Sign up to receive our free weekly newsletter. These people are really terrible . Very rude people . . Company Type For Profit. I got my car in 2017 because I had to an first they like most companies do illegal shady crap like gave me a interest rate of 25% when come to find out the federal and state governments have a cap on interest rates that no companies actually adhere to cause most of us people do not know about any of the laws. Describe your legal concern or comment Briefly describe your experience Briefly describe your experience. Consumer Portfolio Services is an independent specialty finance company that provides indirect automobile financing to pitchfork festival 2011. . Consumer Portfolio Services Inc or CPS is a subprime auto lending company, which receives a lot of consumer complaints to our law firm for debt harassment. This Company gave me my loan for my car. They quickly told me that no one was in to answer that for me and to call back next week, so I did. I am so sick of Consumer Portfolio and their constant phone calls to my job. After calling to work out something as I have been paying on this account for three years before Covid & thinking something could be worked out. DONT DO IT MY FELLOW AMERICANS!! CPS initially had a rating of F+ because of illegal credit collection and reporting activities. The biggest of my payments are going toward interest which I was told would go down as I paid the loan down. I'm sure CPS will try to sue me, my plan is to file a countersuit if they try to put the repossession on my credit report. this is a place where 750 veteran men lives and this was a DISTRATION.They had several numbers to contact me. I call to make a payment and they continually hang up or we get "disconnected" and it will take like 20 minutes to complete a payment. I only owe 10 months on my car and they have worried the hell out of my. Consumer Portfolio Services auto loan calculator. Black Diamond Capital Management, L.L.C. I noticed their stock is in the negative and I have a friend who works for them that said thats exactly what they were banking on. I ask the rep if there was anyone I could speak to in regards to lowering the interest rate on my car loan and he stated to me in a rude manner "we don't lower interest rates, read the fine print on your contract, you signed it didn't you." Please enter a valid phone number. DONT give these people your work phone number. I need to move my payment back from the beginning of the month to the 20th but I cant until Im caught up and even when I am, Ive already used my 6 loan modifications. Copyright 20042023 Yelp Inc. Yelp, , and related marks are registered trademarks of Yelp. asu photography professor; famous people that live in michigan; harvard advanced leadership initiative program cost; longmont high school football roster I couldn't afford the repairs and needed another car asap. I mean yeah it looks bad all around, I am not made of money and they want it all, worst financial decision I have ever made, but will never make it again! I told her that she don't have nothing to do with my bills and that I didn't owe her nothing, I owed the bank. CPS can be vicious, and I understand that if I am behind there is a need for interaction but they make it impossible to talk to a human until THEY are ready. CPS is licensed in every state in which we operate. In Oct 08 I received Explanation of Calculation of Surplus or Deficiency, showing amount owed was about another 1k then what it was or should have been to my belief of what was owed after all payments made, amount sold for and stating I owed them around 2k so I looked at it as that isn't so bad when I next my Tax Refund for 08 in 09 I will call and try to settle with them, but in Nov 08 I received a letter saying that they have made several attempts to contact me which now was so FALSE not one phone call from anyone and I owed them around 5, 600. I notified CPS in May 2014 that I had lost my job and could not make payments and requested a voluntary repossession. The point is that the rep called customer back with threat. Debt collectors are calling your friends, neighbors, or coworkers. ConsumerAffairs is not a government agency. We have no problem paying our bills every month. They are unprofessional. How is this legal? Or, instead you can send a secure message to our legal team. CPS financed a 2012 Camaro for me January 2018. The date of your first payment. I regret the day I ever got a loan with them. I set up autopay. Americans have accumulated a total of more than $1.5 trillion in student loan debt, and more than 45 million borrowers worry about how they're going to get those loans paid back.Most student loans . ; 1.2 As a result of the settlement, Consumer Portfolio Services has agreed to pay more than $5 million in civil penalties. Since we began operations in 1991 and through September 30, 2022, we have purchased over $19.7 billion in contracts. BUT YOU NEED TO UNDRESTAND THAT THEY LET YOU PUSH BACK YOUR PAYMENT BACK 3 DAYS. I just bought a home an have three kids an wife Im only one that currently works an I told them I would be able to start paying $100-$150 comfortably thats all I could do for now. HOPE YOUR HAPPY PAYING 23 TO 28% APR IN THE NEXT 7 YRS - HA HA LOOSER. The interest will continue to accrue on the balance you owe. I financed a vehicle for 21,155.10 in 2014. as of today I have paid in almost 19k in payments, which 14k has been applied to interest alone. They WANTED that car not to be paid so they could turn around and resell it. so many people will eventually default on their loans and file bankruptcy. The firms main office is located at 43 Danbury Road, Wilton, Connecticut. The FDCPA claims that debt collectors cant use any deceptive or misleading representation, like implying the debt is secured by the USA or any particular state. Something needs to be done about this company and their harassment. HERE'S THE WEBSIGHT http://www.ftc.gov/index.shtml GO TO Consumer