Monterey Financial Services

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Consumer Complaints and Reviews

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Satisfaction Rating

I had to take out a medical loan and Monterey purchased my loan and I am now making payments on this loan. However, when making payments on this loan through auto draft I saw they were taking a $20.00 fee and never told me that part of my payment would be going toward this fee. I cancelled the auto pay and then called and tried to pay over the phone/internet only to find out that would $10.00 fee just to pay on this principal balance. I made that one payment then was told by someone to just set up bill pay with my bank and then you won't be paying any fees to this company.

These people were rude and ugly all because you are in need of medical supplies and paying as much as you can is just awful. It seems as though they always want you to be in debt with them and I learned that there just loan sharks. It's so sad that these high crazy fees are even allowed. I am desperately trying to end this madness as quickly as possible. A true rude rip off company.

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I ordered an insulin pump from Minimed and they offered an "interest free" 12 month payoff amount. Little did I know that they hand off their accounts to Monterey Financial Services. Which I would have been fine with if not for Monterey's ridiculous fee structure. When I first got the robocall from them, I thought it was a scammer, but I google searched them and after calling them and Minimed I found out what had happened and made a payment. For my first payment, they charged a $6 "service fee" and then a $15 "other" fee. Apparently, there is a $15 fee for payments over the phone. There's no explanation of what that $6 service fee was.

Payments online have a fee of $10 each. I set up autopayment (for which there is still a $2 per payment fee) but somehow their system didn't work (I suspect the bank declined the charge which wouldn't have been Monterey's fault) so I called to make a payment and they wanted to charge their $15 phone payment fee. At this point, it was becoming clear that they were going to be charging either $10 or $15 a month just to pay them which was a ridiculous rate of interest on my "interest free" payment plan. I ended up paying one more $10 online fee to full pay the loan and get out of it. But a word of caution for all you Minimed customers out there. If they offer a discounted upfront fee vs. a higher "interest free" pay over time amount. Don't take the latter option. It's not really "interest free" when you take into account Monterey's fees.

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I took my time and thought I had done my homework, I purchased a puppy from The puppy boutique in Florida. I signed the contract with WAGS hesitantly because of the terms. The worker at The puppy boutique by the name of Glenn assured me that I could do the early buyout, without having to pay the added fees. My baby was $3000, however, the contact stated $9286. I told WAGS and Monterey Financial that they were ** crazy if they thought I was going to pay $9K for my dog. I have left messages and they called me back, no one has been rude because I don't play that. I have agreed to the early buyout paying 2 payments, including the interest of $330. Payment 1 was made in June 2017, before the 15th of the month and the last and final payment will be made this month, July 2017.

I was informed that the company has a monthly buyout, but you have to pay prior to the 15th of the month to avoid the interest charge. I actually went off on them because the WAGS lease is conflicting, I do not have an account number for Monterey Financial, they refuse to give me a written letter stating that when I pay off the 2 payments I'm done and lastly they reported on my credit the $9K and not the $3000 I actually was approved for. I refuse to be scammed and will seek legal counsel should my last payment this month end up being an issue.

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This company is the worst. If you are reading this and making payments on your Monterey Financial accounts... You, me and everyone is getting screwed over. I have set up an automatic draft. Twice now they make me pay the 15$ to pay over the phone every time... You're ** now. It's better to let it go into default than pay these guys 110% finance charge and take our money. Look my bill is only 65.07. I really pay 85.07 and only 33.20 goes to my principal. Ok people now pay attention. They lie to us telling us that it's only 18% off but only half is going towards the bill and the other is in their pockets. They will lie and rap everyone who falls into the hanging tree we call Monterey Financial. You and I just got hung.

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Opened a loan with the through a pet breeder located in Jacksonville, Florida. This was at the start of 2015. In October 2016 I paid the PAY OFF QUOTE which was nearly $300 after paying $2100+ even though our due was $1500 (true story). I haven't received ANY bills or notifications in the matter. Upon paying them off, they alerted me that there will be NO FINAL BILL OR RECEIPT OF TRANSACTION. What kind of hellish system is that? So there is no proof that I ended my loan with you guys, really?

