. I want this removed off my credit. I am not liable for this debt with western funding and do not have a contract with convergent. Among the hardball tactics, according to the Consumer Financial Protection Bureau, was a program that disguised debt collectors caller ID information to make it appear calls were coming from pizza parlors or florists. But beware: Youll ultimately pay more for the car before the loan is paid off. If you have time, there are plenty of avenues to make money. 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. END OF STORY! Obviously, you dont want to default on your payments. However, if you cant, a voluntary repo will almost always be better than an involuntary one. Corporate Advocacy Program: How to repair your business reputation. What To Do When You Cant Pay Car Payment - Debt.org IN 3 WEEKS THEY SENT 3 OF MY RECIPIENTS DEAD FROZEN TINY BOUQUETS calgary. Pretending to be family members and even flower shops and pizza delivery services, the collectors tried to get borrowers to disclose their location or the location of the vehicle, for possible repossession, the bureau said. 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). This isn't right when I have the vehicle, make payments on it and drive it everyday! How is this going to impact my credit score? Toyota dealership contacted them ( I was sitting right there) and Westlake gave them a 10 day payoff amt. Once we get the customer to pick up the phone, we can tell them how important it is that they make their payment.. Here is the thing your credit report shows your HISTORY. Well guide you through the process. 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. WebYou can challenge a creditor's claim for a deficiency judgment if it failed to legally repossess the car, such as for the following reasons: Breach of Peace Creditors can't breach the peace while repossessing the car. The next day I received a call from *****/***** requesting all correspondence from the dealer. Long story short, i scrounged up 1000 to spend on transport and couldn't find anything remotely dependable in that price range, so i bought a 2002 Ford f150 from a low credit dealership. However, its unclear how FICO and VantageScore (the two main credit scoring companies in the US) differentiate between involuntary and voluntary repossession when calculating your credit score. Dont be afraid to drive a beater, if thats all you can afford. The companies, he said, also are in the process of installing an automated system that will analyze debt-collection calls. Typically, missing a car payment can damage your credit score or even lead to the bank repossessing your vehicle. One practice the bureau highlighted was the use of a software program called Skip Tracy that allowed debt collectors to select a phone number and caller ID text that customers would see when called about their loans. Covid -19, millions of people have problems paying their bills, due to massive unemployment, business closures and so forth. Dale Smith is a former Associate Writer on the How-To team at CNET. I do not have a policy with this company nor have I ever done business with this company. We got ahold of Western Funding and was emailed a settle amount to get our car back. So they are right it is going to remain on your credit for7 years. I'm Eligible for a Second COVID Vaccine Booster. 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. There are two types of vehicle repossession which are voluntary and involuntary. they would call me 30 xs a day when i repeatedly told them I was dealing with very serious medical issues, they continued threatened me with criminal prosecution among other things. Celebrity Skin Cream wrinkle cream rip-off advertisements US Based and Foreign companies bilked consumers out of Hundreds of Millions of dollars over the past 7 years. Enter your credentials to view your account. This company has been calling me from more than 10 different phone numbers all hours of the day and night for a month. NEVER do business with Western Funding. Everything we publish is as accurate and as complete as we can make it. Who's crazy enough to start this website? When all is said and done, you'll owe anywhere from a few hundred to over a thousand dollars in charges, which you'll still be liable for whether you get your car out of repo or not. They should know we are making currents payments they call us every month 2 to 3 days before the car payment is even due! Los Angeles California, westlake financial service rip off Los Angeles Nationwide, Westlake Financial Services Angry, customer service stinks and so do your collection practices Los Angeles California, Westlake Financial DO NOT GET A LOAN FROM THIS COMPANY Los Angeles Nationwide, westlake financial horrible customer service, unreasonable Los Angeles Nationwide, Westlake Financial Horrible and predatory lender Los Angeles California, westlake financial services I'm constantly being lied too, i think they just want to repo your car. Millions can't pay their car loans. Here's what to do if you're one of If youve fallen