Prestige Financial Services, Inc ripoff, Continuous harrassment and very unethical company Salt Lake City Utah

So, how many rebuttals were actually endorsed by and maybe paid by Prestige?  What a joke! I can't imagine ANYONE being happy with them.  Even when our payments were on time, we got a phone call to "remind us" of our payment.  We were harassed all the time by them, as was my mother in law...my MOTHER IN LAW...who had not co-signed for us and had nothing to do with our loan!  They threatened to throw her son (my husband) in jail! Who tells a 70 year old woman that?  You can sugar coat Prestige all you want, but they are a modern day loan shark and with the Federal Government cracking down on corrupt debt practices, I hope Prestige is one of them!!  If you are thinking about using them, run and run fast!  I swear, they are nothing more than a legal form of the mafia.

When I had a double bankruptcy on my credit report, Prestige Financial was the only lender that would give me decent terms for a nice reliable used vehicle. I got a loan for a $16,000 car at $400.00 per month with interest at 17% for 72 months. I was rolled into a rate reduction program such that if I made my payments on time, my rate was reduced 0.25% every 3 months. No other subprime lender I dealt with before would ever reduce my rate and I had two subprime loans previously. I was also amazed that I needed no downpayment! Most subprime lenders require a large downpayment that threatens to destroy the finances.

When I signed all the paperwork at the dealer, the dealer informed me Prestige did not have a grace period. I was a little unnerved by that and asked could I put my payment on auto debit and they said I could and that calmed my fears.

I got ONE phone call from Prestige in the beginning from my account manager to welcome me and remind me of the terms I agreed to. I setup auto pay at that time.

I had the loan for a total of 4 years and had $4800 left on the loan when I traded it in. I was NEVER late and none of my payments bounced. I have heard after bankruptcy (especially a double bankruptcy), that you are expected to be a model citizen and that one late payment could jeopardize any chance of getting a mortgage. I was serious about improving my credit and wanted to be a model citizen.

Throughout those 4 years, my $400 cleared my account on time every month. I never changed the due date as in beginning, I was allowed to pick the due date that worked best for me and I chose the 15th which was offset from my rent payment so I wouldn't have too many things clearing at one time. I also put my car insurance on autopay for the 15th as well. The only issue I had with them was they sent me a letter once saying they had no record of insurance on the vehicle and the letter included a fax number for me to fax that information in to them and I did and didn't hear another word from them regarding that.

Prestige GREATLY improved my credit such that when the car I financed from them broke down at slightly over 100,000 miles, I was able to trade it in for a lease on a brand new Acura TL from Acura Financial Services! The dealer pulled a credit score of 724. Acura quickly paid off my loan with Prestige for more than the amount owed as I just made a payment that didn't post yet. And Prestige sent my refund check for the amount overpaid promptly and thanked me for my business.

I am not a staged employee. I am a real consumer that wants to thank Prestige for giving someone like me a chance. Throughout those 4 years, I ended up in the hospital and had to have surgery but when I was under general anesthesia, Prestige was still getting paid as well as my other bills because they were on autopay.

If I ever needed a subprime loan again, I would call Prestige. Hopefully that will never happen. My payment to Acura is also on autopay as well. My advice to the complainers is, know what you are signing before you sign. Build a savings so that when things come up, you can still make your car payment on time. And don't take on more debt than you can afford. If folks keep screwing with these subprime lenders and not living up to the contract they signed, they won't be there for people like me who are serious about improving their credit and good people that fell on bad times will be shut out from getting a nice a reliable vehicle. I have no sympathy for those who didn't pay Prestige on time and are calling them a predatory lender. Road Loans with $4,000 down and 25% interest on a unreliable piece of junk are a predatory lender! Not Prestige! Let's pay our bills on time folks so that Prestige will continue to be there in the future for folks that need them.

  I would like to start off by stating that I have researched Prestige Financial while also reading each and every consumer complaint on page one. I am embarrassed that so many of you share this great country with the rest of society, and here is why:

1. There are more misspelled words and incorrect grammar usage that I have ever witnessed on a blog or website of this nature.  I can understand the occasional error, but these submissions are borderline disturbing.

2. I have never read so many excuses from individuals for their mistakes and poor financial management in.my.life. Everyone has issues and catastrophes that they must work and rebound from. Complaining about having to make a car loan payment is disgusting to me. You can take the bus for $2.50 a day. However, I promise you the bus driver will not let you on said bus if you don't pay the $2.50 when it is due.