Now in June of 2017, I am getting bills from them and CONSTANT phone calls. I'm talking 3 a day from these SOB's while at big meetings in the office. They're saying I owe them $119, then $200, then $241? The figures don't even add up, these don't even equate to my previous payments. The worst part? I am 31 points DOWN on my credit score solely because of these guys! I have the Sanctions Compliance team at the massive financial institution that I work at opening a case against Monterey Financial. DO NOT DO BUSINESS WITH MONTEREY FINANCIAL.

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Satisfaction Rating

I bought a puppy and financed it through Monterey Financial. I decided I did not want to be bothered with this company after realizing there is a charge for every damn thing. If you opt out of automatic debit payments, it's $10.00 per payment. If you opt in with automatic payments, it's a $3.00 charge. Either way they are charging you. Also, I financed the puppy for $1600.00. When I looked at the amount I would be paying for the puppy, it would have equated to 350% more than the original price. So I decided to pay it off early. My payoff amount, a little more than $1600.00.

Sooo this little voice in my head told me to check the account and make sure it has a zero balance. Well lo and behold, my account says I still owe $3700.00! Are you frigging kidding me??!! My account states my next payment is December 10, for $47.00! Hell no! It's a crying shame I saw this today, a Saturday, when they are closed but please believe I will be calling them first thing Monday morning. And they better remove that balance from my account.

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This company does not even deserve one star. I got a good deal at a shop to rebuild my transmission on my truck so I decided to finance through them as this was my only option needing transportation to get to and from work. Everything that I was quoted ended up being higher: payment amounts, interest rate, etc... About 6 months ago I saved up the money to pay the whole loan off in full, I was told everything was good to go, I also have not had a payment come out in over 4 months from my bank account and now this morning they took money from me. Customer Service is God awful, sit on hold for 30 minutes at times only to be talked down to by a customer service rep multiple times. STAY AWAY!

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I purchased a water filtration system costing almost $3000.00. The water filter company was using a loan company called Loan Hero. I signed the contracts and faxed them in and was almost immediately approved for the full loan. When my water system arrived, I was in a hurry to install it and accidentally cut a hole too big in my stainless steel sink, but as time went on I started to wonder about my loan. I never received a payment book or even an invoice. They did have my phone number and could have reached me at any time. Two months go by and I call the Loan Hero telephone number that was on my contract. I got a rep (at least I think it was) that said that Loan Hero was not in the financial system except for education and all items were sent out for IMMEDIATE COLLECTION regardless of the contract and hung up. Further attempts only met with non English speaking people.

1 week later I received a folded 8x11 that said that all records were transferred to Monterey Financial and give a California Phone number. When I called to ask for more information, I was told that they would send me the payment book when the records reached them. As of yet I have No payment book, however the company has bent over almost backwards to try to assist in repaying this loan. Other than the first month payment was missed (because of Loan Hero) I have only missed one payment and I still have a confirmed financial total of payments as $3086.00 or something like that. I know only one good record will not bring up the negative of this company, but it is a positive and one that I feel is needed. Also, after careful inspection, I have discovered that the majority of the complaints are also against WAGS! A quick glance at their website does, in fact, look like a LEASE!

Please be careful before faulting the credit company because they are only doing this because of the way the contract was written. I suggest that people that have little or no experience with contracts, contact a lawyer before signing ANY contract. I have been with this company less than a year, and I have absolutely no complaints.

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We wanted to get a small dog for our son and after checking out some local shelters became very frustrated after not finding a pet to love. We googled some area retailers and came across Luxury Puppies. They were great and had a variety of puppies to choose from but. When I was hesitant about the $1100 they suggested I could finance the puppy, which sounded good to us. We drove 20 mins out and looked at the selections of puppies. We fell hard for an adorable toy Yorkie. After spending over an hour there they drew up our Wags Lending approval and suggested some take home items they had available.

So we're all ready to go when I see this contract they want us to sign. It was double the price they stated and had monthly payments and buy out options. I was immediately angry and told them I felt deceived and bamboozled. They explained and proceeded to show me how other clients have used Wags Lending and had no complaints, that clients have the option to just pay the purchase price of their dog within the month to avoid all those high interest costs. I was under the impression I was financing with an early buy out option, not leasing! And even after paying double the price they want an additional payment to "purchase" the dog. I am beyond upset. This is the worst, most deceptive company I've ever come across. How has a class action lawsuit not been filed against these people? I for one will be contacting a local office to do so!

