TitleMax to Give Refunds of Owners of Repossessed Cars

August 7, 2014
car title lending news
TitleMax of Virginia is on the hook for more than $117,000, which it will credit or refund to Washington, D.C., customers whose vehicles were towed by the lender. The cars were collateral for auto title loans, whose steep interest often prevents borrowers from repaying the debt on time and forces them to repeatedly renew the loans instead.

Eligible District residents whose vehicles were seized should be notified by TitleMax by the end of August.

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