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The Problem of Arm Robbery Faced by Car Title Loan Companies

By sbanderas | September 13 2018
Categories: Blog,  News

Arm Robbery – The Peril of Car Title Loan Company

A car title loan company is the destination for people who need fast loans, and are willing to pawn their car title in exchange for the emergency cash loan.

Armed Robbery Attacks and Car Title Loans

This issue of armed robbery has been the persistent challenge of car title loan companies.

Car title loan companies have not only been visited by customers who need financial help, but they’ve constantly also been visited by armed robbers too.

Most times, there is cash in the title loan office, and so many title loan companies have been robbed at gunpoint for cash on several occasions.

The Car Title Loan process

A car title loan is a fast loan or same day loan option that offers individuals an opportunity of applying for an instant emergency cash loan.

And quickly receiving the money without having to go through the elaborate procedure required by banks or credit unions.

Just about anybody can qualify for the loan provided they have equity in their car or own the car with their name on the title.

Who needs the Loan?

People who approach car title loan companies for a cash advance are usually those who;

  • Have poor or bad credit and are unqualified for traditional loans from a bank.
  • Are faced with critical situations that require an urgent financial response.
  • Do not have a substantial asset to present as collateral for a loan

However, in recent times, armed robbers have also found a reason to visit car title loan companies. And auto title loan companies have suffered a great deal because of increased robbery activities.

Some Car Title Loan Robbery Victims

  • Reports state that a gunman who had his face covered with a camouflage scarf and wore a dark hoodie and sunglasses forced an employee of Fort Mill Title Loan company into the restroom, demanding cash and the location of the safe.

The suspect escaped from the back of the complex with an undetermined cash sum.

  • LoanMax Title loans on N. Main Street are another arm robbery victim. According to authorities, a man with a gun, wearing a bandana over his face, walked into the complex and demanded cash.

The suspect escaped and was never found, though it was unclear if he took anything.

  • Recently, in April 2018, Dover Title Loan business located at 105 North Dupont Highway was robbed at gunpoint by a man who pointed a short pistol and demanded money.

The suspect fled the scene with some cash and was never apprehended.

Any Solutions?

Car title loan companies are big businesses that sometimes have to keep cash within the business complex to satisfy their customer, but these incessant robbery attacks that hit now and then is a dilemma.

While these companies are taking proactive measures to cup the menace, the police should be more vigilant, on the watch to investigate and make arrests.

 

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