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This is the 1st negative review I have ever written and they deserve it! I took out a medical loan for surgery almost 2 years ago through United Medical. Monterey Financial bought my loan from them a month or so after I had taken it out. I was making my payments on time and realized that only about $10 was going to my principal each month. Even when making several payments a month, nothing was being applied to the principal. They give you a run around every time you call with questions, the people they have answering the phones are rude and not professional at all, each one tells a different story!

I would NOT recommend doing any type of business with them at all. The company is trash and as far as I'm concerned the employees are as well considering they lie and steal from innocent people daily. I stopped paying them and they reported me to the credit bureaus, adding on an additional $2000 more than what I owed them when account closed out. Even in collections they still won't receive any more money from me. Please reconsider if you're needing a loan, look elsewhere.

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They are scammers. I purchase a dog for 3400. Dummy me didn't read the contract BECAUSE THE GIRL AT Breeders of America told me 3400 and didn't bother pointing out 6400. Definitely the girl didn't explain to me that the company charge you double the price. They give you one price and you wind up paying double 6400. They are scammers... this company is cahoots with many other companies and they should be stop!!!

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If could rate this company with zero stars I would. Was rushed through the financing part of this purchase. Was told terms that were not on the contract. When I Read again I was mortified of the terms and called the owner of the shop to return my dog, next day. Was lied to again, and told that I was misunderstanding the terms. Paid for the dog almost to its entire purchase price and when I called for a payoff amount it was for another bogus amount almost 5K. The 2k I already paid was as if I had never paid anything at all.

Have complained multiple times, same story. No manager is ever available and they threaten me and continue to harass my phone. They have now sent me to collections and are ruining my credit. This company is a fraud and they treat people like crooks even when they mess up with their billing and fail to input information correctly. They also fraudulently report to credit bureau when they fail to input a payment correctly. I recently read an article on Bloomberg and it is almost verbatim of what I experienced.

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We would never have chosen this company with this kind of interest rate and shady additional charges and ridiculous fees; however, we changed to a "point system" with our timeshare. They were in with Monterey and got kickbacks. All $3500 was for program changes in order to process points... Ha ha. They have been drafting my card for over a year with no problem... Until I was a victim of international fraud and my bank changed my card number for security. Monterey charged me $45 and would have added more to take my new card through their rep for the payment. Claimed I had voided the contract. Would not adjust off any fees although I was a victim.

Had they drafted my account and not the Visa associated with the account, the draft would have gone through. They waited to notify me until late fees could be charged! I will pay this off ASAP and pray that all of the thousands of bad reviews on them will fall on someone who can shut them down... Truly a shady business to let operate in America... Shame on all of us!

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I purchased some training to work from home. I was told it would cost 300 dollars. The next thing I knew I was asked to sign a contract through Monterey Financial. I was told 60-day money back guarantee. After ninety days they would draw a monthly payment of 83.00. The first month they took the amount out, it was unexpected but fortunately it didn't overdraft. I contacted the man and told him what happened. He told me it was a mistake and he would tell them to wait 2 months before they take any more money.

Five days before the 60 days were up I contacted them and said I wanted a refund. I was unemployed and the program didn't work like it was suppose to. They agreed over the phone and I did not hear from them again until I received the email telling me the payment was due and if I didn't make the payment it would show up on my credit report. Unfortunately I didn't see all of the reviews until after it was done. I didn't get the training promised. I didn't get the refund I asked for, all I got was an email wanting money. It's been six months since I started the program and I still haven't made enough money to make a single payment. I can't believe this company is still in business. I wished the government would investigate them and FINE THEM, maybe charge them outrages interest!

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I was told that my payment did not go through so I had to make another payment. So I called on the 2nd of the month and was told that the first payment went through and that the 2nd payment would be cancelled. Now both payments went through and they continue to lie about what they did. When a person asks for a supervisor they always say that there are not any available. This is a company that no one should go with. After I pay them off they will not be used. I recommend that anyone looking for credit go elsewhere. This company is a total rip-off and over charges for their loans.

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Everyone on here was lied to into signing an agreement that was sold as financing. Only later to find out they were making a lease payment on their balance. There has to be a lawyer out there that can tear these people apart. I signed a blank square and they added my signature to this "lease" agreement that I never even saw until after the fact. That HAS TO BE ILLEGAL!!!

