Title Loan

You are ignorant at best Cellular. The OP borrowed $1900. He paid $460. He should be able to complete the loan for another $1600 or less. Why would he want to waste his money on a lawyer when one is not needed especially when the dollar amount is so low. I could understand maybe hiring a lawyer if they won't let him pay or if he defaults or other measures but there is no reason to at this point. Why hire a lawyer when the entire dispute can be settled with a simple phone call?

Again your advice is redundant. You remind me of those dime a dozen lawyers you see on TV all the time. Oh wait there goes an ambulance. You best starting running or it will get away. You might as well start your own commercial for your alleged law practice. If you want to advocate a lawyer on every post then just hop on each one and say something like hire a lawyer and be gone. Otherwise your help has been pretty useless.

DollarsandSince,

Your very title is Debt Samaritan and that tells me that you have compassion and tolerance. I find your last comment very scary. I have read your post many times and have enjoyed evey one and respected the same. I am now worried that something is wrong and if you need to talk please pm me or someone here who will be glad to assist you.

love ya
luke

Dollars, I think that who you are really addressing is the lawyer troll who has been posting non-stop for the past couple of days. Cellular, I believe is a respected guest who posts here regularly.

Yeah, lay off, will ya?

I was addressing the random guest that changes his name. My comments were not address at a regular poster. He changed his name about half a dozen times in another thread and one of his names was Cellular I thought. Actually now that I reviewd that thread he posted above and below Cellular. Sorry about the confusion it was addressed at the guest and not at Cellular. He just keeps changing his name so I didn't know which one to grab and accidently grabbed Cellulars. Anyway he has made some jabbs at a few other posters besides me and I was just ribbing him back.

You are true and dear to this site, and I for one am glad you are here DollarsandSince.

Me too! Your advice is always well thought out and pertinent!!

Yeah again sorry Cellular if you read any of this that was my fault. I've been working on a bunch of stuff here and wasn't paying close enough attention to who posted what.

Dollars
The payoff amount they gave me was $2242 after my last payment on Friday of $469. This payoff is good through September 2nd and if I pay it off before then, it will be a little lower because of the interest.

It is very frustrating because I am pretty sure they aren't operating legally and there is nothing I can do about it.

Once I have paid this off and have my title back, I plan on filing as many complaints as I can on companies like this one.

i feel for you.since the state put the new laws into effect a couple of years ago.i have seen more and more of this.places claiming to be installment loans but the int and terms match a pdl's.the only recourse for now is to pay it,themn file AG,FTC complaints.maybe even contact the dept of finacial institutions.alert them to places like this.

I plan on doing that, but want to make sure I have my title back before so they don't get mad and just come and get my car.

I did see that the gov. was working on a new bill for these types of loans. I hope they get that through.

Yeah they are screwing you. I kind of doubt the loan is legal but they are holding your title hostage. I only see 3 options here.

1. Pay them the payoff amount and get your title back as you stated and then go after them.

2. Ignore them and risk losing your car.

3. Hire an attorney to review the loan docs to determine if it is legal. Even though I ripped the guest for suggesting a lawyer that was prior to knowing what the loan payoff was. It is obvious now that they are ripping you off and you need to protect your assests. It might be cheaper to just do option 1 though.

You can sell yourself and your cause to an attorney. Here's how:

1. Get all of your documents together. Yes, everything you have. Organize it well, preferably in reverse chronological order. Find out what you can about your opponent and include that too.

2. Get a copy of the Ill. statutes governing payday/title loans. (I'm sorry, I can't do this for you but I'm sure you'll find help here.) Learn what you can about how the courts have interpreted the law. You may find little or nothing; that's alright.

3. Locate others in the same situation with the same lender. As objectively and professionally as possible, compare your situations and see how similar they are. You could start in this forum, but I would probably take the effort offline for the most part, as the other side will be able to see your discussions too easily. Always remember that if litigation goes forward the other side may be entitled to know everything you say about the case outside the presence of your attorney. So again, be objective and professional.

4. Research class action attorneys in your area. Find one close by. Check her bar record. Get references. Then set an appointment with one or more of them.

5. Meet with the lawyer and show her the incredible fraud you've discovered. Tell her you have others willing to step forward as named (or "lead") plaintiffs. Explain why she'll be able to retire off her cut of the fees.

Seriously, these things can be very lucrative (they can also be a pain in the ass), depending on the case.

Be sure to find out how many consumer class actions the attorney has handled. (One or more is fine if it's an otherwise experienced litigator.) Later, you'll check the county court records to be sure you're getting the truth.

If you and the lawyer get along, then congratulations: you're now a part of the "litigation explosion." (Just kidding.)

Why do all this? It may get you a lawyer on contingency. The problem will be off your back. You'll be helping others. You may get to keep your car. Also, here in Cal. and in the Federal Courts, lead plaintiffs in class action lawsuits are routinely awarded bounties for coming forward, assuming you win or the case settles favorably. In the one class action I handled here in Cal., we settled for $1.25m, and the five lead plaintiffs each got $2500: many times what rank-and-file class members received. (My own cut was $75k for 3+ years of very hard work. Don't ask, long story.)

Good luck to you.

Signed,

Your Friendly Neighborhood Ambulance Chaser

here's a suggestion for you oily guest.GET LOST!!!!!!!!!!
i have had enough of you. four points

1)her payment is due on fri,hardly enough time to get her docs in order.
2)all legal actions take time,by fri they could start repo proceedings.
3)there are different stes of laws for pdl's and title loans.
4)class actions benefit no one but the lawyer.

your stupid bluster is enough,post again i will be there.

I wanted to jump in and give you my experience. I too, got a title loan in IL, mine was through Lighthouse Financial. It was the beginning of the mess I am now dealing sorting through with pd loans. Title loan companies are ruthless. The interest is compounded daily, so if you can only pay the interest, at the end of 8 months, (at least that was what my contract was), you either have a big balloon payment, or can refinance, paying 25% down on principal, as well as the insane high interest rate. After paying 600 a month for six months, I went to a car dealer in my area, explained my situation, and added what I owe to Lighthouse as part of a newer car loan. Granted, I really did not need a car payment, but my payments are less than what I was paying Lighthouse, and at least I have a newer car to drive. Understandably, I was one of the lucky people who were able to do this. I think these types of loans should be banned, as well as the pd loan creeps. All of them seem like the only answer at the time, but in fact, they are worse than loan sharks.

Thank you for sharing your experience. I have gone through with the paperwork to take the money I need out of my 401K account to pay this off. I should have that in a week and half and can get them off my back. I am just lucky that I am able to do that.

Dollars - I agree with you. I am going with #1, that seems like the safest way to go right now and I won't have to drag out the interest any longer.

Thanks everyone for your comments, I will keep you posted.