I financed a car thru Consumer Portfolio Services Inc. back in March 2014 and from the beginning of making payments they made it very difficult to do. They would not accept credit card payments and they would debit your bank account whenever they were ready to do so. After finding a solution to making payments, many phone calls it end up costing an extra $12.00-$15.00 per month to send payments western union or moneygram servce.
I received very threatening phone calls to both my work and home phones with rude and uprupt customer service representatives any time of day. I had a problem with my license and was unable to obtain insurance so in order to keep the car from being repo'd I put the car in a monthly parking garage. THe parking garage payment got behind due to my finances becoming a problem and they contacted Consumer Portfolio when it was all said and done they picked up my car and never informed me until a month later and advised that the car was going to be auctioned off.
I tried to come up with the money but the amount requested was almost the value of the car. The car is in another state therefore I had to find a way to retrieve it. Now I receive a letter from them stating that this is going to be on my credit report. I would like to find a way to settle this with them and not have it on my credit report and not have them service amy loans to the New York City area without the consumer being aware of the many issues this company has.
This company allows you to purchase a car priced well over the current value of the car. I believe that there is a scandal between CPS and the car lot where I purchased my car. I was told that I was financed and given a resonable down payment. I was then allowed to leave with the vehicle. A couple of days later I received a call that my down payment had increased and the payments were sky high. I have paid perfectly on the car and after two full years I still owe more than what the car was sold for. MY payments were a whopping $613 per month. I tried to refinance after a year and everyone everywhere I went wouldn't touch it because I owed twice what it was worth. As a result I am stuck so I am being forced to file bankruptcy.
In 2012 I went into dealership and was talked into trading my car and leaving that day with an upgraded car. The cost was 14,385.30. I knew the cost was high because the value of the bluebook was only 10,000. I went into the contract believeing that all money paid to it would deduct from the balance. Apparently that isn;t so. I have paid 10,761.20 since 5/29/12 it is now 2015 and I went from 14,385.30 to a current balance of 11,801.39 a difference of 2583.91. So out of the 10 thousand that I paid to them only 2583.00 went towards the balance. 3 YEARS!!!!!!!!. WHEN I CALLED TO QUESTION ABOUT THE BALANCES NOT CHANGING WITH MY PAYMENT. i WAS TOLD MY PAYMENTS WERE INTEREST ONLY PAYMENTS!. wHO DOES BUSINESS LIKE THIS? Now the car was hit and totaled in an accident. Insurance is only going to pay the value. which is below the 11,000 amount they still have me for. So I will not be surprised if they harass me for the balance after insurance pay off. This just doesnt seem fair. I was not informed that none of my payments counted towords the balance and I feel totally scammed. and now no car and still owe money.
During the first two years with Consumer Portfolio Services my payments have been on time but due to recent setbacks my payments have been on time or within 30 days. Since that time they started calling my phone daily up to 8 times a day but only leaving a message one time. They are doing that so that wont get accused of harrassment. They are calling my work and calling my personal references looking for me. I was getting pissed at this company. They are very rude on the phone. They even threatened to come take my car if I didnt make a payment. I wasnt even 30 days late.
I have lately had the unfortunate luck of having to do a few deferred payment arrangements because of recent hardships with having to pay child support. I checked my credit report and saw some errors on my report stating that I was 30 days late 3 months in a row and saying that I paid $700 to get caught back up when I never did. Now I have a a year left to pay and they are saying that I owe $1700 more than what my payoff is. My last statement said my payoff was $6300 and when I called them about a recent attempt for a deferred payment they said my payoff was $6600. How could it go up in less than a month? I told the lady on the phone that you cannot add money to my balance which it seems they are doing.
Also since around May I started having car troubles. I'm really starting to wonder if somehow they have remotely accessed my car's computer and doing something to make my car start messing up. I have 2007 Chevy Impala and really wasnt having any problems with the car. Just a thought and maybe it's just the car....but you know know who is watching you. Bottom line people is that this is the worst car loan company that I have dealt with. My credit has been for crap now and cannot get a loan because of this company plus with the high payoff I will get screwed again if i tried to get another loan.
I would like to know if there is anything I can go about this company? Are there any pending class action lawsuits against this company that I can be a part of?
