Los Angeles California, Westlake Financial services Being screwed over Los Angeles California, Westlake Financial - Wilshire Consumer Credit Witholding Title after loan payoff and trying to charge consumers for title/lien. So my question is essentially do i have any other reasonable options? All rights reserved. SYNCB/PPC: What Is It and Why Is It on My Credit Report? I think my choices are narrowed down to give it back, stop making payments and wait for repo, or commit insurance fraud. I did. However, they are so sneaky and distrustful that they reported this information to the credit bureau in March of 2014. She said that it would not be a problem and if the dealer hadn't made the payment by the end of the day, I'd call the next day and pay it after I got out of surgery. You could do what's called a "voluntary repossession," where you contact your lender and indicate your desire to turn your vehicle over to it. As an alternative to car repossession, you can try negotiating with your lender for a more manageable repayment plan. Now i pay $288.51 a month with a 22.5 interest rate and 177 a month for insurance for this thing on a roughly 2000/mo(takehome) income. Los Angeles California Nationwide, Enrique Rocha Westlake Financial Services Nationwide, Westlake Financial California Los Angeles California, Westlake Financial services I financed a VW golf 2010 with westlake for $8500 , They obligated me to pay them $17000 in during 5 years. I do not have a policy with this company nor have I ever done business with this company. WebWestlake Financial Auto Loan. We promise to always deliver the best financial advice that we can. However, it shouldnt hurt your credit score. They are a sub-prime lender and want to make sure they get THEIR money. Taking the time to explore your options for eliminating debt now will save you a lot of money down the road. The issue ended up taking about six weeks to repair as they had to wait for parts. But beware: Youll ultimately pay more for the car before the loan is paid off. Well everything was fine after paying everything they had asked us to pay! For one, you're probably not going to beat them at their own game, and the longer it takes to find it (and the more difficult you make it), the more they're going to charge you for their services in the end. Los Angeles Nationwide, Westlake Financial Illegal Repossession with damage to vehicle and taking no responsibility Los Angeles, CA Nationwide, Westlake Financial Services None I have been threatened multiple times with criminal prosecution, i found out the vehicle was in the flood of Hurricane Sandy, my engine died before my contract was ever up. I would of took that money and put it on a down payment with a company that isn't a bunch of harassing liars! Bents Dulcio writes with a humble, field-level view on personal finance. As businesses like this soda and candy shop in Asheville, North Carolina, start to reopen, you can bet repossession companies will be back to work, too. WHEREAS, WESTLAKE SERVICES, LLC d/b/a WESTLAKE FINANCIAL SERVICES, Los Angeles, California (Westlake or the Company), Westlake must immediately cease assessing repossession close fees on Massachusetts accounts with defaults that are cured prior to repossession pursuant to General Laws chapter 255B, sections 20A and If you have any questions about your account, please contact our customer service team at 888-739-9192. So before you sit here and say I have bad credit for different reasons know your facts! We promise to always deliver the best financial advice that we can. This report was posted on Ripoff Report on 10/22/2014 08:51 PM and is a permanent record located here: YOU made a legal agreement to pay them a certain amount on a certain date for a specific amount of time. Again, it shouldnt affect your credit score. A late-fee waiver is when the lender agrees not to collect a late fee when you make a payment within 30 days of its due date. They were rude on the phone, repeatedly, and have poor morals and ethics running rampant in their business. The thing about getting a sub-prime loan is just doing what you have to do until youve built your credit enough to trade in or refi (make on time payments). If you've fallen behind (or you think you're going to fall behind) on your car payment for 90 days or longer, you may very well be at risk of having your car repossessed. They should know we are making currents payments they call us every month 2 to 3 days before the car payment is even due! Dont want to wait? (2008, November). Yes, I also want to receive the CNET Insider newsletter, keeping me up to date with all things CNET. Better Business Bureau:I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is not satisfactory as it's none of their business where my money comes from. We strive to help dealers in all aspects of their