Legal Question in Credit and Debt Law in Georgia

car title

I have been paying on a car title loan from Title Max for over five years. I have paid over eight thousand dollars for a seventeen hundred dollar loan. How can I get out of this and get my title back. They are applying all of my 150.00 to 175.00 payment to interest and only about 20.00 to the principal.


Asked on 8/15/08, 9:45 am

2 Answers from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: car title

How do you resolve this? You either pay off the loan in full, make larger payments to pay it off faster or go bankrupt (and usually lose the car).

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Answered on 8/15/08, 9:48 am
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: car title

You fail to even mention the agreement you made when you entered into the transaction, and you also do not mention how the company has not followed the agreement you made. This is the nature of title loans (and pawns) and should have been considered when you made the deal. They are not your friendly neighborhood bank. You get out of it and get the title back by paying off the "loan."

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Answered on 8/15/08, 9:50 am


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