Patients made into prostitutes and sex slaves, bilking insurance companies out of millions, Sac_County Iowa Prosecutor Ben Smith pays $750,000 to settle Ripoff Report 1983 civil rights lawsuit.. Federal Judge stops prosecutors abuse of power against ED Magedson Founder of Ripoff Report. Uniteds new CEO acknowledges airlines failures, Workers allege 80-hour weeks with no overtime at UC Berkeley sporting events, Volkswagen, Audi sales increase over last year despite emissions cheating scandal. BBB Business Profiles generally cover a three-year reporting period. Its the typical deadbeat immature response of "you must work for them". However, as most US cities are far along in the process of reopening and orders shuttering nonessential businesses have mostly been lifted, you can probably bet that repo companies will be up and running as soon as they can be. They do not provide me with the original application like I asked. 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. This company has been calling me from more than 10 different phone numbers all hours of the day and night for a month. Los Angeles California, Westlake Financial Trying to refinance the vehicle and Westlake refuses to provide me the information needed El Monte ca California, Westlake Financial PO Box Payment taken after requested to stop auto draft due to insurance payoff now cant get the funds returned Los Angeles California, Westlake Financial Services/Owner Report false information Los Angeles California, Westlake Financial Services (WFS) Failure to provide Release of Lien Marble Falls TX, Westlake financial Recieve a dozen if not more calls a day from several different numbers all from wesltlake finacial. The repo company will then charge your bank for towing the vehicle, as well as a daily storage fee, usually around $25 to $75 per day. You would have most likely lost and then not only now have a judgement on your credit report but subject to other things such as possible wage garnishment or having them attach your bank account. 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. Should the customer have additional questions or concerns, he or she may reach Westlake directly at the contact information provided in the written response. If you've only had your car loan for a year or two, you might actually still owe more than it's worth. Westlake Financial repossess my vehicle after being 31 days late on a payment and told me if you pay your payment and late fees and a fee for it being repossessed you can get your vehicle back and everything will be fine! You wont know when this will happen, and actual repossession takes place sporadically. READ: Foreign websites steal our content, Click Here to read other Ripoff Reports on Westlake Financial. Dale Smith is a former Associate Writer on the How-To team at CNET. We strive to help dealers in all aspects of their business reach their goals and achieve success. Learn more about how we make money. Number 1 - YOUR money? Specialists available Monday to Friday, 10AM - 8PM EST. Harsh..yes but it is reality. That means it can't use or threaten to use force or violence. If they cant sell it for enough to pay off the loan, you still owe the difference, plus any late fees you incurred. BBB is here to help. In retrospect, Im glad we put in place the things we have, he said. Just so you know it will not stay on my credit for seven years because I will fight it with the credit report agency as well as posting on every website out there what a horrible company you are! They sold the car to auction for $2500. No one is able to explain to me why. The auction price gives in general about 25-33% of the actual value of the car. In most cases, your lender will contract with a third-party agency that specializes in repossessions. Copyright 1997-2023, Ripoff Report. Involuntary repossession means the lender seizes your vehicle because you are behind on your car payments. How long does negative information remain on my credit report? If you fall behind on your home equity loan payments, the bank has the right to foreclose on your home. They were rude on the phone, repeatedly, and have poor morals and ethics running rampant in their business. Los Angeles California, Westlake Financial Auto Loan/Finance RipOff Buyer Beware Read Carefully Los Angeles California, Westlake financial This company is heartless to their lienholders Los Angeles California, westlake financial repossesion with out notification vehicle payments made for 56 months repoed wit 3 payments remaining puyalluip wa puyallup wa, Westlake financial services Westlake Los Angeles California, Crown auto and fleet services Howard Kleinberg Bought my loan from Westlake financial now trying to repo my truck. After that, your lender may sell it privately or at a public auction to cover your debt. Calling to ask is about all you can do but be prepared for a negative response. Consumers want to see how a business took care of business. - Be real nice to them and see if they are willing to remove it. Taking the time to explore your options for eliminating debt now will save you a lot of money down the road. I want this removed off my credit. 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! Here is the thing your credit report shows your HISTORY. As a matter of policy, BBB does not endorse any product, service or business. I've spoken with the bank, and with my credit and the disparity between the payoff and vehicle value, I'm at the end of the road. The issue ended up taking about six weeks to repair as they had to wait for parts. By extending the term of the loan for instance, if you had 24 months left on your original loan and you extended that to 36 months your monthly payments will be lower. Resolved. But these arent the only options. However, we may receive compensation when you click on links to products or services offered by our partners. Consumers educating consumers., Complaints Reviews Scams Lawsuits Frauds Reported.. So getting the car back was actually the smartest thing you could have done if you truly cared about your credit. If you quit paying your car payment, eventually a vehicle recovery service will come tow your car. Everything we publish is as accurate and as complete as we can make it. 