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Monterey Financial Services

Monterey Financial Services
Overall Satisfaction Rating 1.19/5
  • 5 stars
    3
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    2
  • 3 stars
    1
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    5
  • 1 stars
    124
Based on 135 ratings

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    Monterey Financial Services Reviews

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    Page 1 Reviews 0 - 10
    Rated with 1 star
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    Verified Reviewer Verified Buyer
    Original review: Sept. 18, 2020

    I have a similar problem to others who have posted their customer service experienceS with Monterey Financial. I called on my husband's behalf to pay his bill for items purchased through a CREDOVA application that was less than 60 days after the items were purchased. The debt was bought out by Monterey Financial. My husband was told that financing with them would not “affect his credit score”. It states this on the website. He is 100% disabled with Soc Sec and 100% disabled Veteran. First of all this is unclear and misleading advertising. He did not comprehend what he was signing due to his disabilities. He financed the items to be paid out of my bank account. I knew nothing about this. Then it shows up on his credit report, hit three times and dropped his score by 100 points! We’re in the process of getting a mortgage! Then they falsely report a delinquent account.

    I called right away when I found out he had been duped and taken advantage of. I was trying to pay off the account. We were told he financed about $1500 and would make payments on the items each month. They told me he signed a “lease agreement” and didn’t even own the items. He was told he’d only pay them the remainder for its original price, $1500. Well, when I called them to pay it I spoke with a rep who tells me that to settle the account for 75% of what is owed I have to pay them $2700 dollars. I told the rep this is not what my husband was told and she proceeded to inform me that it was in the contract signed. This was supposed to be financed not a lease agreement.

    I explained that I am not going to pay that astronomical amount and we are on a fixed DISABILITY income. The rep on the phone says, "Well you have to pay that amount but it goes down each time you make a payment but the fact remains you owe about $3500 in total but we will settle the account for $2700 today only." After that we are stuck paying $3500. The rep then goes on to threaten to send it to collections and take legal action against us! I told them we don’t have it in our budget to pay off $3500. I hoped they would be somewhat understanding and empathetic but they were nothing but rude, mean and nasty. Very disappointed.

    Sincerely, Taken Advantage Of.

    4 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: Aug. 7, 2020

    Well, I decided to purchase a gun. I found a site that would let me finance and it was "good old Credova". Cool I thought. When I applied it said, "You have a loan, pay it off first." I said "cool" so I searched my email to get my account info, and I thought I'd review my contract because it was strange I had to pay it off before I could get another one. I've been paying steady and I figured I'd be done with my loan in a few months. WELL, I looked at the contract and saw, OMG, I'm paying more than double for this gun. I thought I'd agreed to a 12 month LOAN, not a lease. This isn't something I'd actually sign up for. The gun was 1400, my total LEASE payments were 3400. I could easily pay cash for that gun, but I prefer tickling payments to large lump sums. But I said, "What's done is done, I need to get out of this mess, let me see the payoff." 2k. So I said, "I'll never do this again. I WILL be done in a few months, and get rid of them."

    I'm not paying for 24 months. and yes there is a 240 fee, so I don't have to return the gun, I paid 3400 for. So all in all over 3600 for a 1400 gun. The advertising is deceptive. "Financing" indicates you OWN at the end of the loan, like car financing, mortgage financing. They're trying to make money. When you do that the wrong way, you end up out of business. So I'm here to turn people away and to expose how my attempt at a 12 month LOAN, turned into a 24 month lease in which I pay well over double the cost of the gun. They're like a payday loan but worse. NEVER AGAIN Credova/Monterey. NEVER AGAIN.

    14 people found this review helpful

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      Rated with 1 star
      Verified Reviewer Verified Buyer
      Original review: June 11, 2020

      I'm over the top with their extra hidden fees and charges. Trying to pay it off ASAP. My next payment was $101, with $68 in late fees and interest for their errors. So I made two payments on the same day. I "authorized" a $600 payment from one account and a $400 payment from another account. When I got my statements, it showed that they charge my accounts an extra $10 each. Can they do that? Is that legal to charge more than was authorized?

