VIP Finance of Texas, Inc.

Mrs. [redacted] obtained a title loan, which pledges her vehicle as collateral, on 8/17/16.  As per the terms of our contract with Mrs. [redacted], a monthly payment of $270 was required for repayment.  Since doing the loan Mrs. [redacted] had 4 payments come due of $270, of which she had only paid...

2.  The last payment received from Mrs. [redacted] was on 10/24/16.  This left 2 payments past due on her account.  Mrs. [redacted] did not communicate with us regarding her payment, and as such we had no way of knowing she had mailed a payment...which was since never received.  At the very least had Mrs. [redacted] communicated with us we could have informed her of where her account stood, and also informed her that a payment was never received.  In addition, our system sends out a reminder via SMS when our customers are 14 days past due.  I show a reminder was sent to Mrs. [redacted] on 12/1/16 to remind her she had a payment due. Due to the significant past due balance on Mrs. [redacted]'s account, we were forced to enforce our security agreement and repossession agreement  on 12/28/16 and repossess her vehicle as per the terms of our contract regarding default in order to protect ourselves from financial loss on 1/9/17. Mrs. [redacted] was allowed the opportunity to refinance her account, which we are not required to do, by paying her fee balance due.  Included in her fee balance was a fee for being repossessed, a standard fee in the auto-lending industry. As a title lender, and based on our research, we have the most lenient policy regarding default. [redacted]VIP Finance of Texas, Inc.Manager - Arlington Location