- Report: #1437011
Complaint Review: Loan Star Title Loans - Wichita Falls Texas
Reported By:
Katherine -
Wichita Falls, Texas, United States
Submitted:
Updated:
-
Author Confirmed
Why?
Loan Star Title Loans
3310 Kemp Blvd Wichita Falls, 76308 Texas, United States
Web:
Www.loanstartitleloans.com
Categories:
Business Rating:
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Loan Star Title Loans Integrity Funding, Well shire Inc. The Hartford Casualty insurance company. Breach of contract, violated Texas Financial Code 393.01-a, as well as Title 2 chapter 17. Subchapter A sections -8,11,23,24- Wichita Falls Texas
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I apologize I'm advance for the lengthy re port. {December 2, 2017 I went to Loan Star Title Loans and took out a title loan for the holidays in the amount of $700.00. There contract consist of a 150 day term. They break the payments down into 5 Monthly ones. {December 21,2017 I payed off the title one that I originally took out. The interest cost is outrageous. But yet it was close to Christmas and I took out another loan with the company. This time for $1,000. Same thing 150 day term, broken down into 5 payments. From December 21 to February 26 my full pay off costed me $2906.10 to get my title back. {Which took 5 business days because they sent my title to corporate. This is when my attention started focusing on the contracts after I was told I couldn't get an itemized break down of how much interest I had occurred each daily. {I read from front to back, back to front of the contract. I found the Apr rate I was being charged was not the right amount. I was being charged 10% multiplied by my unpaid balance for EACH DAY that any amount remained undue to the lender(loan star). Instead of paying my loan out over the 5 months,150days. I paid it in 60 days $2906.10. It clearly states IN THERE CONTRACT that there will not be a penalty for paying the loan off early. And if you fully prepay the loan, we will refund to you the unearned portion of this CSO fee from a daily, pro rata basis.
When I payed my loan off I received a receipt just stating where the money was applied to. And then a second receipt. {Saying that $1,333.84 had been applied to the principle. And at the bottom it said credit memo vs cash. So I did the math and took what the total would have been had I payed over the 5 months $4269.35. Took that number and $2906.10 and subtracted the difference and got $1363.25. Which I believed I am entitled to for paying my loan off in 60 days and not 150. They pocketed the $1363.25 after I paid $2906.10 for 2 MONTHS. And it clearly says in their contract a BORROWER is entitled to the difference in which was paid off early.
Do not go to this company. It is a complete scam, they talk to you as if your beneath them. I asked for a paper trail of my money and was told they are not allowed. Which is going against my Fair act right. There was no manager in the building! Anybody reading this I need a lawyer. I hope my feedback gave some reconsideration towards the company. Good luck and God bless.