business reach their goals and achieve success. Westlake Financial services Repossession on my credit report and I am in possession of the vehicle still making payments! Anderson said the company over the last few years has made commissions a smaller part of overall compensation, fired collectors who broke policies, beefed up compliance staff and started monitoring more calls to keep collectors in bounds. All of our articles undergo several rounds of fact-checking before we publish them, and we do our best to keep them as no-nonsense and jargon-free as possible while still delivering the information that you need. They decided to give me some money to cover fuel expenses back and forth to ********** (an hour and a half drive for us) and for my troubles. Youll still need a way to get around. We challenge inaccurate negative items with the bureaus and your creditors. What are the consequences of Westlake repossessing your car? Do the right thing Westlake Financial Services. Horrible customer service is all you get! And Westlake is just one of seven firms that make up the multibillion-dollar empire controlled by Hankey, estimated to be worth $2.56 billion. However, I see where we are going with this. If you buy through our links, we may get a commission. I thought nothing of it. Generally, the law only compels lenders to release your car if you pay off the loan plus any towing and storage charges that have accrued. By signing up, you will receive newsletters and promotional content and agree to our. You have no intelligent rebuttal to his responsenone at all! They told us 24 to 48 hours we should have our car released from the Adjusters once they send them the release forum. Depending on your credit score, you could fall into one of four tiers of interest rates: Standard, Gold, Platinum and Titanium. Dale Smith is a former Associate Writer on the How-To team at CNET. Copyright 1997-2023, Ripoff Report. Get answers to our most commonly asked questions about Westlake here. Monday morning we get to our car and find our debit card and money still there and went straight to ******* to send a MonyGram of ******** directly to them. If the repo is correct then it has a 100% right to be on your bureau reports. 1. Don't just sit back and wait until the bank repos your car. How voluntary repossession works Voluntarily surrendering a car involves informing your lender that you can no longer make payments and intend to return it. Here's a look at the most current information and resources we could locate to help you deal with your car payment. YOU would have still been on the hook for the balance between what they sold it for and the remaining amount on the loan. Los Angeles California, Westlake Financial services I have an account with Westlake, but they accessed my son's bank account and withdrew money Los Angeles California, Westlake financial They keep harassing myself, my family and my job. Thank you for bringing this matter to our attention. Thank you for bringing this matter to our attention. Estimated amount consumers saved since 1997: $15,590,010,907. I decided to put that money in my account, which is what any normal person would do, and paid my loan bill from my account, which, where else would you pay it from. West Palm Beach Florida, Tuffy Tire & Auto Service Center Mavis Tire & Brake Charged Nearly $700 for Non-Fix Bay City Michigan, Lighting New York lighting by Jared Sent damaged product wont refund after I sent back damaged product website description is fake, Tara U THEY SCAM THOUSANDS OF PEOPLE WITH THEIR FLOWER ORDERS. If, for example, if you have $40,000 of home equity, you would qualify to borrow $32,000 (40,000 x .80), which should be enough to pay off just about any car loan and possibly other debts like credit cards. Credit Monitoring, Credit Reporting Services and Identity Protection, Credit Counseling for Veterans & Active Duty Military, Recognizing a Credit Repair or Credit Counseling Scam. If you own a home, you may want to look into a home equity loan. I just want to make this clear you guys are nothing but scammers Ive been paying my payments and at no point I can see where my payments is going anywhere are that my lone is going down all they do is collect my payments and add more money to my payments so I repossess the car they come and get the car and they still call me telling that I have miss my payments which I dont have a payment to do you guys are nothing but big scammers. How Palm Springs ran out Black and Latino families to build a fantasy for rich, white people, 17 SoCal hiking trails that are blooming with wildflowers (but probably not for long! READ: Foreign websites steal our content, Click Here to read other Ripoff Reports on Westlake Financial. Jesslyn Firman is a credit analyst for FinanceJar. Thank you for bringing this matter to our attention. Find