- Report: #1095506
Report - Rebuttal - Arbitrate
Complaint Review: Wilshire Consumer Credit
Wilshire Consumer Credit4751 Wilshire Blvd., Suite 100 Los Angeles, California USA
Wilshire Consumer Credit dba Westlake Financial Loanshark Behavior - Title Loan - Repossessed Car When No Money Due! Los Angeles California
8/26/2013 - I had family emergency and took a title loan with Wilshire Consumer Credit (WCC) in the amount of $5,000.00 against my car that was paid off and worth at least 10K. I received my check on 8/27/2013. I never received anything from WCC in writing, payment coupons, etc.
9/24/2013 - I received a "welcome call" from WCC from a representative named "Lola", asking me if I wanted to make a payment early and how I was going to make a payment. I asked Lola to make sure I got my first statement and told WCC I would be mailing my first payment. Lola told me my first payment was due 9/26/2013. I checked the mail everyday but never received anything from WCC.
10/1/2013 - I tried to log into WCC's website but without my "account number" the computer system would not allow me access to the system to make any payments.
Friday 10/4/2013 - I called WCC and asked for my loan number. A representative told me the information and in a recorded call stated that I could simply mail my payment US Mail and that I was in good standing and fine. She also indicated she would mail out a "welcome packet" since I had still not received one.
Monday 10/7/2013 - I received in the mail a courtesy reminder that my payment was due.
Tuesday 10/8/2013 - I immediately mailed my payment to WCC as agreed from my office, with my employer's postage meter so it was date stamped.
Thursday, 10/10/2013 - I received a voicemail from WCC from "Joseph" asking for a return call. I attempted to return his call but spoke with a different representative who disconnected me when trying to transfer me to Joseph. I tried to call back but they disconnected me again!
Friday 10/11/2013 - I received a voicemail from WCC asking for a return call. I contacted WCC and was told I needed to cancel my check I mailed, that they had not received it, and that if I didn't make a payment by "tomorrow" (Saturday) my car could be taken from me. During the call, I was disconnected. I tried to call back but was disconnected. WCC even calls me and leaves me a voicemail saying they were sorry I got disconnected.
Saturday 10/12/2013 - I call WCC and speak with Jessica who tells me they are technically closed and, for some reason, they opened a repossession file on my vehicle on Friday! I get transferred to a supervisor who tells me that even if I make a payment there was no way for her to get in touch with the towing company until Monday.
Monday 10/14/2013 - I come out the door for work and my car is GONE from my driveway. By the time I get to work, my bank confirms that WCC presented my check for payment today. This means they had it on Friday, October 11, 2013, and still repossessed my vehicle. I write a formal written demand to their legal counsel, Jack Cohen, Esq., at Westlake Financial (parent company). When I go home, in the mail is my very first official "statement" from WCC showing my October payment due on 10/26/13. PS Today is a HOLIDAY. I call WCC and attempt to speak with my account manager (they told me to do that on Saturday). I do finally speak with "Joseph" who tells me I have had plenty of time to "rectify" my situation and now I will owe repossession fees! He puts me on hold to calculate the fees and to tell me where my vehicle is and, I GOT DISCONNECTED!!!! I do a "google search" for Westlake and WCC and realize I have really made a HUGE MISTAKE doing any business with this company and that these types of loans are actually ILLEGAL in 33 states because of the resemblance they have to loansharking.
Tuesday 10/15/2013 - I go online and make my October 26, 2013 payment. I hear nothing from WCC.
Wednesday 10/16/2013 - Cecilia Park, (firstname.lastname@example.org) Quality Assurance & Compliance Specialist writes to me via email and tells me they acted pursuant to contract.
Thursday, 10/17/2013 - I start looking for legal representation to help me with this awful situation. I also respond to Ms. Park's letter stating that I am a brand new customer, have no negative history, no late payments, and no documentation. I demand return of my vehicle immediately. Ms. Park responds that WCC will allow me to retrieve my vehicle and pay no money but that I can be allowed to repay any fees over the life of my loan with WCC. She doesn't tell me where my vehicle is, or authorize release until after the tow yard is closed for the day.
Friday 10/18/13 - I take an entire day off work, travel to police department to get release, then get a ride all the way to other side of town to tow yard to pick up my vehicle. I IMMEDIATELY drive my vehicle to a dealership, trade it in on a new car. We go online to WCC to request my loan pay off and it is $4500.
10/18-10/29/13 - The dealership attempts to get WCC to release title to the car and now WCC wants $1,000 extra for repo fees, storage fees, and other fees. They demand over $5,600 or they will not release the title to the dealership. The dealership now wants me to bring $1,000 down to fix the problem. In addition, Cecilia Park tells me that I can just refer to my contract for fees and that my pay off is, indeed $5,600!
I was a brand new customer and they repossessed my vehicle within 14 days of my payment date, when they did not do as promised, and made it virtually impossible for me to make a payment. I am told by the attorneys I have spoken with that they do this on purpose, because they are looking to take your car (that is how they make money).
In addition, in the contract is an arbitration clause which means you agree to litigate any dispute with the arbitration association which means you deny your right to a trial. There are several consumer law firms that want to help, but this makes it difficult to prosecute these loan sharks. I am gainfully employed, pay my bills, it doesn't matter, they only care about making money off consumers. They could have sold my car and, I am told, kept the overage, too, which means they could have made $5,000!
This report was posted on Ripoff Report on 10/29/2013 03:23 PM and is a permanent record located here: http://www.ripoffreport.com/r/Wilshire-Consumer-Credit/Los-Angeles-California-90010/Wilshire-Consumer-Credit-dba-Westlake-Financial-Loanshark-Behavior-Title-Loan-Reposse-1095506. 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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