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Texas Car Title And Payday Loan – The Debt Trap: Auto title loans in Texas

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Texas Car Title And Payday Loan – Highest Rated?

Our second in a series of reports, in partnership with the Star-Telegram and the Austin-American Statesman, to help you avoid the debt trap. Here we show how Texas drivers have been beating a path to the money store, taking out and refinancing millions of auto title loans — 1,165,455 of them in 2012 and 1,242,911 of them in 2013. For some, getting out of title loan debt can be an uphill battle.

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17 Comments

  1. Diane Waterbury
    July 31, 2021 at 11:11 pm

    Without too much ado, I'll advice you use CreditMason Repairs to clean up your report when needed. I relunctantly gave them a try after I found an ad on Facebook, I have been grateful i did take the leap of faith. They helped me wipe off foreclosures, rental history and mortgage derogatory on my credit report

  2. alex bee
    July 31, 2021 at 11:11 pm

    Legalized robbery! Crooks from a big road! You gotta be a fool to go there

  3. Randy Hall
    July 31, 2021 at 11:11 pm

    I really do think a lot of these companies are predatory. They count on people not reading the paperwork. People should not sign anything they don't read, and if they do, they shouldn't complain about it.

  4. jvolstad
    July 31, 2021 at 11:11 pm

    What would Dave Ramsey say?

  5. David Perry
    July 31, 2021 at 11:11 pm

    I rather make an appointment with a banker and take out a low interest 24 month loan if I am short on cash.

  6. KALEIDO jess
    July 31, 2021 at 11:11 pm

    Money is never free that’s something I learned from my student debt. I just got mail from a loan company, I’m not interested.

  7. Maria ortiz
    July 31, 2021 at 11:11 pm

    I borrowed $4000.00 and I paid $485.00. A month for one year which was a total of $5820.00 and I still owe them $4000.00 . I borrowed some money from family and paid them off . I will never do that again . They said I had to pay the interest first which was $9000.00 .

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    July 31, 2021 at 11:11 pm

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    July 31, 2021 at 11:11 pm

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  11. John Jamele
    July 31, 2021 at 11:11 pm

    And in the end, the victim highlighted here has no idea what happened or why it happened which means he'll probably do it again.

  12. Ryan Smith
    July 31, 2021 at 11:11 pm

    Ehhh Student loans far far worse

  13. Jeffrey Barr
    July 31, 2021 at 11:11 pm

    I understand a business has to make money,but 200 to 300 percent interest rate is absurd I can understand paying even 75% back in interest.Reason being is because of risk on the lenders behalf,once the customer pays it off the interest rate should be better the next time if they have to get a loan.Fair is fair the goal is always a 100 think about it!!!!

  14. LectronCircuits
    July 31, 2021 at 11:11 pm

    Folks obviously enjoy their title loans; why else would such loans be so popular? Cheers!

  15. Jose 06
    July 31, 2021 at 11:11 pm

    my car might go bye bye!😀

  16. HugeWolf1
    July 31, 2021 at 11:11 pm

    First off I do not agree with Title Loans as they are preformed in the shady practice. These practices are like legalized loan sharks allowed under a capitalistic system.

    But I find that this news story uses a lot of "could have" "Might be" and other non-qualifying statements about the loans. Why did the reporter avoid providing any quantitative facts, such as the percentage rate of the loans, set number of payments, details of the agreements beyond the title ownership. Were there any laws already in place that protected consumers from predatory loans? All this news story does is prey on emotional sentiment and provides no real facts about this business.

  17. Timothy Coman
    July 31, 2021 at 11:11 pm

    sadly enough, i am ashamed to say i worked in this industry for several years till my integrity took over… These places are predatory at the very core… do anything and everything to avoid them…