Do you think LoanMart is not playing fair? You have rights under the law and we can help you at no cost to you. UDAAP is an acronym representing laws that prohibit Unfair, Deceptive, or Abusive Acts or Practices in the context of trade or business.
THE BEST PART IS…
If LoanMart violated the law, you may be entitled to money damages and LoanMart will pay our fees and costs. You won’t owe us a dime for our services. Plus, some of our clients also receive debt relief and cleaned-up credit reports. You have nothing to lose! Call us today at 312-300-5996 for a free consultation.
What is LoanMart?
LoanMart is a lending company that provides auto title loans, auto pawn loans, payday loans, installment loans, and traditional bank loans as well as emergency quick cash loans to its clients. The company serves the states of California, Arizona, New Mexico, Utah, Missouri, Alabama, and Wisconsin. LoanMart has an A+ rating by the Better Business Bureau but is not accredited by BBB. The company was founded in 2001.
LoanMart Address, Phone Number, and Contact Information
15400 Sherman Way Unit 170
Van Nuys, CA 91406
Monday - Friday: 8 am - 6 pm
Saturday: 8 am - 5 pm
A major complaint consumers have against LoanMart involves their misleading ads. According to reports, the lender told clients that they would not seize vehicles for their auto title loans. However, upon successfully getting their loans, LoanMart had consumers’ vehicles towed.
Consumers of LoanMart complained about many billing issues including uncleared accounts and exorbitant interest rates. According to one account, a client who has reportedly settled their accounts with LoanMart was being harassed for further payments. LoanMart has also badgered the said consumer for personal information.
Poor Customer Service
On top of their disappointing financial services, LoanMart’s consumers have also lamented the company’s customer service. Consumers looking for ways to fix issues with their loans or accounts were faced with knowledgeable and basically unhelpful customer representatives. This poor service has led to many consumers tortured with their unresolved issues.
Unfortunately, misleading ads, billing issues, lousy customer relation complaints are just the beginning for LoanMart. The lender’s customers are left wondering what options they have regarding their consumer rights.
We Fix Complaints When Customer Service Won’t
Has LoanMart used misleading sales tactics? Have you received poor service? Do you have complaints with billing? Do you want customer service at LoanMart to listen?
A lot of LoanMart Corporation customers aren’t happy with their service and the Better Business Bureau lists 80 customer complaints against the company in the past three years, including complaints for billing and collections practices, problems with a service/product, advertising and sales, among others.
If your complaints haven’t been heard, we can help. At Agruss Law Firm, LLC we help customers who have been mistreated by big companies--much like LoanMart--and we turn your complaints into resolutions!
We’ll not only file your legal demands with LoanMart, we’ll negotiate with the company. If your claim isn’t resolved through these negotiations, we’ll work through the legal process that is outlined in your LoanMart contract, which is typically arbitration.
Agruss Law Firm, LLC gets results--including zero balances, refunds, and other compensation.
Here’s How to Make Big Companies Listen
It can be frustrating when you rely on a service and don’t get the results you’ve paid for. Big companies make mistakes every day and not only is it their fault, but it can also cost you money, time, and leave you with big headaches.
Have you tried calling LoanMart to address an issue, only to be told that the representative has no authority to do so? Or maybe you’ve tried talking to someone higher up in the company, only to be ignored, dismissed, or they take too long, continuing to waste your precious time. Maybe you’ve sent an email to the company which only resulted in a prefabricated response or they never follow through with what they’ve promised.
When you’re limited in your choices for service providers or you’re locked into a contract, what can you do?
Fortunately, you do have options.
Use Arbitration to Settle Your Complaint
Most companies like LoanMart have an arbitration clause in their contracts to prevent being taken to court for traditional litigation. This is actually an advantage for the consumer. When you request an arbitration hearing, an independent third-party (the arbitrator) with knowledge of the type of situation involved will listen to the facts from both sides and make an impartial, binding decision. LoanMart will have to do a lot of work and there is no guarantee that they will have a successful outcome.
Arbitration is Fast, Inexpensive, and Private
Arbitration with LoanMart is conducted through the American Arbitration Association (AAA). According to the AAA Consumer Due Process Protocol, arbitration through AAA will comply with their Statement of Principles, which includes:
- The process is fundamentally fair - All parties are entitled to qualified, competent, impartial arbitrators who will conduct a fair hearing.
- You get access to all relevant information - This includes reasonable costs, confidentiality, reasonable time limits, and meeting times and/or locations that are agreeable to both parties.
- Transparency - AAA provides clear arbitration agreements and the ability for each side to hire their own representation.
- Just process - Arbitration allows the arbitrator to award the same relief as traditional litigation in a binding decision.
- Alternative to arbitration - Mediation and the ability to take the case to small claims court should be available in some cases.
Arbitration Gives you Control and Leverage
When LoanMart is alerted that you plan to pursue arbitration, they know it will cost them money out of pocket. Not only do they run the risk of losing the case, but they will also pay for their mistake(s) and the arbitration itself. This gives you more leverage with your demands.
