As a customer, I made a payment with my debit card for a monthly bill I have each month. The amount sometimes changes so I asked for a amortization of payments. After reviewing I noticed 2 big errors. The first being,on one of these payments the total paid was not all applied. I have proof of what was taken out of bank and with a receipt. The missing funds are not applied or listed or shown on the amortization anywhere. I'm The second error is, they took my normal monthly payment and applied it to the intrest portion only, so it looks like I did not make a regular monthly payment. They did not tell me they where going to do this,had no idea until I received the amortization. They now expect me to make another payment in same month for the same amount I just paid to catch up. Unfortunately, this is a title loan business. What they say to pay I do as the company favorite saying is "You don't want your car repossessed?" Does anyone know the consequences of taking money and also applying incorrectly without telling me?

1 Answer 1


Unfortunately, this is a title loan business....

Unfortunately, when you signed on the dotted line for the loan, you agreed to a contract and that payment structure. They are not doing anything without telling you; the way the loan and payments are outlined in the contract you signed.

Best thing to do is Google for free legal help in your area and see if they can help; it's possible that the title loan company is doing something illegal, but it's doubtful, as they want to remain in business. What they are doing could be seen as unethical, but unethical actions are not necessarily illegal.

  • Not apply a payment I suspect is illegal.
    – paparazzo
    Commented Oct 16, 2018 at 18:45
  • @paparazzo Unless the payment was late, then they may have applied all the funds towards interest first, and outstanding balance second.
    – Ron Beyer
    Commented Oct 16, 2018 at 21:11

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