Can title loan companies demand only entire payoff amount when loan is 120 days past due

title loan was signed on 8/29/2012 for 1500.00 , two full payments were made on loan, no payments were paid from dec to march. I contacted the company and let them know that i would pay the loan off with income tax return .when attempted to pay off loan the total had jumped to 2300.00. tried to pay the 1500.00 then arrange to pay the remaining balance off within 30 days . they have refused payment.

Saint Marys, GA -

Attorney Answers (2)

Kris K. Skaar

Kris K. Skaar

Debt Collection Attorney - Marietta, GA

Can you post additional information to let us know if the title pawn was in Georgia or across the state line in Florida. (I ask because the question says that you are in St. Marys.)

Under any circumstances, you need to have all the paper work reviewed by an experienced consumer rights attorney. Whether an attorney can be of any help to you will depend on details not in your question.

Your story does not surprise me at all. And I must caution you that the title pawn is probably out looking for your car so they can take it.

Skaar & Feagle, LLP maintains offices in Marietta (770 427 5600) and Decatur (404 373 1970), Georgia. The... more
Daniel Dwight Bowen

Daniel Dwight Bowen

Business Attorney - Atlanta, GA

Title loan companies can charge very high rates of interest but title pawn companies have been know to add fees not covered by the contract. You need to consult with a consumer attorney in your area to determine if all the charges are legal. Get all of your paper work together and call an attorney soon.

The answer given is for informational purposes only and does not constitute legal advice. Dwight Bowen is a... more

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