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I took a loan for $200, couldn't pay the loan back when they wanted it. So they took my car. Now I paid $2300 for the car and the car was worth way more than $200. So they said I have to pay back $1242 if I wanted my car back. So I went through all this work to get an advance from my job so I can get the car back. But at the same time, they never told me or sent me a letter stating I had 2 weeks to get my car back. Yesterday, I got the check from my job and called them to get my car back and they told me they took the car to be auctioned. What can I do?
What a scam! I took a loan out of $500 just to get brake work done for my car. I made payments of $122.58 a month. My loan is still out till this day. I thought I paid all my payments. I now owe $678.00 even while I have been making the minimum payment to them. I only made $18 worth of payments to them is what they told me. I found out today that my loan will go until November 2012 or I can give them my car and then all payments will stop and I won’t owe anything. I need my car. They are not willing to do anything with me now that I’m late on 1 payment, other than to repo my car!
My car was repossessed. I called to get my things out of car and they told me I will have to pay $40.00 for all of my personal belongings. Nowhere in my contract does it say that if my car is repossessed, I would have to pay $40.00. Not only that, they want me to meet them in a Dillons parking lot to pay these amount. They wont even let me see my car.
Being out of work and just moving to Pennsville N.J. I was hurting for money. So I saw a commercial for CashPoint. I gave them a call to find out information on how I can get a loan. They asked me were I worked so I told them that I didn't and that I was on unemployment. At first the lady said they didn't except unemployment then later in the conversation she said to come down to their office and they would see if they could work something out. So I went down there. When I got to the office of Cashpoint, I was sent to deal with Nadine. I sat down as she worked on her computer. After about 10 minutes of Nadine on the computer, she turned around to me and said,: I can give you $600.00 loan. She then said the my car was only worth a $1000.00. Blue book. So I said fine. What are my payments? She then took about another 10 minutes on the computer, then turned the computer screen toward me and said,: here is what your payment will be.
So as I looked at the screen, the computer said that my payment would be $189.00 a month. Which I thought fine. So we agreed. Well come to find out that this was not my monthly payment. Because the first time I went in there to pay my first payment I went to hand Nadine $200.00 and she said ,: I can't take any less then $240.00. I then said to her, I thought my payment was $189.00. Nadine then told me that that they say that is my monthly payment, but I can pay my bills any way that I want. And according to there computer my payment was late. Nadine then proceeded to say If I don't want this to happen again, pay the bill daily not monthly because that is not how they worked it. So I proceeded to pay $240.00. When I got the receipt that was the real surprise. The payment for $240.00 didn't come off the loan.
So I then asked Nadine about this. Her response was,: your payments don't come off the loan, this is all interest. This was at no point ever mentioned to me during the agreement. So after I left Nadine and the Cashpoint office. I came home and called a Cashpoint manager to talk about this situation. Letting the manager know that I was unaware of this interest payment and that nothing was coming off the loan and how this was not explained to me at the time of the deal the manager told me there was nothing they could do. This ends up being a 360% interest on a $600.00 loan. That is crazy. This can't, by any means be legal. So I am going to have to pay back $2200.00 on a $600.00 loan. In now knowing this, I called Cashpoint again and said that there is no way I can afford this. Can I work out some other arrangement so that I can pay this off and keep my car. My car that is not even worth $500.00. But I need it because I take care of my parents. My father in which has had 6 heart attacks and a pacemaker. And has to be on oxygen 24 hours a day. Not counting that he has to give blood twice a week.
This is the only transportation we have. So in knowing this and not wanting to get my car repossessed by Cashpoint I called them up and asked If we could work out a payment arrangement. They told me no. and said If I don't come in with $283.00 the are going to take my car. I think its crazy how they can get away with this. They hide all there fees in order to take advantage of people. 360% interest on a $600.00 loan has to be illegal. I have no problem paying of anything that I borrowed but to pay all this interest and to deal with a company that DOES NOT work with their customers is not right. If I was told about this interest payment there is no way I would have agreed to this deal. Cashpoint does everything in there power to hide these fees and to put people in a bigger hole then what they are already in. In doing some research I have noticed that the Cashpoints in NJ, PA., and NY. have lost their licenses because of not paying the state. And the Cashpoint in Washington, DC. has been sued do to this outrageous interest rate of 360%. So why is there being nothing done to the Cashpoints in Delaware.
Why are they aloud to get away with treating there customers like this. We are Americans too. Please don't let them get away with this. If the Cashpoints in NJ, PA, NY. and Washington DC. are running their business this way then they all are. Including the ones in Delaware. Like I said I have no problems paying back what I borrow, but to take advantage of people is wrong and it is even worse to take advantage of people who are struggling in todays economy. So please don't let them get away with this.
I took a loan out in the amount of $5000.00 on my 2007 Eos Volkswagen through Cashpoint. I was desperate for cash and had no choice. My first payment of $1,300.00 was due on 11/19/2010. On 11/29/2010, they repossessed my car! I called to see if I could still make the payment that was past due and any repo fees. They informed me that was impossible and I would have to come up with $6,700 in 14 days to get my car back. This company should be banned! No amount of pleading or begging on my part moved them. I am now without a car and soon will probably get fired! It's not like I can just go and catch a bus to work. I have never heard of anything like this. They don't make arrangements and if you are 10 days late they take your car.
I borrowed a loan for $2500 last August. They charged me $764 a month for interest, and nothing was going on the loan. I missed two months from paying the interest and they took my car. Is there anything I can do? Thank you.
I went into the Cashpoint Office on November 17, 2008. This, after falling into financial despair due to employment and marriage ending. I was thinking to myself that I would use this venue (Cashpoint) as a means to what I hoped would be a temporary situation. My hopes of coming out of financial trouble has ballooned into an all out nightmare.
Had I been made knowledgeable of all the fine print contained within the contract I signed with Cashpoint, I would have gone to family members for some assistance rather then dig myself into a much deeper hole financially. The only thing I was sure of when I departed the Cashpoint office, was that my 1st repayment was due in 30 days. I had no idea that if after 30 days of the loan not being paid back in full, I would begin to incur a daily interest rate of $32.85 multiplied by the number of days in that particular month.
So I began to fall behind on my payments due to my lack of finances and the astronomical interest rate being applied. I actually found myself going to the very same family members for financial back-outs, who I failed to reach out to in the very beginning of this nightmare. Then Sunday May 3, I departed my nephews' apartment to be greeted with two repo guys in a tow truck. By all accounts, they were rather pleasant and I was given time to remove just some of my personal items but the majority of my items were still within the confines of my vehicle.
I handed over the remote-controlled keys to my vehicle (a 2000 Mercedes ML-430 which I had actually paid cash for in November of 2007). This entire fiasco has turned out to be the ultimate low-point in my life, due to what I now know was a poor choice to trying to help myself during a time of need. I made great gains in securing the funds necessary to redeem my vehicle (borrowing from family/friends) only to get a phone call last Friday (May 29, 2009) that my vehicle was no longer going to be available for redemption. This has left me and my 13-yr-old son (who also happens to be autistic) without any form of transportation.
CashPoint Title Loans Company Information
- Company Name:
- CashPoint Title Loans
- Company Type:
- United States
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