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Titlemax Complaints & Reviews - Fraud and cheating

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Posted:    Mickey

Fraud and cheating

Complaint Rating:  97 % with 29 votes
Contact information:
United States
Im in the mortgage business so I know a little bit about the term 'predatory lending'. And being in the mortgage business I have had a very tough time financially in the last year or so. During that time I took out a title pawn with TitleMax...

This company is the very definition of predatory lending. The means they market themselves, the very unclear disclosures of how their system works, the strongarm tactics used to collect payments, etc...

These are absolutely predatory lending practices! I don't see how the government can be so highly regulatory of the mortgage industry to 'protect the innocent borrowers' but companies like TitleMax are profiting so high and expanding so fast off of these predatory practices it makes my head spin.

I have seen the arguments from employees and/or ex-employees on here saying 'no one forces people to borrow the money'...well, thats not true, hard economic times and emergencies force people to borrow the money. Just as it forces people to refinance their homes and allowed predatory lenders to take advantage of people with excessive rates and fees, causing people to lose their homes at astonishing rates until the government cracked down on predatory lending practices. Just because someone wants/needs money doesn't make it right to outright take advantage of them.

The government can and does regulate lending in the mortgage business and protects against predatory lending practices. This same regulation needs to be in place for predatory lending practices for these title pawn slimeballs! If it was a bigger national issue and in the media then legislation would have been passed against these dirt bags a long time ago if politicians thought votes depended on it!

I remember not long ago Ameriquest Mortgage was a GIANT in the mortgage business...then the government smacked them with around $350 million dollars in federal fines for predatory lending practices, not to mention millions in class action suites from their customers. This type of action NEEDS to be enacted against these predatory crooks!
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 1st of Apr, 2009 by   Margaret Ruddock -1 Votes
Titlemax is predatory lender I agreew ith you. But the state loves them. I intend to start a class action against they in Georgia. They have to go out of business or change. THey harrass. abuse consumers and the Federal laws allow this to go on. Threy must be stop. Together we can pool and picket them and force they to close of do better. Business bring in revenue for the state BUT it should be decent business that is profitable to the state not corrup, predatory, abusive, lying cheats crude and rude business people. Georgia cannot continue to do business with a corrupt company like Titlemax. It has to stop.
Let me know if we can rally and pictket them..they must made a change.
 24th of Dec, 2009 by   Titlemaxsux 0 Votes
I also fell victim to Title Max. I am going to pickitt them and would also organize a class action law suite against them. How do we get started. Contact me at dfharrison67@comcast.net
 27th of Dec, 2009 by   jonw1983 0 Votes
Wow... To the 2nd poster, I would invest my money into some kind of reading/writing program for the illiterate. And as far as predatory lending and harassment, why would you ever feel that way? Because I know you never hear from them unless you are late on your payment. And one thing you also fail to realize... Do you remember when you did your loan? Did they run your credit? Did they see what kind of previous pay history you had? No. Basically, you came to them in a time of need and they fulfilled your cash needs. The way these loans works was right in front of you but I've noticed mostly when you are trying to explain this to pepole, it goes in one ear and out the other, because all they see is their temporary financial needs being met. Usually they also fail to hear the "No Grace Period" that we always close every loan with. And we just ask you to follow 2 expectations. They are: 1. We have no grace period, therefore payments are always due on or before the due date and 2. If payment cannot be made on or before the due date, you must get in contact with us to discuss the options you have on the account. Not very hard expectations to understand. So considering that our type of company usually deals with the bottom tier of credit, we have to get in contact with you to make sure we get our money back we lent you. NO we don't work like banks. They pull credit and give loans based upon your credit, your income, your job time, etc... So why didn't any of you who were "duped" by Titlemax go to your bank? Credit union? Family? In most cases I've seen it's because they've already lent you money and you've failed to pay them also. So why be mad at us because you made bad choices? Because in reality, you came to us. And we helped you when you obviously saw no other alternative. So now when you don't pay your bill we become the bad guy? Maybe it's time to take a good long look in the mirror to find out who the real "bad guy" is.

P.S. The government has started regulating us. Tennessee has passed state laws governing title loans.
 8th of Jan, 2010 by   mad-one 0 Votes

