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Cash Point Reviews (3)

Review: In May of 2013 I entered into Title Loan Agreement for my vehicle. The original loan was for $2,500. I have made 12 scheduled payments in the amount of $523.32. My payments were due on the 13th of each month. On several occasions I could not pay make the payment on the 13th, but made it on the last day of the month. I was assessed a late fee in addition to my regular payment. This totaled $549.49. On May 29, 2014 I made what I thought was final regular payment plus a late payment totaling $549.49. To my surprise, the customer service representative said that I owed a 13th payment of 523.32. To date including late fees, I have paid $6436.86 for an original loan of $2500. I never received any documentation saying that a 13th payment would be due because I did not pay on the 13th, even though I paid late fees. I told the customer service representative that you are charging me a "late fee for a late fee". He said that I should refer to clause #3 in the contract that states, "Interest under this agreement will be calculated on a simple interest basis and shall accrue at a daily rate of 1/365 of 213.33% multiplied by the unpaid Principal balance (the Principal less the amount the Principal has been reduced by payments) for each day that any amount remains due to LENDER. Interest is computed on the basis of the number of days actually elapsed. Late fees are a penalty for not paying on a given date. I can see if I did not pay any late fees, but I did. Why should I have to pay another penalty for having paid the late fees. As I stated earlier, I did not receive any written notification by text, email or regular mail that I would be making a 13th payment. This practice seems quite suspicious and dubious. Can you HELP ?Desired Settlement: I would like for [redacted] (Trading as CashPoint) of [redacted], Virginia to not require a 13th payment for my Car Title Loan and accept the $6,436.86 that I have paid thus far, for the $2,500 loan. In accepting these payments totaling $6,436.86 for a $2,500 Car Title Loan, Cash Point of [redacted], Virginia agrees to release back to me all titles and claims to my vehicle.

Review: I completed my business with this title loan company around the summer of last year. After I paid them, and was over-charged, and not given an itemized receipt after inquiring for one, I was never explained how to go about getting my title back, so I thought it would be mailed to me automatically. I asked them after a couple of months, what I needed to do, and they mailed me a letter, and told me that all I needed to do was take it to the DMV and they would handle everything. I took the letter to the DMV in February, and was told that Cashpoint has just titled the car in their name a little earlier in February, 2014. I was at a loss, because my business with them was done. I alerted the company of the mistake as soon as the DMV informed me that one had been made. I have been calling a couple of times a week, and have rarely been able to get ahold of the manager at Cash point, [redacted]. The only times I have spoken to her, she told me that she is waiting on the DMV. That was a couple of weeks ago. I just want my car title back so that I can sell my car. This company has no business with my car title, and no business not giving it back to me.Desired Settlement: I Would like my car title back from this company ASAP.

Review: we got a loan on our car, they say 7 months ago. The date was on the 28th of the month. we explained to them we dont get paid until the 3rd and would make our payments then and would that be a problem? they told us no that wasnt a problem because you had a few days le-way. they said they would put a note in the computer to that effect. we called the 3rd of this month because we were gonna pay off our loan which was origannly a 500 dollar loan. we find out our payoff was 528. we said no you need to check again. they then said everything we have paid went towards the loan fee and the rest to late fees. I called them today and talked to a lady and told her those late fees needed to be taken off and reapplied to our loan. she said no, it doesnt work that way. I told her had we known we would be charged a late fee everyday past the 28th we would never had taken out the loan. and that if they didnt want to fix it I was going to file a complaintDesired Settlement: I want all the money they took from us for late fees or whatever they call it put back towards my principle. the loan even states you have 7 days before any fees are applied. as of today they say on my loan I still owe 498, I should only owe 200 and something, its only a 12 month loan

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Description: Payday Loans, Loans

Address: 6801 Richmond Highway, Alexandria, Virginia, United States, 22306

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