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I owned ( free and clear ) a XXXX XXXX XXXX with very low mileage and decided to take out an auto title loan from Fast Money Loans. I took out the loan in XXXX and the car 's value at the time was about {$10000.00}. The title loan was only for {$4000.00}.
Fast money loans had a habit of mis-applying my payments, which by the way, were always well above the minimum payment of {$300.00} ( see attached ). Somehow even though I had already paid off my loan in full and well ahead of schedule -- my car got repossed twice and they refused to hear me out or give me my car back. When i asked them why they thought i was past due, it turned out that they didn't even apply some of my payments to the loan. Then once i showed proof that they made an error, they said that they applied my payment to the principal and therefore the loan was still past due. This makes no sense whatsoever. It was clear that their goal was to rob me. They stole my car after I had already repaid close to {$5000.00} on a {$4000.00} loan.
I am attaching all of my communication with this company regarding their theft of my vehicle. And yes I am calling it theft. It isn't just predatory lending. I clearly documented every payment i made and on which dates and had all of the payment receipts and they still said that i was past due. By XX/XX/XXXX i had paid off the loan ( had they correctly ammortized they would have realized this ) and it was many months ahead of schedule. Loan wasn't supposed to be paid off until middle of XXXX. They somehow found an excuse to repo my car and refused to give me any way of getting it back as you will see from the communication.
They had exhausted my funds and left me without any money for an attorney. In fact, i didn't even have enough money to use a mediator which was what i had initially intended to do as you will see from the emails. Everything that they did was extremely unethical and they even sabotaged me on an insurance claim that i was making on the vehicle.
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