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Today I had a question to understand the difference between a buyout plan and early termination. A extremely rude low class representative said "let me explain because you obviously don't understand". I interrupted her and asked her not to speak that way. I'm the customer and her job is to provide customer satisfaction. She said "you can complain about me my name is Kia extension **". I can understand why Monterey financial rating are so low because they hire the worst people who are on the low end like Kia. I have never been spoke to by any customer service rep. When dealing with wages lending they are outstanding. They have it right, but Monterey financial need to revisit who they hire. All I want to do is pay off this debt and be rid of this institution and make sure people NEVER go through this company.

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Call BBB on this heaping pile of garbage company. I was tricked into signing a contract that turned my 1300 dollar dog (outrageous to begin with) into a 4000 dollar lease agreement in which I could either pay MORE money at the end or return him FOR A FEE. Even better, I found this out 6 months after the fact when I called in to find my account balance was exactly the same as when I had started 6 months prior. Calling better business will force these people to amend your contract in whatever way to satisfy you. But, it gets better.

After doing so and finally getting a contract I could agree to and my balance had finally been paid, I am still being charged monthly by these people and nobody has a single idea what is going on. I called last week to be hung up on, yelled at, and lied to until about my 8th call when someone assured me I would receive a refund for the wrongful payment. Now, a week later, still no refund and I am now being harassed by these people that my account is now overdue when my contract was actually paid in full and ended now almost 2 months ago. This place is a ** and I am truly sorry for every single person that gets fooled into signing their ** contract.

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I made a huge mistake in going to a pet store to find a cat. However since I was young and stupid I thought I could only get the breed of cat I was looking for at that shop. (I should've done more research and looked at pounds) But the past is the past. So the pet store sets me up on a credit loan. They get me approved with a company called WAGS. They tell me the price the Loan will cover which is $2500. So I'm all excited I got this beautiful orange Maine Coon and now I have something to start building credit with! Well a few weeks later I get a contract purchase agreement between WAGS and Monterey Financial. My $2500 cat turns into a $5200 cat! Those bastards threw so much interest at me that I paid for the cat twice! Then I had to set them up on automatic draft from my account they never pulled the payment on the day they said they would.

Their staff are incredibly rude, not to mention this crap company is in California! So I can't even call them at convenience because of the time difference and my work schedule. I didn't have a account number because I never got a formal contract just a letter of the sale. So I couldn't set up on their horrible website that looks like a high schooler designed it. So I had a problem where I had to close the bank account this company was attached to and because it took forever to get a hold of them I got charged 50$ for inconvenience and not getting my account switched when I couldn't even get a hold of these people. Then to make matters worse they don't have anyway for you to setup the withdrawal on their crap website so you have to give your information out over the phone.

Then when it came time for my contract to be done, like any normal company the pay off amounts the same because you pay up the butt for interest. Well this company decides to get you one last time by some ** excuse and my pay off went from $146 to $353 to close the account out. I got no letter stating the closing of the account cost a BS amount and they Screw me right over! Now I'm currently waiting to gather more money so I can pay my property taxes... Don't ever let anyone sell you to this company. Do your research on other companies before you become a victim to this scam loan company!

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I should have known when I signed up with Career Step, that they were a scam. I was going to take a medical transcription class, and then financial hardship struck, so I was unable to continue on. Well, unfortunately, Career Step doesn't care what your problem is. Everything is turned over to Monterey Financial from the beginning. Career Step suggested that I stop what I'm doing and get right back to class, without hesitation, and without caring about what has happened. I was harassed by Monterey Financial until I gave in, and set up a repayment plan for something I'm not even doing... So I'm literally paying over $3,000 for something I have no time to complete, let alone afford. Monterey Financial doesn't care what your situation is. They want that money for their clients, and will do everything in their power to get it...

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I had brake work done by Brake Masters, which seemed like a reputable outfit. As always happens, they found other "stuff" that needed repair, to the point where I couldn't afford to do it all! "No problem," they said. That's when they offered FlexPay, a loan outfit that gives you a loan (but doesn't check your credit, which should have been a tip off!). The loan terms came in the mail -- $1100 in brake work is gonna cost a whopping $2400 with their exorbitant interest charges! Oh, and it gets better: I finally put together some funds to pay the sucker off. I got a payoff amount from them over the phone, over $600, and paid it online. No dummy, I called the next day to confirm that it was paid off. A representative (I use the word loosely) said "no problem", all paid off.

