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Is there an interest rate cap on title loans in Georgia?

Kingsland, GA |

In November of 2011 I took out a title loan for $1000. My minimum monthly payment is $257.50 and it is all interest. It has now been almost a year and a half, I have paid them over $4000 in interest and I still owe them $1257.50 at the end of each month. Then recently I received a renewal contract from them in the mail to renew my loan. What can I do, and is there any legal action I can take?

Attorney Answers 1


Is the title loan company in Georgia or across the state line in Florida?

If the loan is from a Georgia title pawn, the numbers that you state in your question sound like you are being overcharged.

You need to gather all documents (the original contract, all renewals, all receipts, etc.) and have them reviewed by an experienced consumer rights attorney. The overcharges may (I emphasize MAY) void the title pawn transaction. You need to see an attorney.

Skaar & Feagle, LLP maintains offices in Marietta (770 427 5600) and Decatur (404 373 1970), Georgia. The information ("the answer") provided above is for general information and educational purposes only. The answer should not be taken as legal advice for any individual case or situation. Posting the question and reviewing the answer does not constitute an attorney-client relationship. My firm will ask you to sign a written contract prior to the commencement of representation in any attorney-client relationship. Please contact 770 427 5600 or 404 373 1970, if you wish to discuss your situation further. Skaar & Feagle, LLP accepts select consumer rights cases. These cases include, but are not limited to, cases of abusive and unlawful collection activity, debt defense, credit reporting of false or obsolete (old) information, high interest lenders (title pawns, payday loans), debt management plans, and fraud or unfair practices in the sale and financing of automobiles.

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Yes the title loan company is in Georgia. The only reason I agreed to it was because I was going to pay it off the next month, but something came up and I wasn't able to. And what worse than the 300% APR I'm paying is that if I miss a payment by one day they call my job and everyone I know threatening repo, even if I call ahead and inform them that my payment will be a couple days late.

Kris K. Skaar

Kris K. Skaar


I will be glad to review your documents at no charge to you.



Wow, thank you so much, you're a life saver. I work out of town throughout the week, but I will try and find all the document I have from the loan and either send them to you by email or set up a time I can bring them by in person.

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