TMX Finance LLC Consumer Loan Complaint

TMX Finance LLC Consumer Loan department,

Vehicle loan Problems when you are unable to pay Problems when you are unable to pay Texas

I want to make a complaint against TitleMax - - -. I feel that title loans businesses should and they must be regulated. These types of businesses are taking advantage of consumers. With the shaky economy this type of loans have become popular ; however they need more regulation and control from the federal government as they do with for example, loans from banks. I, as a consumer feel that I was taken advantage and I have been another victim from title loans companies. Briefly I will explain. In - -, I found my self in a family emergency, therefore, I went to the TitleMax office located in - office. I got a $1900.00 Loan and the interest was 181.5559 % annual rate. By - -, - my principle balance was $4800.00. Over the life of this loan I paid from - - through - - over $11000.00. The balance of the loan never went down. The following chart shows the amount of each payment that I made ( see attached chart ) It did not matter how much the interest rate was the amount of payment was the same or more over $ --.It they said that they lowered


gave was that the policy had to have the specific clause " LOST PAYEE TITLEMA-. '' I spoke with different auto insurance. They indicated that the normal and usual phrase used in today 's policies is " LIEN HOLDER TITLE. '' They further explained that it referred to the same meaning. I even requested for a - - - representative, - -, Manager of the Title Max Office referred above. However, Title Max Manager told - - - representative that I could not purchased said auto insurance because their policy referred to " Lien Holder '' and not " Lost Payee. '' I wanted to purchased my auto insurance else where to lower my payment with Title Max, but they did not allow it. There were times that I attempted to pay interest only with out the insurance and they also did not allow it. The last time I spoke with - - about the insurance, he treated me to take my vehicle away if I did not signed a blank form of Voluntary Reposes. He did not let me leave Title Max office until I signed it. My daughter was with me and she got afraid that - - would do something physically to me or her. - - even came to my home at different hours early morning late at night to knock at my front door, if would not leave until the door was opened and I spoke with him. My wife was afraid that sometime might happen to me. I am a - years old man with a - or less. Sometimes I have trouble walking and I get short of breath. When I started having troubled with my title loan was after my daughter passed away in - -. I paid Title Max over $11000.00 in only interest, and I still lost my vehicle. Please if you can not help me, then help me stop title loan business from taking advantage of consumers. These type of loan business are worst that banks. The federal government protects consumers from banks taking advantage of consumers. Why, then, the federal government does not regulate payday loan and title loan business from taking advantage consumers. Why are payday loans and title loans business given the right to call you? Why are payday loans and title loans business given the right to call you at all times? Why are payday loans and title loans business given the right to hunt you at your home at all times? Why are payday loans and title loans business given the right to coersed you to signed blank forms? Why they are given the right to charge ecessive interest?