3. I fortunatley do not have any debt issues. I am involved in the company because a coworker decided to write down my information as a refernce. Let me tell all of you, being a reference for someone who does not comply with a contract and pay their bills on time is just as annoying as being the party responsible. Do you think I want to get calls on your behalf to hound you to pay your bills?  The answer ladies and gentlemen is NO. I pay my bills on time to the day or early every time.  Please do not use the postal system as an excuse. If you bill is due on the tenth and you are paying by mail... mail it 10 days ahead of time. If it takes that long to get there (or so you say) then you will either be early or on time. Wow. Genius.

4. The collectors JOB is to make sure you pay your bills on time. That is all.

Please for the sake of America pull yourself together and stop complaining. If you have enough money to own a computer and access internet, you have enough to pay 100 a month (That only equates to 20 dollars a week). Stop wasting your time on the internet complaining and find a job, and if you have a job; focus on improving your position and salary. OR you can always go back to school and enroll in an English class.

Thanks.

Just look at the messages...this lender takes a chance on these losers with a PROVEN TRACK RECORD of not paying their bills on time. They CONTINUE to not pay their bills on time but when the lender attempts to hold them to their word (which again is proven worthless), oh the lender is now predatory, the lender is illegal, unfair, uncaring. Then read on and you'll once again see the nature of "low class losers" as they say how anybody who advocates paying your bills on time must work for the lender. Apparently these very obvious losers think everyone is in their class and only a lender's employee pays their bills on time! Talk about sorry people. A sad commentary on the sorry state of responsibility in America. You subprime thinking, welfare type deadbeats make me throw up.

If you're car is repossessed or voluntary surrenderred and is sold for less than the amount owed on it, of course you will still owe on the car. That is a legal binding contract between you and the creditor which you obtained the loan from.

Because of the critical reviews all over the Internet and not just ripoffreport.com, I will deny the loan they approved me for. I didn't sign. I was going to buy a car using them, since I have a Chapter 13, and I realized that I don't need their comical interest rates and their collection practices which are typical of sub-prime lenders.

I'm going to be smart about my credit this time, and just wait until my Chapter 13 is over and get a real, ordinary, prime lender, and not a company like Prestige.  I gathered from what I read that they prey upon buyers who are financially challenged, to be politically correct, and I'm glad that I did research before I signed the contract, and in so doing, spared myself a huge finance charge and the high cost of using credit required by Prestige Financial.

For the amount of money they are asking for a down payment, I can find any number of good-running vehicles that serve as a basic conveyance that will simply get me to work, the store and back home without any pretentiousness.  I'm glad this time I refrained from signing on the dotted line.

Thank you, critical reviewers, for sparing me a lot of grief and from being ripped off.  I truly appreciate it.  May good Karma come back your way for your prudent warnings.

I would not sign with any company that does not issue a grace period.  It's a standard in the loan industry, and to violate that tenet by demanding payment one hour after it is not received is not worthy of my business.  Regular credit companies do not operate like loan sharks. 

I am abandoning this post and will not see any rebuttals from Prestige employees or whomever.  I just wanted to make my point and move on.

I totally see where you guys think at least some of the rebuttals are from staff. However, I am a consumer and we had NO issues with them at all. A few converstations though.

My husband and I had both had been married previously. When we got together we tried to get on track, then I was laid off due to 911 from my job at the airlines. Of course we had poor credit. We filed Chapter 13 repayment bankruptcy in June 2008 when there was no hope. by June 2010 (one year to go on our chapter 13) we needed a car because our junker was just that junk! We went to Huffines in Lewisville Texas and the ONLY place we could get a decent car and get it financed was through Prestige or Credit Acceptance. Johnny Ray was soooo awesome in helping us. Prestige said zero down and credit acceptance wanted 4k down, guess who won? Prestige.



If you have poor credit and need a car and you want to accept their terms- then why complain after the fact? It does suck! But just like us, we screwed up, trying to fix it and this was our ONLY out. We accept the responsibility of messing up and having to deal with the consequences.



They will move payment dates up to two weeks if you look online under you account there is a section for that, and it gives you a calander to move your date. You have to give a reason why but the option is there for emergencies! I never did it because I wasn't sure if it remained that date or if we would have to pay another payment 2 weeks later or if the entire due date changed for good.



Yes the dealership charged us more for a car but it was in reason. Yes we had high interst rates (due to our past problems/choices/ etc). We are fully taking responsibility and trying to fix it the best we can!



