I'm just writing to agree with the fellow from Tennessee. He's in better shape than I am though. Here in South Carolina they can and do charge 150% interest! I took out a loan with them in November for 5K. Crazy, I know but unfortunately due to a series of events including the death of my husband, I lost my good credit and had no where else to go. I also had every intention of paying it off within 4 months but things didn't work out the way they were planned.
Everything Brian said is absolutely true. They make it difficult and more costly to do anything. They don't accept payments by phone so if you find yourself unable to get there in time you can't avoid the added interest, nor will they accept personal checks. They only accept money orders and wire transfers from Western Union, both of which cost. They won't accept even a partial payment. So if you find yourself in some situation where you're short because you've had to put out unexpected money for whatever reason, you can't even show good faith! In fact they willeven treat you as though you're refusing to pay them at all as you stand there with half a payment in hand! You also can't make a payment at any Titlemax except the one where the loan originated so if you planned to pay cash on your due date and find yourself broke down on the other side of town, you're screwed again!
While I've never been called before my payment was due, I have been called on that day! They will try to pin you down on what time you will be in and if you give them a time and you're not right on time they will begin calling immediately. I learned that quick and refuse to give them a time and just tell them I will be there before they close for the day.
If you have any problem at all they speak to you as if you are the one ripping them off, it's incredible.
There was a timewhen people who got title loans might have been considered in a more negative light because obviously they were people with poor credit. Now no oneknows why any one personhas bad credit; they could just be a dead beat or it can be because of circumstances beyond their control. The problem is that back in the salad days, before our economy took a turn for the worse, Titlemax probably had a lot of dead beats for customers. (I'm not saying everyone who got a title loan back then was a dead beat so I don't want to hear a bunch of crap from insulted people) Anyway, Titlemax got use to dealing with those kinds of people and took a stance. The problem is that our economy has changed and therefore so have their clientle. So they treat everyone as though they believe from the beginning thatyou have no intention of paying off the loan. This is my opinion it's how I felt I was treated and how I told them I felt.
I hate the company, have them listed in my phone contacts as "THIEVES"! If I ever get this d*mn loan paid off you can be sure I will never ever use them again and I would encourage everyone to selltheir car for cash before getting a loan from Titlemax.
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