So what you are saying is that if someone is drowning it is perfectly OK to charge them thousands of dollars for a life jacket, as long as you explain it to them first. Because they couldn't get it anywhere else and were deadbeats in the first place... You are working for the right people brother, A real Human being...
The truth is...Title Max is a legal loan sharking operation, plain & simple. 158% interest (and that is over & above the original loan amount) is wrong for anybody, legal or not. If you are comfortable with that, then I have pity for you.
You will come to find out that when TitleMax is tired of you...you will be gone in the blink of an eye.
These people do not care about anything except stealing as much money from the public as they can, in as short a period of time as they can. They are the scum of the earth and their employees are selling their soul to the devil for a bi-weekly paycheck.
Tennessee will never pass strong legislation against this type of predatory lending because there is too much money being spent to lobby to keep it alive...and that is tragic.
I would not go near a TitleMax for any reason...I would pan-handle on a street corner before I would give these vultures my automobile...and they will take it in a heartbeat.
Stay away from TitleMax like it was the plague...because they are worse.
 11th of Apr, 2010 by   jonw1983 0 Votes
Really? I'm glad we can cross-reference my personal morals towards saving a life and lending money. Do you honestly think I like to take people's vehicles? Do you really think at night when I lay down to sleep I dream of ways to screw up people's lives? Maybe your automatic assumptions of people and their personal beliefs makes you feel better at night. I don't know. But, I can promise you one thing. I will be one of the first people to tell my customers my rates are high. And, should I neglect to do so, the contract states it for me. I work with any customer I can, as long as they are willing to work with me. If you give me your word you will do something, the honor that. Don't lie to me. Don't cuss me and tell me how you feel about me because your life is hard. Do you think I don't have my own personal issues? But I do not take them out on people. If anything, I understand what my customers are going through. But the bottom line is this. If you enter into an obligation, no matter what it is, and you fail to fulfill the obligation knowing the consequences of such, how can you be mad at anyone but yourself? And as far as why do I do this job? Do you watch the news? It's a recession. And honestly, I like my job. And my customers like me. In two years with the company, I've had one complaint. And it was from a repossessed customer who was 20+ days late every month for over a year and went 40+ days late when he was repossessed. And honestly, I would have worked with him even further than that until he dodged phone calls for 40+ days then called my office to call me a MF 25+ times. So yeah, I guess I'm that morally inadequate a**hole you described. Or maybe it's fear that they don't complain huh? Either way, until you deal with all employees over the 500+ locations, don't make assumptions especially based off a post to someone who complains because they don't pay their bills. I've gotta pay mine. So why is anyone else any different. If I don't pay my credit union (yes, I maintain my credit at 26 years old) they will take my truck. Simple as that. But yeah, they'll give me a grace period because they checked my credit prior to giving me a loan and know I have a good repayment history. Not the case with our loans. So, in the end who's fault is it? And to compare this to your drowning analogy, if this scenario was a drowning person, I guess banks and credit unions would be a cheap life jacket. So why didn't you grab their life jacket? Had you screwed them over so many times they weren't even willing to throw you a life jacket? Then I guess that means at least we were willing to save your life. But if you wanna say that, do you get on here and complain about everything? McDonald's for obesity and heart attacks from elevated cholesterol? Tobacco companies for cancer? Hospitals for charging thousands of dollars to do what? Save your life? But we all have a choice in all of them. We don't have to smoke. We could eat salads everyday. Hell, we could even request a DNR (do not resuscitate) if we do not want the hospital to save us (prior of course). And we don't have to use high interest loans. But it's a matter of choice. Isn't that what democracy and capitalism is all about?
 5th of May, 2010 by   Sheep12 0 Votes
To jonw1983. I want to make a comment on how you portray your customers. I am a customer and was very put out on your comments. Up until 3 years ago we were like most people, had good jobs, owned a $250, 000 home in the country with 2 wonderful children that by the way, were on honor rolls. My husband happened to lose his job due to anon the job injury and was replaced before his doctor released him to go back to work. We could have sued the company and made a killing but we decided not to. He could go and get another job. Guess what? The economy had fallen and no jobs to be had. My employment could not pay the mortgage and feed us so guess what. Foreclosure. In the meantime trying to secure employment bills paid were utility and food to survive. What does that mean? Poor credit from the none survival necessities. We lost literally everything we had worked for. Not only our farm, but livestock, the tractor and our car. The dominoes were falling. We moved out of state and have started completely over. The problem is our credit is still bad and the economy still sucks. We are working again but not making much money at all. We have become true survivalist. No cell phones here, no cable or satellite TV here, thank the Lord we have a spring for water. We try and keep our internet going for our son who makes some money off of (college money). Everyday is a struggle, one that I have not been used to but am now.
We are not dead beats or dumb or illiterate, just good moral people trying to survive. We needed extra money to pay the high electric bill (Dec. time, we had to use space heaters) my husband was working too much and could not get out to cut firewood for our wood stove. We also had to buy several loads of wood (not cheap). I believe our situation is only temporary and we will pull out, but needing the extra cash to survive and being duped by contracts that are deceiving does not make it right to take advantage like your company does. A fast talking salesperson can talk anyone into anything. Tell it like it is and see how many people still go for the loan? I'm happy you like your a job, that's great, I'm happy you have a job. But you can't make me believe you have a conscience, sorry.
We got caught up in this mess and will get out eventually, but it makes me sad to know a young man of 26 is so willing to screw over people that have had some rough roads to cross. I honestly pray you never end up in our situation.
 13th of May, 2010 by   95faithful -1 Votes
I never been to a titlemax but i pray for those who do, we have had hard times people just trust god cause they are not there to help u only to hurt u.
 30th of Aug, 2010 by   LOU112165 0 Votes
I had to deal with these jerks once and my loan is paid in full but I know someone that got screwed by them as well. They tried it a couple of times with me but did not get away with it. They will tell you that they have set you up for a grace period and then they put in on whatever date they want to. This happened to this person by them putting the date for two days from the time they spoke and it was supposed to be one week. They repossed their car and the kid is out of $1200 dollars and a car and they want $1600 for the pay off of a $1600 dollar loan. Mind you he has already paid $1200 dollars. Ooh and the Manager of the store was soliciting information from the boy about the whereabouts of another customers car. THIS IS UNLAWFUL BASED ON THE PRIVACY ACT TO DISCUSS ANOTHER PERSONS ACCOUNT!!! TITLEMAX YOU WILL GO UNDER EVENTUALLY WITH YOUR DIRTY DEALS AND CRUDE EMPLOYEES!! HELL HATH NO FURY THAN A WOMAN SCORNED!!!

