ComplaintsforLoanMart
Title Loans
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Complaint Details
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Initial Complaint
09/20/2022
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
I took out a title loan with 1800 loanmart and the price of interest is way higher than agreed on also no mater how many payments the balance stays the same I've called trying to resolve this matter but they all act as if they can comprehend what I'm saying please help me I'm on a fixed income and can't keep paying this and it's not even going down also it's supposed to be a 6 month contact but it's 3 years nowBusiness response
10/18/2022
Business Response /* (1000, 5, 2022/09/30) */ Enclosed please find response. Consumer Response /* (3000, 7, 2022/10/03) */ (The consumer indicated he/she DID NOT accept the response from the business.) That last part talking about high loan was not in there also the interest is way to high Business Response /* (4000, 9, 2022/10/06) */ Enclosed please find response to rebuttal.Initial Complaint
09/17/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
This company is reporting false inaccurate information to Experian. I also found that my interest is not allowed to be no more than 24% by Florida law . Mine is 178.47%! Which exceeds Florida's rate caps. They are using usury which is illegal. They have not followed Florida law requirements to process such a loan and their website is very misleading. This is a direct violation of the Florida law and my consumer rights. I ask that this account be removed from my credit file or legal advise will be accessed.Business response
10/19/2022
Business Response /* (1000, 5, 2022/10/04) */ Thank you for taking the time to share your experience, Ms. ******. Please be advised that LoanMart, on behalf of CCBank, has also mailed the response to the address provided.Initial Complaint
09/17/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
I obtained a title loan from loan mart July 2022 **************************************** I later learned that that loan was approved under false pretenses as loanmart included income that I did not report to them, but that they seen in my credit report, income that I'm no longer receiving. Also I have obtained info that it is illegal ******************** for lenders to give title loans that are more than 180 day, they have to be short term mine is for 3 years and also that the interest rate cap is 28% in the state mine, is 99.99%. within five days of a missed payment. I was an active repo.Business response
10/13/2022
Business Response /* (1000, 5, 2022/10/05) */ Response Attached Consumer Response /* (3000, 7, 2022/10/11) */ (The consumer indicated he/she DID NOT accept the response from the business.) according to laws established ******************** said loan is null and void as the company is in violation. I would like for said business to return all property associated with said loan contract and to cease all collection attempts. according to section 1321.01-1321.19 of ******** revised code No person shall engage in the business of lending money, credit, or choses in action in amounts of five thousand dollars or less, or exact, contract for, or receive, directly or indirectly, on or in connection with any such loan, any interest and charges that in the aggregate are greater than the interest and charges that the lender would be permitted to charge for a loan of money if the lender were not a licensee, without first having obtained a license from the division of financial institutions under sections 1321.01 to 1321.19 of the Revised Code. No loan made outside this state for which a greater rate of interest, consideration, or charges than is authorized by sections 1321.01 to 1321.19 of the Revised Code has been charged, contracted for, or received is enforceable in this state and every person participating therein in this state is subject to sections 1321.01 to 1321.19 of the Revised Code; provided that this section does not apply to loans legally made in any state under and in accordance with a regulatory loan law similar in principle to such sections. All loan contracts made with residents of this state are considered as made within this state and subject to the laws of this state, regardless of any statement in the contract or note to the contrary, except as to licensing if the lender is licensed under and in accordance with a regulatory loan law similar in principle to such sections. A loan in an amount of five thousand dollars or less made to a borrower residing in this state at the time the loan is made by a lender whose office is located outside this state and whose primary business consists of making loans by mail is not enforceable in this state for a greater rate of interest, consideration, or charges than is authorized by sections 1321.01 to 1321.19 of the Revised Code. Business Response /* (4000, 9, 2022/10/11) */ Ms. ******: ******************************* LoanMart ("LoanMart") is in receipt of your rebuttal to the ****************************** October 11, 2022. Please be advised that LoanMart is a service provider ************************************************************************************* Member FDIC, and