TitleMax was founded in 1998 in Columbus, Georgia. The company operates a title lending business and currently has 1,100 offices in 16 states.
The company serves clients who generally have limited access to consumer credit through banks, credit card lenders, and other traditional sources of credit.
TitleMax offers title loans and pawn products that allow customers to meet their liquidity needs by borrowing against the value of their vehicles while retaining the use of their vehicle for the term of the loan.
In November 2019, the company announced the closure of all California locations by May 2020.
TitleMax has received criticism for what is called predatory lending practices.
The company was hit with a fine of $9 Million by the Consumer Financial Protection Bureau for unlawful debt collection practices and for luring consumers into expensive renewals of their existing loans.
A Nevada Court Judge ordered TMX Finance to void over 6,000 loans due to these unlawful practices.
In November 2022, TitleMax was accused of violating the Telephone Consumer Protection act.
TitleMax maintains a corporate office in Savannah, Georgia.
TitleMax was founded in 1998 in Columbus, Georgia. The company operates a title lending business and currently has 1,100 offices in 16 states.
The company serves clients who generally have limited access to consumer credit through banks, credit card lenders, and other traditional sources of credit.
TitleMax offers title loans and pawn products that allow customers to meet their liquidity needs by borrowing against the value of their vehicles while retaining the use of their vehicle for the term of the loan.
History
In November 2019, the company announced the closure of all California locations by May 2020.
TitleMax has received criticism for what is called predatory lending practices.
The company was hit with a fine of $9 Million by the Consumer Financial Protection Bureau for unlawful debt collection practices and for luring consumers into expensive renewals of their existing loans.
A Nevada Court Judge ordered TMX Finance to void over 6,000 loans due to these unlawful practices.
In November 2022, TitleMax was accused of violating the Telephone Consumer Protection act.
TitleMax maintains a corporate office in Savannah, Georgia.