We purchased a 2009 Toyota. Our interest rate was huge at 17.25%. It could have been much worse but apparently Toyota has better value so they reduced it from 18 to 17.25%. What you guys are failing to understand is you can get that reduced if you sign up for their interest reduction program. For every 3 months you pay ON TIME and maintain VALID INSURANCE (which is the law anyway in my state- Texas) your interst rates reduce by up to .50% until it hits around 12% and then it stops reducing. You actually can save a lot of money from what you pay them if you do it.



We paid on time and our payments were $387.03 for 72 months when we started. I paid $400/mo to pay extra and continue to try to save money long term. After 1 year of payments and high/reducing interest we still owed $15,700 on our car. Luckily trade in value was around 13,500 so we were only upside down 2200 and that could have been MUCH worse.



I agree they should NOT call you in the hospital. Shame on your friend for telling them which hosptial you were in! But you are expecting this business to make your problems their problems. They can't  and won't do that. Is it compassionate? NO. We had a death in the family, called Michael our "account manager" and he said we could move the date but we could not have a deferral. So we just paid the payment and worked it out a different way. We were never late with them. Our payment was due on the 9th and one time I was going to make it that day due to paydays and they called me on the 8th to remind me. I did not like that. I also did not like they charge $10 extra for phone processing a check- seemed unfair but it is what it is! they are in the business to make money and they choose a high risk group to appeal to. One guy mentioned credit card processing- As far as credit card processing, the credit companies charge a lot of money sometimes 4-5% of the payment and that is less money they get so they charge 20-30$ extra for that. I don't like that either, but even my local county charges a "convenience" fee when using credit cards for 3% the payment on top of the payment. I never use the cc with them because 3% plus the insterst on the card its not worth it.



Yes it sucks, but in my mind, I was thankful someone would finally work with us inspite of our past. I was thankful to have a safe decent car to drive and payments I could afford with no money down.



We ended up after a year of paying the toyota trading it off at Moritz for a VW EOS convertible- much more us of a car. Our payments went up to 415 per month under Wells Fargo who I'm not crazy about at a lower interest rate for 60 months.  So I am thankful they gave us a chance and helped us get a vehicle we needed at the time. I am very thankful they posted our GOOD payments on our credit file monthly and improved our credit score.



We did have a phone call 6 days after trading in our car because it was the 9th and our payment was due. We explained we traded it off and to expect payoff. The guy was not rude- just firm- and yes there is a difference- and said we are still responsible for payment until they get pay off. Of course I am not going to pay an extra car payment when they have payoff on the way. We told him call back in 5 days if they didn't have it. Well they must have gotten it because on the 12th my account was closed and paid off. We never had trouble with them.



They do not negotiate with you inspite of personal issues that come up but honestly who does anymore? People abuse the system so its rare anyone works with anyone. I would have thought when our family died they would have worked with us and they did not, so we just didn't deal with it, we moved on. I would use them again if I needed ot though! WE had no trouble.

People who expect the lender to advance money to someone who has a self made reputation of not paying their bills and not paying them back. 

The loan you have is a no grace period loan.  You cant pay the loan the day after the due date.  After 2 days delinquent we start calling referances.  Why do you think we asked for them in the first place?  It is important to remember that We do not sell cars.  We never even see the cars that we loan the money for.  We are a finance company and we will loan you money when no one else will to buy the car of your choice.  If I give you 10,000 for a car I want my money back plus intrest.  If you say I'm done come get the car we will, and we will sell it at a dealer auction for about 30% of what you owe on it.  You still owe us the other 7,000.  You aren't "done" because you don't have a car.  We didn't sell you a car remember. We loaned you 10,000.  This is the same with every finance company out there.  Not our fault you dont know the laws.

