I have been going through a divorce, my savings was depleted and borrowed as much as I could from family members. I was hurting pretty bad financially. Decided to take out a title loan with Wisconsin Auto Title loans. Bad idea!
In order to keep my utilities on and feed my children thought it would be a good idea. Thought to myself no problem paying that small of a loan back. WRONG!
My principal balance was $664.00. I thought I would have time to pay this back. After signing all the papers and handing my car to them. She tells me it must be paid in full within 30 days. At that point I was dumb founded and didnt no what to do.
Being very desperate I left the loan place cashed the check and paid what I could on my bills. The 30 days were'nt even up yet and they began to call me asking when I was coming in to pay it. I said I will mail it in thye said no you must come in and pay it.
One week before the due date they must have called me 50 times. Maybe it was wrong of me, but I refused to pay it. I knew what would come of it eventually. Well 6 monthes later they took my car.
Today I received a letter from them stating they have my car, and in order to get it back i needed to pay the principal, all interest for 6 months and any fees for repossession. On a $600.00 loan they want $2117.36. $280.00 was repossession charges. The rest was the loan.
Do the math, that is over $100.00 a month in interest. I believe in the state of Wisconsin this is illegal. We need to put a stop to companies like this. Taking advantage of people that are down and out.
I am going to try and do my part and help people that are in the same boat as me. I am not only filing this report, But I am going to file a suit against them. Please everyone if you have been screwed by this company let it be known.
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