ComplaintsforLoanMart
Title Loans
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Complaint Details
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Initial Complaint
11/12/2021
- Complaint Type:
- Billing Issues
- Status:
- Answered
I have been paying on this loan for almost two years now. Because of illness and health issues, it has been difficult to make payments on this loan. I have made some late payments but for the most part, I have consistently made my payments. There was some type of COVID related assistance in 2020 to help individuals during those times and I was told that two payments would be placed at the end of my loan. This was not the case. Instead I was told that I had to pay two, one-half payments. To have a loan for two years and owing more on it than I initially borrowed is quite disturbing and extremely disheartening. I owe over $******** on the loan and I have paid over $******** on this loan. The way the loan is set up seems to be unfair and predatory. A loan should be reasonable to pay off. Initially, I did not understand how extreme the interest were until a representative gave their breakdown on the interest and the need to pay more on the loan before it is actually due to make paying off the loan remotely reasonable.Business response
02/10/2022
Business Response /* (1000, 7, 2021/12/01) */ ***Document Attached*** Please disregard the previous attachment submitted for case#: ******. Attached is the response with the correct account number.Initial Complaint
11/03/2021
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
On Monday November 1, 2021 I was referred to LoanMart by Advance America for receiving a title loan. I gave the gentleman all my information over the phone (including how much I still owed on my vehicle currently). Even with this information I was approved for $900-$***** and I accepted $***** with payments of $207/month for up to 36 months. After that I was told I would receive a link to upload my documents which was all completed November 2, 2021. On today, November 3, 2021, I called the office to inquire about the status of my application, because you've claimed that funds can be received quickly and I needed them quickly, and was told by an agent that I had in fact not been approved because of the money owed on my vehicle. I explained to him that I had told the agent I spoke to on the first day how much I owed on my vehicle and was still approved. All the agent could say was that now I wasn't out of the blue. I had plans for the funds I was receiving and it would have been nice to at least get a heads up that I wasn't receiving the funds. There was absolutely no communication once so ever which is very disheartening because you guys get good reviews and I was hoping to have a positive experience as well. This experience was very negative.Initial Complaint
11/02/2021
- Complaint Type:
- Billing Issues
- Status:
- Answered
I received a loan against my car I was told I could make multiple payments a month to pay off the loan faster. But once I make 1 payments each month it tells me I'm at my limit for the amount of payments I can do. I also was behind because the interest rate is ridiculous, I asked them is I could pay 150 to 200 a week to pay it off sooner and they stated I'm only allowed one payment a month. The interest rate should be illegal and I should have the option to pay weeklyBusiness response
12/10/2021
Business Response /* (1000, 5, 2021/11/22) */ Response AttachedInitial Complaint
10/15/2021
- Complaint Type:
- Product Issues
- Status:
- Answered
I took out a **** dollar loan on my paid off 2005 Altima in 2014. My payments were about 350 a month. I made all my payments and they would work with me if I was going to be late. Fast forward 5 years and they said I still owed over 5000 dollars. This was as Covid was starting and I was moving due to not being able to work and moving in with family. I told them I couldn't pay any longer and why my balance was still so much after FIVE years. They said they would repo the car etc. I told them to come and get it which they didn't. They said it wasn't worth the money they would have to pay to come it it. Okay well why am I still in the hole. I want my money back from multiple years of just utter stealing from people that need it in a pinch. For the amount I paid them I could have bought a brand new car.Business response
11/22/2021
Business Response /* (1000, 5, 2021/11/03) */ Response AttachedInitial Complaint
10/12/2021
- Complaint Type:
- Billing Issues
- Status:
- Answered
I took a loan from LoanMart in September of 2019 for **** and I have paid *** dollars a month for 20 months already and my balance still shows as ******* which is ridiculous. I have paid well over 8000 dollars on this loan I am on ssi disability and live bymyself when is it enough please help. I would like for them to end this loan I have paid way more than enough.Business response
11/19/2021
Business Response /* (1000, 5, 2021/11/02) */ Response attached.Initial Complaint
10/04/2021
- Complaint Type:
- Product Issues
- Status:
- Answered
I was told a title loan I was getting for $**** had 7.65 percent interest, 3 months later after making 3 monthly payments of $285 I'm trying to pay off the loan in its entirety and they tell me my payoff is $****. I asked for the rep that gave me the loan, got his voicemail and now doesn't respond to my emails. Today a phone rep told me the actual interest is 85% and I said that was never told to me, and I specifically asked Oscar allercero when he was trying to get me that loan, if I pay it off early like in three months what would I owe, and he said just the 7.65% interest. I understand they aren't lending money for free but this is outrageous and not acceptableBusiness response
