LoanMart (formerly 800loanmart.com)

I have tried to explained this to LoanMart but receive threatening texts and email telling me they will repo my SUV to “give it up now it be better for me” (really how can taking the only transportation my family has to transport a child to and from the doctors 4 to 5 times a week, plus a pulmonologist and pulmonary therapy twice a week better for me?). I have ask for compassion and empathy on this issue and promising them to be caught up within a month and a half, due to health insurance and 2 full time paycheck finally coming in. I receive this response copied from the threatening text received from LoanMart!

“This is unacceptable arrangement, I can't grant you that much time, I need the location of the Ford Explorer before we transfer the file to possible legal review. You must either cover the payment or provide the location of the Ford today before 3pm, I gave you till the 6th to cover the payment but you never made the payment, so you did break your promise to cover the payment. The repossession order open and my agent spotted the car already, it will be cheaper for you if you surrender the car. I can't stop any further escalation on your file anymore, The SUV has been placed on camera system, please let me know if you will be able to cover the payment by 3pm or surrendering the SUV.” End quote.

I explained that this is the only transportation we have and if repo it be very detrimental and a major setback in recovery and the added stress of a child who already has a fight that no one can ever imagine. We borrowed 2500. Paid back over 4050 dollar. Unable to get a payoff amount (anytime we call we are told to make a payment and they will tell us) my wife spend every waking hour with our son and doctors and sleeps when possible. Now she stay awake to “stop the repo.” This company will prey on you like a cat to a mouse! Once LOANMART has you in the teeth you can no longer afford to do anything but cry! Horrible horrible company! I would do anything to turn back time and slap the crap out of myself for taking this loan out!!! Stay away!!

So I went ahead and attempted to be proactive and sell the car myself which would've been successful had they not taken the car so fast. In the hopes that the car would cover the cost of the loan, I didn't bother to fight the repossession, that specific car in the condition it was in was going for well over $3,000. It only brought in $1,500 bringing down the principal $1,500 after a $375 tow truck fee, $125 auction fee and any other pocket change they can run through your pockets with. At this point I had NO INCENTIVE to pay them off. That is when they will send you a letter offering to settle your debt at 70% less than your total balance which basically comes out to your original loan amount. Can you imagine, a 70% discount AFTER the loss of your vehicle comes out to the original loan balance. Take the time to let that one marinate. Needless to say I shredded that letter.

Chapter 2. Here's where it gets fun. Months later I acquire a new job after purchasing another car that simply runs. I then decide to pay down all debts in a timely manner. I call LoanMart to see where my balance is at. Spoke with someone named Jesse, a pretentious individual to say the least. He explains My loan is at $3,800 even AFTER applying the $1,500 they made from my vehicle. Cool. The "Settlement Offer" would be $1,860 if I paid off the balance within the week or made a large payment one week and the remainder within 30 days. The settlement sounded manageable for my current situation.

As I started working the numbers and suggesting he lower it to $1,500 he went ahead and told me that's the best he could offer followed by lies. (Saving readers some time here.) He then has the audacity to tell me he does not even have to offer me the settlement and that I could pay off the $3,800 balance at 150% interest which comes to $6 and change accrued per day. Essentially attempting to strong arm me into paying the very amount I expressed interest in paying in the first place! When I asked if he had seriously suggested that I "waive the settlement offer and pay the $4,000 instead," he then claimed I was putting words in his mouth and running the conversation in circles.

After clearly and concisely explaining to him that he was attempting to be "a few choice words" I decided to have him email the documents and promptly hung up on him. Within two minutes I called again to speak with another, hopefully more respectable predator. Oxymoron I suppose. Anyway, I get through to a guy named Charles who puts me on a 5 minute hold after reviewing my information (I assume he may have seen notes from my previous call) and then I'm now speaking with a man named Diego. I immediately explain that I did not request to be transferred and will only speak with Charles. (Diego may have been the Manager more than likely.) Charles comes back on the line noticeably more shaky in his voice asking how he could help me.

