Monterey Financial Services Reviews

Abusive. They do not understand the situation that people are experiencing, I have been paying a debt that does not go down for months, on the contrary it goes up, the daily interest is very high, it is better to stop paying than to continue giving away the money.

Opened up this account thinking it was like a normal credit card, boy was I wrong. It should be illegal the fees Credova/Monterey Financial charge. Used credova to purchase a silencer. When I got an alert on the amount that hit my credit and did more research and read the fine print, I immediately called to transfer the balance to a normal card and close the account. The suppressor was 1080, the balance on the credova account was over 1800. They also charge a fee of $10 a month per payment on top of the monthly payment. When I did the transfer to a normal card, the charge was almost $1500. I had the account for a total of 35 days! 1080 turned it 1500 in 35 days, oh, and my credit score is over 750. Does this sound like an honest company to you?

Monterey finance, the worst, I purchase an item in ** that was $399 through “CREDOVA” finance part of it and of course saw the final charge after 12 months of $1300 to which I thought was like Progressive leasing. If you paid within 3 months you will just pay what your finance price and probably a fee, but aside that there is a different company that collects (Monterrey finance) just after the first payment went through, I went back to pay the rest of the of the loan (lease as they called) and find out that the $399 item now is $842 if I want to pay early. That is a 100% fee charge or if you continued with the terms you will pay 300% and that is no way around it, the only thing they tell you and the only thing you heard from them is “You sign… you pay!!! And we can charge you 500% if we want," be careful with this cause, there is no breakdown on the feed in any part of the contract, you don’t know what is what…. Be aware of Credova and Monterey finance.

Nicole B, the account representative at Monterey Financial Services, is amazing! She not only helps me with any issues related to my account but is also extremely knowledgeable in answering any questions I may have regarding my account. I couldn't ask for a better representative! Thank you, Mrs. Nicole B.

First, I signed a contract not ready the fine print. I signed based on a conversation (my fault). I have been mailing payments. For some reasons they don’t get them on time. Mind you I have a ten day grace period. Most recently I was charged a late fee however the payment was posted before the grace period. I call to dispute and was given three different scenarios as to why I was charged. The first was I was late in February, the second was late in April and the third was I was late in June. I asked the rep why wasn’t I charged in those months if I was late. The rep tried explaining the contract. At this point I’m getting upset. She then stated she could transfer me as though I couldn’t comprehend. I told the rep that I didn’t want to speak to another person to give me a fourth explanation. I called them a fraud company and terminated the call.

Do not use, would have given a negative number if it had been an option. Their contracts are loaded with clauses that will bite you in the **! Used them same as cash option first two times. Went back a third time. Was inside the 90 days. Went to get the payoff and they informed me that I had not exercised that option in the contract so it wasn't applicable, so I said give me the pay off and I want to be done. Got off the phone and paid 294 to pay off the contract only to discover they were still charging me last month $69.82 the last two months. Called to see what that was about, and they informed me that I did not call back and confirm I was paying it off even though I told them I was, and they heard me ask for the payoff and saw it post the same day. They went back and reversed the last two charges but in one word - deceptive. Proceed with caution. Not honest people - will be filing with Fed agencies and AG's office.

Predatory lender. Abusive processing fees. Unresponsive to communication attempts. STEER CLEAR!!! Last August I purchased an item for $315 thru Credova. Their lease agreement stated I had 30 days to either return the product w/o fee or I could agree to pay in full and I would not be charged any additional fees. This was attractive to me because I wanted to actually see the item before committing to spend a few hundred on it. Once I received my product I decided I did in fact want to keep it so I followed the guidance in the lease agreement. It instructed to call or email with my intention of paying in full. I did both. I did not hear back immediately from the email and I was not able to get ahold of anyone on the phone. I left messages and sent more emails. Finally I receive a reply thru email stating that they did not handle payments I needed to call Monterey. Great. Did that. Still unable to get a hold of anyone.

NEVER EVER do business with these pirates! Horrible customer service and incompetent, spoke with Angela, was rude and condescending. Interest rates are super high! Changed my bank account for payment and they didn't register it as promised.

I had a loan through Credova and immediately got a email saying I had a loan through Monterey Financial. I didn't agree to. Didn't have any issues. Paid all my payments on time with auto pay til the last payment that they said you have to call and pay cause it can't be auto drafted probably because it's more Than twice what you have left on it. But not knowing that I missed the payment by 7 days cause I notice the payment didn't come out my bank and I received a email stating Monterey financial hit my report with a lease full termination remark and won't take it off my credit when contract says 10 days before you're charged a late fee. Now it paid in full and they still won't remove this remark that dropped my credit 70points. It's not worth it when you already pay 3 times what your loan was to deal with that.

