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Titlemax, Georgia Complaints & Reviews - outrages fees and interest rate

Titlemax Contacts & Informations

Titlemax

Posted:    virneekah

outrages fees and interest rate

Complaint Rating:  87 % with 87 votes
Contact information:
Title Max
Georgia
United States
Phone: 404-671-0838
I pawn my title thur titlemax. No one explain to me that i would be paying three or four time more then what i borrowed. i only borrowed 1200.oo and they have on my paperwork 152.08%. I'm 23yrs old and this is something that was not clear to me. I took this loan out in aug 8, 2008 and i have paid to day 2488.84 against a 1200.00 loan.
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 26th of Jan, 2010 by   Daisy Mariposa -1 Votes
You should have read the terms of your loan before you signed the loan documents.

If you didn't understand something in the loan documents, you should have asked questions.

It wasn't anyone's responsibility to explain to you that you would be paying so much money in interest. It was your responsibility to read the loan documents and ask questions.
 5th of May, 2010 by   Sheep12 -1 Votes
We too were dupped by Title Max. When we left we were under the impression it would only cost us around $200.00 in interest for our loan. After 4 months of interest payments all over $200.00 I finally disected the agreement. After everything is said and done we will be paying 1 and 1/2 times over the original loan. Sure it is all laid out in the agreement but the way the agreement is laid out you are LED to believe you are not paying outrageous fees. They are legal thieves like most loan companies only worse. Who in the world has heard of an APR of 158.04%?

The agreement has sooo many pages and disclosures that by just reading some of them you can tell they are not a very reputable company. There are at least two pages on what you can't do in court. They sure must have been around the block before.

We had no choice but to use them due to lost jobs and foreclosure, our credit stinks. The sad thing is companies like that take such a huge advantage and literally don't care. That's just business. The best thing we and anyone else can do is pay as much over the payment due as possible and get it paid off. In the meantime let everyone know just how greedy they are.
 22nd of Dec, 2010 by   Tiffany g 0 Votes
I too had a loan there and paid more than three times back. I did eventually paid it off but it took me two years to do that. I only borrowed 600 and paid back near 2000. They make it seem good and great . There is a lawsuit in order and im trying to find out how to get in on it. Others recived a form to fill out and return so im trying to find out more about it . I just tell anyone that has ever been robbed by them do the same.
 14th of Jan, 2011 by   most likely it's your fault 0 Votes
What makes them scumbags? Did you not ask for a loan? Were you given the money? If you didn't pay off your loan in a timely manner that's your problem. You should know going in that nothing is free. The states where these companies operate allow them to charge high interest rates. In most cases the state limit is much higher that what you were charged.