Prestige does work with subprime loans but they are also a very predatorial on the customers that they approve, not only will they bait and switch on their loan practices but they continue to harass and treat even their current and on time customers with such disrespect that even these customers will never do business with them after the end of their loan.  There customer service reps are given the freedom to break collection and privacy laws over and over on a daily basis, and the over inflated interest rates can reach as high as 70 percent plus, no grace periods, late fees that can be added to the end of loans that will make the consumer pay additional $1000's of dollars.  So yes you might be buying a low mileage automobile at around $12000 to $14000, but after all of the hidden fees and nonexistent rate reduction and constant harassment you could be paying an additional $5000 plus on a throw away car that will be worth about $2000 once your loan is up, great return on investment. Prestige's dealer members target people who are not bad people just people that are either down on their luck or who are desperate for a solution to the situation of no transportation, granted most of these people have gone through bankruptcies or a lot of credit challenges throughout life, but with Prestige saying that they are here to help is a very inaccurate statement, they will take the subprime paper and make their customer remember on a daily basis that all they are is that subprime paper and will never be anything different, not a good situation to a person who is trying to change their life. This lady did not say she needed money for beer or cigarettes, that she or her husband were veterans,  and I didn't read in her post that she had put a 2000 watt amp in her car, all that she said was that they had crossed the line. If you read her post carefully instead of assuming she is a deadbeat because she is disgusted by their bad collection practices, here is an old cliché that might be used a little too much as of late but I do believe it fits in well with her situation, Einstein said, “The definition of insanity is doing the same thing over and over again and expecting a different result.”  Now by calling over and over does this company believe they will be helping their customers out effectively?  They say that they are there to help so instead of oppressing your customers and sticking them to their due date.  Here this is from their website; throughout its organization and in all of its business dealings, Prestige creates success one partnership at a time. The company’s unwavering commitment to customer service and an intense focus on continuous improvement have allowed Prestige to enjoy, and to look forward to, strong and steady growth. Some of these people that post on here and have had as they say a great experience from this company really might be genuine in what they say, and that they might be real customers, but why would you be reading posts on Ripoffreport.com about Prestige?  I tend to believe most people are honest on a daily basis so I have a hard time taking them for what they say. Unfortunately once you turn in a car the money owed does not stop, you did sign a contract.  But they do have to deduct what they resold the car at and if they choose to collect on the balance owed they do have that right.  What you can do is negotiate a better buyout, payment terms, etc.  But if you feel you are being treated unfairly you do have the right as a consumer to file a report with Utah’s BBB or even with your State Attorney General’s office they are there to help and they do take consumer abuse serious.  Jim I feel like I struck a nerve with you, please explain what the hell I don’t know what I am talking about and enlighten us with your great wisdom as to what makes a lender a predator or not!  Read what the lady wrote and stop ASSUMING!!!!!!!!!!!

You sub prime people became subprime because YOU developed a reputation for not paying your bills on time.  Only YOU can change that by doing what you promised to do...make on time payments.  But for those of you who not only have subprime credit but additionally have a subprime mentality toward financial responsibility, you won't understand that because in your mind its "not your fault".  Typical subprime thinking:

***Its not my fault I'm subprime.  I'm just "credit challenged" because of life circumstances.
***I will not get a part time job to improve my cash flow.  I need free time for me.  Why should I do that
when their prices are too high.  Besides everyone knows there are no jobs.
***They need to be more sympathetic.  Beer and cigarette prices are high.
***I just put in a 2000 watt amp in the car.  They need to understand I can't make the payment.
***They won't help me at all.  All they're interested in is money.
***They repo'ed the car because somebody in the office wants it.
***They are being hard on me because I'm female, male, black, white, hispanic.
***I proudly served my country in Vietnam!  They need to be understanding of that!
***They took billions from taxpayers now they are still after the little guy.
***I'm just going to take it back.  That'll show them who's boss!
***All you people who say we should pay on time must work for them.
***They need to be shut down because they keep calling me when I'm late.

Now all you sub-prime credit risks who are actually working to improve your life...great job!  You'll get out of it!  The rest of you?  Grow up and live up to your responsibilities instead of bitching and whining about "predatory" lenders which quite obviously shows you don't know what in the hell you're talking about!!!

Prestige does work with subprime loans but they are also a very predatorial on the customers that they approve, not only will they baitand switch on their loan practices but they continue to harass and treat eventheir current and on time customers with such disrespect that even thesecustomers will never do business with them after the end of their loan.  There customer service reps are given thefreedom to break collection and privacy laws over and over on a daily basis,and the over inflated interest rates can reach as high as 70 percent plus, no grace periods, late fees that can be added to the end of loans that will makethe consumer pay additional $1000's of dollars.  So yes you might be buying a low mileage automobile at around $12000 to $14000, but after all of the hidden fees and nonexistent rate reduction and constant harassment you could be paying an additional $5000 plus on a throw away car that will be worth about $2000 once your loan is up, great return on investment. Prestige's dealer members target people who are not bad people just people that are either down on their luck or who are desperate for a solution to the situation of no transportation, granted most of these people have gone through bankruptcies or a lot of credit challenges throughout life, but with Prestige saying that they are here to help is a very inaccurate statement, they will take the subprime paper and make their customer remember on a daily basis that all they are is that subprime paper and will never be anything different, not a good situation to a person who is trying to change their life.