      9 people found this review helpful
      Rated with 3 stars
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      Verified Reviewer
      Original review: May 5, 2020

      When you sign a contractual agreement, you are agreeing to the terms of that contract period. You need to thoroughly review the entire document and comprehend what you are reading before signing. If you do not like the terms than simply do not sign it. Stop and think for a day or two about what you are doing and look over the "FEDERAL TRUTH IN LENDING DISCLOSURES". Everything is there in plain view from percentage rate to total sale price. Take advantage of same as cash options before the interest kicks in but If you can't, be prepared to pay the "Total Sale Price." You can't get angry after you get the money and have trouble paying it back. There are legal processes to help you when things go bad and they do sometimes. I was ecstatic they gave me a loan and I was also cognizant of the terms including the lofty annual percentage rate. Would I use their service again? Maybe, but for others my recommendation is that I would recommend that you read and understand what you're about to get into.

      8 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Feb. 6, 2020

      I keep very detailed paperwork and copies of my loan. They never had the amounts paid or remaining balances right. I am now having some last payment due issues. They have a very complicated scheme instead of a straightforward plan. I have to question every transaction because hidden charges keep popping up. BUT I have all my paperwork in order and I paid with credit cards. I will get back with Y'all so soon as I get this clear.

      12 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Feb. 4, 2020

      I made an account through Career Step and I wish I really would have read the reviews but this company is the worst. I'm supposed to pay 304.87 a month, I pay on time and even before but they still tell me I have to owe more and more on the following month. I'm 18 and working and stressing and these people really have the nerve to tell me I'm underpaying. Seek here to anyone who's is financing which is actually a freaking loan please don't!

      11 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Jan. 28, 2020

      So, I'm behind on my loan. I've been paying what I can to get caught back up. Bailey from Monterey called today to work out some sort of payment plan. First I was offered $140 a week until payments are caught up. I told her, "No, that'll leave me with $20 some dollars a week." She then offered to make my monthly payments $150 for 4 months until I'm caught up. I agreed. She put me on hold for about 15 minutes only to come back and tell me she can't offer me that agreement anymore because I've paid more this month than my original loan. She stated that I'm obviously able to pay my loan if I've paid more. What she fails to realize is $150 of the money I've put toward my loan was a Christmas gift, and I've been letting other things go just to get caught up. She then tells me I need to pay $240 a month, instead of my original loan which is $219. I said, "Ummm no, I'm struggling now as it is. Hence why I'm behind."

      I told her I will continue to pay what I can, when I can. She said, "Yes you can do that but I have access to your online college courses and I can lock you out of it until you're caught up." Well go ahead and do it **. Do your research first before you offer someone an easier payment plan. You call EVERY single day, you should've known before you offered me an agreement that I paid more than my original loan this month. These people have no heart at all. Terrible, terrible loan company. Will never ever deal with them again. How do you sleep at night?!?

      7 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Jan. 15, 2020

      We financed a small loan with this company. I had a new credit card issued and forgot to change the info. Called the day after it was declined to resolve the issue. They charged me a NSF fee, late fee, and processing fee even after I explained the situation. The following month I had card restrictions set to accept autopay but not e-commerce and it declined. I called right after bank alerted me and told them what happened and asked them to process it again.

      The funds have been available the whole time and it was the same day. They charged me another NSF fee and processing fee. I argued there is no NSF fee because the funds have been and are still there. They did not care and charged me anyway and said anytime a card is declined, they charge the $25 NSF fee reguardless and no exceptions. They also could not answer on how the transactions are processed. It appears they will screw you every opportunity they get even when you try to do the right thing.

      7 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Dec. 4, 2019

      I got a puppy loan from this company for $1800. I paid $200 down for a Yorkie puppy in Houston Texas. The puppy was purchased on a Saturday by the next Saturday the puppy was in the hospital and passed away. The puppy had undergone some type of gastrointestinal surgery prior to being sold to me and had complications. These people told me I should have had an autospy done on the puppy so they could prove what he died from. The Doctor said in the notes what he died from and they still did not want to release me from this contract. This was November 2017. Today is December 2019 and they have turned this over to a collection agency for $5000!! I'm filing a lawsuit because this is harassment and very unethical.

      13 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Dec. 4, 2019

      I had to finance payments for my insulin pump, I can’t afford to be on the pump to be honest but I have no choice because it keeps me alive, has to finance the payments. These people that work here have no soul. It’s really sad that they can even sleep at night knowing what they do to people like me, charging excess fees for everything and anything, tried to change my payments to withdrawal on. The first of the month instead of the 15 and they wanted to charge fees! I can only hope that one day they have a friend or family member that goes through what I have to just to stay alive all these excess fees are really a slap in the face. Not sure how these people work for a company like this. I will be filing a complaint with BBB.

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      Monterey Financial Services Company Information

      Company Name:
      Monterey Financial Services
      Website:
      www.montereyfinancial.com