What happens if I don't repay LoanMax on time?

he short answer: You risk losing your car, plus daily interest charges.

The Detailed Breakdown:

Immediate Consequences (Days 1-30 past due):

• Daily overdue interest accrues (check your contract - title loans often have daily interest rates)
• Late fees added to your balance
• Collection calls begin

Mid-Term Consequences (30-60 days past due):

• Your account is marked delinquent
• LoanMax may send a "notice of default"
• Interest continues compounding daily
• A 500loancanballoonto
• 500loancanballoonto800+ rapidly

Severe Consequences (60+ days past due):

• Repossession begins - LoanMax has the legal right to seize your vehicle because they hold the title 
• A repossession agent may locate and take your car (from your home, work, or anywhere it is parked)
• You lose transportation to work, making repayment even harder
• The car is sold at auction for far less than its value
• You owe the remaining balance (deficiency) plus fees
• Your credit is destroyed for 7 years

Real Data: LoanMax has fought in court to keep its repossession numbers secret . Ask yourself why they do not want you to know how many cars they take.