If LoanMart doesn’t meet those demands and you have a real complaint, Agruss Law Firm, LLC can help by representing you in arbitration where you will get a fair, just, and transparent hearing.
Control and Leverage Triggers Faster Settlements
Large companies like LoanMart don’t like the uncertainty and loss of control that comes with arbitration. Not only do they lose the advantage in the situation, but you’re also on equal footing with them in the eyes of arbitration.
The first step in taking on LoanMart is to formally raise your complaint. The lawyers at Agruss Law Firm, LLC can help you to do so. We will send a letter of demands to the corporate offices of LoanMart, letting them know that you’re ready to begin arbitration if a satisfactory resolution is not achieved. Typically, this is 30 days, but it will depend on your specific contract with LoanMart.
Approximately 50% of cases will settle before proceeding to an arbitration hearing during this time. However, if LoanMart doesn’t offer a reasonable settlement within the appropriate time frame, the next step would be filing a case with AAA. Agruss Law Firm, LLC will not only put together the necessary paperwork for arbitration, but we will also help you take the next steps in the arbitration process.
UDAAP and Arbitration
UDAAP is an acronym representing laws that prohibit Unfair, Deceptive, or Abusive Acts or Practices in the context of trade or business. This includes misrepresentation, deception, false advertising, or false promises. These laws emerged following the Dodd-Frank Wall Street Reform and Consumer Protection Act that was enacted in response to the 2008 financial crisis. The ultimate goal with these laws is geared towards protecting consumers involved in financial transactions, educating consumers on their rights, and allowing them access to information and resources to best inform their decisions.
UDAAP laws are regulated by two organizations, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC). The FTC expanded the initial UDAAP laws in 2004 to include unfair and deceptive acts and practices. Some standards for unfairness, in particular, include if it causes or is likely to cause substantial injury to consumers, the injury is not reasonably avoidable by consumers, and the injury is not outweighed by countervailing benefits to consumers or to competition.
Every state has UDAAP laws, which can vary widely. However, the lawyers at Agruss Law Firm, LLC understand these laws and can use them to get compensation for deceptive practices, representing consumers throughout the country in cases of arbitration at no cost to them. The company will not only pay the consumer, but they will also pay my fees as well. The consumer will never pay me a cent.
If you’re dealing with an issue with LoanMart, you might try filing a complaint with the BBB or the customer service team with LoanMart. Unfortunately, these avenues won’t always lead to a successful resolution for you, the customer. Instead, you may want to consider an experienced arbitration lawyer to take on your case.
Arbitration is a very useful tool for resolving disputes, and Agruss Law Firm, LLC can help. With our expert guidance, we bring the big companies to the table and provide the support needed to get your bills corrected, credit reports fixed, improper fees refunded, and more. Let us pick up the sword for you; you have nothing to lose.
How Do I File a Complaint Against LoanMart?
We will use your state’s UDAAP law to file a complaint in Arbitration on your behalf at no cost to you. UDAAP laws include misrepresentation, deception, false advertising, or false promises. Under your state’s UDAAP law, you are likely entitled to money damages for your actual damages. Plus, the other side will pay our fees and costs. You will not pay us a penny. These laws emerged following the Dodd-Frank Wall Street Reform and Consumer Protection Act that was enacted in response to the 2008 financial crisis. The ultimate goal with these laws is geared towards protecting consumers involved in financial transactions, educating consumers on their rights, and allowing them access to information and resources to best inform their decisions.
We are proud to serve consumers in arbitration cases. We see you as a person, not just a client – and that makes us better at the work we do. We listen. We learn your story. And, as we help you get the money you deserve, we go above and beyond in a way most law firms never could and never would. Because we’re not just lawyers. And you’re not just a client. We’re friends, neighbors, family. We’re all people and here at Agruss Law Firm, we put People, First.
Share Your Complaints Below Against LoanMart
We encourage you to post your complaints about LoanMart. Sharing your complaints against this big company can help other consumers understand what to do when they have problems with this company. Sharing your experience may help someone else!