This is your fault not TitleMax. Ask questions and if don't like the answer don't borrow the money. If you have no other option other than to borrow from them, then make sure you can pay it back quickly. If you can't or don't pay then you're going to lose your car and your A**
 14th of Jan, 2011 by   koko_kitty -1 Votes
they should have explained it to you. but yes I do agree their rates are outrageous.
 7th of Apr, 2011 by   Booyou 0 Votes
Nobody reads it they rather have it explain to them by their representative but they do a bad job how they told me the first two or three payments goes to interest n the rest to principle..Liers
 3rd of Aug, 2011 by   rubereed 0 Votes
I understand what ya'll are saying it is a very high interest loan but on the flip side they make in bold letters how it's not a long term solution it's a short term solution and for me I took out a $400 loan out with title max at a 12.99% interest rate now that totals 51.99 0n the interest now if i pay that $451.99 within my 1st 30 days I haven't been ripped off but if you are paying over the course of a couple months that's when you are getting screwed but if your using it as specifically a short term fix the system is actually almost worth it.
 26th of Nov, 2011 by   cathyshort 0 Votes
My daughter was pregnant and in a financial bind, so as her mother i agreed to pawn the title to her car. I was informed of the interest i would be paying, but what i was not informed of was the harrassment! During a holiday the mail ran late and after 2 days they were at my house even though i had spoken to them the day before. I will never recommend titlemax to anyone! They have caused my ulcer to start bleeding again.
 12th of Dec, 2011 by   The Investigator in Georgia +1 Votes
I borrowed 2000 for my Vehicle from Title Max. I should have just gone to the Bank but it was short notice from the Funeral home and I had to have the money to them within a few hours. So I went to Titlemax for the short loan. They give you an amortization of paying of your loan in 12 months or 16 months. It is really not part of your loan paper work you sign. It is a BS! Looks sort of like a great deal and you only pay 25% the first 3 months and by Law 14 % after that. This is not true at all. It is month to month basis and it stays at 125% interest rate. The trick these people use is you have two ways to make a payment! First way is pay the minimum say at $250.00 dollars. The second way is paying $300 that pays interest and principle. So when you go in to make a payment they tell you it will be $250. Dollars and you make the payment, not thinking about paying on your Principle. That is you first mistake because your $2000. Dollar loan just jumped to $2150.00 dollars payoff. Title max will not ever say anything to you and they are very much annoyed when you want to pay more then what they want you to pay! Don’t fall into this TRAP! If you have a loan go in each week and pay anything on the loan to keep the original loan from jumping to a 125% interest rate to make you owe even more! If you can pay the loan off early DO IT and never GO BACK! These people are Legal Bank Robbers! Until Georgia Legislation gets off their Sorry Ass and Pass a LAW, you are screwed! I paid my Loan off. This is how it looked. I borrowed $2000. Dollars. Next month paid the minimum $225. Dollars, month 2 went in to make Payment and paid $225.00 dollars thinking it was also paying the principle when I asked her what payment was each time. I looked at paperwork and everything looked great, however it was not. I noticed next balance was at $2289.00 dollars and asked about it. They DO NOT LIKE YOU ASKING QUESTIONS ABOUT THE BALANCE. She said you need to pay on Principle too! I just acting nice and said Oh, I thought you were doing that when I asked how much was my payment. THESES PEOPLE ARE NOT WORKING OR HELPING YOU AT YOUR BEST Interest PEOPLE. THEY ARE TRYING IN KEEPING YOU IN A DEEP HOLE AND WILL LET YOU DROWN IN IT! So on my 3rd month I could have paid loan off but wanted to pay towards the principal and paid $350. Dollars to see what the balance would be. My balance was $2118.00. I could not figure out how they came up with this balance but knew something is not right with it. So 4th month went in and paid the balance off. I work for the Government or Attorney General’s Office and know every Representative for Georgia. So I am now going to work on getting a new Law passed to stop this Legal bank Robbery of Georgia People. Thank You Title Max for when I needed a loan for a Funeral but I also think your establishment is nothing more than a bunch of Thieves preying on people who are desperate, looking for ways to feed a family or children in need of funds to get by. I do hope my paper work will help pass a Law and it was what I needed as proof to get this started. ThanksīŠ The Investigator.
Oh to the smart people who want to give their opinion in saying you should have read the paper work, Please unless you have seen this paper work or have experienced it with these people, just keep it to yourself and FO because nobody really cares what you have to say and you are most likely they very same people who work for TtitleMax! Merry Christmas and FO īŠ
 26th of Dec, 2011 by   MsBehavin 0 Votes
I totally agree. My husband borrowed $1600 from them in 2007 and was paying them 265 per month and here it is 2011 and the loan is still not paid.They have received $12, 720 from us. So last month he stopped paying them so they can just come and get the vehicle so he can be done with them. They still have not came at the vehicle but keeps calling the references. It's sitting out there ready. This has really been a learning experience. It did not take this long to pay the auto dealer this amount of money.
 22nd of Feb, 2012 by   Dimple Dandy -1 Votes
Tell me about it...I borrowed $100, 000 for a house 30 years ago at 8% interest and paid over $250, 000. That's 250% of what I borrowed!!! I would be TOTALLY OUTRAGED if had not done the simple math (payment amount x number of months= total paid) before I signed the loan. Duh...
 16th of Jun, 2012 by   gloryb4 -1 Votes
Took out a $2, 000 loan with TitleBucks, a subsidiary of TitleMax in Georgia. I took out the loan in June 2010 and never did get caught up even though I was paying on average $300-$400 a month in nothing but interest. After two years of this legalized bondage, I decided to release the vehicle to them as I was no longer using it. I have such freedom from doing this because I don't have to worry about their harrassing phone calls or hoping they didn't come and get the vehicle in the middle of the night. I have sweet freedom from the and I regret the day I signed those papers. I agree they had a lot of turnover as I would not deal with the same person on a weekly basis. Just glad I got out.Feel so much better. I paid for the loan three times over.
 30th of Jul, 2012 by   candyapple 0 Votes
i got a 4600 loan from title max and what was explain to me is i was paying the actual loan back but when i went in to make my payment they toled me i was paying on the entrance i dont no how im a get my title back i dont have the money unless they let me pay on the actual loan they are completely a rip off
 21st of Nov, 2012 by   ICUCNME -1 Votes
Here's how you deal with these companies. STOP going to them ! Just like any other predator, they will not stay around if there is nothing to eat. I realize times are rough & the economy is in the crapper, it's the holidays & somebody out there has just got to have another tattoo or piercing . With this said, look beyond the immediate gratification and easy ( expensive) fix & see the problem for what it is & do not consider them as a solution. After all, if they didn't exist, what else would you do to remedy your situation ?
Either way, I hope for the day when these predatory lenders are put completely out of business in every state & people start living within their means & not for a new set of rims.
 29th of Nov, 2012 by   fmtmc +1 Votes
Wow, do you really think people are putting a lien on their title loans for rims? Obviously this is a last resort! It's rough in this economy. What do you do if you lose your job, get sick or hurt, or in an earlier commenter's situation, your family member dies? This company preys on desperate people with no where else to go. This forum is not to disparage a business, it's to inform potential customers of their outrageous practices. This company is currently a $64 million/ yr business. They would still be making loads of money if they charged reasonable interest rates.
 11th of Mar, 2013 by   jporter662 +1 Votes
So the truth of the matter is that quick money is NEVER cheap. Why complain about something that apparently you needed but couldn't get anywhere else. Bank rates are ALWAYS cheaper than advance loan companies, but people who go to the loan companies usually have bad credit and can't get offers from banks. However, it is not the end of the world. Three things you can do when it comes to borrowing money:
1. First work on your credit, clear your name of any delinquent account and raise your credit credit BEFORE borrowing any money
2. Get your old debt consolidated, this way you only have ONE large monthly payment versus several small bills
3. If you're not able to do either of those, then suck it up, take the fast cash and apply extra each month so you can pay the loan off sooner. You never pay interest on money you don't owe. So if you pay off sooner, you'll owe them less faster. :)

