A class action lawsuit has been filed against Titlemax of Tennessee on behalf of customers. The suit alleges that the company has been charging excessive interest. According to Tennessee state law, the maximum interest that can be charged per month is 9.99%, and the suit claims that Titlemax has been charging 22% per month.
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Titlemax is charging me $324.74 and $50.00monthly on a $25.00 loan for 3days. I went to pay them back on the third day and was told I have to pay it and I may as well keep it for a 3/26-16.
I went in to sign feb 26-16 and march 2-16 the computers was down.
I think it's extremly to much
Posted by Tennessee
I recently took out a loan with Titlemax under the impression that the amount being financed was 1000 and after interest I would be paying back 1129. Of course, after going in to make my first pmt. I was told something completely different. Now I am financing 3300 on a 1000 loan!!! None of this information was disclosed to me and on my contract it even states that amount financed is 1129.
Posted by Tennessee
The lady at Titlemax keeps harassing me and my family members the day BEFORE my payment is even due! The interest is eating me up on this. I work from home on the phone and when the lady calls excessively I am missing calls. I will lose my job if this continues.
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