Financed with Credova and made my first payment thru the app. After 3 days, I received an email saying that I made my first payment from Monterey Financial. Was shocked cause I did not remember being associated with them and that the only loan I had was with Credova. I was upset cause I thought Credova had sold my billing information to another company. Called Credova Customer Service right away. Waited for a long time. Well, I do understand that sometimes they receive many calls especially Credova is a loan company and a lot of people like me to call and ask questions, so I calmly waited on the queue.

This company is a shady racket. I paid via credit card early and they claimed to run my card but never did! Then they charged me an NSF fee even though the FUNDS were available!!! I charged the account on the 23rd they claimed to run it on the 25th and it declined on the 28th! ALL LIES. I have my running balance in my account and there were plenty of funds available! Then they said the $35 was LATE!!! WTF and tried to add it to my next payment... Do not trust this shady firm and please turn them in!

I accepted a loan for 1260 to pay off something in payments so I figured I’d pay them early for interest reasons and I used my American Express card and did a 400 payment. It then gave me a receipt saying, "Thanks." Another payment in the books …only to find out my payment didn’t go through because they don’t accept my American Express card that had plenty money on it so they called me to tell me not only did my payment not go through after they gave me receipt but they explained that because my payment didn’t work that I ruined my chances to do the 3 month no interest offer so for me trying to pay them early they screwed me on money and didn’t accept my card.

I tried to make an early account payoff (before any payment was due) and it was declined for an unspecified reason. Monterey they said I lost my promotional financing because of the declined payment and charged me $59 to make another payment. I was never notified or given any way to fix the situation before being penalized.

Don’t do business with them or Credova or anyone who uses Credova. Used a loan to purchase something for $350. Ended up paying $630. That’s how much they mark it up. I paid the loan within a month. Avoid these companies.

On a popular sporting good site, I clicked on the "90-days, No Interest" banner. The loan was then sold to another company called Monterey Financial. Luckily, after browsing their website I found the "early buyout option" price listed, which was 180% higher than the total purchase price. I called them, learned I didn't receive the 90-day no interest deal, and I will need to purchase it outright for about $15 over what my total was...by the 30-day mark. Credova is an apparent scam.

These people are horrible horrible horrible.... Stay far away. I signed up w/ Credova but my loan (yes, it's a loan despite what they call it) was then transferred to this horrible company who tacks on hundreds in fees for even an early by you... Shame on my for not reading the contract thoroughly enough, but shame on them for these deceptive business practices.

Start a process with the Credova company which sold the loan to this financing which are thieves. Doubled the amount from 1800 to 4950. Do not make any deal with these scammers, money thieves of one who gave me this bad time.

BattleHawk offers financing through Cordova who sells your loan to Monterey Financial, Battlehawk should remove these finance companies from their website, these finance companies use unscrupulous tactics to rip you off and steal your money by the deceptive advertising practices. They offer 90 days same as cash, I was approved several months ago through a different Firearms dealer and paid off the gun before the 90 days. I went through the same Finance company both times, the second time I thought it was the same deal because on BattleHawk website it says 90 days same as cash, by the time I realized it was already too late and I ended up paying close to double for the gun in just over 30 days. Battlehawk should remove the deceptive advertising!

Do not finance anything merchandise through this company! Loan Sharks that will double the finance charge on your purchase! Read their loan agreement paperwork thoroughly! I originally bought a product through Credova, somehow Monterey slipped through the cracks and purchased the loan. Then put the item I purchased as double the price on my credit report. They will only give you 30 days to pay in full.

Well from experience that Credova is a lying company that sells accounts and when it states what the monthly payment be and then afterwards it balloons twice or triple an interest goes up. Im saying never use Credova or Monterey as these companies shouldn't be into financial on guns at all or say put not in business. I still have 3 checks out to Monterey Financial as they gave me a address to Seattle, as my bank put a stop hold on them checks and also in there for Monterey to contact my bank. Have they yet done so. No. But hell no.

PLEASE! Do yourself a favor and NEVER use Credova Financing. I used them once to buy a $460,00 shot gun and paid about $100 for them letting me borrow the money. So after it was paid I decided to buy a Remington 308 bolt action rifle. So I used them again and I was charged over double the price with a balloon payment at the end. WTF? Is this even legal? I always try and read their terms. but when it comes to your phone it is kind of hard to read everything. I guess I will blame myself for that but them charging me over double the price is downright a snake move. I'M here to just let you know and learn from my mistakes. They deserve NO stars. I would get better rates from the Mafia.... Please BOYCOTT this Company.

I was reading the reviews for MFS and though since I have completed 3 contracts and about to do a 4th with them via Credova, that I would give my two cents. First of all, Yes the agreed upon interest rate is very high but if our credit was sparkling we would put the purchase on that platinum MasterCard right?! All of my contracts have been under the premise of 90 days same as cash. I have had every intention of paying before day 90 and have done so each time with the exception of contract #3 which was canceled due to shipper issues. I have found Monterey Financial Services to be upfront and forthright on every occasion. So to summarize, if you don't want to pay a lot of interest - pay within the 90 day window if it's offered. If not, expect to pay what you agreed to.

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.