WebWestlake is more than just an indirect auto lender. Experian notes that a voluntary repossession might hurt your score slightly less than an involuntary repossession, but they havent said whether this is always the case or just a possibility. Written by Im $3000 in the whole because of this fraudulent company and dealership. New comments cannot be posted and votes cannot be cast. No materials from this website may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way. For taxes, credit cards and everything else, here's what other financial help is available. Repossessions are considered derogatory marks on your credit report, which means that they can seriously damage your credit. If you would like to see more Rip-off Reports on this company/individual, search here: First of all, unless Robert has made a major purchase, this SUB-PRIME lender is NOT his company. Monday morning we get to our car and find our debit card and money still there and went straight to ******* to send a MonyGram of ******** directly to them. How Long Does a Repo Stay on Your Credit? Truck was repod on the 6th of November owing 242.00 no other past due payments truck was on a 20 day impound on the 20th day I went to pay the 382 or something like that to get my truck out of impound wen I did I was informed u guys had picked it up wen I called u guys u said u had repod my vehicle becuz it was in impound but the thing is u didnt have to go get the truck I was going to the very next day wen I was allowed to the truck was not left there I had been in contact with the tow yard several times while it was there they were fully aware that I was going to go get the truck at the rnd of the 20 days wen in the 6 th of November u guys repod then wen I called asking questions the guy I was talking to was very rude and impair isnt u have the recording as well as I do I was simply trying to understand wat happening n why I was more then willing to pay the tow yard fees and the 242 dollars I still owed on my monthly bill I have had a total of I think 19 payments with u guys with the exception of one payment late I think I might be wrong I might have paid it with in the grace period and I read ur policy saying that u guys were allowing us to skip a payment or more and put them twards the end of the loan but ur guys were rude I asked for a manager n he was even wors then the first guy he got loud with me becuz I asked him wat exactly it was that was paid to the tow yard n becuz he had already gave me a long list of charges and fees I had to now pay due to the repo I was unsure of wat was paid to them he demanded I get a pencil cuz he had already told me these things so now I needed tow right them down he kept getting upset wen I would ask any questions n wen I said Im sorry sir but I am not pay 1600 dollars today theres no way specially wen I feel like the truck shouldnt of been repos in the first place had u left it where it was Id have it today but becuz u went one day before I could Im stuck with 1100 more then I should be and wen I asked for help cuz I can only pay maybe half that today Im treated like Im on the street corner begging for change almost like u dnt want my biz any more like us rather take my truck then keep me as a costumer Im so confused and dumb founded n not knowing wat Im going to do now becuz thats the familys o ly means of transportation with two kids I. We fell behind on our payments and our car was impounded on Thursday February 2nd. Dont want to wait? Los Angeles California, Westlake Financial unauthorized use of a debit card not once but twice. Repackaged from Purchased from Amazon, stealing all certifications and false manufacturing markers from the packaging of NB food supplements. If you've fallen behind (or you think you're going to fall behind) on your car payment for 90 days or longer, you may very well be at risk of having your car repossessed. Want CNET to notify you of price drops and the latest stories? Search dealer inventory with a hassel-free car buying experience. If you fall behind on your home equity loan payments, the bank has the right to foreclose on your home. A lot of these folks are cash-strapped, and [lenders] are making a bet that theyre not going to hire a lawyer, he said. We hope this template helps you achieve your goals. Some of our articles feature links to our partners, who compensate us when you click them. I took my paperwork to the Toyota dealership, he said they'd already sent Westlake a car. Thank you for bringing this matter to our attention. He hit the nail squarely on the head over and over. Stop! If you click on one of those links, we get paid. Ford is currently offering to pay six months' worth of new vehicle payments when you purchase a new car from the company. If four wheels are something you feel you cannot do without, consider a used car. Contact Westlake Financial today. 5 Voluntary and involuntary repos arent different in this respect. West Palm Beach Florida, Tuffy Tire & Auto Service Center Mavis Tire & Brake Charged Nearly $700 for Non-Fix Bay City Michigan, Lighting New York lighting by Jared Sent damaged product wont refund after I sent back damaged product website description is fake, Tara U THEY SCAM THOUSANDS OF PEOPLE WITH THEIR FLOWER ORDERS. If you own a home, you may want to look into a home equity loan. Our writers and editors follow strict editorial standards and operate independently from our advertisers and affiliates. WebFind homes for sale from 40% to 70% below market value. second mortgage) that usually amounts to 80% of the equity in your home. Los Angelas California. 