Columbia woman charged with falsifying title loan applications

Inside Subprime: July 30, 2018

By Lindsay Frankel

According to the South Carolina Law Enforcement Division, a woman was recently charged with filing fake car title applications and falsely obtaining title loans in Columbia. A title loan is a loan that uses a borrower’s car title as collateral, but 22-year-old Quierra Dominique Outten used information for cars she didn’t own to obtain the loans. She used title information for two cars that she had wrecked, which were being held at a Marion, South Carolina wrecker, according to warrants. Outten is charged with two counts of falsely obtaining property valued between $2,000 and $10,000 and two counts of altering, forging, or counterfeiting a title certificate.

Outten is accused of obtaining a loan of $2,000 for a 2007 Honda Accord and $6,250 for a 2011 Chevrolet Cruz. She visited the title lender on two occasions to fill out applications for loans. The lender’s terms clearly state that they don’t offer loans without clear title paperwork, but Outten was able to falsely obtain the funds she needed. Outten failed to repay the loans, which were issued in 2014. She was arrested Friday, June 13, after an investigation requested by the state department of motor vehicles. She currently resides at the Alvin S. Glenn Detention Center.

Title loans in South Carolina are a popular choice for borrowers with bad credit who own vehicles. These loans are often advertised as a fast and easy way to access cash. Lenders will typically offer a loan equivalent to 25-50 percent of the value of the borrower’s car. However, the high interest rates and fees associated with these loans often cause people to rollover their loans, which leads to more interest and fees. This cycle of debt can be difficult for borrowers to overcome. On average, title lenders charge 300 percent annual interest. Infrequently, repossession occurs when borrowers can’t pay back their loans.

In Outten’s case, the cars were wrecked, and there was nothing to repossess. The South Carolina Attorney General’s Office will prosecute her case.

Learn more about the dangers of payday loans in the United States in all of our Subprime Reports.