I said he already knows as I've not only told him when we first spoke, but he even proceeded to read to me my ACCOUNT INFORMATION NOT MORE THAN 5 MINUTES PRIOR. As he gathers his short memory he explains a settlement offer is available. (Oh joy!) I explain that I'm willing to work it out at $1,500 which he says he must run through with a manager for approval.

His manager approves it to be paid at $1,500 instead of $1,860. $360 dollars less after a second phone call and a little bit of games. I tell him, “Great, send me the documents within 30 minutes.” Documents are sent within the timeframe from Diego nonetheless. That wasn't even an issue, my issue now was how they were so quick to jump on the decreased amount after only a second phone call. If anything, they made me ULTRA suspicious when they sent over another DocuSign agreement. At this point I figured it would be best to consult a lawyer to see if I should even pay them at all.

I'm not going to cry and complain as to how bad this title loan company is, or how badly "some" of the staff members there are downright uncaring and disrespectful to the borrowers, or even how the loan is designed to bring them in a steady stream of hundreds of dollars per month in profit from the truly unfortunate. Nope, there are enough reviews on here that accomplish just that. I figure I would share my experience, and save some ballsy individual who considers taking on this loan, to just avoid this one. Just avoid.

And for those of you who already got stuck into this, don't pay them $3 to $400 religiously every month just to bring your principal down $50 every month. Either pay them in full the first or even the second month, or sell your car at over the loan’s value or close to it, and pay off the balance and get a beater until you bounce back. It will work out much better in your favor, believe me. I was in a unique situation and was able to bounce back pretty quick even at great financial loss and the loss of my vehicle. Many others ARE NOT so fortunate. Stay AWAY.

I decided to try and get a loan. The only one available to me was thru Loanmart. I had literally just paid off my car. I was not sure I should take the loan but rent was late and I was missing work. With no other options I had to accept it. The first time I tried to pay I found out they don't accept American Express which was the only card I had so I had to get a different card. Then I was doing ok getting by barely and I found myself needing to extend my pay date by a week. They refused to do this. I called back many times, I kept asking and finally I was able to change it. But they didn't want to and they will not cooperate at all. I was going over my bills and after paying $330.25 last month to needing to pay again my balance only dropped $50 dollars. That is all I end up paying every time.

Now I can't pay again on time and I need my car. My bf is sick, my friend still doesn't have her license back. I need a second job but without a car that won't happen. I can't refinance because the car is too old with too many miles. All my utilities have gone unpaid and are in jeopardy of being shut off. This loan thru Loanmart is the worst idea ever. If they take my car my life will be over and the worst part is I can pay the payment in a week but this company is uncaring and ruining people's lives. I could never work for such money hungry selfish people who are taking advantage of people in desperate times. I support and all claims about that are negative about this company. I am willing to be part of any lawsuit against them.

I have contacted their customer service numerous times. Once I called when I had trouble paying on time due to 2 unexpected deaths in the family, they didn't care. I was asking for a week extension and they were very threatening telling me they wanted the payment now! I also made a payment arrangement with one of the reps one time and I kept getting calls after the arrangement was made about my payment due. The rep who claimed was a manager never put the arrangements in the system. I just want this monthly nightmare to be over but I see no end in sight. Desperate times come with very, very bad consequences.

He told me that I'm just mad because he knows that I will not be able to make the payment and he's dealt with people like me trying to avoid our obligations. During the conversation I continue to ask him or let him know that he was being extremely rude and unprofessional. He did not acknowledge what I was saying one bit and continued on as I believe mocking me. He spoke to me with such disrespect I could not believe what I was hearing usually. Usually it's always to customers who’s irate and rude but not this case at. At no point was I rude to him or even cursed him out. During the conversation I did let him know that this call was being recorded just to prove that every representative I spoke to told me something different so I do have my records. I did let him know I wasn't stupid.

