Report: #390970

Complaint Review: Wilshire Credit Corp

  • Submitted: Thu, November 13, 2008
  • Updated: Mon, November 17, 2008
  • Reported By: Ashland Kentucky
  • Wilshire Credit Corp
    14523 5W Millikan Way Suite200
    Beaverton, Oregon

Wilshire Credit Corp These ruthless people ripped off my 82 year old father-in-law Beaverton Oregon

*Consumer Comment: Been There Done That & It Does Not Get Better

Show customers why they should trust your business over your competitors...

Three years ago, my father in law refinanced his home to help a family member financially. At first, the loan was made with Countrywide. A few months later, it was picked up by Wilshire. This is when the horrific adventure begins. My father in law passed away a year later, and my husband has been making the payments on his old family home. We noticed that the loan was 100% with a 11% interest rate.

This is when my husband called and asked if the interest loan could be lowered. He also(numerous of times) sent in the death certificate of his father and other papers deemed necessary in order to try to get a loan reduction. Of course, it all depends on what representative whom you are speaking to; each has a different story.

Like all the other reports I have read about this company, they continually lose your paperwork; therefore, my husband would have to fax the papers again and again. We noticed the loan was never the same amount and we questioned that. We were told it was a flexible rate and one knows that can be adjusted whenever the company feels the need. This company also suggested that perhaps we should do a loan modification. This would lower the interest rate, thus reducing the payment. We called my father in laws lawyer who said that it would be fine and since my husband was the EOE, he could do this. This was in August. Now we call know that payments stop when the loan modification is being considered.

As of last week, we received a call from Wilshire saying that they could not give us the modification because my later father in law would be the only one who could do this. Excuse me; his dead. We also discovered that the loan was through US Bank. So called them. They have been investigating for several days now and we were told that they had no record of such an account. We certainly were served papers and this bank was the one suing us. US Bank is trying to find out information about Wilshire. We also went to the court house and it was noted that US Bank was the underwriting trustee. Believe me Wilshire is one incompetent and corrupt orgainization. I have been reading the various reports from Americans all over the country, and the stories are similiar.

I also contacted the Oregon Attorney reporting the antics of Wilshire. We are now in jeopardy of losing my husband's home place. I am only thankful that my own home is not mortgaged through them. We were told by a Wilshire representative that they didn't care the lose the property; they just didn't want to work with us. I believe it's now time to work together and take some legal action.

I also have contacted my local officials, so they can be aware of what is going on. Really, this is just a sampling of what all they have said and done to us. I have a thick file on them. Let's work together!!!

Ashland, Kentucky
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This report was posted on Ripoff Report on 11/13/2008 03:08 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

Been There Done That & It Does Not Get Better

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

This is not the "antics" of Wilshire but the extremely questionable activities of Wilshire. They continually lose papers which makes one wonder what are they doing with all that very personal information that contains your bank account numbers, your tax returns, your credit card numbers, your bank statements and your tax returns. Are they in "limbo" somewhere or being sold to another company? After all Wilshire is a credit and collection agency. My husband and I have fought them and their "business activities" for the last eight months and believe me when I say it will not get better. Even if you sign a modification be careful because it will have to be changed a half dozen or so times. This is an incompotent company ill prepared to play with the big boys. All they are concerned about is how much they can get out of you and everyone else at this time because they are trying to desperately collect on enough monies to pay all the investors back who lost big time in the stock market. Since they are a trustee for a trustee I question the legalities of the many things they are doing to people. Stay angry. Keep fighting. Do not let them get you down (as they try real hard to do). Show them you are smarter than they are by knowing what you are going for and not stopping. Watch and catch them at wrongs because they fun rampant with RESPA and FDCPA violations. Do not give up!! If and when you give up, they win!!
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