Monterey Financial Services

So husband bought a gun and used Credova but then loan was sold to Monterey Financial Services. I manage our bills so one night I checked the payment history to see the remaining balance only to find out that I have been only paying for the interest for $122/month and the loan outstanding balance is $941. I paid over $800 now not knowing it wasn't reducing the principal at all. This is the only company I've known that they will charge you 3 times the initial loan amount for the interest rate and of course won't let you go easy by making a lump sum payment on the outstanding balance because they charge you like years worth of interest plus a lot of whatsoever fees. DEFINITELY AVOID USING CREDOVA.

I took a loan from Credova and was sold to Monterey Financial and was going to almost double of what took as a loan. Also had 90 days same as cash from credova until wanted to pay off early and only had 30 days with monterey financial, good thing I was going to pay within 30 days. Would never do business with either company again.

I started out with a company called Credova and they sold my contract these people! I told the finance 90 days same as cash! They said ok! Now at the end of 90 days this company wants me to pay over a 1000$ more! Take a warning. Be careful using this company!!

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.

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 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?

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.

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.

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!

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."