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Titlemax, Georgia Complaints & Reviews - outrages fees and interest rate |
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outrages fees and interest rate
Complaint Rating: 
Company information:
Title Max
Georgia
United States
Phone: 404-671-0838
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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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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. |
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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. |
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| 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. |
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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** |
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| they should have explained it to you. but yes I do agree their rates are outrageous. |
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| 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 |
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| 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. |
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| 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. |
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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. Thanks 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 |
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| 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. |
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| 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... |
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26th of Jan, 2010 by 
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