• Report: #1063786
Complaint Review:

Consumer Portfolio Services

  • Submitted: Tue, July 02, 2013
  • Updated: Tue, July 02, 2013

  • Reported By: Bella — 53205 Wisconsin
Consumer Portfolio Services
Internet USA

Consumer Portfolio Services AKA CPS Their interest for car loans is a ripoff - DO NOT FINANCE A CAR WITH THEM!!!! Internet 

*Author of original report: THESE SLIMEBALLS HAD TO FINAL PAY!! :-)

*Author of original report: NOT a "scam" a Tier Scheme either way you get screwed!

*Consumer Comment: This company is the worst!

*Author of original report: HERE IS A # TO REPORT CPS HARASSMENT

*Author of original report: I WISH

*Author of original report: CPS IS PAID OFF!!! :-)THEY CAN K*SS MY A$$

*Author of original report: ZERO F*CKS GIVEN JIM

*Author of original report: F*** YOU JIM

*Consumer Comment: You Weren't "ENTITLED" To Low Rates With Bad Credit

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Their interest is outrageous. My final payment was last month and I was advised that my interest was still $1018. However, I have been paying late fees with them since 2007, at $149.00 per month. I had to change my due date back then, because my rent was due on the 1st and so was my car payment, and they never allowed me to switch my date back. 

I haveno idea why I still owe $1018 on a car I have been pay for 7 years already. I will never finance through them again and I am telling everyone to never ever finance through them.

I learned a huge lesson, I should have refinanced this car years ago once my credit became better. The only reason I am paying the $1018 is because I dont want it to affect my now good credit.

I wish that I was just denied a car loan 7 years ago, and would have got a cosigner. :(

Also, their customer service is the worst, their collections is just rude, and they call you super early in the morning. Never again will I finance with them. Everytime I get off the phone with them I feel stressed, and they are not worth it.

Trust me, Ive dealt with their s**t for 7 years. Do not finance with this company! They have ripped me off to the max.

This report was posted on Ripoff Report on 07/02/2013 07:59 AM and is a permanent record located here: http://www.ripoffreport.com/reports/consumer-portfolio-services/internet/consumer-portfolio-services-aka-cps-their-interest-for-car-loans-is-a-ripoff-do-not-fin-1063786. 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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7Author 2Consumer 0Employee/Owner
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#1 Author of original report


AUTHOR: Bella - ()

CPS has been ordered to pay $5.5 Million!!!


Please see the link: 



Although I think this company should be shut down, this is a small win!!

So many customers including myself had been harrassed for YEARS!

They also STOLE additional money from a lot of us. In my case, I had an additional amount to pay off after my loan was paid off in interest. Unfortunately, I did not have the money to hire an Atty. or the time to sue them. So, I am happy that FTC stuck it to them for:

  • Misrepresenting fees consumers owed in collection calls, monthly statements, pay-off notices, and bankruptcy filings;
  • Making unsubstantiated claims about the amounts consumers  owed;
  • Improperly assessing and collecting fees or other amounts;
  • Unilaterally modifying contracts by, for example, increasing principal balances;
  • Failing to disclose financial effects of loan extensions;
  • Misrepresenting that consumers must use particular payment methods requiring service fees; and
  • Misrepresenting that the company audits verified consumer accounts balances.

as covered in the article from the link above.


I do believe we are owed more than the settlement is for, but a win is a win. The day they CLOSE will be great! Im sure they are REALLY being watched closely now. :-)

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#2 Author of original report

NOT a "scam" a Tier Scheme either way you get screwed!

AUTHOR: Bella - ()

Oh no the DMT army is going to come get me lol

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#3 Consumer Comment

This company is the worst!

AUTHOR: No Disrespect - ()

I totally agree. Put these people on blast for their unethetical practices. Tell everyone not to do business with them, I don't care what kind of credit score you have. DO NOT DO BUSINESS WITH THESE PEOPLE. I PROMISE YOU, YOU WILL REGRET IT. I am taking up a new hobbie, and it is to expose this company on every social net work that I can.  #deathtoCPS!

