, 2011 by   lglassist 0 Votes
When someone makes a concerted effort to pay the money they are supposed to pay and it is refused, I call them CROOKS! THEY REFUSED MY PAYMENT FROM MY MOTHER WITH ME IN A HOSPITAL. THAT IS RIDICULOUS!

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