Hope you have learned something and more importantly, LIVE WITHIN YOUR MEANS! ENJOY YOUR LIFE.
 28th of Mar, 2013 by   (Roz) -1 Votes
I need help with a title pawn understanding, I am very poor.. I just found out that my boyfriend had a pawn from 3 years ago and we can not afford this $216.44 minimum interest payment each month. I am now trying to figure out how the interest rate jumped from ( %10.99) as Mr. Rod Jones explained to me today Thursday 28 March 2013 of Title Max in Augusta, Georgia on Washington Road near Bobby Jones Expressway...roughly today's .$2185.83 balance ($216.44 fees and charges interest payment)...when the contract on June 2010 signed says %133.71 annual percentage rate with $252.77 finance charge, with Amount Financed $2, 300, and Total of Payment $2, 552.77. I am trying to understand all of this, and I am new to all of this. The Maturity date is 04/28/2013 and the total amount due for next payment is $2, 185.83. I made the payment for my boyfriend yesterday and refused to sign the complicated customer receipt because I did not know about any written disclosure ticket. Mr. Brian Pringle accepted the payment of $216.44 after I called my boyfriend on the phone to find out the amount I should be paying since I had $240.00 to pay, but could not understand how this was helping pay down this very large loan... The next day I drove my very ill boyfriend in the pollen to the office (he has COPD, EMPHYSEMA, SLEEP APNEA, NEEDS OXYGEN, USES AN INHALER, HAS NEBULIZER, AND CAN USES A WALKER) to get my name on the account to get account information to ensure that I could get the title in my hand if I paid off the title max title pawn, and I also wanted to ensure that I could ask questions about the account and pay on the account. My boyfriend told me that he never received $2, 300 which is the amount financed, the contract says he received $957.62. I am trying to understand all of this because my boyfriend is gravely ill and has trouble getting around now and needs lots of help. IS IT REALLY TRUE THAT HE ONLY RECEIVED $957.62 and $1342.38 was paid on his account with TITLE MAX for this TITLE PAWN? Please help me out...my email address is calciumzc@yahoo.com and my name is Roz...Please help me if you can. Thank you very much. today, I called the Georgia State Attorney at 404-656-3300 around 4:30pm and talked to nice lady Lillie who told me to call Industrial Loan Division at 404 656 2078, but that was just a voice mail offering after 4:50 pm today, Thursday 28 Mar 2013...I will try again on Friday. ...I believe that I will have clear understanding of TITLE MAX ttitle pawn in the future, but I do not know the CORRECT PROTOCOL for finding out all this complex information figuring this %10.99 interest rate. I am very poor and need serious help as my boyfriend has paid, I believe he has paid ROUGHLY $7, 200 on $957.62 borrowed...could this really be correct. Tomorrow I will ask for the payment dates to figure out this amount and try to calculate this interest rate. I am not an accountant, so this will be like untangling cold mashed spaghetti with a spoon!!!. Please pray for me I am going to ask them to release the title to me because I feel that the interest rate is really ($751.86% INTEREST) well over the (%10.99) explained to me today by the general manager Mr Rod Jones. .. ...Please help.Roz at calciumzc@yahoo.com. Thank you very much for assisting with this PROTOCOL of information gathering.. Roz at calciumzc@yahoo.com...
 14th of Sep, 2013 by   Cjaysgrl 0 Votes
I too am dealing with these rip offs. The problem I have is that they don't except partial payments. The reason I think that this is not allowed is because then they can't charge that extra $4.00 a day late payment. Since taken out the loan two of the employees have quit in a matter of months apart. I wonder why. I just want to be done.
 3rd of Jul, 2014 by   CRYSTAL MCKEE 0 Votes
Suck it up and live within your means?? Wow, could you folks be any more insulting??

