Consumer Portfolio Services Consumer Portolio Services F+ Rating irvine California

For those of you (or us) who found "Robert's" comments less than genuine/helpful.....

This company was fined $5.5 million by the Federal Trade Commision May 2014 for abusive (and blatantly illegal) collection tactics in violation of the Fair Debt Collection Practices Act

http://www.consumerportfolio.com/PDF/Fully%20Executed%20and%20Stamped%20Consent%20Order.pdf

I was a certified credit counselor for many years and although I knew that there were unethical companies out there I generally only heard about rouge employees for collection agencies going this far out of bounds-  I was surprised (and very dismayed) to find out that an original creditor was allowing and even sanctioning this level of abuse-

I'm dismayed because I found this report after my car salesman secured funding for my recent car loan on my behalf with this company-   it will be interesting to see if the FTC action will have created a measurable difference over the last 4 months (although sad to report that there is still no online payment option available apart from the $12 Western Union service)

Good luck to us all

 As usual Robert you defend this snake oil sales company even in the face of facts. 

I did exactly what you said people don't do and too CPS to court after an unpaid principal balance of $758 suddenly appeared on my account once the whole 4 year agreement had been fulfilled.  Now before you come out with your usual "well you should have paid on time" answer, over those four years I missed one payment date by two days and had it in writing that they would not be adding any extra charges as it was the first payment that was late in over two years.  After that I never missed or was late on a payment again.

So how come when I asked for the title to my vehicle could there suddenly be an unpaid principal balance at all?

According to CPS at the time it was due to them not receiving my last four payments which thankfully I had documentary proof of.  So instead of arguing further I found an attorney who was willing to take the case on contingency and we went to court.  CPS never showed up to defend the lawsuit and I got $1500 damages plus my attorney got all his costs back too.

 So my dear company troll please try to explain why if CPS are an ethical and competent company they first tried to deny receiving payments and then when taken to court never showed up to defend it.  My opinion is that they didn't want people to see how dishonest they are in their dealings and by not defending the lawsuit and just paying out plus having to release my title hoped that no-one would see how dishonest they were!

Unfortunately there are places like this where people can tell the truth and let others see it without the fear of it being censored. 

Finally if you would like to see proof I'll be more than willing to scan and post the full judgement on here if that's allowed.

To report harassment by debt collectors, 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

This should help a little :) I did not find this number until AFTER I paid them off. 

You are suffering from flawed logic...you stated the following things..

CPS has created a past due amount by claiming they had never received a payment. Its an intentional ploy to get the full amount rather than continue with the loan.

and

 abuse and how to effectively persuade the consumer to pay more in interest and the worth of the car.

- If their entire purpose is to get as much interest as possible out of the consumer.  Why would they "loose" a payement and force the consumer to pay off the loan..effectivly ending any additional interest they would pay?

Oh I am sure you have 1001 theories as to why this happens, and of course  I bet none of those involve the fact that this company deals with SUB-PRIME borrowers who have not proven they can handle credit in the first place.  Who probably think that they can dictate the terms of the loan after they agreed to it.

But let's look at the rest.  Perhaps this company has "eluded" all of these people because they are not doing anything illegal. 

But if they are doing things such as invalid reporting.  If you have proof of your payment was on-time(I.E. cancelled check) and they report you late.  By law you are allowed to have it corrected.  If you follow the proper procedure and they do not correct it you have the right to sue them.  You don't need any government agency to do this..you can do this in Small Claims Court.  Just look up "Fair Credit Reporting Act" and you will find everything you need to know.

Oh and as for their F+ rating.  If you actually read about the BBB and understood their position you would realize that the real scam may actually be the BBB.  If you want to read more..just search for things such as "BBB Pay for Play".