My friend was in the hospital for a heart attack and other problems. In which time he received numerous hateful, condescending, VERY rude phone calls. He had been with them for 3+ years and never late. They did not care that he was in hospital in very bad shape. Kept screaming about contract, called him a deadbeat. Just like the other "so-called" happy customers. THEY work for prestiage. Their manager must have put them up to posting here. Like the guy said, why would you post here if you have 0 problem with them. Bad things happen to good people. Their actions do not justify their means, Hatefulness.I was able to help him out with getting those pricks their o so preshious money. I told them of his medical problems and they said. NOT MY PROBLEM. Tell him to pay on time or we will take it. I told them they may get their wish as he may not ever get out of hospital. She said, so, we will be at his probate and get OUR money their. He still will have to pay even if he is dead, He signed a contract and we WILL get our money. Funny part is these stupid people actually thing prestiage cares about them. They will be dumped as soon as they need more money in their pockets.

I have been with Prestige for 3 years now and the 1st 2 years without a missed or late payment, I developed cancer and was undergoing chemo for 6 months of which I sent 6 months of payments in. Then lost my job for 11 months I was unemployed and relying soley on medical assistance of which does not come regularly and does not get direct deposited and does not let you send payments to companies etc...........talking to my account rep I asked to change my due date and she said NO. They could nott and would not do so though they advertise that on their website as well as while undergoing the loan process, so to the person who said they got theirs changed I would love to see that paperwork! and would love to have your account rep.
To those who keep writing how good of a company they are, please.........any company failing to give a grace period orr any that will not take vis, something is wrong there! Visa is one of the largest companies and Prestige will not take visa........makes you wonder.
All I am wondering is how can I get some help since the economy is so bad, I get paid once a month now and most companies are saying they will work with you even on new car purchases, are their only concerns are the new facility they "had" to build or that the COE needs a new jet, read the news articles about them......my money is needed because they can't pay their bills so you and I are not blessed with a grace period but they sure are making thee money off me!

The comments here defending Prestige Financial sound an awful lot like the things their employees have said to me when I've asked them why they're being so aggressive.

"You signed a contract"

"Be responsible"

"Pay your bills on-time"


I find it hard to believe that an ordinary customer that wasn't having any problems with Prestige Financial would come to this site, do a search for Prestige Financial, read complaint posts and defend the company. Really, how many people spend their free time doing internet searches for companies they aren't having problems with in order to defend them.

I'd be willing to bet a large amount of money that the idiot in charge of their collection department instructed employees to post these rebuttals on the clock.

I'm in my forties and have dealt with at least over 60 different companies in terms of having to pay them money for one thing or another. (Electric, Cable, Phone, Autos, Credit Cards).

Sometimes I pay them before the due date, sometimes I pay them after the due date; however, I always pay them as soon as I'm able depending on the money flow that month (always within 5-7 days). I have zero +30s on my credit report and, if I'm unusually late, appreciate a reminder telephone call.

I didn't get a loan from this company because it was my only option. I got it because it had the best available used car interest rate.

In truth the collection policies of this company shock me. I can't believe that a company would be so aggressive and hostile about receiving their payment EXACTLY on the due date. Not only does it make one not want to do business with them again, it also makes one not want to do business with anyone affiliated with them.

At some point they hired or promoted a manager that showed them that they could earn X amount of extra money in float (the amount of money the company earns on the money they have sitting in an interest bearing account) if they bullied customers into paying as close to the due date as possible. He or She did a presentation to someone that showed that the cost of having call center employees repeatedly and aggressively call people was less than the amount of extra money in float they would receive if the payments were made X days sooner.

Most companies have the basic business sense to understand that making people angry every month has a cost associated with it that can't be entered into a spreadsheet and off-set the expense of late payments by charging a late fee.

Actually, late fees are very profitable for companies that extend credit, which is why they're not harassing you the day your payment is due. If you're willing to give them an extra 30, 40 or 60 bucks to be 10 days late, knock yourself out.

So, to the defenders - be honest with yourselves and acknowledge that this is, to say the least, a very, very unusual business practice in the United States. You all have other bills and I'm certain that you've paid some if not many of them a couple days after the due date - did you receive two calls a day and have your references harassed when you were three days past the due date? Seriously, give me a break.

Yes we signed a contract and yes people should pay their bills when they're due; however, there is such a thing as "reasonable expectations" and "reasonable behavior" and Prestige isn't acting with either of those as considerations.

This is nothing but a short sighted customer hostile business practice that is definitely harming the bottom line of the company and the affiliated companies - the harm just can't be quantified, so they'll keep doing it.

Completely stupid and who ever came up with this operating procedure should be fired after he has "do not hire - idiot" tattooed on his forehead.

The comments here defending Prestige Financial sound an awful lot like the things their employees have said to me when I've asked them why they're being so aggressive.