behind on your car payments, chances are other bills are stacking up as well. Verified customer. We apologize for the negative experience you had with our company. Let it get repo'd? : r/personalfinance - Reddit This comment was posted by a verified customer. What can I do? Youll be out from under the monthly payments, and you can use the cash left over from the sale to get a cheaper vehicle. That means its representatives can't break into a locked garage, through a locked gate or otherwise use physical force against you or your property to take possession of your vehicle. Los Angeles California, Westlake Financial Services My car was repo for no reason stated that I broke contract. Chances are if you're worried about making your car payment, you have other bills keeping you up at night, too. All rights reserved. . That means it can't use or threaten to use force or violence. Titanium Program (750+) APR starting from 7.49%; borrow up to $50,000 Our debit card and money was in the vehicle when it was taken so we had to ask our elderly neighbor for a ride and wasnt able to get there until Monday the 6th because of an ice storm on Friday and then not being open on weekends. First off you need to get out of your fantasy that you are actually going to get approved for a Mortgage right noweven if the Reposession wasn't there. Now when i traded in my truck they also recoreded it as a cash down not as trade in. I guess we are all liars thencracking up at this non sense! 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. As a result, lenders are typically willing provide some help if youre going through a financial downturn. Your car was REPOSESSED, it doesn't matter if you were able to later reclaim it, it does not take away that the reposession occured. Robert made excellent points as he usually does. If you failed to pay that they would then have the legal right to file a suit against you in civil court. WebIf you need immediate assistance, it's always best to call our Customer Service at 800-967-8526. and protections against repossession passed by various states here, executive orders and laws is available here, the day after you miss even just one payment, argued that debt collection is an essential service. But just like the help available with rent payments and unemployment benefits, you do have to ask. Its unfortunate we couldnt fix it all in the past.. You wont know when this will happen, and actual repossession takes place sporadically. What the BBB has done to consumers for over 100 years is one of the many reasons why Ripoff Report was created. Often the lender won't even charge a late fee until the payment is at least 10 days late, and most won't report it to the three major credit bureaus until it's over 30 days late. I'm getting a Atty! We have called both places multiple times and just today the 8th Western funding told us its going to be an additional 24 to 48 hours. Most lenders' programs have been streamlined to be pretty simple to apply for. The complaint has been investigated and resolved to the customers satisfaction. 1 Conversely, if the item sells for more than your debt is worth, your lender is normally required to give you the surplus. Fast funding is possible within two days (or the same day in some cases). Few restrictions Westlake Financial doesnt set a limit on car age or mileage. However, it doesnt finance gray market cars (cars made outside the U.S. that dont adhere to U.S. safety standards), fire damaged cars, recycled cars, stripped cars, taxis or police cars. strict standards for business conduct. Here's a look at the most current information and resources we could locate to help you deal with your car payment. The auction price gives in general about 25-33% of the actual value of the car. Be proactive and ask and your lender may be able to help. Bike-sharing systems are becoming ubiquitous in larger cities. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. How is this even possible if we are making current payments and still in possession of the vehicle. Also, your credit has to be good enough for a bank to underwrite a new loan for you, which may or may not be the case anymore. Contact Westlake Financial today. Spend an hour cleaning up the truck a bit, Our pages feature links to our partners websites. Before making a decision, take some time to consider both the advantages and disadvantages of voluntary repossession. Copyright 1997-2023, Ripoff Report. That might involve another loan. I purchased a car in early January 2023. We apologize for the negative experience. I logged in on the 14th and made the payment online as I was feeling so sick from surgery. Since you are with Westlake without even seeing your credit, I can imagine you have things such as Charge-Off's or collection accounts,. The tactics, most of which were used between January 2010 and April 2014, violate the federal Fair Debt Collection Practice Act and the Truth in Lending Act, the bureau said. I have a loan on a truck through westlake financial. We place links on our website to our affiliates, and when you click those