is providing this response to you on behalf ********** In your communications you have continued to assert allegations that have been previously addressed (specifically in the response to your previous Complaint received on or about August 25, 2022). Pursuant to 15 U.S.C. § 1681i(a)(3), unless you have new or different information which may indicate that our records are inaccurate, LoanMart shall continue to refer to its former response dated October 5, 2022, which is enclosed for your records. Lastly, please be advised that your account is 32 days past due and requires your immediate attention. Please contact the Customer Service Department at *************** Consumer Response /* (4200, 11, 2022/10/12) */ (The consumer indicated he/she DID NOT accept the response from the business.) U have submitted said complaint to the **** attorney general office for review.Initial Complaint
09/09/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
I got a title loan from loan mart after paying for a year I noticed the payment dropped so I called to get a payoff which was 4000 and I only borrowed 1800 I was told I'm paying 8 dollars a day interest and only 49 dollars of my 349 dollar payment is going towards my loan at this rate by the time I pay off a 1800 dollar loan I will be have paid almost 10000 dollars this can't be legal had I looked at the small print I would have never accepted this loanBusiness response
10/05/2022
Business Response /* (1000, 5, 2022/09/19) */ Enclosed please find responseInitial Complaint
09/02/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
I am 74 year old female and I got a loan from loan mart I have paid so much back to them that I just can't do it anymore they really just don't want to hear what you have to say .When I tell them I can't make this months payment they have the nerve to tell me to borrow it from a family member what am I to do.Business response
09/30/2022
Business Response /* (1000, 5, 2022/09/19) */ Thank you for taking the time to share your experience,**********. Please be advised that LoanMart, on behalf of ******, has also mailed the response to the address provided.Initial Complaint
08/24/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
July 22, 2022, I sent a money order for ******* this money order cleared on July 29, 2022.I have requested a copy of the front and back of the money order it could take up to 3 weeks I have communicated this with loan mart on the daily. Loan Mart repo my car again, they came to the hotel we are in ************************************************************************************************************************************************************ and a bunch more things I have not worked in 3 days because I have no car so you stole my car stole my ******* and gave an illegal title loan********************** this is the 2nd time you have taken my car and then illegally made me pay the junk yard to get my car and when the look is they broke the front door handle, all they do is cost me more money ****************************************************Business response
10/06/2022
Business Response /* (1000, 5, 2022/09/12) */ Enclosed please find responseInitial Complaint
08/20/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
In November 2021, ***************** Bank C/O Loan Mart made be a loan in the amount of ********** (Loan Number XXXXXX, and net sum to me of ********** when questing someone after I received, this person advised me that there was a ********* funding/points involved even with that amount deducted, it was still short about ******* The loan they paid off and the above mention loan was used for medical Bills **************************************************************************************************************************************************************************************************** In February they readmitted after being rushed back to the hospital. The next morning I gave Loan Mart a call and requested them to send a 10 pay, to the previous lender. I was ask the reason and I explained what was going on and loan Mart agreed to increase the loan to ********** with payments of ********* which I told them out right I would not be able to afford it and requested them to send the 10 day pay. I was approved for a loan in the amount of ********** @ **** with payments under ******* for a term of 60 month. But Loan mart could never produce the required releases the lender ask for. My self and the lender both got the run around for weeks on end, no less then 2 times they said they mailed it first class mail and would not *****, every few days a would after going through countless employees, It seemed like the right hand didn't know what the left hand was doing, Then I called to find out where my documents were and they would send them out the next day I asked to ***** again they said they would and my new lender would have them in 7 to 10 days, and that going from ********. The Loan Mart rep again offered me the ********** which at that time I had no choice but to accept it (the new loan #XXXXXXX) after returning**************, I made the 2nd payment and ask if there was someone to speak to and their phone games started. I asked a couple of time to refer me,Business response