"You signed a contract"

"Be responsible"

"Pay your bills on-time"


I find it hard to believe that an ordinary customer that wasn't having any problems with Prestige Financial would come to this site, do a search for Prestige Financial, read complaint posts and defend the company. Really, how many people spend their free time doing internet searches for companies they aren't having problems with in order to defend them.

I'd be willing to bet a large amount of money that the idiot in charge of their collection department instructed employees to post these rebuttals on the clock.

I'm in my forties and have dealt with at least over 60 different companies in terms of having to pay them money for one thing or another. (Electric, Cable, Phone, Autos, Credit Cards).

Sometimes I pay them before the due date, sometimes I pay them after the due date; however, I always pay them as soon as I'm able depending on the money flow that month (always within 5-7 days). I have zero +30s on my credit report and, if I'm unusually late, appreciate a reminder telephone call.

I didn't get a loan from this company because it was my only option. I got it because it had the best available used car interest rate.

In truth the collection policies of this company shock me. I can't believe that a company would be so aggressive and hostile about receiving their payment EXACTLY on the due date. Not only does it make one not want to do business with them again, it also makes one not want to do business with anyone affiliated with them.

At some point they hired or promoted a manager that showed them that they could earn X amount of extra money in float (the amount of money the company earns on the money they have sitting in an interest bearing account) if they bullied customers into paying as close to the due date as possible. He or She did a presentation to someone that showed that the cost of having call center employees repeatedly and aggressively call people was less than the amount of extra money in float they would receive if the payments were made X days sooner.

Most companies have the basic business sense to understand that making people angry every month has a cost associated with it that can't be entered into a spreadsheet and off-set the expense of late payments by charging a late fee.

Actually, late fees are very profitable for companies that extend credit, which is why they're not harassing you the day your payment is due. If you're willing to give them an extra 30, 40 or 60 bucks to be 10 days late, knock yourself out.

So, to the defenders - be honest with yourselves and acknowledge that this is, to say the least, a very, very unusual business practice in the United States. You all have other bills and I'm certain that you've paid some if not many of them a couple days after the due date - did you receive two calls a day and have your references harassed when you were three days past the due date? Seriously, give me a break.

Yes we signed a contract and yes people should pay their bills when they're due; however, there is such a thing as "reasonable expectations" and "reasonable behavior" and Prestige isn't acting with either of those as considerations.

This is nothing but a short sighted customer hostile business practice that is definitely harming the bottom line of the company and the affiliated companies - the harm just can't be quantified, so they'll keep doing it.

Completely stupid and who ever came up with this operating procedure should be fired after he has "do not hire - idiot" tattooed on his forehead.

The comments here defending Prestige Financial sound an awful lot like the things their employees have said to me when I've asked them why they're being so aggressive.

"You signed a contract"

"Be responsible"

"Pay your bills on-time"


I find it hard to believe that an ordinary customer that wasn't having any problems with Prestige Financial would come to this site, do a search for Prestige Financial, read complaint posts and defend the company. Really, how many people spend their free time doing internet searches for companies they aren't having problems with in order to defend them.

I'd be willing to bet a large amount of money that the idiot in charge of their collection department instructed employees to post these rebuttals on the clock.

I'm in my forties and have dealt with at least over 60 different companies in terms of having to pay them money for one thing or another. (Electric, Cable, Phone, Autos, Credit Cards).

Sometimes I pay them before the due date, sometimes I pay them after the due date; however, I always pay them as soon as I'm able depending on the money flow that month (always within 5-7 days). I have zero +30s on my credit report and, if I'm unusually late, appreciate a reminder telephone call.

I didn't get a loan from this company because it was my only option. I got it because it had the best available used car interest rate.

In truth the collection policies of this company shock me. I can't believe that a company would be so aggressive and hostile about receiving their payment EXACTLY on the due date. Not only does it make one not want to do business with them again, it also makes one not want to do business with anyone affiliated with them.

At some point they hired or promoted a manager that showed them that they could earn X amount of extra money in float (the amount of money the company earns on the money they have sitting in an interest bearing account) if they bullied customers into paying as close to the due date as possible. He or She did a presentation to someone that showed that the cost of having call center employees repeatedly and aggressively call people was less than the amount of extra money in float they would receive if the payments were made X days sooner.

Most companies have the basic business sense to understand that making people angry every month has a cost associated with it that can't be entered into a spreadsheet and off-set the expense of late payments by charging a late fee.

Actually, late fees are very profitable for companies that extend credit, which is why they're not harassing you the day your payment is due. If you're willing to give them an extra 30, 40 or 60 bucks to be 10 days late, knock yourself out.

