• Report: #275355

Complaint Review: Wilshire Credit Corp

  • Submitted: Wed, September 19, 2007
  • Updated: Sat, October 18, 2008

  • Reported By:Carnation Washington
Wilshire Credit Corp
Carnation, Washington U.S.A.

Wilshire Credit Corp collection agency tactics or fraudulent behavior or both? Portland Oregon

*Consumer Comment: Wilshire Credit guilty of RESPA Violations and Predatory Lending Violations

*Author of original report: lol, notice none of Wilshires employees are attempting to rebuttal my post

*Author of original report: See my updated report

*Consumer Comment: I want in on class action lawsuit.....I NEED to be in!

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Refinance; get the hell away from their strong arm tactics to foreclose your homes. I lost 20,000 getting way from them, but I still have my home.
Wilshire wrongfully reported my loan balances to the credit burro
Wilshire forced flood insurance in an area that is not considered a flood zone, but does border a flood zone.
I faxed them proof several times that I my local insurance company was providing me with flood insurance and I was still being billed by Wilshire, in the state of Washington it is illegal to charge a home owner twice for hazard insurance, but yet is was done. I refused to pay and my credit score paid. They started reported I owed more then I barrowed and started reported late payments because I was not paying that part of the monthly bill. PEOPLE CHECK YOUR CREDIT SCORES AND SEE IF YOU ARE BEING SCAMMED. I had an interest only ARM loan so it looked like I owed more then I barrowed. If I would have waited the 2 years, to avoid prepayment penalty points, to refinance my credit score would have been so low I would not have been able to get out from under their clutches and for sure would have lost my home to them.
While fighting the forced flood insurance billing I went to their website to make a payment and their system would not except a minimum payment of just the house payment without the forced flood insurance part of the bill, so I had to wait until Monday to call and make the payment by that time I was past the grace period and was charged a late fee and reported 30 days late to the credit burro. I was not even 30 days late and was still reported as such.
Wilshire primary role is Collections Agency, they bought high risk loans just so they could use unethical tactics to help along the foreclosure process so that they could profit.
On my secondary loan, I was paying into equity but my credit report was showing I owed more then I barrowed, how is that when I was paying around $100 on the principle?
On my 2 loans when I did refinance there was an additional $7,000 worth of charges that were never explained, but if I would have contested it I would have blown my window to refinance out of their s**t.
Once I refinanced out from under them my credit score went from 550 to 720. Hmmm. At the time I started the refinance process I was at 630 and falling. So if I would have contested the payoff balances I would have lost the opportunity to get out from under their questionable tactics.
I did post comments on (((ROR REDACTED)))
And there was supposed to be a class action law suit forming, but the site is down and I have not heard a word on any legal action against Wilshire and there should be!
In closing Wilshire is using collection agency tactics to force high risk barrowers in foreclosure for profit
Rhett Attwood

Rhett
Carnation, Washington
U.S.A.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

This report was posted on Ripoff Report on 09/19/2007 01:53 PM and is a permanent record located here: http://www.ripoffreport.com/r/Wilshire-Credit-Corp/Carnation-Washington-98014/Wilshire-Credit-Corp-collection-agency-tactics-or-fraudulent-behavior-or-both-Portland-Or-275355. 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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#1 Consumer Comment

Wilshire Credit guilty of RESPA Violations and Predatory Lending Violations

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

It is painfully obvious of the violations racked up against Wilshire Credit. They continue to keep adding up. They are a mortgage servicer only NOT the mortgage lender. However, good luck if you think they will tell you who your lender is. They will not. They will try and in many instances succeed in putting you and others into negative amortization. That is illegal. Doing that gives the stockholders who probably own a piece of your house, the money back they lost and keep losing daily.

Wilshire has to be put down for what they are illegally and irresponsibly doing to homeowners. I know this company well and these guys are bad people doing some bad things. With the violations they have racked up against them they will paying homeowners and the federal government monies for eternity for their federal violations and crimes against humanity. The feds just need to move in on them and shut them down soon because these people are getting worse each and every day. Each day these people are open for business someone gets thrown out of their home. They are stealing from homeowners in order to pay back their investors/stockholders who lost so much money in the stock market. This means that if you have a home and they are servicing your loan you are paying twice for the federal bailout!!
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#2 Author of original report

lol, notice none of Wilshires employees are attempting to rebuttal my post

AUTHOR: Rhett attwood - (U.S.A.)

lol

notice none of Wilshires employees are attempting to rebuttal my post

I have 2 posts, one since 9-30-2007 a year ago and no comments from Wilshire's employees. like they respond to so many other post on this site.

you would think with my statements, if they were not valid, they would confront me.

EVERYONE THERE IS A CLASS ACTION LAW SUIT IN PROCESS AGENST WILSHIRE.

So hang in there everyone they will get what is coming to them

Rhett
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#3 Author of original report

See my updated report

AUTHOR: Rhett attwood - (U.S.A.)

See my updated report, better details on how i was frauded
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#4 Consumer Comment

I want in on class action lawsuit.....I NEED to be in!

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

I have been there, done that again and again with Wilshire....even my lawyers are stunned by their (WCC) ''ways'' of doing business.
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