links, our affiliates compensate us for it. All rights reserved. However, someone who thinks they are at risk of repossession may opt to tell their lender and give back the car voluntarily. Types Of Repossession. YOU failed to pay YOUR bills on time. How those businesses take care of those complaints is what separates good businesses from the rest. Do you know who else doesnt want you defaulting? R. 8:57 pm EST. If you click on one of those links, we get paid. YOU failed(lied) to meet YOUR obligation and they exercised their legal right to reposess the vehicle. now i cannot even get through to their 24 hr number. sue Westlake financial for repoing my - Be real nice to them and see if they are willing to remove it. Victoria Scanlon However, it shouldnt hurt your credit score. Fill in your information and we will securely pull your TransUnion credit report. Heres a list of ways you might consider making some quick cash: Do you really need that car? *In Canada, trademark(s) of the International Association of Better Business Bureaus, used under License. https://www.ripoffreport.com/reports/westlake-financial/nationwide/westlake-financial-services-repossession-on-my-credit-report-and-i-am-in-possession-of-th-1184418. The payoff is too high to sell and get out from under it. Samuel Osbourne Los Angeles California. Search dealer inventory with a hassel-free car buying experience. Listen whoever you are I used your company because I never had built my credit I had pak everything cash so wanting to build my credit not having scores I made the simple mistake of using your company to do that! My mom passed away October the 11 2022 I want to keep the car an continue to make the payment they want me to refinance **** which is crazy there a awful loan company they to be shut down. Hes worked across a mixture of genres, including blogs, essays, and fiction. We do not support this type of customer service, and we are working very hard to make sure that everyone is helped effectively and within a timely manner. in Finance and Accounting and an MBA in Management. Westlake Financial and said he would work with me to resolve my problem .I"m very appreciate of Mr Anthony Gonzalez on how he handle my situation.and the way he work with me.and the way he conduct himself in a professional manner no like the gentleman I had talked to earlier..I"m back to work now and I can make my payments on a regular basis .Thanks to MR Anthony Gonzales I can keep my car and get it out from Repo Mode. degree in Political Science at Florida State University. You can also call your lender and inform them you can no longer make payments on your loan. 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. All rights reserved. The dealer immediately took action and kept the car and took it to the shop for us. If you get a two-month deferral, your loan term will extend by two months. We make money through advertising. It does not affect our evaluations of them, which our writers and editors create independently, without considering our relationships with our partners. If your bank doesn't have it set up that easy and you have no idea where to begin, the legal services websiteDoNotPay has a chatbot that can help you draft a letter to your lender. Learn more about how we make money. They were rude on the phone, repeatedly, and have poor morals and ethics running rampant in their business. If you buy through our links, we may get a commission. They are a sub-prime lender and want to make sure they get THEIR money. Illegal Debt Collection Tactics - Consumer Financial Protection Bureau You were repo'ed PLAIN AND SIMPLE. If your credit score is 700 or higher, consider refinancing. Why Ripoff Report will not release author information! Otherwise.wait 7years(well 6 years now). This is not legal advice and no attorney-client relationship is established. However, you wont be hit with the fees that hit those who have their cars involuntarily repossessed. If the repo is correct then it has a 100% right to be on your bureau reports. ), send it off to your lender and wait for an approval confirmation. Banks, Credit Unions & Savings Institutions, Credit Protection Laws: The Consumer Credit Protection Act, How to Lower Your Credit Card Interest Rate, Credit Cards for Millennials: Terms, How to Apply & Rewards Programs, Unable to Pay Credit Card Minimum Payment, Gray Charges Have Credit Card Customers Seeing Red, Hazards of Paying the Minimum Payment on Your Credit Card, Revolving Credit: What It Is & How It Works, Unconventional Ways of Building, Improving Your Credit History, Unable to Pay Credit Card Minimum Payment , https://www.consumerreports.org/car-financing/many-americans-overpay-for-car-loans-a8076436935/, https://www.washingtonpost.com/business/2019/02/12/record-million-americans-are-months-behind-their-car-payments-red-flag-economy/?noredirect=on&utm_term=.9ed74c490e2e, http://ceepr.mit.edu/files/papers/2018-005%20Authors%20Statement.pdf, https://www.consumer.ftc.gov/articles/0144-vehicle-repossession. If you've only had your car loan for a year or two, you might