ComplaintsforLoanmax

• Initial Complaint

  07/05/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I took out a loan to help with my ****************** rent in 2023. Today, Loanmax is operatig in bad faith in *******. For the last year, Loanmax has kept a lien on my cars registration through the ***** suggesting reposession while payments were being made. I've asked repeatedly that the lien be removed. They would not remove it. In June 2024 I met with the Florida Attorney General ******************* office, the Secretary of ***** and Sec of Financial Services about this issue. They also have a formal letter of complaint.On June 10, 2024 I received a call from a supervisor with LoanMax from the number ************* as a returned call . This was after I was diagnosed with colon cancer in January 2024, which had me undergo surgery, nearly a month in the hospital, then rehabilitation, then home healthcare. and now chemotherapy. I've not gone this much without working in my adult life. I explained all of this to the supervisor with Loanmax. I even explained to her that If i am unable to drive my car it affects my health in this cancer fight... as i need to be able to access healthcare quickly i.e. driving to the cancer center when needed, emergency room , doctors appointments and etc. I've always made payments to Loanmax when healthy and Loanmax has always reminded me of payments upcoming as recently as May 2024 ( attached). On the call I asked about making a payment and asked how much so that we can have a plan to get the balance paid. I again asked that the lien be removed from my registration and stressed how it impacted my health. She hung up on me after stating repeatedly that she did not like me mentioning my cancer and my health issues. She hung up on me before we could set up the payment we both wanted. ******* is looking into how what Loanmaxx has done violated FS ******** (with other statutes) and the spirit and letter of the law giving Loanmax access to Florida vehicle owners. I need to have the lien removed and be able to pay off balance for my health

  Business response

  07/08/2024

  Thank you for notifying us of ******************** complaint.  We appreciate this opportunity to respond.  

  The company operates in strict compliance with state and federal laws and has committed no wrongdoing.  In 2023, ****************  borrowed a total of $3,174.75.  To date, he has only submitted payments totaling $1,177.00 and has not submitted since August of 2023.  With that said, his account are severely past due and therefore, the company is trying to locate its collateral for repossession.  Recently, **************** spoke with the office supervisor.  Despite his statements, **************** was rude and uncooperative. Regardless however, the office supervisor, sympathetic to his health issues, offered to remove the report on the vehicle's registration if he simply submitted the minimum payments due to bring his accounts "current".  In response, **************** kept talking over the office supervisor and demanding that the remark be removed from the vehicle's registration.  With that said, if **************** would like to submit the minimum amounts due to have the remark removed from his registration he should call the office where he obtained his loans at ************.

  Customer response

  07/10/2024

  Sending a copy of letter sent to Florida Attorney General 

• Initial Complaint

  07/02/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Our **** Expedition is up for Repo Sale on 7/3/24. I have requested on certain occasions regarding the breakdown of the account prior to taking care of the account. Them Manager handed me a posted note with balance and that is unacceptable. The office has violated many of the ***** Laws and the VA State Consumer protection laws. When we originally signed for the loan, we advised them to NOT CALL ************************* due to being a Tanker Hazmat commercial Truck Driver and not allowed to take calls while driving. I was advised my number was blocked. How do we guarantee the office did not falsify our record. We never received a deliquent account letter and the letter stating possible legal recourse if not brought current and sale of vehicle because manager will not provide the correct documentation., which is a consumer law and right they have to provide when requested The only resolution is for Loan Max to bring back our **** Explorer and I will not move forward on the Federal and State Platforms to the have the company and employees majorly fined and what ever a judge hands down after reviewing the contract. Please advise if our vehicle will be returrned ASAP or does our Attorneys need to move forward with legal filings and lawsuits based on the Laws they will need to pay for all

  Business response

  07/03/2024

  Thank you for notifying the company of ********************* complaint.  We appreciate this opportunity to respond. 
  