a willing trader and fill out the paperwork. Should the customer have additional questions or concerns, he or she may reach Western Funding directly at the contact information provided in the written response. There are two types of vehicle repossession which are voluntary and involuntary. Many states have laws on the books about how long and under what conditions lenders must allow you the opportunity to get your vehicle back, but the terms aren't exactly favorable, especially if you're in the kind of financial situation that led to repo in the first place. Los Angeles California, Westlake auto finance June 5 I traded in the vehicle I had financed with Westlake BEFORE my pmt was due. Pros of voluntary surrender We hope this template helps you achieve your goals. Your credit score will take a bigger hit if you incur any of the following negative marks on your credit report before or after the repossession: Like most negative items, all repossessions stay on your credit report for seven years, starting from the date your lender reported your first late payment. The truck was illegally repossession in less then a month by a shady repo company that tried to run me off the road and destroy the truck. The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. So you say I am the liar here your company is whack! He left The Times in 2019. Westlake has about 329,000 customers. The dealer felt bad for us and all the money we'd spent going back and forth from our home to ********** as well as the "pain" we experienced not having the car we'd purchased-- it was/is the exact color and model my wife wanted. Frankly, it should not matter where my money comes from. That has been particularly true during the COVID pandemic. The auto repossession industry never quite figured out whether repo companies, many of whichlaid off dozens of employees early on in the pandemic, were even allowed to operate in areas under strict shelter-in-place orders. How is this even possible if we are making current payments and still in possession of the vehicle. How long does negative information remain on my credit report? Westlake executives blamed the abuses on rogue employees and said they have put systems in place to prevent further illegal activity. Dont be afraid to drive a beater, if thats all you can afford. Deferrals (or loan extensions) are when the lender allows you to delay your next one or two payments before resuming the normal payment schedule. Most types of property that can be financed can also be surrendered or repossessed, including appliances, furniture, and jewelry. Before we drove off the lot, the car died on us. But they would have then sold the car at auction. they cannot deliver what they say an insane amount of money Pittsburgh Pennsylvania, Attorney Sharon K. Campbell COLLUDES with Wells Fargo Dallas Texas, BlackSwanCapital.co Black Swan Enterprises Peter Tumbas Black Swan Capital The offered guaranteed low-cost financing if I first stepped in high-cost short term financing New York New York, Geeks Ondemand LLC, Lizeth Lagomarcino Papaleo Geeks Ondemand LLC, The Geeks Mob SCAM! He learned how to cut financial corners while acquiring a B.S. Here's what you need to know about rent relief during the pandemic, as well as what assistance is available if you have a mortgage. Home Debt Voluntary Repossession: Everything You Need to Know. You'll want to know what kinds of programs your bank, credit union or other auto loan provider may have available to you. Lease Takeovers Try to find somebody willing to take on your lease. We know that taking financial advice from us requires a lot of trust on your part. I am not liable for this debt with western funding and do not have a contract with convergent. Westlake financial Harassment California, Westlake financial servicesHelp with Westlake financial services Oct. 2 2018. We dont accept compensation in exchange for reviews or articles, and we dont directly sell any products or services ourselves. Types Of Repossession. He was rude, telling me I owed the pmt regardless. How to avoid leaving money on the table. WebVoluntary repossessions stay on your credit report up to seven years. If youre anywhere from 30-90 days late, your car could get repossessed. Consumers educating consumers., Complaints Reviews Scams Lawsuits Frauds Reported.. Westlake is more than just an indirect auto lender. Those are a big no-no with lenderseven if they are beyond the 24 months. Do Not Sell or Share My Personal Information, First Republic up in air as regulators juggle banks fate, 8 best interview questions to land a top job, Bank rates are up. Its unfortunate we couldnt fix it all in the past.. 12/22/2022. Involuntary repossession means the lender seizes your vehicle because you are behind on your car payments.
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