- Report: #1240158
Complaint Review: Soverign Lending - Internet
Reported By:
Taken Advantage Of -
Omaha, Nebraska, USA
Submitted:
Updated:
-
Author Not Confirmed
Why?
Soverign Lending
Internet, USA
Web:
www.titleloanamerica.com
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Soverign Lending Title Loan America Fast paced internet scam, docs come over email and I've repeatedly asked for a copy. No mention of "balloon payment" in the last month of the loan. For a $2500 loan, it's cost me over $8177.00 and I still have balloon payment due of $3200!!! WHAT? Floria Internet
Decided to take a title loan during desperate times. My car is worth $34,000. The loan I took was for $2500.00
Was called on the phone and had loan docs emailed to me where they were explained very fast and not in full detail. For a $2500.00 loan, I've paid $8177.00 in interest and was made aware that in order to "pay off" this loan I would need to complete a balloon payment of $3200.00.
Who in their right mind would agree to pay $11,400 for a $2500.00 loan? Total scam and rip off. They've more than made their money off me but I'm held hostage unless I want my car repossed.