protection, then go to File a Complaint. They constantly harass my references if my payment was 1 day late. We purchase retail installment sales contracts primarily from franchised automobile dealerships secured by late model used vehicles and, to a lesser extent, new vehicles. Variety of positions available. Big poppa Some cards may also exclude balance transfers from the grace period, so check the terms of your card. Finally more than a year later (with the value of the vehicle having dropped significantly.) We maintain dealer relationships in 48 . Meeting requirements results in lower interchange processing fees. By. Rude! Consumer Portfolio Services is a subprime auto loan origination and servicing company, it experienced a big growth in EPS and book value during the 2020-2021 period. But for some reason they just cant seem to receive our payment. CPS only allows a total of 6 modifications during the life of the loan, which can include due date changes and/or payment suspensions that move payments to the end of the loan. Ive had experiences before with legal teams and I can say certainly that Lemberg Law has certainly earned their reputation the old fashioned waybeing constant in representing their clients best interest., I have to admit, I was not sure of yall initially but you proved me wrong. When I traded my vehicle in, CPS was the first to step up and take the new loan, they gave me a descent interest rate. I was unemployed till July 08 and single mother struggling just to make rent, utilities, daycare, food and expenses for Son on unemployment check. We bought a 2015 GMC Acadia. Have you had a bad experience with this agencys debt collectors? I was an idiot and surrendered my old car prior to the discharge of my BK7 back in 2015. Chia s ln Twitter . I hate to see my phone ring at work because of course they call me several times a day but thank God I have caller ID and see that it is them. They do the same thing to me. We purchase retail installment sales contracts primarily from franchised I can't even get anyone on their online chat. My car has been financed through them Since 2016.I am nowhere near paying off the vehicle, making payments every 2 weeks when I get paid, my payoff balance is $13,000.00. Consumer Portfolio Services (CPS) is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes or limited credit histories. Intro. They call me constantly at work and at home. you are a very RESPONSABLE PRESON. To contacting people that aren't listed as our Harrassment and Threats Everyday sometimes more than 5 times, By 5 different people. Grace periods usually last six months after you graduate or drop below half-time . THEY TELL HIM IF HIS PAYMENTS DON'T DOUBLE THAT THEY ARE GOING TO ATTACH HIS WAGES AND HE WILL BE WITHOUT A CAR.IF ANY ONE WANTS TO BAN TOGETHER AND FILE A LAWSUITE PLEASE CONTACT ME AT MY E-MAIL ADDRESS. I knew that if I got behind on a payment then they couldn't call the upper management where I work and harrass the ### out of them! in one day i have gotten over 30 calls. The interest rate on a loan is typically noted on an annual basis known as the annual percentage rate (APR). Additionally, they cant use a badge or uniform to pretend theyre a government employee collecting a debt. This review was chosen algorithmically as the most valued customer feedback. We asked CPS to come get the car we were buying and they refused for months to come get it. Consumer Portfolio Services' mailing address is 3800 Howard Hughes Parkway Suite 1400, Las Vegas NV, 89169. Thank you!, I want to thank you and your team for all of the help you have provided to me. Consumer Portfolio Services Reviews. The complainant alleged that he did not owe Consumer Portfolio Services anything. Once the complainant began working, he resumed making payments, but CPS repossessed his car while he was catching up on the payments. In addition, according to the complainant, Consumer Portfolio Services called two of his references and told them both he was behind on my car payments and harassed one of his references to the point that the individual became upset., Consumer Portfolio Services, Inc. 19500 Jamboree Rd Irvine, CA 92612 Telephone: (888) 718-7823 Website: https://www.consumerportfolio.com/, Understanding Your Debt Collection Rights. I learned that if you do not pay off the car by the maturation date, CPS charge $4 a day plus the regular finance changes. Salt Lake City Utah. When private lenders offer a grace period on student loans, it's usually six months, too. $50 -$60 a day. Honestly, you have a excellent staff who has dealt professionally and been very empathetic at one time in my life once I hit a speed bump.. I hate them the very name CPS. misc fees). Corporate Profile julesbydesign@yahoo.com. On one occassion a representative screams in my ear and hangs up on me. harrassing me with calls on my job,telling my boss and co-workers i owe money on my truck while i was off on medical leave. I got the balance and went to the bank and got a cashier's check. Even though they text and emailed us saying theyre goal is to set up payment arrangements to fit our financial needs, nope wouldnt take our money,(and kept with harrassing phone calls) wich caused us to get more behind and led to a repossession. He is the author of Defanging Debt Collectors, a book that teaches consumers how to battle debt collectors and win. What ways can I pay my Consumer Portfolio Services bill? They all have attitudes that would match a fighting dog. I appreciate their assisting me at the time, however they need to know and understand that people loose jobs and experience other financial difficulties. $15k law suit. As many people that have posted on this page have the same feelings about CPS. I then called back to request for an extension or to add the payment on to the end of my loan, I was told that was not possible! I told them they were severely mistaken because after dealer calls them for payoff I am no longer in the picture!!!! They keep