• Report: #81785

Complaint Review: WFS Financial

  • Submitted: Wed, February 25, 2004
  • Updated: Fri, October 28, 2005

  • Reported By:caldwell Idaho
WFS Financial
www.wfsfinancial.com Santa Ana, California U.S.A.

WFS Financial Principal payment does not add up to maturity date Santa Ana California

*Consumer Suggestion: To Bonny

*Consumer Comment: Wfs needs to be investigated by the Goverment

*Consumer Comment: Problems happen

*UPDATE EX-employee responds: You deferred 3 payments

*Consumer Suggestion: Simple Interest Loan, You can't really place the blam on a finance company

*Consumer Suggestion: Simple Interest Loan, You can't really place the blam on a finance company

*Consumer Suggestion: Simple Interest Loan, You can't really place the blam on a finance company

*Consumer Suggestion: Simple Interest Loan, You can't really place the blam on a finance company

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I needed a car and settled for WFS, even though they stabbed with a high interest rate. I had bad just claimed bankruptcy so I agrred. They said I could refinance after a year if I made my payments on time. I kept up my end of the bargain, however they did not.

This upset me, but I was still fine. Now in November of this year, my loan is to be paid off. I look at my payoff amount and it is way off of target! Not by a little, but by about $1500! I have asked three different reps about it and they all give me a different answer. One guy said it would all equal out in the end and not to worry about it. Another really didn't do anything except run around with it. The last lady just told me that it was because I deferred three payments and it put them all due at the original maturity date. This is contradictory to my papers. My loans original maturity date was August 2004, but then I deferred 3 payments to make the date in November 2004. She said the extra money supposedly due by me is due on the maturity date, even the extra $1500 that I have no idea about.

Anna
caldwell, Idaho
U.S.A.

This report was posted on Ripoff Report on 02/25/2004 10:05 AM and is a permanent record located here: http://www.ripoffreport.com/r/WFS-Financial/Santa-Ana-California/WFS-Financial-Principal-payment-does-not-add-up-to-maturity-date-Santa-Ana-California-81785. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 8Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion

To Bonny

AUTHOR: Weird - (U.S.A.)

Hey Grandma,

why don't you tell us your story? Are you past due on your car payments?
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#2 Consumer Comment

Wfs needs to be investigated by the Goverment

AUTHOR: Bonny - (U.S.A.)

W F S is corrupt and needs to be treated like the mob.The goverment needs to close them down for good. W F S has done rotton things to many people and needs to be brought into a court of law and face charges of harrassment and cheating, people out of money. You buy at one price 3 or 4 days later they up the price make all kinds of threats and you sign out of fear They do not record payments as they should and use mob guys to come after the car.They dont care if you are 18 or 80 they treat you like dirt. they call many many times of day ,and nights all day every day harrassing When the class action law suit comes against them I will be frist in line for the almost 4 years of hell they put my husband and I thur . Grandma In Nev.
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#3 Consumer Comment

Problems happen

AUTHOR: Janet - (U.S.A.)

I was reading this report and "Anna" made a mistake on her loan with respect to not fully understanding a simple interest type loan. However, I feel that the last comment posted by "Michelle" was very rude to say the least! To say that "Anna" has some serious financial problems is just way out of line. Consider yourself lucky if you have never suffered financial problems. Until you are in her position, don't criticize.
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#4 UPDATE EX-employee responds

You deferred 3 payments

AUTHOR: Michelle - (U.S.A.)

The customer defered 3 payments. Which means she has added those 3 payments to the end of her loan. She didn't extend her loan term, so those 3 payments that she defered should be paid by the maturity date. Some lenders consider this a balloon payment.
This customer probably purchased the vehicle from a dealership. WFS Financial just happend to pick up the loan. She was just out of a bankruptcy which means she was a high risk customer. That is why she got such a high rate The dealership probably told her she can refianance not WFS. Most lenders do not refinance their own deals but unlike WFS Financial they do only on quailfied applicants.
This customer had a bankruptcy discharged and was still not able to make her payments on time. This lady has some serious financial problems and should have learned from her mistake.
I know from my own personal experience that WFS is a great lender. I have never had any problems with them and I have had 2 loan through them. If you make your payments on time like you agree to you when you sign the dotted line than you won't have any problems
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#5 Consumer Suggestion

Simple Interest Loan, You can't really place the blam on a finance company

AUTHOR: Cindy - (U.S.A.)

I believe you have a simple interest loan and if you had 3 deferments (skip a payment 3 times) then interest will add up. With a high interest rate this is clearly possible.

The interest rate varies and depends on many factors. Credit ETC. You can't really place the blam on a finance company when you are charged a really high interest rate.

I am curious did WFS say you can refinance after a year, or did the dealership tell you this? Usually a finance company will not just "refinance" you. You must submit an application and it will depend on your credit weather on not you will be refinanced.

A friend of mine had some problems with a WFS employee and she made a complaint through the BBB, they gave her a corporate office number of 877.250.2265 and from what I hear she was somewhat in agreement with the situation. She was helped at least.

Hope everything turns out good for you.
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#6 Consumer Suggestion

Simple Interest Loan, You can't really place the blam on a finance company

AUTHOR: Cindy - (U.S.A.)

I believe you have a simple interest loan and if you had 3 deferments (skip a payment 3 times) then interest will add up. With a high interest rate this is clearly possible.

The interest rate varies and depends on many factors. Credit ETC. You can't really place the blam on a finance company when you are charged a really high interest rate.

I am curious did WFS say you can refinance after a year, or did the dealership tell you this? Usually a finance company will not just "refinance" you. You must submit an application and it will depend on your credit weather on not you will be refinanced.

A friend of mine had some problems with a WFS employee and she made a complaint through the BBB, they gave her a corporate office number of 877.250.2265 and from what I hear she was somewhat in agreement with the situation. She was helped at least.

Hope everything turns out good for you.
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#7 Consumer Suggestion

Simple Interest Loan, You can't really place the blam on a finance company

AUTHOR: Cindy - (U.S.A.)

I believe you have a simple interest loan and if you had 3 deferments (skip a payment 3 times) then interest will add up. With a high interest rate this is clearly possible.

The interest rate varies and depends on many factors. Credit ETC. You can't really place the blam on a finance company when you are charged a really high interest rate.

I am curious did WFS say you can refinance after a year, or did the dealership tell you this? Usually a finance company will not just "refinance" you. You must submit an application and it will depend on your credit weather on not you will be refinanced.

A friend of mine had some problems with a WFS employee and she made a complaint through the BBB, they gave her a corporate office number of 877.250.2265 and from what I hear she was somewhat in agreement with the situation. She was helped at least.

Hope everything turns out good for you.
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#8 Consumer Suggestion

Simple Interest Loan, You can't really place the blam on a finance company

AUTHOR: Cindy - (U.S.A.)

I believe you have a simple interest loan and if you had 3 deferments (skip a payment 3 times) then interest will add up. With a high interest rate this is clearly possible.

The interest rate varies and depends on many factors. Credit ETC. You can't really place the blam on a finance company when you are charged a really high interest rate.

I am curious did WFS say you can refinance after a year, or did the dealership tell you this? Usually a finance company will not just "refinance" you. You must submit an application and it will depend on your credit weather on not you will be refinanced.

A friend of mine had some problems with a WFS employee and she made a complaint through the BBB, they gave her a corporate office number of 877.250.2265 and from what I hear she was somewhat in agreement with the situation. She was helped at least.

Hope everything turns out good for you.
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