  *********** operates in strict compliance with state and federal laws and an investigation into the grievance proved it committed no wrongdoing.  First, the company would like to clarify that does not offer Motor Vehicle Title Loans. ******************* incorrectly attached a copy of Chapter 22 of Title 6.2 of the Code of Virginia that governs Motor Vehicle Title Loans to her complaint.  Also,she attached a copy of her loan agreement with the company, inaccurately labeling it Title Loan *************** *********** is a Consumer Finance Licensee, governed by the Virginia Consumer Finance Act.  As stated on the first page of ********************* loan agreement the loan is made pursuant to Chapter 15 of the Title 6.2 of the Code of Virginia. 
  
  Next, on October 5, 2023, Mr. and ******************* borrowed $1,015.00.  A review of their account reveals that they only submitted one payment on November 18, 2023, in the amount of $159.93.  Thereafter, Mr. and ******************* were uncooperative and had extremely limited communication with the company.  Despite ********************* contentions, a review of all collection efforts conducted on their account prove that the companys efforts to work with fully complied with all pertinent state and federal laws.  Finally, after exhausting all available means of working with Mr. and ******************* and having not received a payment in six months, on June 18, 2024, the company repossessed its collateral.  Under applicable law as explained above,specifically, the Consumer Finance Act, the company is not required to send borrowers a notice prior to taking possession of its collateral.  On June 25, 2024, the company mailed Mr. and ******************* a Notification of Our Plan to Sell Property stating that the vehicle would be sold sometime after July 7, 2024, not July 3, 2024, as ****************** states in her complaint. 
  
  Notwithstanding the above, the company is a customer focused lender and always tries to work with customers as opposed to selling a vehicle. With that said, the company is willing to discuss a mutually beneficial settlement arrangement with Mr. or *******************.  ***********s Assistant General *******,*******, tried to speak with ******************* but was unsuccessful in reaching her.  With that said, if Mr. or ************** is interested in the companys offer, they should call ******* at ************ by July 10, 2024.  If ******* does not hear from either Mr. or ******************* by July 10, 2024, the company will proceed with selling the vehicle in a commercially reasonable manner. 
  
              Thank you again for your assistance in this matter as well as the opportunity to respond.  Please feel free to contact me with any further questions or concerns.        

• Initial Complaint

  06/29/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I did an auto loan on 6/24/24 and went to the bank to deposit it. I woke up the next morning to check my acct and it was a fee on the account. I called to be inform that the check I received from LoanMax had return due to insufficient funds my bank treated it like fraud and ask me to have loanMaxxbank to send some documents verifying the check was good. I spoke with ******* and ****** and they stated the spoke with their accountant and the bank and said to tell my bank to call their bank. Absurd right? I know. Not only did they not assist me they have been texting me about resume so they can apply to my job. I advise them my job isnt hiring snd they stop trying to assist me with getting my check cash. ******* sent out rude and condescending text messages to my phone. Today is 6/29/24 and I still dont have the funds and there is a lien on my title. I do plan to seek legal action against the company and the employees for emotional damage and distress. The employees of LoanMax keep hounding me about the resumes every time I called about them rectifying the issue.

  Business response

  07/03/2024

  *********** operates in strict compliance with state and federal laws and has committed no wrongdoing.  ***********'s bank records prove that ************** loan check cleared the company's bank on June 24, 2024.  With that said, ****************** statement that the loan check was returned due to insufficient funds was simply untrue.  If ****************** bank did not release the funds to her until a later date, that is between ************** and her bank.  *********** has no control over ****************** bank.  Finally, the employees adamantly deny ****************** statements and the company is unaware of any other customer complaints against these employees.  

  Thank you for your assistance with this matter, as well as the opportunity to respond.