Submit a Complaint filed by: Timothy8 days ago
They sent me $1,800 (8/12/21) on a 2006 Mercedes e350. And after paying $165 per month for over a year they out of the blue said since I was up to date on payments I “qualified “ for a $700 loan but they would reset the 2k loan to 3k I foolishly accepted the new extension and they said payment would be $233 per month until 3k is paid. Hell of extortion my first payment was 2 weeks late because as a veteran I get paid every first of each month they wanted monies on the 19th whereas before it was understood I could and did pay every first but the new loan started when they sent it on the day I was about to pay as I emailed them I woke up the next day my car was gone. I have ptsd as an army veteran 13b,88m 1987-1993 Persian gulf I had an episode I called the police reported at stolen as I live in ( Richmond Virginia) Loanmart is not down I heard they were barred from scamming citizens here in this State of the commonwealth so when I was told about the repo they gave me the number Loanmart wanted me to send them $690 when before it was $233 then I still had to pay another 125 to the tow company and they said my next bill would be in 2 weeks ! The false advertising “that they are helping make life easier with a little help” or some crap like that is pure con to someone who never dealt with these types of offers that sound good but are illegal extortionists I paid the money to get my car back but plan to sue them expose their bad false business as bad. I also have a g6 Pontiac 2007 they sent me $1800 10/05/21 been paying $160 every month never missed a payment yet they say I was only paying interest and still owe the the original balance 2k So in all they want 5k to be done. I sent about that much already. This has to stop its extortion in Virginia
Submit a Complaint filed by: Alfonsoabout 2 months ago
I have been having issues with Loanmart for awhile now. I am currently unemployed an looking for a job. However, Loanmart has threatened me with seizing my only vehicle if I did not make a payment. Customer service is terrible an unwilling to make payment arrangements. Loanmart has high interest rates an the balance doesn’t lower.
Submit a Complaint filed by: Jennifer3 months ago
I have a title loan through LoanMart. I believe the interest rate is something obscene. 200% if I remember correctly. However, I do not have have access to a copy of the loan paperwork. LoanMart has not sent me a copy of the loan agreement regardless of how many times I have asked. Additionally, I live in the state of Kentucky. My car is titled in KY. Based on the information I've seen, LoanMart is not even able to offer a loan to residents of KY? Let alone with an interest rate of 200%? Is this something that is worth legally pursuing?
Submit a Complaint filed by: brittany3 months ago
I opened an account with LoanMart in 2017 with a 2005 Nissan Xterra approx $1800. I ran into financial hardship with unexpected circumstances. I fell behind in payments and received an email from Ally. Stated I needed to schedule full payment for 6/30/17. I explained that I couldn't afford full payment at that moment. It was said that If $215.47 was paid it would lift everything from my account. I scheduled it by email with her. Bank account kept rejecting payment. I called in and spoke to Lester on 7/3/17 when payment was not pulled from the account. explained the situation. They had me esign a paper saying that my payment of $215.47 will be due on 7/14/21 and esigned a paper moving the other month to end of my loan. This gave time for me to get my new debit card and make the secured payment in my name as requested instead of routing and acct. num. Received email on 7/7/17 from Bryan saying my payment didn't go through and I voided everything. I was under impression from LoanMart rep from 7/3/17 documents and conversation I had handled situation and payment of $215.47 was due 7/14/21 and remaining payment was moved to end of loan extending loan+interest. I had to put the money on a relatives card for short notice of contract being voided and the secured payment requested. Rep told me the policy was I had to pay with a debit card on the portal if not in my name but it was still secured. Secured payment on 7/10/17. 7/11/17 car was repoed. Called 7/11 - Rep admitted to wrongly repoe. Rep requested $600 that day, it could not be waived even if the company is wrong. Explained I could not pay $600 right there after making a secured payment of $215.47 the night before. No budge or negotiation for their mistake. I finally gave up. I have only requested them to take it off my credit as it was their wrongful doing. -$12k on my credit for their mistake. That is 6 times the original loan amount. LoanMart is their own creditor. I called the number on the credit report and it is not in service. I called in and requested to talk to someone. I was transferred to Jose and he sent an email 5/1/18 requesting me to call him to get the car back. A year later I replied right away with the current phone number to call. He calls and harrasses me about paying. I explained the situation and he kept repeating I owe them, 2/3/2022 Today I requested to be transferred right away. Transferred to Ruben. Ruben reads every note and email to me showing communication no avoidance and different rep notes. He tells me I am a scenario they see often and if I want him to listen to calls from 2017 he can but based off what he is reading hes going to assume I am in the wrong and misconstruing it. I inform him I want someone to review my account and all calls and even requested when I should call back if I do not hear back. He tells me he's going to listen right then and return the call. He calls me less than 30 minutes later saying he cant find anything from the dates, after reading all notes and emails out loud to me. and if I can provide the phone number and if not then im at a loss but i can pay them 2k instead of 3k to remove from credit. I have requested this be taken off my credit report and this has now become an issue with harassment and ruining my credit on the wrongful doing of a company and charging over 600% more than loan amount. This company will lie and say you are covered and then have a new rep contact you saying different things and contradicting arrangements made. They talk down to the customer and will not negotiate.
Submit a Complaint filed by: Miguel3 months ago
I paid off loanmart in full back on January 3 2022. As of today loanmart has not returned my car Title and still reporting false information to all 3 credit business Bureau that the account is still open and still owe a balance which is effecting my power to get a loan. Also I have not been able to sell my car to potential buyers due to not having my title. I emailed loanmart mart and called with no success. I fulfilled my contract with them and they clearly breached the contract by not returning my title and removing themselves as lien-holders