Ok, I need some advice. I have a express title loan through Speedy Cash storefront in Arizona. I got the loan in February of 2011, and have made payments on it every 2 weeks with them taking it out of my checking account. I have never once been late, and have never taken out more than the original 1500.00 they gave me.
In the meantime we moved out of AZ and back to CA and I switched jobs, and actually sold the car that they had listed on the loan. I never really notified them since I planned on just letting the payments post every 2 weeks and pay off the loan.
We were looking at out account the other day and saw the last payment we paid them and thought to call them to see how much was left because we are getting tired of these 176.00 payments every 2 weeks! They told me our balance is a little over 1400.00 still! I told them that had to be impossible and they said only 2% goes to the principal of the loan. I checked our account and we have paid them a little over 4400.00 since we got the loan.
The numbers dont add up, but I figured it was our mess and we needed to pay the loan off. I am not expecting to get the money for free and not fulfill my obligation, even though I feel we should be done with them. I asked them if they could work with me on the payments and possibly do a extended payment plan like I saw on the website, which is 4 payments with no more interest. They said that there was nothing that I could do other than pay more every 2 weeks. We can't really pay more than we are paying now, and I really tried to work with them.
They got rude and said that they would just take the car if I didnt pay. I explained to them I didnt have the car anymore, then the threatened to come to my job. Told them I dont work there anymore, and I live in another state. They refused to work with me and im not sure what to do. They said that they dont set up payment arrangements unless it goes to their collections department.
I was surprised because I have actually been a good customer for them and paid them a ton, I read so many stories of people getting them and not being able to make the first few payments. I am thinking about just closing my checking account and dealing with them when they call me, we have 2 accounts and really dont need the 2nd account so it wouldnt affect us. I dont want to see the account in collections, but I dont know what else to do. Any advice?