So, to the defenders - be honest with yourselves and acknowledge that this is, to say the least, a very, very unusual business practice in the United States. You all have other bills and I'm certain that you've paid some if not many of them a couple days after the due date - did you receive two calls a day and have your references harassed when you were three days past the due date? Seriously, give me a break.

Yes we signed a contract and yes people should pay their bills when they're due; however, there is such a thing as "reasonable expectations" and "reasonable behavior" and Prestige isn't acting with either of those as considerations.

This is nothing but a short sighted customer hostile business practice that is definitely harming the bottom line of the company and the affiliated companies - the harm just can't be quantified, so they'll keep doing it.

Completely stupid and who ever came up with this operating procedure should be fired after he has "do not hire - idiot" tattooed on his forehead.

The comments here defending Prestige Financial sound an awful lot like the things their employees have said to me when I've asked them why they're being so aggressive.

"You signed a contract"

"Be responsible"

"Pay your bills on-time"


I find it hard to believe that an ordinary customer that wasn't having any problems with Prestige Financial would come to this site, do a search for Prestige Financial, read complaint posts and defend the company. Really, how many people spend their free time doing internet searches for companies they aren't having problems with in order to defend them.

I'd be willing to bet a large amount of money that the idiot in charge of their collection department instructed employees to post these rebuttals on the clock.

I'm in my forties and have dealt with at least over 60 different companies in terms of having to pay them money for one thing or another. (Electric, Cable, Phone, Autos, Credit Cards).

Sometimes I pay them before the due date, sometimes I pay them after the due date; however, I always pay them as soon as I'm able depending on the money flow that month (always within 5-7 days). I have zero +30s on my credit report and, if I'm unusually late, appreciate a reminder telephone call.

I didn't get a loan from this company because it was my only option. I got it because it had the best available used car interest rate.

In truth the collection policies of this company shock me. I can't believe that a company would be so aggressive and hostile about receiving their payment EXACTLY on the due date. Not only does it make one not want to do business with them again, it also makes one not want to do business with anyone affiliated with them.

At some point they hired or promoted a manager that showed them that they could earn X amount of extra money in float (the amount of money the company earns on the money they have sitting in an interest bearing account) if they bullied customers into paying as close to the due date as possible. He or She did a presentation to someone that showed that the cost of having call center employees repeatedly and aggressively call people was less than the amount of extra money in float they would receive if the payments were made X days sooner.

Most companies have the basic business sense to understand that making people angry every month has a cost associated with it that can't be entered into a spreadsheet and off-set the expense of late payments by charging a late fee.

Actually, late fees are very profitable for companies that extend credit, which is why they're not harassing you the day your payment is due. If you're willing to give them an extra 30, 40 or 60 bucks to be 10 days late, knock yourself out.

So, to the defenders - be honest with yourselves and acknowledge that this is, to say the least, a very, very unusual business practice in the United States. You all have other bills and I'm certain that you've paid some if not many of them a couple days after the due date - did you receive two calls a day and have your references harassed when you were three days past the due date? Seriously, give me a break.

Yes we signed a contract and yes people should pay their bills when they're due; however, there is such a thing as "reasonable expectations" and "reasonable behavior" and Prestige isn't acting with either of those as considerations.

This is nothing but a short sighted customer hostile business practice that is definitely harming the bottom line of the company and the affiliated companies - the harm just can't be quantified, so they'll keep doing it.

Completely stupid and who ever came up with this operating procedure should be fired after he has "do not hire - idiot" tattooed on his forehead.

As a person with un-favorable credit I was very happy to be financed by prestige they put me in a new car, like I wanted the payment is not to high

Folks, remenber it's a freaking contract, you signed, dont forget. It's your sole responsibility not to DEFAULT

Just be thankful that you were able to drive off the lot with anything

KEYWORD: Pay On-Time

Special Thanks To: Prestige Financial in Utah

I have not had the problems with Prestige that this person has written. Of course you have to pay for a repossed vehicle!!! Prestige is the only company that would finance me after bankruptcy and I have found them very easy to work with.

I have a car loan with Presige Financial and have been more than happy with the service.

I am sure that if you paid your bill on time every month you also would be satisfied.

I know that if I loaned someone thousands of dollars I would also be on the phone every time that payment was not made on time as stated in the contract you signed.

This company is here to help establish credit to persons that need help in rebuilding credit and it is people that choose to continue not pay his or her bills that make it hard on the rest of us who do pay their bills on time.

Prestige has been nothing but cordial with my husband and I, and I know that I will choose them again.