Later it showed up as "unpaid" on my credit report! I called, and after back and forth, and consulting with my attorney, I decided to pay the "balance". Got a quote from another Rep, but (getting smart here), I asked for a written confirmation that the amount was the final final amount!! Next day I get an email -- AND THEY'VE UPPED THE AMOUNT AGAIN! At this point, I have no confidence that I'll ever be able to kill this loan! Consulting with my attorney again; he says take them the small claims. Considering!

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It was to be a self help class to get rid of depression and panic attacks and to learn to enjoy your life! I had maybe 6 or 7 sessions and the fee was 6199.22! I totally feel taken advantage of. I am still depressed and I see a therapist on a weekly basis! I really do not feel I got my money's worth!

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I had purchased some website coaching from Achieve (name change after the fact). I was paying monthly with a credit card until Monterey failed to charge the card October 2014. The card was subsequently canceled so I was making monthly payments by check. Certainly something they did not like. After a couple of months of nastiness because I was paying by check I decided to pay the statement balance in full January 2015. Heard nothing from the company until 6 months later then I supposedly had a balance of $69 which would have been the interest that was due if I had not paid the balance early. Calls were intermittent for a few months but recently they step up the game. Not only are they RUDE they do indeed talk over you, state that I would have never received monthly statements (I did) will not acknowledge that I paid off the loan.

Trying to get anyone to listen is impossible. The $69 now seems to be more than $111 fees on top of fees and interest that is charged on fees. No written documentation is provided and refusal to work with me other than threats to my credit. The amount of money that they spend on these nasty calls are ridiculous. Thousands of dollars spent for harassment.

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Purchased a couch, agreed to payment plan with a loan company called Loan Hero. This company transferred or sold my account to Monterey Financial. It's been a nightmare dealing with their uneducated & rude staff. Monterey Financial staff is rude, talks over the customer, hangs up on the customer, will not allow the customer to speak with a supervisor/manager when requested. Made arrangements with them to make automatic payments. Gave them my correct account number and routing number 6 times and they couldn't get it right. Apparently it was my fault when all 5 or 6 customer service representatives entered my info incorrectly. Most of their customer service representatives seem to be deaf and stupid because they can't get anything right.

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I got a dog through them, didn't know I would be getting charged double the dog price... and it is not a loan but a lease. I am really disappointed with this... I was under the impression that I would just be paying my loan off for the dog, no. I am paying 4000 now. I see there are a lot of complaints, does anyone know how to get out of this?? I don't want to hurt my credit or go to jail??

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My wife decided to surprise me with a dog and was one of the worst decisions ever made. First buying a dog for $1500 is beyond ridiculous, but I understand there are those out there that want a purebred. The dog came home and was sick with both kennel cough and an infection from an open wound on her head. That very night I looked over the contract and was absolutely floored with the terms. First, the price of the dog was in the neighborhood of $1500, but after WAGS Lending stepped in the cost is over $3000 with a $161 installment which has been auto-debited every month thus far without my permission and without my name appearing on any of the contracts. Also come to find out after looking at the contract closer, we don't even own the dog, it's a two year lease (who does that?!).

Unfortunately, our children wound up reacting bad to the addition of the dog, with near constant allergy attacks. After trying a myriad of different medicines our only recourse was to try and terminate the lease early. After going back and forth numerous times, the only way that we can break the lease is to hand them $1100. I pleaded with them and it doesn't matter that your children's health and well being is threatened, they absolutely will under no circumstances work with you to pay the early termination fee. It's cash in hand or nothing.

I threatened to take the dog to a shelter because of the severity of the reaction my children were having and they were quick to inform me that any transfer of the pet to any 3rd party could [will] result in a fine and legal action against my wife. I was absolutely stunned. After explaining all of that to me they had the audacity to tell me that I could buy out the dog early and take it to a shelter. What they're doing can't be legal, this is absolute madness. The health of my children is threatened and they have locked any avenue for me to protect them. I have no idea what we're going to do, which is why I'm posting here.