10/26/2021
Business Response /* (1000, 5, 2021/10/26) */ Response attached. Consumer Response /* (3000, 12, 2021/11/29) */ This case should NOT be closed. I was blatantly lied to when I applied for this loan and since all their phone calls are recorded they and you should be reviewing them so you can hear the lies for yourselves Business Response /* (4000, 14, 2021/12/16) */ Thank you for taking the time to share your experience, **. ********. Please be advised that LoanMart, on behalf of CCBank, has provided a direct response to address your concerns.Initial Complaint
09/28/2021
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
I took out a title loan with LoanMart in summer 2019. I was involved in a domestic abuse marriage and needed funds. I took out the loan with all intent to pay it back. I have been paying monthly on an original loan amount of $******. I have paid over $16,000 dollars back and currently going through a terrible divorce and cannot afford to pay this loan anymore. I have contacted them and they are not willing to help me. They technicall yown this vehicle and I am surrending it. They said it's not in good condition; therefore, they won't take it back to sell. Instead they want me to pay the balance of over $****** left on my loan. This is a terrible scam and I regret taking out money with them. The finance/interest charge is more than the amount I borrowed. I have asked for help and they are not working with me. Please help me in this matter as I have this car I can do nothing with and cannot afford. They have to be able to get the car and work out payments for me. Thank you.Business response
10/26/2021
Business Response /* (1000, 5, 2021/10/19) */ Response Attached Consumer Response /* (2000, 7, 2021/10/25) */ (The consumer indicated he/she ACCEPTED the response from the business.) Thank you for the response. I was finally able to get someone to help and they did pick up my car. Thank you.Initial Complaint
09/28/2021
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
The company said they would not run my credit and then ran it without permission. Then they told me I was approved and after transferring said I am not and my experience dinged that they ran it. So they ran my credit illegally to give me approval and take it awayBusiness response
10/19/2021
Business Response /* (1000, 5, 2021/10/19) */ Response Attached Consumer Response /* (3000, 7, 2021/10/25) */ (The consumer indicated he/she DID NOT accept the response from the business.) Is there anything that can be done to assist with having had to waste my time and the potential repercussions from the damage to my report? Removing the inquiry is definitely helpful and I am just curious as far as the rest goes Business Response /* (4000, 9, 2021/11/09) */ Response Attached Consumer Response /* (4200, 16, 2021/12/18) */ ***Document Attached*** I cant open the response from the company and the company still has not removed their inquiry that was ran illegally Business Response /* (4000, 20, 2022/01/14) */ Please be advised that LoanMart is providing you with a direct response under separate cover. Consumer Response /* (4200, 22, 2022/01/24) */ (The consumer indicated he/she DID NOT accept the response from the business.) Still can't read any of their messages and I will not accept something without even knowing what it is that would just be retarded like loanmarts been so far Business Response /* (4000, 26, 2022/02/17) */ ***Document Attached*** Dear **. ********, Wheels Financial Group, LLC dba LoanMart ("LoanMart") is in receipt of your rebuttal dated December 18, 2021, to the Better Business Bureau ("BBB"). LoanMart is a service provider for Capital Community Bank ("CCBank"), a Utah Chartered bank, Located in Provo, Utah Member FDIC, and is replying to you on behalf of CCBank. We have re-included our response that has been sent to you via electronic mail and by United States Postal Service. The attachment, in which you allege that you cannot open, is the same communication that is in the body of the electronic communication. Please be advised that unless you provide new or different information that may indicate that our records are inaccurate, LoanMart shall refer you to its communicated dated January 14, 2022. We trust that this answers your questions and concerns. Attached, please find a copy of our January 14, 2022.Initial Complaint
09/25/2021
- Complaint Type:
- Billing Issues
- Status:
- Answered
Car was repossessed over 5 years ago, 1800 load mart sold it and paid off my loan in full. They sent me a letter stating I no longer have a balance and the account was closed. Now 2021 the account is reopened and says I owe money! I no longer have that letter because it's been so long and the account has been closed for years.Business response
10/29/2021
Business Response /* (1000, 5, 2021/10/15) */ Response attached.Initial Complaint
09/21/2021
- Complaint Type:
- Billing Issues
- Status:
- Answered
Loanmart is a scam. I asked a million questions before getting the loan and now I am stuck paying a never ending loan. This is not right and is severely damaging. They also damaged my personal property.Business response
11/08/2021
Business Response /* (1000, 5, 2021/10/20) */ Response Attached
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Customer Complaints Summary
142 total complaints in the last 3 years.
42 complaints closed in the last 12 months.