Wendy: Spring

July 30, 2014

I recently got a title loan for $1,200.00. I was told by Loan Star Title Loan that the first month I would get $500.00 off. Lie! They said because of some law that they can’t do that after all. They didn’t even notify me about this change. They said I don’t have to pay anything for the first month but the next month I would have to pay the minimum of $356.97 but my monthly bill is really $416.00. Only $60.00 goes to my principal!!! WOW!! I will never be done paying this.. This is going to take 2 years just to pay the loan of $1,200.00. This is ridiculous! Interest is high!! It leaves me in a big bind now. I’m a single mother, 4 kids, full time work, pay rent and all my bills and I receive assistance for food and kids medicaid. I’m barely making it on my own and now this.. Loan Star had said I qualified to get up to $1,800.00.. I can’t imagine my interest if I would of took that loan..