ED Magedson – Founder
Wilshire Consumer Credit3440 Flair Drive El Monte, California USA
Wilshire Consumer Credit Misleading when you get loan interest rate is usury I did not know California allowed companys to charge 85% interest. I borrowed 2600 have been paying 227.00 for a year and owe 2750.00 how could this be. About six months ago i was behind almost two months and I sent double payment. They claimed they did not get the payment and repossessed my car. El Monte California
I had to pay $1100 plus to get it back I only owed to payments of 227.00 how does that add to 1100.00 could not do anything about it they had my car. My payments came back in mail they were money orders. The envelope was addressed to their p.o. box and it was returned. Another time same thing they threatened to repossess and i had sent one payment over internet with debit card I thought it would be fast next payment within few days sent by money order and they sent out the repo guy but my car wasnt there and I should him my reciepts of payment he said i had to pay the whole balance if he got my car. They call me at least 20 times a day when payment isnt even due yet. I have to continue to keep paying them until i have lump sum to pay them otherwise they try to repo my care which is a 2002 camry in very good condition I am sure they want car since they already have been paid what i borrowed plus and still have me owing more than i borrowed. I dont know what to do but this must be illegal i say class action suit need attorney. EVERYONE BEWARE IF ARE THINKING OF BORROWING FROM WILSHIRE CONSUMER CREDIT besides their shady practices they are the rudest people i have ever dealt withWilshire consumer credit is committing usury. They charge 85% interest. How do they get away with this I thought that was against the law. I borrowed 2600.00 have been paying 227.00 per month and still owe 2750.00 They have repoed my car when I got behind even though paymetns had been sent and they returned them as wrong address. Then they charged me over 1100.00 to get my car back and I only owed 2 payments that they sent back.
They tried to repo my car again after i had sent payments and i showed repo guy reciepts and my car wasn't there so he couldn't get it. I have been experiencing hard times so I have been late but never over a month and a half late. They call at least 20 times a day.
Need to file class action suit .
This report was posted on Ripoff Report on 06/23/2013 10:42 AM and is a permanent record located here: http://www.ripoffreport.com/r/Wilshire-Consumer-Credit/El-Monte-California-91731/Wilshire-Consumer-Credit-Misleading-when-you-get-loan-interest-rate-is-usury-I-did-not-kn-1061429. 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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