TMX Finance LLC Consumer Loan Complaint

Vehicle loan Problems when you are unable to pay

TMX Finance LLC Consumer loan department,

Vehicle loan Problems when you are unable to pay Texas

I contacted Titlemax of Texas d/b/a Titlemax to obtain an auto title loan on my -/-/- chevrolet silverado - L/S pickup for the sole purpose of paying off a title loan from another auto title loan business and used to proceeds of that loan to pay off existing financial obligations. The representative at Titlemax approved me for more than I needed telling me that the interest rate and monthly finance payment to refinance the loan were cheaper. So I proceeded to take out the loan, unknown to me at the time I had to pay the entire loan back within the next 30 days or pay the refinance fee plus daily interest and late fees if the payment was made within 10 days past due. ( FALSE ) Titlemax started charging me daily interest on the interest the loan accrued after the payment due date, resulting in a higher payment to refinance the loan. I asked Titlemax if I could pay the loan back in installments to pay the loan off, they refused. I asked Titlemax if they accepted partial payments on the loan again they refused. I asked Titlemax what were my options, they stated pay the refinance fee


they know I ca n't pay back in 30 days due to the fact I am - and on social security. This action is in violation of the TE-AS USERY LAW. Neverless to seek a resolution to this situation I unwillingly surrendered my pickup to Titlemax of Texas to relieve the burden of the phone calls requesting payment of the loan. When I surrendered my pickup to Titlemax they requested me to sign an agreement with them allowing them to dispose of my pickup without notiftying me of the date and time of the sale. I now have 14 days from -/-/- to pay the loan balance plus daily interest, plus late fees plus the refinance fee and daily interest or they will proceed to dispose of my pickup without notifying me of the date and time of sale. PLEASE HELP ME!!!!!!!!!!!!!!!!!!!!!!!!!!

TMX Finance LLC customer in Texas
Apr 22, 2015

* Source: CFPB Complaint Database

TMX Finance LLC response to complaint:
Closed with explanation

Consumer disputes how TMX Finance LLC handled their complaint

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