• Report: #1126154

Complaint Review: Monterey Financial Services

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  • Submitted: Mon, February 24, 2014
  • Updated: Mon, February 24, 2014

  • Reported By: HKF225 — Princeton Kentucky
Monterey Financial Services
4095 Avenida de la Plata Oceanside, California USA

Monterey Financial Services aka Monterey Collection Services Ridiculous Interest Rate, Fees, Refusing to Provide Information, Rude Representatives Oceanside California

*Author of original report: Seriously.

*General Comment: So...

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In March of 2012 we purchased a membership through Resorts Anytime, Inc aka Hilton Head Anytime for $1500. Since we were unable to pay that balance in full, they provided Monterey Financial Services as our loan servicer. We were given an interest rate of 9.5% which wasn't ridiculous considering it was a frivilous loan and they didn't run our credit.

We made a few payments before I became pregnant which lead to complications and was therefore unable to work. Instead of working with us on our payments, which we tried to do several times, they placed our account in their in-house collections department. At that time, completely unaware to us, our balance jumped from $1400 to $2,280 and began accruing additional interest fees along with a $20 per month "collection fee". Never at any time were we made privy to these added fees. 

A woman by the name of Melanie was assigned our account. She called several times a day, harrassing both my husband and I. She demanded monthly payments of $100 (our original payments were around $53). When I advised her we simply could not do that she belittled us and very rudely demanded that we ask our family for the money to pay the balance of the account. We are both adults and our parents do not pay our bills, especially a frivilous one such as this. Not to mention they are not in the financial position to do so if we asked. These calls continued from November 2013 and still occur today. As of January 2013 we were able to resume payments of $100 per month on this account. We have currently paid over $1200 to this company and still hold a balance of over $1700.

Today (2/24/14) I called and asked to settle the account out. Another representative told me I could not settle out and had to pay $1700+ if I wanted to take care of it. I advised her I was obviously unable to do that, but still want to make good on my agreement to pay the account, thus the settlement offer. I offered $400-500 as a settlement because of the previous amounts we had paid along with knowing they would probably give me a higher number. I asked her to explain the charges on my account, which she attempted to do, but whenever I had a question she would cut me off. I then asked to speak to a supervisor, which she refused to transfer me to. I hung up on her.

I called back, spoke with a different CSR and am currently awaiting a return call from a supervisor. This is aboslutely ridiculous. 

This report was posted on Ripoff Report on 02/24/2014 02:41 PM and is a permanent record located here: http://www.ripoffreport.com/r/Monterey-Financial-Services/Oceanside-California-92056/Monterey-Financial-Services-aka-Monterey-Collection-Services-Ridiculous-Interest-Rate-Fe-1126154. 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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Updates & Rebuttals

#1 Author of original report


AUTHOR: HKF225 - ()

Are you serious right now? First of all, settlements are offered on millions of accounts around the world each day, this situation should be no different from the others aside from the fact that this company refuses to work with their borrowers. The sum total of what I have paid already coupled with my settlement amount far exceeds my original loan amount. 

I am not a deadbeat, and it is completely ludicrious that you would call me as such, especially seeing as how you do not know my entire backstory. By attempting to make good on my account, I am in no way attempting to scam them out of any money.

Not to mention I was not read the "mini miranda warning" at anytime during my call. I guess I have another option to settle this account now.

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#2 General Comment


AUTHOR: Tyg - ()

 So where is the ripoff? You defaulted on a loan and its payments and have to pay fees. Just because you got pregenant is NO reason to welch on your financial obligations. Undertsandable to be between jobs, but it STILL wouldnt invalidate WHAT YOU OWED!! You signed a loan agreement and they wont let you "settle" for less then what you owe. Your only recourse is to finish paying them and then never do business with them again since you know they WANT you to pay back what you borrowed from them to pay for your frivilous loan.

What makes you think YOU deserve a modification. YOU are the deadbeat not them. If it went to collections then you were more then just a little behind. They send you to collections at the 3-4 month mark. This means you WILLINGLY withheld your payments to them for your PERSONAL issues. Business doesnt work that way. You signed a contract and when YOU are in breach of that contract, THEY are the bad guys for wanting back what you took from them.

Grow the hell up, I swear. Youre the ONLY scammer here and you should be ashamed of your deadbeat ways. YOU are a PRIME example of WHY businesses are no longer flexable and work with the customer. YOU scammed them by NOT making the payments you agreed to. YOU attempted to scam them and offered a lower settlement then you owe. Then you attempt to SCAM them again by using social blackmail. YOU make THEM out to be the bad guys when its YOU that is the deadbeat. Your parents must be SO PROUD of what they raised.

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