WFS Financial ripoff, dishonest fraudulent billing and late charges and ruining my credit score from 830 to 620. Santa Ana California

Robert - Because this device was financed the refund would not be applied towards your monthly payments. It is automatically applied to reduce the principal balance.... The dollar amount financed. This information is usually located in your contract.

Word of advice - Always read your contract. Always! And make your monthly payments. Per your contract you are required to make the payments. Follow the contract and you will not have any problems. :)

O.K. I'm the guy from Grover Beach that "had" a credit score of 830 and it's now 620 . Yes I trusted the dealership that they were doing me right. I had never had this happen to me befor and as far knowing anything about WFS, well I knew exactly zip. NO, I did not think that I was getting a car for free and I will exlpain. I had paid for an accessary a (NAV) system that the dealer could not make good on for ( $1000 ) so we aggreed that the money be used to pay the first 2 payments. WFS applied the money to the principal and not the payments. They also did not notify me or send me a payment book or statement in the first 47 days of my purchase. In the mean time I moved and I sent everyone a notice and normally mail is forwarded to you from the post office. NOT WFS Financial, they have a NO FORWARDING OF MAIL POLICY. So when the mail is sent back, you automatically become PAST DUE. I'm trying to negotiate a deal with WFS to make good on this deal and restore my Credit. I spoke with a supervisor named Erin At WFS, I'll cross my fingers that she will help me.

Didn't you think to follow-up after 3+ months on where the payment coupons were, or a statement?

And you find it surprising that the dealer didn't make the payments? Why would you ever trust a dealer to do something on your behalf that would involve them actually DISBURSING cash.

Next time, you really need to follow-up better or did you think they screwed up and lost your profile and you were going to get the car for free.

And yes, I'm sorry to say if you had an 830 credit score and had 2 lates, the effects are devastating. Had you a 620 and 2 lates, no big deal, you were subprime anyway.

As far as refinancing, you are correct, you will no longer be able to get financing from credible outfits. You'll deal with schlockers.

It gets worse too, most likely you are enjoying a sizeable discount on your homeowners and auto. No more, insurance is credit driven. You're credit score is one of your most valuable assets.

Well, have a good day anyway.

With your intial high credit score, how did you get stuck with a company like WFS? You could have qualified with a better company. Did you at least receive a prime rate? It sure sounds like the dealer took you for ride.