North American Title Loan charged me 200% interest on a $600 loan that cost me $2600 so far...
I'm Doing this because I am Stunned that an operation like this could be legal in the USA.
I originaly borrowed 600 dollars from this company against the title of my 1993 ford pick up. I thought i could pay that back pretty quickly it was just 600 dollars. They told me that the payments would be 200 dollars a month, what they didnt say is that was the interest only!
After I had payed them 5 200 dollar payments and saw that the principle was not going down i told them that ii could give them no more money they sent a tow truck and they towed my truck away. When I went to there office to find out where to go to get my belongings they were very incooperative, this made me angry and i yelled at him and poked him In the chest with my finger they called the police and i was arrested. They claimed that I assaulted them [2 guys work there]now I have 700 dollars in fines to pay.
Today i recieved a letter in the mail saying that if I dont pay them 1800 dollars that they are going to auction off my truck... Thats my story
Jimmy
Charleston, South Carolina
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