09/27/2022
Business Response /* (1000, 8, 2022/09/16) */ Enclosed please find response.Initial Complaint
08/04/2022
- Complaint Type:
- Customer Service Issues
- Status:
- Resolved
I obtained an online loan. Later would I learned they were not to do loans in ********. I also found that my interest is not allowed to be no more than 36%. Mine is 78%. The loan by ******** laws are to be financed for 120 days to 12 months. My loan is for 3 years.They are using usury wish is illegal. They have not followed ******** law requirements to process such a loan. This has been reviewed by legal professional and advised to settle the matter. Documents were time sensitive and were recovered.Thank you in advance.Business response
08/16/2022
Business Response /* (1000, 6, 2022/08/12) */ Please see attached Consumer Response /* (2000, 8, 2022/08/15) */ (The consumer indicated he/she ACCEPTED the response from the business.) Satisfied with their response.Initial Complaint
06/29/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
Regarding Loan # XXXXXX I am writing this letter to inform you that I can no longer afford these payments of $304.48 monthly. I took out a loan of $******** on October 03, 2019 on a 2008 Lexus RX 350 with over 300,000 miles. I have paid Loanmart over a balance of $********. Only $75.18 went towards the principle. It shows that I still owe a balance of $$********? This can be calorized as predatory lending and senior abuse. I am a sixty-six-year-old male on a fixed income. I can't even afford the cost-of-living expense. I am fortunate enough that my renter is letting get by with my housing expense. At this time, I believe we are beyond a breakeven point. I feel I have satisfied my loan obligation and wish to no longer continue this. I feel it would be only fair to return to me my title to my vehicle and excessive fees of 110 percent. I have notified the Attorney General Office, Consumer Action and Advisory, California Department of Financial Protection and Innovation, This is my second attempt at resolving this issue. I hope we can resolve this without any further dealing. ********* ******** XXXXX ******* ** ****** ******* ** XXXXX ******************* XXX-XXX-XXXXBusiness response
07/29/2022
Business Response /* (1000, 5, 2022/07/12) */ Dear **. ********: Wheels Financial Group, LLC dba LoanMart ("LoanMart") is in receipt of your complaint submitted to the Better Business Bureau ("BBB") and forwarded to LoanMart on or about July 01, 2022. Please be advised that LoanMart is a service provider for Capital Community Bank ("CCBank"), a Utah Chartered bank, Located in Provo, Utah, Member FDIC, and is providing this communication to you on behalf of CCBank. LoanMart's records reflect that an agreement was reached as of July 7, 2022. As such, LoanMart and CCBank consider this matter resolved.Initial Complaint
06/27/2022
- Complaint Type:
- Product Issues
- Status:
- Answered
On **** *** **** I made my initial payment like promised. May 10th 2022 I changed my due date from the end to the beginning of the month so I could attempt to get ahead of this bill. I gave permission on June 3rd for my card to be ran for the amount of 498.03, by June 11th I started receiving phone calls mentioning I was late on a payment. I've attempted to speak with a supervisor numerous times and have been put on hold and forgot about or even hung up on. They claim that I'm at the maximum amount of late fee's and there is nothing they can do for me except take another payment? This is not okay being that they have a script they are mandated to read prior to running my card for said amount. Now I'm sitting in active repo status and this is not fair, most importantly this is not legal. I need more than an apology because this is causing me stress that's unneeded and extremely unnecessary.Business response
08/03/2022
Business Response /* (1000, 8, 2022/07/14) */ Dear Mr.****** ******************************* LoanMart ("LoanMart") is in receipt of your complaint dated June 29, 2022, filed with the ******************************* Please be advised that LoanMart is a service provider for ***************************************** Chartered bank, ************************************ and is providing this communication to you on behalf of ******* LoanMart's records reflect that the account has been adjusted to reflect the current standing of your account as of July 6, 2022. A review of our records reflect that the late fee for June's installment has been waived and there is no repossession status on your account. We apologize for the miscommunication and any inconvenience that this may have caused. We take feedback like this very seriously, as it allows us to improve our internal processes. As such, ********** LoanMart considers this complaint resolved and requires no further action. We trust that we have addressed your complaint. However, if you have any other questions regarding this matter, please contact the Compliance Department at ************************ Sincerely, LoanMart ************************** Compliance Department
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Customer Complaints Summary
139 total complaints in the last 3 years.
43 complaints closed in the last 12 months.