I read these postings and I agree, people need to be more responsible. I am neither a customer or employee of Prestige and have never had any dealings with them. But one thing I do know is most of you ALREADY had bad credit for a reason. Maybe medical bills or other things out of our control contributed but the obligation you have to make your payments on time is the same EVERYWHERE. Quit blaming the mail system...quit blaming the company...quit blaming anyone but yourself if your payments are not there on time. The fact is, when you signed the contract, you agreed to get the payments to them by a certain date. It is YOUR responsibility to ensure that the payments are there on time. Take it from someone with good credit and a little bit of knowledge regarding credit policy...be it from bat weather, a hurricane, the mail service, it doesn't matter. It is still YOUR responsibility to pay them. If you lent someone thousands of dollars, you would probably expect the same.

Well .. as I had a loan threw them I am honestly say I would accept another loan from them. Yes I was late a time or 2 with my payment .. yes they called me however they are great to work with ... The only down fall that I had with them was I was upside down in the loan on my Blazer....

We really needed a SUV .. and they where the only place that would work with us do to our credit (Divorce, medical bills etc.) ...

There was a time when we had to change our due date to the end of the month rather than the beginning do to the house payment conflict ... they where more than happy to change the date for us ... not once did they act like bill collectors ... they where always happy to help ...

But you have to remember you did sign a contract with them .. you should keep your obligation and make your payments on time! ... if you do .. than they will not have to call you when the payment is due. if you dont .. than they are going to be like any other place that you owe money to ... and call you asking you to keep your promise ...

As far as I am concerned ... you have nowhere to complain about this issue ... hospital or not .. you have bills that need attending to ... and why could your husband not make the payment .. or was he in the hospital too ...

I really enjoyed reading that rebuttal. It was obviously drafted and approved by Prestige Management and submitted to Ripoffreport. "Follow your contract!" the writer wisely informs. Hah! I can think of no other business which admonishes abuse and harassment the way Prestige Financial does, unless we're talking about the Mob or the IRS. Because that's essentially what "Prestige" Financial employs, thuggish, ruthless collection tactics.

I also have a loan through Prestige Financial and let me tell you I have been PLAGUED by a number of their collectors. I receive a phone call EVERY month the day my payment is due. Of course, I have usually mailed off the payment 5-6 days prior to my due date, but that doesn't matter because I personally CAN'T control the mail system, I cannot help it the payment arrives to Prestige the day of or the day after it was due. The irony of this entire fucked up situation is I have tried to change my due date to accomodate my pay schedule at my job. My account "manager" is unwilling to budge. I have tried other methods of payment, but Prestige greedily assesses absorbent fees to run a credit card(20 dollars! Holy Smokes!)or a check over the telephone. So I am basically stuck between a rock and a hard place.

Back to my loan counselor, I dread the inevitable monthly phone call from Prestige because I KNOW I will be adressed with ignorance and impudence. Since the day I acquired this loan I have been dealt with very unproffesionally. A total lack of respect or dignity. I have repeatedly spoken to managers( "Team Leaders" I think they're called) to no avail. Gauranteed the next month the same fiasco is repeated. My wife has told these thugs to stop calling yet they continue to still call. Isn't that a violation of the FDCPA?

I don't have the resources or the time to pursue a lawsuit against Prestige, and even if I did, no attorney would dare go up against Larry H Miller and his entourage of corporate thugs. I FULLY intend to refinance my vehicle though another bank as soon as my credit is re-established but until then I guess I have no choice but to continue the incessant sodomy by Prestige Financial.

I had a loan through Prestige Financial. I can tell you that I did not have any of the problems that you experienced, the reason being is that I followed my contract.

The contracts state that there is no "grace period" your payments are due on the due date or before. One day delinquent means you have defaulted on your contract. You signed up for that, you did not follow it. Of course they are going to call by 10am if you did not send your payment. Once I forgot, they called and I got the payment to them that day AS I WAS SUPPOSED TO.

I had to rebuild my credit, I changed my lifestyle. Your attitude that you are upset that they call you when you are late is why you have bad credit and why you had to go to Prestige in the first place. You signed a contract to pay back the entire loan. When you hand the car in the loan does not go away.

Prestige only wanted you to do what you said you would. Follow the contract you signed. If you feel like they are mistreating you because they want you to do what you said you would, then you will never get out of the financial hole you are in.

People need to take responsibility for their own actions and not look to blame someone else. I used to do that, had to get a 27% interest rate loan on my car. I changed my habits, and now have a car loan at 2%. Anyone can do that, if they just change the way they pay their bills.

Thank You