I am a single mother, not by choice. Right after I found out I had cancer, my husband presented me with divorce papers. I ended up homeless, jobless, fighting cancer and then my car broke down. When I was able to get another car, a used, but decent, car, I had to pawn the title as I never received a dime in child support and NO ONE AT THE STATE LEVEL WAS DOING ANYTHING. He was able to blow his money, get drunk every night while my kids and I slept in my car and ate at a soup kitchen. I have no family, no friends as I was alienated from them while I was married, and I had to declare bankruptcy because going through chemo meant I wasn't able to keep my business alive. I quite literally HAD NO CHOICE but to take the ridiculous loan.

Oh, sure, just take your extra money you have lying around and put that toward the payment! Simple, right? I don't even know what "extra" money is. I have worked full time since I was 15 years old, and I take care of my kids, but I don't' have anything "extra".

Some of us don't have those options, so please quit minimizing our problems by assuming that we all overspend and landed ourselves in this crappy situation. We're complaining because they TAKE ADVANTAGE OF THE DESPARATE WHO HAVE NO OTHER CHOICE AND THAT IS REPREHENSIBLE.
 3rd of Aug, 2014 by   lavetta1963 +1 Votes
I found a title pawn that will payoff my loan with title max, but they will not take it.the title pawn offered them $1500 on my truck that is old.I took out a loan a year ago was paying them but now it is late and too high this title pawn wants to help me start fresh with them at a lower cost to me that I can afford every month .But title max do not to take the money that the other title pawn is offering what can I do is, there anyone that can help me with an answer.need help!!!

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