   

  Customer response

  07/03/2024

   
  Complaint: 21920790
  
  I am rejecting this response because:
  
  Sincerely,
  
  I have proof from my bank that the check bounce my bank sent a letter so saying I'm telling a lie is absurd. Actually I decided to take this to court, the employees are texting me and harassing me now as I write this. Also i have all text and recorded conversations of LoanMax and employees and I. I also will have my bank to confirm all this because we did a 3 way call also. It was their company check bounce and the employee even stated she should have told me before hand. so to the company  rude and unprofessionalism good luck in court. i will be posting more reviews about this company and also might want to pay their employees more s they want have to look for another job. I don't have to lie about anything when the company already have many bad reviews and are scammers with bad checks. saying I'm lying and I have proof is diabolical see if that holds up in court!!!

  Business response

  07/03/2024

  Again, a review of the company's bank records show that the check was honored.  If ************** would like to provide the company with documentation showing otherwise, she should contact the company's Assistant General Counsel, ******* at ************.

• Initial Complaint

  06/27/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Unanswered

  More info

  I have just had my car repossessed and it was sold at auction from Loanmax. They sent a letter for me to claim what was left after the car was sold. Which is the amount of ********. I called this place over month ago to claim the money. And, still Im waiting no check. I called just to find out that no check has been issued yet. Asked to find out when they tell me they dont know and would not let me talk to their supervisor either I got told the person was not in. I handed the car over them peacefully because they wanted their money fast. Now I want whats owed to me. This utterly ridiculous.

• Initial Complaint

  06/24/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I took a loan with LOANMAX fully expecting to be paying it back within the timeframe. Shortly after taking the loan my hours at work were reduced drastically. With the reduced hours comes less income which has caused me to struggle financially as a single mom to 3 kids. I have made a couple smaller payments recently but it just wasnt enough. They have now called to repossess my car. I would like to reach a reasonable plan for paying back what I owe without the interest being added on. I need my car to go to work to make money to support my family. I understand them wanting to repossess as I did default on the loan. Im willing to start paying faithfully if they can just agree to a reasonable monthly payment.

  Business response

  07/01/2024

  Thank you for notifying the ******* of Ms. ******** complaint.  We appreciate this opportunity to respond.
  
              An investigation of the grievance proved the ******* committed no wrongdoing.  On May 25, 2023, ****************** borrowed $3,025.00.  The terms,conditions and cost of the loan were fully explained to ****************** by the *******s personnel, as well as on the loan documents as required by the Federal Truth in Lending Act.  Based on the monthly income and expense information that ****************** entered on her application,the loans scheduled payment was within her ability to repay.  At no time did ****************** indicate that she was confused or did not understand the terms of her loan.  A review of Ms. ******** account reveals that she did not submit her payment as agreed. The ******* made numerous attempts to work with her, but ****************** was uncooperative.  Finally, on June 25,2024, the ******* repossessed its collateral.     
  
               Notwithstanding the above, the ******* is a consumer focused lender and always tries to work with customers.  With that said, the ******* has postponed the sale of the vehicle until after July 12, 2024, to give ****************** additional time to pay off her account.   However,if ****************** needs even more time, she should contact ******* at ************ before July 5, 2024. 
  
              Thank you again for your assistance with this matter and the opportunity to respond

• Initial Complaint

  05/30/2024

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  Borrowed ****** was told repayment was 1178.i was under the assumption paying 262 monthly there would be a percentage going towards my loan. Only to find out it hasn't. An now I have to renew my loan at a higher monthly rate to extend it or pay full amount of 1178.. I'm on a fixed income of ****** an I've already paid them over ******* for nothing. I tried explaining my situation an wanted to pay half **** month an half next month to get my title back..the people at the time of my loan did not explain to me the 262 was just to push the ******************************************************** full. This company has scammed me for 1048 so far an now want more money on top of it.. I can't keep paying this an they are threatening to take my only vehicle. Completely deceptive employees an company.

  Business response

  06/05/2024

  Thank you for notifying the company of ************** complaint.  We appreciate this opportunity to respond. 
  