Consumer Portfolio Services, Inc. Reviews
I financed a car thru Consumer Portfolio Services Inc. back in March 2014 and from the beginning of making payments they made it very difficult to do. They would not accept credit card payments and they would debit your bank account whenever they were ready to do so. After finding a solution to making payments, many phone calls it end up costing an extra $12.00-$15.00 per month to send payments western union or moneygram servce.
I received very threatening phone calls to both my work and home phones with rude and uprupt customer service representatives any time of day. I had a problem with my license and was unable to obtain insurance so in order to keep the car from being repo'd I put the car in a monthly parking garage. THe parking garage payment got behind due to my finances becoming a problem and they contacted Consumer Portfolio when it was all said and done they picked up my car and never informed me until a month later and advised that the car was going to be auctioned off.
I tried to come up with the money but the amount requested was almost the value of the car. The car is in another state therefore I had to find a way to retrieve it. Now I receive a letter from them stating that this is going to be on my credit report. I would like to find a way to settle this with them and not have it on my credit report and not have them service amy loans to the New York City area without the consumer being aware of the many issues this company has.
This company allows you to purchase a car priced well over the current value of the car. I believe that there is a scandal between CPS and the car lot where I purchased my car. I was told that I was financed and given a resonable down payment. I was then allowed to leave with the vehicle. A couple of days later I received a call that my down payment had increased and the payments were sky high. I have paid perfectly on the car and after two full years I still owe more than what the car was sold for. MY payments were a whopping $613 per month. I tried to refinance after a year and everyone everywhere I went wouldn't touch it because I owed twice what it was worth. As a result I am stuck so I am being forced to file bankruptcy.
In 2012 I went into dealership and was talked into trading my car and leaving that day with an upgraded car. The cost was 14,385.30. I knew the cost was high because the value of the bluebook was only 10,000. I went into the contract believeing that all money paid to it would deduct from the balance. Apparently that isn;t so. I have paid 10,761.20 since 5/29/12 it is now 2015 and I went from 14,385.30 to a current balance of 11,801.39 a difference of 2583.91. So out of the 10 thousand that I paid to them only 2583.00 went towards the balance. 3 YEARS!!!!!!!!. WHEN I CALLED TO QUESTION ABOUT THE BALANCES NOT CHANGING WITH MY PAYMENT. i WAS TOLD MY PAYMENTS WERE INTEREST ONLY PAYMENTS!. wHO DOES BUSINESS LIKE THIS? Now the car was hit and totaled in an accident. Insurance is only going to pay the value. which is below the 11,000 amount they still have me for. So I will not be surprised if they harass me for the balance after insurance pay off. This just doesnt seem fair. I was not informed that none of my payments counted towords the balance and I feel totally scammed. and now no car and still owe money.
During the first two years with Consumer Portfolio Services my payments have been on time but due to recent setbacks my payments have been on time or within 30 days. Since that time they started calling my phone daily up to 8 times a day but only leaving a message one time. They are doing that so that wont get accused of harrassment. They are calling my work and calling my personal references looking for me. I was getting pissed at this company. They are very rude on the phone. They even threatened to come take my car if I didnt make a payment. I wasnt even 30 days late.
I have lately had the unfortunate luck of having to do a few deferred payment arrangements because of recent hardships with having to pay child support. I checked my credit report and saw some errors on my report stating that I was 30 days late 3 months in a row and saying that I paid $700 to get caught back up when I never did. Now I have a a year left to pay and they are saying that I owe $1700 more than what my payoff is. My last statement said my payoff was $6300 and when I called them about a recent attempt for a deferred payment they said my payoff was $6600. How could it go up in less than a month? I told the lady on the phone that you cannot add money to my balance which it seems they are doing.
Also since around May I started having car troubles. I'm really starting to wonder if somehow they have remotely accessed my car's computer and doing something to make my car start messing up. I have 2007 Chevy Impala and really wasnt having any problems with the car. Just a thought and maybe it's just the car....but you know know who is watching you. Bottom line people is that this is the worst car loan company that I have dealt with. My credit has been for crap now and cannot get a loan because of this company plus with the high payoff I will get screwed again if i tried to get another loan.
I would like to know if there is anything I can go about this company? Are there any pending class action lawsuits against this company that I can be a part of?