Titlemax Texas Falsified Verbal statement to loan terms misled Loans terms North Richland Hills Texas
Personal use deceptive loan tatic when explaining the terms.... As Explained to me that the intrest had to be made first then after you mrt that you could take as long as needed to repay the loan.... What was not explained it would renew every month at an astondonding 175% intreaset rate monthly. They only give you verble agreements and everything is done with electronic signing with no copies givin and only accept cash. You Have to go home and download contract terms then read over them. In Shock as to what you just got scammed into.
3 Updates & Rebuttals
Robert
Irvine,California,
USA
Typical Subprime Mantra
#4Consumer Comment
Sat, March 25, 2017
If the terms were so important to you then why didn't you make sure you got them BEFORE you got the loan? If they refused to give you anything on paper then why didn't you just turn around and walk out?
Again the answer is simple. Because of your history not a single regular lender will touch you. You couldn't get a loan or a credit card from a regular bank if your life depended on it. When you thought you "needed" the money you would have signed anything...even IF they gave you everything you said you wanted. It is only after the fact that you have a case of "borrower's remorse".
If your next statement is "Well if I had known, I would have found another way to get the money". Then don't bother. If that was really the case you would have done more checking into the fees and interest.
By the way it took me about 30 seconds searching their site to find the fee and interest schedule for Texas. Oh and guess what. I didn't even have to apply for one of their loans. Just like you COULD have done if you really were so concerned about the Interest rate.
https://www.titlemax.com/texas-occc-notices-and-fee-schedules/
No Written Conditions On Terms
#4Author of original report
Fri, March 24, 2017
If They Were A Fair Practicing Firm The Would Have Printed Material Stating Terms..... They Do Not.
Nor Do You Leave with a Printed Receipt Of Details. Your Right They Are an Unscrupulous Company praying on people down on their luck... I have contacted The State Attorney General On the Matter.
TitleMax also Leaves bogus Feed Back On Multiple Sites and Even File bogus Rebuttals All Of Which I have Sent Forward.
Time for a change in the way they conduct Business.
Robert
Irvine,California,
USA
So
#4Consumer Comment
Fri, March 24, 2017
So when they said that you had to pay the Interest first did you actually ASK what that interest would be? When they said that you can have as long as you want did you actually ASK exactly what happens if you need longer to pay?
The answer to both of those is of course not. Because of your poor credit(reason doesn't matter) you ended up at a Title Loan company because no regular lender would touch you with a 10 foot pole. Nothing they told you was incorrect. You do pay the Intrerest first..yes it is A LOT of interest. Then yes you can take as long as you want because it does keep renewing. But even if they did tell you everything you would not have cared because you wanted the loan. It would have only taken you longer to complain after you realized you have already paid them back (for example) $500 on a $500 loan and wonder why you should pay them any more than you originally borrowed.
So the answer is simple...to minimize the Interest just pay off the loan immediately as you were planning to do...right?