Complaints

• Initial Complaint

  01/26/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Unanswered

  More info

  I had a item on loan with Max Pawn @ **** W Sahara. The item was due for redemption on 1/30/2023. I decided that I wanted to sell the item. So I came in to the store on 1/24/2023 to speak with someone. The total loan amount due was $3063.After I explained in detail that I wanted to sell my item I was told that before I could do that I would need to pay the interest owed on the loan. I agreed. I was told the person who could give me a quote on my item was not available and I would need to return the next day. I explained to the employee that I would like to make a payment towards my loan now more than just interest because my card has a daily limit and when I return the next day I'd want to pay my loan off and take my item if we aren't able to come to an agreement. I made a point to say I'll pay $1500 now and owe $1563 when I come back. The employee agreed so I proceeded with the transaction. I show up today 1/26/2023 to either sell them my item or pay it off and take it. I rejected the amount they offered, they started to process my redemption and the amount owed was $1,771. I inquired why the amount was not the $1563 as expected and that I was assured it would be and was explained that I had taken out a new loan and that was the interest. I explained that I hadn't taken out a new loan and explained the situation to them and they said I had, bases on the paperwork I had signed.I tried to explain how illogical it would be for me to take out a new loan to pay them more money if I didn't need to (I didn't my original loan didn't expire until 1/30/2023). If this was made clear to me that I was taking out a new loan with more interest I would have rejected it since I had more than enough time to pull the cash from the **** I reiterated what I told the other employee and was told thats not what the paperwork I had signed said. I signed the paperwork under the impression it was a modification of my existing loan and not a new loan.

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