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#4 Author of original report


AUTHOR: Bella - ()

To report harassment by debt collectors, SUCH AS CPS contact the Deputy Director of Debt Collections at (202) 708-4766. If harassment continues, call the Policy Development Division of the Loan Branch of the Department of Education, (202) 708-8242.

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#5 Author of original report


AUTHOR: Bella - ()

I wish I would have sued them as well!! BEST OF LUCK!! I am sure it wont be hard to win, because they break sooooo many laws daily.

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#6 Author of original report


AUTHOR: Bella - ()

I FINALLY paid off my hunk of junk! LOL I started overpaying to knock it out..

The car is officially mine now, the next car loan.....I WILL DEFINITELY be asking if the finance company has ANY affiliation with Consumer Portfolio Services AND I will be leaving the deal on the table. 

Again, DO NOT FINANCE A CAR WITH CONSUMER PORTFOLIO SERVICES. It has been the worst contract I EVER signed in my adult life.

I had financed 1 car before this one AND the interest rate was actually very low and the loan was small (only took 2 years to pay off). I SHOULD HAVE just gotten another car through that loan financing company- Franklin Finance in the Midwest (THEY ARE GREAT UNLIKE CPS), BUT NO, I just had to have a nearly new car and I REALLY paid for it! LESSON LEARNED. I will never ever buy a near new car again. I will only buy 3 or 4 year old cars and purchase a warranty, if I can. I could have saved myself A LOT of headaches with CPS.


THANK YOU CONSUMER PORTFOLIO SERVICES for showing me how little I really need. Piece of mind and rest at night is worth more than having a near new car. I NEED FREEDOM. I NEED TO SLEEP. I NEED PEACE. I NEEDed CPS OFF MY LINE. lol. 


The interest I spent with CPS I could have bought at least 3 cheapy used cars....I made a HUGE mistake and thats why Like I said, I am going back to buying an older (nice looking) used car every 2 years!!! 


I have also moved out of state now that I have CPS off my A$$


Life has gotten so much better with little responsibility and much better credit. TAKE My advise people, FREE YOURSELF from these companies that keep you in debt and suck the LIFE OUT OF YOU. THEY are NOT helping you. And these car finance companies are the worst, because if you were like me, you had a NEED to purchase a vehicle to get to work etc.

Unlike JIM, I dont talk big sh*t about people in debt. There are many many reasons why people fall on hard times!!! It can HAPPEN to anyone.


I'd now shovel sh* for plain ole happiness.


Stay strong all of you who still owe them. Pay them off and TELL EVERYONE YOU KNOW not to go with them.


I am going to dance on a CPS grave once they go out of business!!! 

I will surely eat a FAT cake with Jim's name on it too!! hehehehe LOL


~~~~~~~~~~~~~~~~~~IM FREE!!!!!!!~~~~~~~~~~~~~~~~~~~~


Take Care.

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#7 Author of original report


AUTHOR: Bella - ()

I really don't give a F*CK what you say Jim.LOL. SO. I WIN.....YOU LOSE.

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#8 Author of original report


AUTHOR: Bella - ()

You work for Consumer Portfolio Services......LOSER. You are a pathetic motherf**ker...bottomfeeder. YOUR JOB SUCKS.  You dont know my situation or anyone elses. You dont know WHY we financed cars with these people. I went to a DEALER dumb a** and this was the finance company they worked with. That same dealership has caught a lot of s**t due to CONSUMER PORTFOLIO SERVICES. There are too many complaints on them....we win JIM YOU LOSE. A**HOLE. 


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#9 Consumer Comment

You Weren't "ENTITLED" To Low Rates With Bad Credit

AUTHOR: Jim - ()

YOU destroyed YOUR credit prior to getting the car financed.  As such, YOU didn't qualify for a low interest bank loan.  Then while into this loan, incredibly you continue to make late payments.  When you make late payments, you generate late fees and extra interest.  So avoid ANY creditor if you can't or won't live up to the contract. 

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