              An investigation into ************** grievance proved the company committed no wrongdoing.  On January 20, 2024, ************** borrowed $833.00.  The total cost of the loan, plus fees and interest were explained to ************** by the companys personnel, and clearly disclosed in large, bold print on the loan documents in compliance with the Federal Truth and Lending Act.  Based on the monthly income and expense information that ************** entered on his application, the loans scheduled monthly payments were within his ability to repay.  At no time did ************** indicate that he was confused about the terms of his loan. 
  
              A review of Mr. ****** account reveals that he has not submitted all his monthly payments as agreed.  ****************** contentions, a review of his receipts proves that a proper portion of each of his payments were applied to the principal amount borrowed.  As explained to **************, he could always submit more than the minimum monthly amount due in order to reduce his outstanding principal balance.  Most of the companys customers pay off their ********************** in a short period of time, which significantly reduces the amount of interest and fees the borrower pays. 
  
              Notwithstanding the above, the company is a customer focused business and always tries to work with customer as opposed to repossessing a vehicle.  With that said, in a good faith effort to resolve this matter the company is willing to settle ************** account for a reduced amount and his signature on a simple release.  The companys Assistant General Counsel, ******* tried to reach ************** at the telephone number listed in his complaint, but was unsuccessful.  With that said, if ************** would like to take advantage of the companys offer, he should contact ******* at ************ by June 12, 2024. 
  
              Thank you again for your assistance in this matter and the opportunity to respond.  Please do not hesitate to contact me should you need anything further. 

  Customer response

  06/05/2024

  I will call the company tomorrow 6/6/24 and report back.

  Business response

  06/13/2024

  This matter has been resolved. 

  Customer response

  06/13/2024

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *****************

• Initial Complaint

  05/28/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  Business has contacted me demanding I pay for a loan I never took out. My identity was stolen and my credit is locked so theres no way a loan could have been done.

  Business response

  06/03/2024

  Thank you for your notifying the ******* of Mr. ********* complaint. We appreciate this opportunity to respond. 
  
              The ******* operates in strict compliance with state and federal laws and has committed no wrongdoing. On March 13, 2024, ******************** borrowed $2,025.00.  At that time, ******************** provided the ******* with his New Hampshire issued drivers license, his 2004 Dodge Ram 2500 for inspection, and the Dodges certificate of title listing his as the registered owner.  With that said, the ******* has no reason to believe ******************** did not obtain the loan.  A review of Mr. ********* account reveals that to date, he has not submitted his payment as agreed, thereby defaulting on his loan.  With that said, he should contact the office where he obtained his loan immediately at ************. 
  
              Thank you again for your assistance with this matter and the opportunity to respond

  Customer response

  06/03/2024

   
  Complaint: 21768262
  
  I am rejecting this response because:
  
  I do not have a New Hampshire license and my identity was stolen. 
  Sincerely,
  
  *************************

  Business response

  06/03/2024

  Again, ******************** provided not only his driver's license, but also the vehicle and its ******************** listing him as the owner.  ******************** should file a police report against the individual and provide a copy to the office where he obtained his loan.  

  Customer response

  06/03/2024

   
  Complaint: 21768262
  
  I am rejecting this response because:

  I dont have a copy of the loan, the vehicle, nor the identity of the individual who opened a loan in my name 
  
  Sincerely,
  
  *************************

• Initial Complaint

  05/08/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Mislead on the phone by LoanMax for a title loan.

  Business response

  05/13/2024

  We do not have a customer by the name of *********************** or with the telephone number listed in the complaint.  If ************** would like to discuss this matter and provide more information, he can contact *******, the company's Assistant General Counsel at ************.