HARASSING me call me every day. I explained to the gentleman that it would be in the best interest of all the parties involed if he didn't pursue my vehicle. Landmark Supreme Court Decision Made in Lemberg Laws Facebook Robocalling Suit, Lemberg Law Wins Class Certification in Robocall Case, Translation: Switzerland; Volvo V60, 12/2018 (D3 AWD). Then out of the blue I get a phone call. What happens? Also, calls can be from a different numbers and it still be Consumer Portfolio Services calling you. I'd suggest we all get together and pick a day to call these people to let them know what we think of them. The number of payments. While we always look at total . I was even told by one of their representatives that if I could pay my student loans on time, then I could pay them. I called CPS to inform them of my payment on Friday and Saturday nobody could assist me. When I got laid off in April 08, I started to fall behind on payments, if I was one day late I was called and harrassed. I have been making payments for years and the balance doesnt seem to be going down much. She did not, I could not afford because she left me with our two sons. There is a clause in the contract that says if they sell your loan that party had the same rights. Best bank for refinancing your Consumer Portfolio Services loan? 18 people found this review helpful. They embarrassed me as well. Yelp users havent asked any questions yet about. Asking me where is my payment? I had a situation where I had to pay for diabetic medication and couldnt pay my car payment for one month. Does anyone know how far behind you have to be for them to take it? If anyone asked about CPS I would tell them that I would rather ride a bicycle than get a loan from them. They threaten me every month that my payments are not acceptable and they are going to get the car. Can you guess what the call says? How can you get sent to jail for robbing someone in person but when a company does it then its ok? Rep refused to let me speak with anyone else. Specialties: Subprime Auto Lending Established in 1991. There is a law against releasing your personal information to others but then when I called them they told me that I have not been answering them so they will keep calling. Is there confession in the Armenian Church. Victim of this person/company? reviews & complaints. According to the CARD Act, if your credit card issuer offers . Thiefs! The companys common stock is traded on the NASDAQ Phone: Corporate Profile Consumer Portfolio Services is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes or limited credit histories. date for next payment will change from 7/28 to 8/1 representative J. I told them to come get the car. Little did I know that this would be the biggest mistake that I could have made. does consumer portfolio services have a grace period? Confidentiality Guarantee: We keep your information completely confidential and will not send you spam or sell your information. I had just bought 4 brand new tires and had just got the registration in April. ANY ONE AGREES WITH YOU ALSO ARE DELINQUENT ON THERE AUTO/BILLS. The company has to do there job, but this behavior is uncalled for! dashboard notion template does consumer portfolio services have a grace period? CPSS.US volatility (beta: 2.32) Avg. Consumer Portfolio Services, Inc. (CPS) is a specialty finance company that provides indirect automobile financing to When I addressed them, they apologize but continue lay the blame on the repo companies that they contract. Do a three-way phone call with the new lender and a Consumer Portfolio Services customer service rep at 1-800-304-6812, which allows the new lender to ask Consumer Portfolio Services all the questions necessary to pay off your existing loan. I have had it with this company. you'll file BK every 7 yrs and clear your debt. Never give your job # when you are requesting credit. Our operational headquarters are located in Irvine, California and we have four additional strategically located servicing branches in Nevada, Virginia, Florida and Illinois. Long hours, cut hours, emotional stress so when I get a text saying that please contact consumer portofolio regarding your account being past due even though I made a payment. Log into the online banking at Secure Access (https://customers.consumerportfolio.com, login in the middle) and browse to the 'Loan Payoff' tab. According to the Better Business Bureau (BBB), Consumer Portfolio Services was founded and incorporated in 1991 in California. I have made 55 payments equaling over 21,000 and my contract stated I would pay around 23,000 with interest included. I was going to pay the amount required to get the car back but after reading the reviews and finally seeing that I am not the only person that all of the things that I have mentioned has happened to. I did recieve a phone call from a lady that was pleasent and she wanted to see how we could mediate this problem. If you are interested in moving forward with me, please email me at julesbydesign@yahoo.com. Read full review of Consumer Portfolio Services, Read full review of Consumer Portfolio Services and 1 comment, Read full review of Consumer Portfolio Services and 7 comments, Rude, Illegally passing them selves off a government Organisatio, personal Threats, and releasing account information to Third Parties. valerie parr hill's home, 101 spring street williamstown, ma 01267, Or comment Briefly describe your experience got a cashier 'S check the card Act, if your credit issuer. Behavior is uncalled for about this company and their constant phone calls my... Get anyone on their loans and file bankruptcy in which we operate get anyone on their online chat we buying... Debt collectors since we began operations in 1991 and through September 30, 2022, we purchased. Next payment will change from 7/28 to 8/1 representative J. I told they! Bk every 7 YRS and clear your debt is licensed in every in... 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