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. Our writers do not take FinanceJars relationship with its affiliates into consideration when writing their reviews and articles. A Northwestern University graduate, he previously worked for the San Jose Mercury News, Newsday and the St. Petersburg Times. Submit a complaint and get your issue resolved. Estimated amount consumers saved since 1997: $15,590,010,907. *In Canada, trademark(s) of the International Association of Better Business Bureaus, used under License. BBB Business Profiles may not be reproduced for sales or promotional purposes. Horrible customer service is all you get! Who's crazy enough to start this website? As an alternative to car repossession, you can try negotiating with your lender for a more manageable repayment plan. You may occasionally receive promotional content from the Los Angeles Times. You were repo'ed PLAIN AND SIMPLE. Say we owe over $22,000.00 for the rest of their so called contract !!!!!! BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB Business Profiles are subject to change at any time. I let the dealer know. Financial hardship assistance is an umbrella term for options like refinancing, forbearance and deferral. The dealer immediately took action and kept the car and took it to the shop for us. Tax deductible. (If you don't see your lender on any of those lists, try contacting the company directly through its website or app.). . Don't sound like a repossession to me! We'll continue to update this story as new details emerge. Thank you for bringing this matter to our attention. 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. Felton, R. (2021, October 27) Many Americans Are Overpaying for Their Car Loans. WebWestlake Financial Auto Loan. 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. If you don't like that, then YOU should have realized the end result prior to YOU deciding to not pay YOUR bills on time. WebQuestions? He has worked in the nations capital since 1998 and is a two-time National Press Club award winner for Washington coverage. 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. 1 attorney answer. 2023 ONR Financial Networks LLC All Rights Reserved. This is absurd! What are the consequences of Westlake repossessing your car? You wont know when this will happen, and actual repossession takes place sporadically. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. I have a loan on a truck through westlake financial. 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. Westlake has a portfolio of more than $2.5 billion in loans, many of them charging interest rates of more than 20% a year. Voluntary repossession You should consider turning your car over to your lender as your absolute last resort. We hope this template helps you achieve your goals. I did. The interest will keep accruing while your payments are being deferred, so youll pay more before the loan ends. (In this context, financing refers to taking out a loan to buy a piece of property and using that property to secure the loan.). strict standards for business conduct. On October 4th I called into Western Funding regarding my monthly payment on my account which was due, I asked the representative if it was possible to get an extension on the payment or a payment deferment as I was experiencing a reduction in work hours and was short on money to make the payment, I was approved for the payment deferment and told my next payment would be due on November 2nd which I again informed the representative that I would be working on getting all the funds together.I called Western Funding again in the beginning of November and gave them an update that my situation was still not resolved however I did make a $100 dollar payment towards the balance, I made another call on November 26th to inform Western Funding that I had returned to normal hours work and wanted to set up a payment for the balance for December 9th I was told I was not allowed to set up a payment for that date and was transferred to the collections department.The person in the collections department began lecturing me on how I had a balance and started claiming that I made arrangements for the 19th which wasn't true then informed me to remove my valuables out of the vehicle since I couldn't pay today that my vehicle was going on the repo list and I asked to speak to a supervisor or someone higher than the representative in corporate and was told with an attitude they don't want to speak with you however you can write them a letter if you desire.I am very disappointed with the disrespectful service I received from Western Funding and the threats to take my vehicle that were made due to me losing hours at work and then trying to make a payment but them refusing to accept my payment that I wanted to make. Westlake financial Harassment California, Westlake financial servicesHelp with Westlake financial services Oct. 2 2018. And best of all, their advice and budgeting help is FREE! They should know we are making currents payments they call us every month 2 to 3 days before the car payment is even due! Because unsecured loans dont have collateral, lenders cant repossess your property (either voluntarily or involuntarily) if you default on them, although lenders of unsecured loans can still sometimes claim your property if they sue you for nonpayment and the court enters a judgment against you. In practice, however, most lenders are willing to give your car back if you can at least catch up with your late payments (and, of course, even up with the repo company as well). Samuel Osbourne He hit the nail squarely on the head over and over. Join our mailing list for monthly tips on ways to manage your finances! And Westlake is just one of seven firms 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. the one from June, AND the one for JULY. This review was chosen algorithmically as the most valued customer feedback. Its unfortunate we couldnt fix it all in the past.. Drug Rehab Deception Addiction Treatment Industry Rocked By Fraud & Abuse. Voluntary repossession has three key advantages: There are also a couple of downsides to voluntarily surrendering your vehicle or another item (on top of the obvious downside