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I am being charged double for what the dog cost. They refuse to send me paperwork with statements. They harass you 24/7 like hello my payment will not be there a week before it's due so stop calling me. They tried to make me pay 2 months at a time because I was 2 days late... NOTHING BUT A SCAM.

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Purchased a couch, agreed to finance, paying off as early as possible. This company is charging ridiculously high interest rates, rude, talks over the customer, hangs up on the customer, will not allow the customer to speak with a supervisor when requested. Paid my bill in full last month, date: March 22, 2016 - payment was processed on March 24, 2016 for 1,013.44, the amount of the payoff, my original purchase in the month of July 2015.

I was not told I would be entering into a rental agreement until the payments were completed, until after the contract was mailed to me, after the 3rd request (the lettering was too small). I every month asked for the payoff amount, so that I would be able to gauge the actual amount of interest that was being accrued, payment was made to close out the account. I requested a letter to verify that I had paid the account in full.

Today is April 22, 2016 - I still have not received the letter. I called yesterday @ 322 pm, was hung up on, called back... No one answered the line for 10 minutes. I hung up and called back and the CSR rudely stated that the account was not yet closed out. I questioned why. She abruptly states it will be closed out in 10 business days. I requested a supervisor. She left the phone for 10 minutes and returns stating "all of the supervisors are in a meeting," I may leave voice mail, etc. This lack of concern for the consumer of their business is ridiculous. I will never, ever do business with them again. They are liars and cheaters with no concern to conduct business in the way it should be conducted. I mentions I would contact the Better Business Bureau. They laughed and said "they will not do anything." Please, investigate this company.

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Responding to all the public complaints I read about Monterey Financial. I see exactly what your complaints are about... Yeah, well they are hard core when it comes to customer service. I know it's a business but to outright rip us (the public) off with "over the hill", "high interest rates" just isn't right. I wouldn't be surprised if the government is part of this conspiracy. Maybe that's why Monterey hasn't been shut down...

Unfortunately many people including myself don't read all the fine print. It doesn't matter to them if you're only income is that one check you receive a month. They have no heart and won't seem to work with you... It's all about the money, money, money... cha ching!!! And by the way... to all the people who contact the "Better Business Bureau"... a joke. I just found out myself that the companies actually pay the BBB to give them the A ratings whether they deserve an A or an F... So if you ask me, all in "CAHOOTS" together. So I for one, do not rely on the BBB...

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I read the majority of these reviews before applying and still did so as it was the only option to try and purchase a puppy that I had fallen in love with and did not have enough cash to outright purchase her. I applied via my cell phone and was approved within minutes for $1,400.00. I carefully read all of the information prior to signing and was not pleased with the outrageous finance terms, but the monthly payment was average ($165.00) including interest; this was in December 2015. The following month I contacted company and was speaking to a live agent. Within minutes, she provided me with the payoff information I was looking for and all was well.

Now for the reason I only gave the company 4 stars instead of 5. At the end of last month (February), I called again for a payoff amount (wishing to make the payment immediately) and was hung up on twice without speaking to anyone. On the third call I was placed on hold for almost 15 minutes and when finally the female came back on the line, she gave me the payoff amount, took my credit card information and informed me it would take about 3-5 business days for accounting to process the payment and update my account.

3 days later, the payment processed through my bank and I assumed all was well; at least until I checked my account online and noticed they posted the payoff payment AND a $157.00 payment due 11/20/2016. Upset, I called again. I was placed on hold for about 10 minutes and a young man answered the phone and told me he would immediately correct the problem and asked that I check my account again in 48 hours. Obviously I did as he asked and the 'odd' payment did in fact 'disappear.' I have since then emailed requesting a written receipt stating my account had been paid in full.

I received an email response back within 24 hours confirming that my account was, in fact, paid in full and they normally did not send out letters like the one I was requesting, but that they would do so. This was 2 weeks ago and I have not received that letter at this point, but I have saved, printed, and have taken a screen shot of the email as well as my account online that states my balance is ZERO, just in case.

I will say that it is VITAL those applying for financing with this company that you read the FINE PRINT, as it does very specifically state at the end of the financing terms, the purchaser will be required to pay an additional $225.00, as the 'property' (pet) is only being leased until the entire balance, interest, and final buyout amount (the $225.00) is paid in full.

Monterey Financial Services Company Profile

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