• Initial Complaint

  05/06/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Unresolved

  More info

  I took a car title loan on 3-15-2024 from the Plano store and the name of the representative was ***************************** (Contract number 361-34134). At that time the total payoff was $3339.15 and if I pay off the loan then the amount is going to be less. I took the loan for a side income source and later I found out that it was a fraud. I called to let them know that I was a victim of a fraud and ***** told me that I provided them a wrong phone number. When I started the loan, I provided them my phone number and they even called me from the store on that time to verify my phone number. I went to the store on 4-17-2024 and let them know about my fraud situation. I spoke with ***************************** and she spoke with a supervisor. She let me know that I need a police report for the fraud and my interest will be forgiven. I filled the police report and send the police report number via e-mail *********************************** I waited a couple of days and no response from them. I went to store and spoke with ***** and she was busy at that time. She asked the other representative to contact the supervisor regarding my matter. I made a payment of $2500 on 4-23-24 as per ***** suggested. The manager did not pickup the call. I waited for 30 minutes and left. Next day I went to store again and another representative was there and she was busy. She told me to come next day. I went to the store next day and spoke with ***** and a super visor was at the st ore also. Super visor (***********************) told me that the interstate could not be waved and I have to pay $1000 to pay off the loan even though they told me that the interstate will be waived if I provide the police report, she also stated the time to pay off the loan can be extended but still have to pay interest. The manager was very rude and she was saying I signed the contract but the contract was never explained to me properly and there is no discount to payoff the loan early. I paid the remaining balance on ********* for the amount of $990.15. I wanted the interstate to be removed since I was a victim of a fraud. My name is ************** and my phone number is ************.

  Business response

  05/07/2024

  Thank you for notifying us of ****************** complaint.  We appreciate this opportunity to respond. 

  On April 22, 2024, ************** borrowed $894.46.  ************** has never claimed that he did not obtain the loan.  Rather, ************** claims that some unrelated third-party defrauded him.  ************ while sympathetic to his alleged situation, did not commit any wrongdoing.  As the employees explained to **************, it was important the he submitted his monthly payments as agreed.  However, on May 4, 2024, ************** paid his loan off in full.  With that said, the company considers ****************** account closed, and will assume the same with regards to this matter.   

  Customer response

  05/07/2024

   
  Complaint: 21675978
  
  I am rejecting this response because: when I took the loan, they never told me if I miss the first payment, there will be problem and full interest will be calculated. I also had to wait for management response for the interest and I had to pay the full interest of $990 not $800. I should be refunded with the extra interest.
  
  Sincerely,
  
  **************

  Business response

  05/08/2024

  The company did not accelerate any interest on ****************** account.  Moreover, he was never even charged a late fee.  With that said, ************** is not due a refund. 

  Customer response

  05/08/2024

   
  Complaint: 21675978
  
  I am rejecting this response because: I told you guys that the funds were used towards the fraud transaction. Since I used the funds towards fraud transaction, I wanted the interest to be waved. I even filled a police report and a *** report also for fraud. In the beginning the employee told me that the interest will be removed since there was a fraud, as long as I can provide a police report. I gave ***** police report number also.
  
  Sincerely,
  
  **************

• Initial Complaint

  04/18/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  In 2018 I had a 1996 ***** Suburban that ********************* pawned my title to Loan Max at ****************************************** ********, ****. *****. With me as the lien holder. I never signed off on this seeing as the vehicle still was not paid off. I was contacted by an employee that I needed to sign off on it but I told them I would not do so seeing as the vehicle was still not paid off. The car was parked at ******************. About a month after I was called, I went back to retrieve the vehicle and I was informed that the vehicle had been repossessed by Source One. When the vehicle was repossessed I still had all of my belongings in the vehicle, including items that had sentimental value. I am trying to get my vehicle back or at least be compensated for the vehicle and the items that were inside. To this day I still have the title and I am the only lien holder of the vehicle. And the reason it has been a while and I'm just now seeking out about this is because I was incarcerated. When I was released and went to Loan Max, I discovered they were closed down.

  Business response

  04/19/2024

  We believe that ********************** complaint was directed to the wrong company.  ******** Financial Services, LLC d/b/a LoanMax does not have a customer by the name of "*******************************" or "Seconi *******" in our records.  Should ****************** like to discuss this matter further, he can contact the company's Assistant General Counsel, ******* at ************. 

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