 29th of Dec, 2010 by   Mrsec46 0 Votes
Yes, that little shithead, soon he will be in the unemployment line and Titlemax will be out of business. I hope that he never has to fall upon hard times during this recession and depend upon unemployment benefits that pay half of what you made on your job at titlemax, that may or may not be there and availaible to him. I would never work for a company such as this, my morals would not allow me to sleep at night knowing what they are made of
 13th of Jan, 2011 by   unwilling to compramise my integrity 0 Votes
I also work for Titlemax and I reported my Store Manager for (what I considered) taking advantage of customers beyond what the company already does. Guess what? Within 2 weeks my position is posted on every job site including our very own corporate one. When I confrunted both my store manager and district manager, they both denied it being posted as if my eyes were decieving me and the calls of interest that speicfied my position were figmints of my imagination. Not only do they take advantage of the customers but their empoloyees as well. I wouldnt reccomend going into a Titlemax for any reason, loan or employment. They are a cut throat company and should be shut down! I am still employed there but its only a matter of the time it takes for them to hire someone in my place or for me to find something different, which ever comes first.
 15th of Jan, 2011 by   Mrsec46 0 Votes
Customer Complaint History for TitleMax When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB processed a total of 1 complaint about TitleMax in the last 36 months, our standard reporting period. Of the total of 1 complaint closed in 36 months, 1 was closed in the last year.
Contract Issues
1 - Company failed to resolve the complaint issues through BBB voluntary and self-regulatory process.
Well, this is a start and if all of the people who have been wronged by Titlemax will speak up then we can all get something accomplished against this company!
This is the same generic response that Titlemax sends to the better business bureau: ( This matter will be investigted and dealt with appropriately.
Thank you for bringing this matter to our attention'
As always TitleMax continually strives to provide excellent customer service to all of our customers)
Titlemax would rather be placed on the better bureaus site for (36) months by failing to resolve any customer complaints or even answer any customer complaints or allegations against their company.
I still encourage anyone or if you know of anyone that has been treated unjustly by this company to also file their complaint against titlemax and if we make more people aware then their business will suffer considerably!
 12th of Jun, 2012 by   Cliffsings 0 Votes
I need cash for a medical emergency and I was considering using Titlemax. After reading all the articles here, I sure changed my mind. It sure seems like a legal loan sharking operation with a very strong lobby in Washington to support these vultures. Sorry that this is what has become of our great USA. Very sad!!!
 14th of Jul, 2013 by   jp64 0 Votes
I got a loan through titlemax late on one payment and they toke my car last night. What can be done? I sm a single person working a 10 dollar an hr job. They toke my car so now how am I suppose to pay them or get to work. Never seen such a rip off and wish I hadn't taken the loan. Their interest rate is like crazy...600 loan and paying back over 1800.
 17th of Dec, 2014 by   bobo2626 0 Votes
Titlemax is a horrible company!!! I was an Ex-employee and they treat their employees just as bad as their customers. Please I am begging you to not use them; they are a horrible Business. I was employed with them for a little less than 1 year the practices they use are not unethical but are very illegal. If you need any insider information for you lawsuit I am more than willing to help. This company fired me for job performance when I was in placed in a store after their 3 month training program. I was the General Manager of this location for 9 months in the 9 months I was GM I was in the store by myself with no employees for 6 of the 9 months and unable to get out and market to grow the Business. In hind sight I am glad I did not grow the business for them and wish I could save more of their customers from them, as they do not deserve to be in business. I had never been written up and had excellent attendance. They came in and fired me without warning 3 weeks before Christmas and held my bonus check from the prior month. What a horrible company and I really hope karma comes back to them.
 17th of Dec, 2014 by   bobo2626 0 Votes
Sorry previous post should have said are both unethical and very illegal

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