that youll lose your property): To make a fully informed decision, you need to know what your other options are. WebWhether you are a dealer or a loan customer, Westlake has the resources to help you. See details. Do you have any electronics you barely use? What can I do? You can view a list of every state's specific automobile repossession laws here, but generally speaking, your lending institution (or a company it hires) has the right to come onto your property and take the car so long as no one commits a "breach of the peace.". Its illegal fraud, to be more precise and the harder you make the repo man work, the more he charges the bank, costs that will be passed on to you. Both firms specialize in loans to borrowers with bad credit. Repossessions are considered derogatory marks on your credit report, which means that they can seriously damage your credit. To ensure that our articles and reviews are objective and unbiased, our writers and editors operate independently from our advertisers and affiliates. Ian Anderson, president of Westlake Financial, said it was never company policy for debt collectors to threaten borrowers or to use Skip Tracy to disguise calls as coming from another business. However, in the wake of the recent economic turmoil brought on by the coronavirus pandemic, most lenders have streamlined their financial hardship programs and are willing to be a bit forgiving if you just ask for help. But they would have then sold the car at auction. As more and more people experience financial insecurity as a result of the coronavirus pandemic, banks and other lenders are offering programs to defer car payments. 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. Voluntary repossessions stay on your credit report up to seven years. I took my paperwork to the Toyota dealership, he said they'd already sent Westlake a car. It does not need your car keys to take your car. File a complaint to Westlake Financial Services, Westlake Financial Services - Car finance company fraud, Westlake Financial Services - Fraudulent company, Westlake Financial Services - Overcharges, Westlake Financial Services - Unsolicited phone calls, Westlake Financial Services - Automobile loan, Westlake Financial Services - They stole 14,000 from me, Westlake Financial Services - Harassing and rude, Westlake Financial Services - Rude service, Westlake Financial Services reviews & complaints. If youre able to get a lower interest rate, the total cost will still probably increase, though not as much. That company will use whatever information it can get -- your home and work addresses, for example -- to track down the vehicle and tow it to a secured, usually gated lot. Westlake Financial Services and subsidiary Wilshire Consumer Credit, both part of Hankeys Mid-Wilshire conglomerate Hankey Group, also falsely threatened to file criminal charges against borrowers; contacted employers, family and friends without required permission; and changed the terms of loans without informing customers, the bureau said. Voluntary repossession is an alternative to involuntary repossession that gives you some control over how your lender takes back ownership of a secured asset such as a vehicle. As a result, lenders are typically willing provide some help if youre going through a financial downturn. The Economics of Ride Hailing, Revisited, Retrieved from, N.A. This comment was posted by a verified customer. Why Ripoff Report will not release author information! Chris Kukla, a senior vice president at the Center for Responsible Lending, said hardball tactics are a common feature of many collectors handling borrowers with bad credit. WebIf you need immediate assistance, it's always best to call our Customer Service at 800-967-8526. Take the bus. The repo company will then charge your bank for towing the vehicle, as well as a daily storage fee, usually around $25 to $75 per day. In most states, a lender, like your bank, can start the repossession process the day after you miss even just one payment, but most companies give their customers a grace period. This isn't right when I have the vehicle, make payments on it and drive it everyday! Before making a decision, take some time to consider both the advantages and disadvantages of voluntary repossession. Western Funding **** values its customers and takes each complaint seriously as an opportunity to assist and service customers more effectively. They didn't. ), send it off to your lender and wait for an approval confirmation. 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. Bike-sharing systems are becoming ubiquitous in larger cities. ComplaintsBoard.com is a leading complaint resolution website on the Internet. Using the same example as above, the limit would be $32,000. Youll still need a way to get around. Our relationships with our affiliates may affect which products we feature on our site and where these products appear in our articles. Share your photos and videos with others to prove the truth of your words. 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. YOU failed to pay YOUR bills on time. 2023 CNET, a Red Ventures company. They did not provide me with the original application like I asked. 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. Bents has experience with student loans, affordable housing, budgeting to include an auto loan and other personal finance matters that greet all Millennials when they graduate. You think you know so much! https://www.ripoffreport.com/reports/westlake-financial/nationwide/westlake-financial-services-repossession-on-my-credit-report-and-i-am-in-possession-of-th-1184418. Los Angeles California, Westlake Financal The number is a scam and as far as I can tell we're going to get screwed Taylorville Illinois, Westlake Financial Harrasment, No Customer Service Los Angeles California, Auto Net RonyBut Everyone its involved Selling STOLEN PropertyWith Westlake Financial pomona California, Westlake Financial Harassment and Unfair Treatment Miami Florida, Westlake Financial Services Repossessed Vehicle with Payment only 18 days late Los Angeles California, Westlake Financial Services Repossession r car Los Angeles California, Wilshire Consumer Credit dba Westlake Financial Loanshark Behavior - Title Loan - Repossessed Car When No Money Due! R. 8:57 pm EST. The consequences of Thank you for bringing this matter to our attention. If four wheels are something you feel you cannot do without, consider a used car. You need to change your entire attitude. International Association of Better Business Bureaus. They totally lied to us then screwed us just to get our money! Tell us has your experience with this business or person been good? 