This nasty conversation by him continued on for at least 10 minutes when he finally stayed it if I didn't have to payment and they would go on with the next step and he hung up the phone in my face before I can even respond. I immediately called back and ask the representative how do I go about filing a complaint. For this man Rodger to be so comfortable at being unprofessional nasty and rude and hanging up in a customer's face I'm sure he's behaved like this before. So that no one else has to go through this I will be filing a complaint to the BBB on this representative.

Just for some clarification not all the representatives behaved like this. This was my first experience through LoanMart. The other representative seem to be very sweet and helpful and professional. It's so sad that a man like this represents LoanMart and he's a supervisor it's. It's just too bad I didn't get his last name he. He only said his name was Rodger and I'm not sure if that's even the truth. But I was told that the calls are recorded Soso maybe the head person of LoanMart can go back and review the conversation.

After another week we began receiving calls from a repossession company. Mind you we have yet to receive a payoff letter. Called LoanMart to find out what was going on and was told they will take care it. After another 2 months went by and not receiving a payoff letter or my title I call them and ask where my title was. I was told "They lost the title and I would have to apply for a lost title from the Secretary of State office at my expense"!! So now to get my title I have to pay $95 to the Secretary of State. Stay away from this company.!!!

I was short 14$ two years ago and the supervisor a guy who works evenings and is an older Hispanic male, was basically laughing when I told him I lost my job. His response was, “Oh well too bad. I might as well get it now since you lost your job anyway…” Who does that? Over 14$, they didn't try to work with me nothing, that was two years ago. Today I was contacted by someone telling me, "Your account was in collection for 20$!!" I sent 180 and my payment is 200, so again over a tiny amount of money, I'm threatened with repossession, so I’ll be making that payment tomorrow. My advice is go anywhere in the world but here, or just go without the money. This place wants to take your car and make ** impossible so you can be late or repo you... PLEASE DONT DEAL WITH LOANMART. LOAN SHARKS.

I would not do this loan again though because, although I got good customer service, their interest rate is so high. I'm paying $150 every month extra on top of my payment for the loan, and it's like paying for another car again. I'm only going to have this loan this one time for nine months, and then I'm going to pay them off on my taxes, and after that I will never do it again because the $322 monthly payments are high. This will be my first time and last time doing this.

Things have been smooth after we got that out of the way. My employee told me if I do my own payments, I was scheduled to pay the next month on the 25th. She told me even if I do it like that, I will still be paying only for six months, $320 or even less. They gave my title back, and that was fine with me. I have days where out of the $2500 loan, I paid $1400 back. Other than the interest rate misunderstanding, the customer service was great and everything was great.

Then I call back and try to figure out what's going on. Now I'm being told it is too late for today, AGAIN, and that I will have to wait until tomorrow. Or that we can do Moneygram, but that you need to speak to my husband. I try to explain, my husband is in training in Washington, I'm in California. He can't answer the phone while at work which is why he gave me authorization TWICE now with you guys. But you insist you can't speak to me and now say that he has to give me authorization everyday. So the lady insisted on calling him, even though I told her he's not allowed to answer his phone while on the job training. And he won't get out of work until after 6:30pm when you guys are already closed. This loan is going to cost me an outrageous amount of interest, and so far, I am getting quite possibly the worst customer service I have ever experienced!

We have used you in the past with no problems. We get those silly mailers in our mail "Come back to us next time you need a loan". I will never recommend your services to anyone. I am extremely frustrated! My husband is up north for training, the whole reason we did this loan is to help with our transition (moving) and to make sure he could eat. Now we are going into day 3. I hope THIS is being recorded because I am extremely unhappy right now!

It also seemed as though everybody was on a commission job because everybody tried to speak with me. And I tried my best to speak with the same rep. I’m not dissatisfied, but I would definitely inform people what to look out for or what to be prepared for in case the representative doesn’t know. And that’s never good in business when the client knows more about the company or what to expect from the company. Other than that, they’re friendly and they took the initiative to be tenacious and constantly stay in contact.