actually still owe more than it's worth. The payment was due on 11 February, which was a Saturday. Western Funding has reviewed the customers concerns as well as the account. repossessions stay on your credit report for seven years. How can I stop a repossession? At least we thought until we had our credit pulled due to wanting to buy a house and we find out westlake financial put the repossess on our credit! See a consumer credit or FDCPA attorney. Previous review Next review. If you are struggling to make a car payment, you have options. WebWestlake Financial Services My auto loan was paid off by my credit union in February 2014 for estimated $13,000+; Westlake Financial Services reported to the credit bureau that my car was repossessed for the amount of $13,000+ in December 2013. 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. Customer Reviews are not used in the calculation of BBB Rating. Refinancing could drop your credit scores slightly, but not as badly as missing payments or defaulting on the loan. Why is Frank McCourt really pushing this? How voluntary repossession works Voluntarily surrendering a car involves informing your lender that you can no longer make payments and intend to return it. But they would have then sold the car at auction. A Northwestern University graduate, he previously worked for the San Jose Mercury News, Newsday and the St. Petersburg Times. Our writers and editors follow strict editorial standards and operate independently from our advertisers and affiliates. I GET A LETTER demanding 2 months pmt. Her work covers credit repair and credit scores, and in the past she's extensively researched and written about the insurance industry. Look for an attorney who handles Fair Debt Collections Practices Act cases. Home equity loansare offered by banks,credit unionsand online lenders, at a fixed rate that, depending on your credit score, might beat the interest rate you currently pay on your car loan. With voluntary repossession, you agree on a time and place to return an item youve financed to your lender. Jesslyn has a B.S. FinanceJar partners with other companies in the credit and finance industry, such as credit card issuers and credit repair companies. If we knew it was gonna be a repossession do they think We would have continued to pay them! I have roughly 1100 in fixed expenses aside from the stupid truck, so in short i can't really reasonably afford it. You can do this instead of waiting for it to be towed from your home or workplace. I checked on Monday, the 13th and the site stated it had not been paid yet. 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. One way around this, however, is a deferment or forbearance program. Since that loan will be for the amount left on your loan rather than the original price of the car, your payments should be lower. Unlikemost other loans, when you do your taxes, you can claim the interest you pay on a home equity loan, just as you would on your mortgage. One week later, Westlake called me telling me my pmt was late. Western Funding **** values its customers and takes each complaint seriously as an opportunity to assist and service customers more effectively. Westlake is more than just an indirect auto lender. Call (888) 859-0871 now. You may be tempted to hide your car from your creditors to avoid this. BBB Business Profiles generally cover a three-year reporting period. He has a prodigious appetite for reading, which he helps feed with writing from Scottish philosopher Adam Smith, the Father of Capitalism. Bents writing also has been published by JPMorgan Chase, TheSimpleDollar and Interest.com. If you leave your vehicle in repo, either because you can't afford to get it out or you just decide it's not worth it, you're still not completely off the hook. The best option, of course, is to sell it, especially if the car is worth more than you owe on your loan. So, if you only used $10,000 out of the $32,000 you had available, then you only will pay interest on that $10,000. They totally lied to us then screwed us just to get our money! However, if you have a repo of any sort on your credit report, most lenders will still probably view you as a higher-risk borrower and may be reluctant to offer you a loan. Additional Services Don't just sit back and wait until the bank repos your car. The bureau ordered the companies to pay $4.25 million in fines and to give $44.1 million back to borrowers in a combination of cash refunds and debt forgiveness. MyAccount Login - Westlake Financial Voluntary repossession exists in contrast to involuntary repossession, where your lender dispatches someone to seize your property because youve stopped making payments on your loan. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. and We strive to help dealers in all aspects of their business reach their goals and achieve success. You have no intelligent rebuttal to his responsenone at all! 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. They didn't. You may be able to hire an attorney with no money.
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