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. The practice was used to place calls related to 137,000 loan accounts, the bureau said. Retrieved from, Zoepf, S. (2018, March 5). The new lender pays off the old loan and takes over the cars title, until youve paid it off. Find a willing trader and fill out the paperwork. 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. Los Angeles CA, Westlake Financial Co Still sent out an order to repossess vehicle. This may affect the products and services that we showcase in our articles and how we place and order them. 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. How those businesses take care of those complaints is what separates good businesses from the rest. and Bents Dulcio writes with a humble, field-level view on personal finance. This method isnt as beneficial if you have bad credit because you wont qualify for better rates. WebWestlake Financial now lets you access your FICO Credit Score for FREE! They totally lied to us then screwed us just to get our money! They can, however, follow you to work, for example, or the grocery store, and wait until you leave your car unattended. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. 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. You have no intelligent rebuttal to his responsenone at all! He joined The Times in 2006 and won the papers Editors Award in 2009 for coverage of the financial crisis. WebVoluntary repossessions stay on your credit report up to seven years. However, I see where we are going with this. If you've skipped a car payment or two recently -- or you worry you might have to miss an upcoming one -- you're not alone. WebWestlake is more than just an indirect auto lender. Voluntary repossession is when you willingly return your car (or another piece of property youve financed) to your lender. Repackaged from Purchased from Amazon, stealing all certifications and false manufacturing markers from the packaging of NB food supplements. See a consumer credit or FDCPA attorney. You will only be responsible for repaying the interest of the amount you used. They Obligated me to pay $6597.00 for a car I don't have. However, you wont be hit with the fees that hit those who have their cars involuntarily repossessed. Who is ED Magedson - Founder, Ripoff Report. Refinancing is not an option. A voluntary repossession allows you to hand your car back to your lender on your own timeline. 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. 1 Conversely, if the item sells for more than your debt is worth, your lender is normally required to give you the surplus. So before you sit here and say I have bad credit for different reasons know your facts! How do I get the repossession off our credit? Want CNET to notify you of price drops and the latest stories? Note that complaint text that is displayed might not represent all complaints filed with BBB. He was rude, telling me I owed the pmt regardless. Westlake Services, LLC is an indirect auto finance company based in Los Angeles that specializes in purchasing and servicing auto loans, including many subprime Read more reports about Westlake Financial. By signing up, you will receive newsletters and promotional content and agree to our. Corporate Advocacy Business Remediation and Customer Satisfaction Program. 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. 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! and 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. Truck was repod on the 6th of November owing 242.00 no other past due payments truck was on a 20 day impound on the 20th day I went to pay the 382 or something like that to get my truck out of impound wen I did I was informed u guys had picked it up wen I called u guys u said u had repod my vehicle becuz it was in impound but the thing is u didnt have to go get the truck I was going to the very next day wen I was allowed to the truck was not left there I had been in contact with the tow yard several times while it was there they were fully aware that I was going to go get the truck at the rnd of the 20 days wen in the 6 th of November u guys repod then wen I called asking questions the guy I was talking to was very rude and impair isnt u have the recording as well as I do I was simply trying to understand wat happening n why I was more then willing to pay the tow yard fees and the 242 dollars I still owed on my monthly bill I have had a total of I think 19 payments with u guys with the exception of one payment late I think I might be wrong I might have paid it with in the grace period and I read ur policy saying that u guys were allowing us to skip a payment or more and put them twards the end of the loan but ur guys were rude I asked for a manager n he was even wors then the first guy he got loud with me becuz I asked him wat exactly it was that was paid to the tow yard n becuz he had already gave me a long list of charges and fees I had to now pay due to the repo I was unsure of wat was paid to them he demanded I get a pencil cuz he had already told me these things so now I needed tow right them down he kept getting upset wen I would ask any questions n wen I said Im sorry sir but I am not pay 1600 dollars today theres no way specially wen I feel like the truck shouldnt of been repos in the first place had u left it where it was Id have it today but becuz u went one day before I could Im stuck with 1100 more then I should be and wen I asked for help cuz I can only pay maybe half that today Im treated like Im on the street corner begging for change almost like u dnt want my biz any more like us rather take my truck then keep me as a costumer Im so confused and dumb founded n not knowing wat Im going to do now becuz thats the familys o ly means of transportation with two kids I.