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Loanmax Title Loans complaints

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4949 State Avenue
Kansas City, KS 66102 | Get Directions

(913) 596-1077

https://www.loanmaxtitleloans....

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Total Amount in Dispute:
$2,500.00

Total Amount Settled:
$0.00

Complaint Experience

100%

Complaint Resolution Index (CRI)

Complaint Resolution Index (CRI) Explained The Complaint Resolution Index (CRI) is an indicator on how responsive a company is in addressing and resolving customer complaints brought to their attention by BCA. If they are considering doing business with the company, consumers can use this indicator to forecast the likelihood of having their issues addressed if a problem arises. CRI measures the company's customer satisfaction abilities through BCA’s complaint mediation process.

A variety of factors are considered when calculating CRI. This includes how quickly a company responds to complaints, the number of complaints against a company, whether the company addressed complaint allegations, and the outcome of the complaints. CRI is just a subset of the overall rating for the company. Consumers are encouraged to take into consideration the company's CRI, their overall BCA letter rating and other relevant information about the company so they can make a well-informed purchasing decision.

BCA's Summary and Analysis:

Our complaint history for this company shows that the one complaint brought to the company’s attention was responded to and given proper consideration.

Complaint Closing Statistics

1 complaints against Loanmax Title Loans closed in last 3 years.

Complaints	Type of response
0	Making a full refund, as the consumer requested
0	Making a partial refund
1	Agreed to make an adjustment
0	Refusing to make an adjustment
0	Refuse to adjust, relying on terms of agreement
0	Unanswered

1 complaints against Loanmax Title Loans

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9/26/2021

RESPONSE: Agreed to make an adjustment Amount in Dispute: $2,500.00 Amount Settled: $0.00

Customer Complaint

8/25/2021

I took out a title loan on my vehicle and I lost my job 2 months later. I made my payments until I lost my job and they are refusing to help saying there is nothing they can do when I lost my job due to COVID. I am a single mother of 6 children and I need my vehicle. Resolution Sought Work with me. I would like to pay off my balance but I cannot afford the interest or almost 700 a month. My income was almost 5,000 a month and now I have nothing and I've been waiting on unemployment for 6 weeks already.

Company Response

9/14/2021

An investigation into Ms. Romero's complaint proved the company committed no wrongdoing. On June 14, 2021, Ms. Romero borrowed a total of $2,500.00, using her 2015 Kia Optima as collateral for the loan. The total cost of the loan was fully explained to Ms. Romero by the company's personnel and clearly disclosed on the loan documents in compliance with the Federal Truth and Lending Act. Based on the monthly income and expense information that Ms. Romero entered on her application, the loan's scheduled monthly payments were within her ability to repay. At no time did Ms. Romero indicate that she was confused or did not understand the terms of her loan. Since obtaining the loan, Ms. Romero has submitted one payment of $460.00. At the time Ms. Romero obtained the loan, she provided the company her vehicle's certificate of title, free and clear from any liens; however, thereafter, the company learned that it was not the most recent title to the vehicle. In fact, Ms. Romero fraudulently concealed that there was already a lienholder on the vehicle's title when she obtained the loan from the company. Upon learning about Ms. Romero's bad act, the company contacted local law enforcement. With that said, if Ms. Romero would like to discuss this matter further, she should contact the company's me directly at 678-336-7426. Thank you for your assistance with this matter. Please do not hesitate to contact me with any further questions or concerns.

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