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Consumer Portfolio Services financed a vehicle for me back in 2005 while I was in the military. The vehicle was a Dodge Stratus and the amount financed was $12,500 with an extremely high interest rate. I paid on the car for two years paying $330 a month. When I was leaving the military I called CPS and told them I was paying three months ahead on the principal because I was getting out of the military and was making sure the payment didn’t get behind. I got out of the military in July of 2007. I received a call in August saying I was late on my payment. I told them I had paid three months ahead and they told me that money went towards the interest and not the principal balance.
After arguing back in forth with them for a month I got tired of being harassed and threatened so I told them to come get the vehicle. Three months later they finally had the vehicle picked up. Didn’t hear anything from them until July 2008 when they called saying I still owed them $5500. They didn’t send me written notification or call saying the vehicle was being sold as stated in our contract nor did they send a copy of the bill of sale. They told me the car sold for $7500 so I was under the impression they was going to send me the overpayment of the principal loan since that was the contract agreement. They received $15,500 total. Here it is 2022 and they still haven’t honored their contract and I’m still being harassed.
I had a 2017 Kia Forte that I financed through Credit Acceptance. I only had it roughly a year and I realized it was too small so I wanted to upgrade to an SUV because I have teen boys and every time we drove somewhere it was a tight squeeze for them. I made all my payments on time or early for a year, did not need a co-signer or a cash down payment since I traded in another vehicle (when I bought the Kia). In January of this year (2022), I went back to the same dealer to get a SUV. I fill out credit app and even though my income and credit was basically the same, the only place that would finance was Consumer Portfolio Services with a co-signer. I’m like omg after they paid off the rest of my auto loan that I currently had. The dealer said I had 5k to put towards another car so why the heck do I need a co-signer. Long story short, my ex co-signed for me. This is where CPS starts to bug me.
I take the new car home and every day for about two weeks my ex keeps getting letters and bills from CPS. He is not paying or driving the car and was annoyed at getting letters from them so I call and say why is he getting bills and letters as a co-signer? He does not drive the car, have the car, and isn’t even listed on the title. He is only supposed to be bothered if I default on the loan which I haven’t. I’ve only had the car a week. So she switches it to where I only get mail and calls and not him. Ok great. My payment was due on Feb 27. I made it on Feb 28. I did call and tell them it’s easier for me to pay on the first of the month and they said after the first payment, I could change future due dates. So ever since I have changed the address from his to mine, I have 2-3 letters and or bills from them a week. It says they are a debt collection agency.
I find it odd that a finance company would have correspondence saying they are are a collection agency on it. I am not in default. They send 2 bills a week for payments that aren’t due. My phone rings all day to where I had to start blocking numbers I don't recognize. Ever since I’ve taken this loan out, I’ve been getting harassing calls from some place saying they have court documents to file against me and they will show up at my both my work and home to serve them to me if I don’t answer their calls. I don’t owe anybody anything! I even contacted the local court to see if I have any cases against me for anything and there is nothing. I just feel so stupid getting a loan from here.
This is a nightmare and I should have just kept the car I had. Also my car payment went up 200.00. Why would my payment be more for a car with more miles and three years older than the car I had previously??? I don’t trust this place at all. I really want to see if I can go back to Credit Acceptance. I never heard one peep from them the whole time I had my loan there.
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Right after a chapter 7 discharge CPS financed me, no problem. Of course if you miss a payment without notifying them ahead of time the will call.. I learned quickly that with this company "communication IS key" as long as I kept in contact and told them what was going on they did care when I made my payments... They may have been reporting late payments but at least I wasn't being harassed.. And the 2 customer service reps, a guy and a woman out of New York I believe, we're super nice and super helpful every single phone call... Thank you guys so much!! Y'all helped me A LOT.
Fell behind one payment after I purchased the car due to a life and death experience literally! Car was repossessed and was trying to reinstate loan based on my circumstances and they was so rude, thoughtless and inconsiderate and wouldn’t allow me to go forth and pay balances!
I bought a 2017 Honda Civic Sport which I love, the payments are high but my credit at the time was awful. They've reported my perfect payment history and have let me defer when I needed to. I wouldn't have my car or improved credit without CPS.
Got everything I needed to know from website. Very detailed and accurate. I'm very satisfied with the information I received. Well worth a $1 I spent. Would definitely recommend it to anyone. All the information on my car was accurate and very detailed and it's helpful for anyone that needs to get a pack ground on a vehicle.
I informed CPS that I could not afford the 2018 Hyundai Elantra that I bought November 2017. The car notes are not behind but I just cannot afford the car plus the pandemic has not made it easy for anyone. I was told I have to be eligible for a voluntary surrender (Eligible?). What CPS does is wait until the car defaults then repossesses your vehicle, which is kind of illegal, especially if you have already notified them of your issue. So, I decided to obtain a lawyer, just to see if they default me so that a class action lawsuit can be filed. I will keep you guys posted.
I purchased a 2013 Honda Accord in July of 2013 for a 72 month term. I did have a few extensions. My loan originally should have been paid 7/19. They pushed it back to 7/20 and when I made my last payment it was changed to 8/20. My car was repossessed last Friday 11/20 because I refused to pay them another dime.
This company is about as unethical and dishonest as they come. My loan is 100% paid in full and they plummeted my credit rating by over 51 points when all principal and interest had been paid in full. Not a single payment had been missed in over 2 years -- despite the death of my son and Covid19 contract losses. They reported to all 3 Credit Reporting agencies that the account was "closed" when it was not with the notation "Paid as Agreed" rather than that it had been paid in full which should have raised my credit rating rather than send it into a free fall.
CPS finds every dirty way to exploit customers and I wish the Attorney General of California would investigate them for their business practices. AVOID signing on the dotted line with them. A 6-year loan took 8-years to pay off because of their unethical business practices of hidden fees (late fees, fees for them processing a payment, fees for extending during hardships, etc.). All excessive fees have also been paid on this account as well. There ought to be a law against such unethical and dishonest contract writing. Now, if only they would send me the title on my vehicle ... AVOID THIS LOAN COMPANY UNLESS YOU HAVE NO OTHER CHOICE!
This is the worse company ever, there was a mistake by the dealer on the 1st payment of the car and ever since then even though the account is up to date, it gets paid on time..they harass me calling 3 + times a day calling like if the account was delinquent when is up to date..payments get done on time...there's no need to harass if the payment isn't due or delinquent... I told them not to be calling and they just don't care, they ran my credit again without permission bringing it down 10 points every time they do it..what for? This company has to be shut down for good...
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