2. Our editorial team operates independently (with no influence from our affiliates or our advertising team) so as to avoid compromising the objectivity of our reviews. Want to check your This method isnt as beneficial if you have bad credit because you wont qualify for better rates. Please DO NOT add attachments that contain your or other peoples personal information, if you dont want it to be visible to the public. Copyright 1997-2023, Ripoff Report. Still dealing with a lying, cheating, non customer service company! It may not be copied without the written permission of Ripoff Report. When your lender seizes your car or another asset as collateral Its possible to hide your car from the repo man, but you could You can usually buy your car back within a short window after a SYNCB/PPC stands for Synchrony Bank/PayPal Credit. Has your experience with this business or person been good? Find a willing trader and fill out the paperwork. Our expert, award-winning staff selects the products we cover and rigorously researches and tests our top picks. Either way, you may be entitled to buy back the vehicle by paying the full amount you owe, which typically includes your past due payments, the entire remaining debt, and costs related to the repossession, like storage, sale preparation, and attorney fees; or bidding on it at the repossession sale So the only liar in this situation is YOU. Victoria Scanlon If your bank doesn't have it set up that easy and you have no idea where to begin, the legal services websiteDoNotPay has a chatbot that can help you draft a letter to your lender. Enter your credentials to view your account. Websites like leasetrader.com make this pretty straight forward. Thats our first priority, and we take it seriously. (In this context, financing refers to taking out a loan to buy a piece of property and using that property to secure the loan.). Its unfortunate we couldnt fix it all in the past.. By extending the term of the loan for instance, if you had 24 months left on your original loan and you extended that to 36 months your monthly payments will be lower. Fast forward to yesterday, I received a call from ***** again stating that it was decided that they wanted the dealer to purchase the car loan back because they broke rules by paying the first payment. Advertisers above have met our
This comment was posted by a verified customer. How long does negative information remain on my credit report? You think you know so much! This is not legal advice and no attorney-client relationship is established. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. Involuntary repossession means the lender seizes your vehicle because you are behind on your car payments. Under normal circumstances, most lenders will report a late payment to the credit bureaus once it's at least 30 days overdue, and they'll typically come to take your vehicle away after you've missed three or more payments in a row. In general, if you can avoid a repo, you should do so. Tell us has your experience with this business or person been good? Simply explained, refinancing means replacing your current loan with a new one, usually from a different lender. Thanks! Our expert, award-winning staff selects the products we cover and rigorously researches and tests our top picks. If you get a two-month deferral, your loan term will extend by two months. Do you not see how many negative comments are on this page? Once this is all done, hand over the keys. We place links on our website to our affiliates, and when you click those links, our affiliates compensate us for it. First off you need to get out of your fantasy that you are actually going to get approved for a Mortgage right noweven if the Reposession wasn't there. So getting the car back was actually the smartest thing you could have done if you truly cared about your credit. They should know we are making currents payments they call us every month 2 to 3 days before the car payment is even due! I have no choice but to accept their response, but I reject it wholeheartedly. Westlake Financial Services (Westlake) values its customers and takes each complaint seriously as an opportunity to assist and service customers more effectively. I would of took that money and put it on a down payment with a company that isn't a bunch of harassing liars! Note that complaint text that is displayed might not represent all complaints filed with BBB. Learn more about how we make money. Instead, the software was intended to be used only to make calls appear to be coming from local numbers instead of toll-free numbers that consumers often will not pick up a practice the firm said was legal, though no longer used. Banks, Credit Unions & Savings Institutions, Credit Protection Laws: The Consumer Credit Protection Act, How to Lower Your Credit Card Interest Rate, Credit Cards for Millennials: Terms, How to Apply & Rewards Programs, Unable to Pay Credit Card Minimum Payment, Gray Charges Have Credit Card Customers Seeing Red, Hazards of Paying the Minimum Payment on Your Credit Card, Revolving Credit: What It Is & How It Works, Unconventional Ways of Building, Improving Your Credit History, Unable to Pay Credit Card Minimum Payment , https://www.consumerreports.org/car-financing/many-americans-overpay-for-car-loans-a8076436935/, https://www.washingtonpost.com/business/2019/02/12/record-million-americans-are-months-behind-their-car-payments-red-flag-economy/?noredirect=on&utm_term=.9ed74c490e2e, http://ceepr.mit.edu/files/papers/2018-005%20Authors%20Statement.pdf, https://www.consumer.ftc.gov/articles/0144-vehicle-repossession. Jesslyn Firman, Reviewed by Take advantage. Resolved. How voluntary repossession works Voluntarily surrendering a car involves informing your lender that you can no longer make payments and intend to return it. It does not need your car keys to take your car. If youre able to get a lower interest rate, the total cost will still probably increase, though not as much. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. By clicking "Submit" I agree by electronic signature to: (1) be contacted about credit repair or credit repair marketing by a live agent, artificial or prerecorded voice and SMS text at my residential or cellular number, dialed manually or by autodialer, and by email (consent to be contacted is not a condition to purchase services); and (2) the Privacy Policy and Terms of Use. See details. They can, however, follow you to work, for example, or the grocery store, and wait until you leave your car unattended. Western Funding **** values its customers and takes each complaint seriously as an opportunity to assist and service customers more effectively. It may pay off to call a nonprofit credit counseling agency and let them look at your income and expenses to see if they can help create aa more affordable budget. Westlake Financial offers indirect auto loans through participating new and used car dealerships across the U.S. WebWestlake Financial Services My auto loan was paid off by my credit union in February 2014 for estimated $13,000+; Westlake Financial Services reported to the credit bureau that my car was repossessed for the amount of $13,000+ in December 2013.
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