Report: #872934

Complaint Review: westlake financial services

  • Submitted: Tue, April 24, 2012
  • Updated: Thu, April 26, 2012
  • Reported By: lex — columbus Ohio United States of America
  • westlake financial services
    p.o box 76809
    United States of America

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I had been under a 36month until  (January) 2012 contract with westlake financial, and they gave me 3 extensions, which was applied to the end of the Loan until April, in which i was told, my account would be paid off "Done"   I  was then told, that i have to pay an additional $971.00 after i had already paid for the  extensions for the 3 months.  They are trying to carry me out to 42 months, and can't explain to me were the addational 3 payment are coming from.  This will make it 6 additional payments that were attached to the end of my loan, without my knowledge.  Today these reps have been "very rude" in regards to assisting me with this  Ball of Confusion. I was also told my "Pay off Date" means nothing, WHO TELLS YOU THAT!!  I very disappointed this company is trying to not correct it's mistake but have me pay more then what i owe.

This report was posted on Ripoff Report on 04/24/2012 07:39 AM 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

Deferments & Payments

AUTHOR: KB725 - ()

I have a vehicle financed with Westlake. My payments are 375.44 monthly. I get a statement each month that tells me what myu payment is and when it is due. On the occassions when i have made a payment larger than my required and agreed upon monthly, my next statement reflects such and instructs me that my payment is the same amount i previously overpaid, less? (EX. i pay 425.44 in January, February statement says i owe $325.44 instead of $375.44)

The don't appear to remove the over payments from the principal balance, as they should. The reduce if from the next payment due! This is also evidenced by not havin any extra amount reduced on the payoff amount.

CAn anyone, Jim, explain to me how this works? Does anyone remember Santander, formerly Drive Financial and the same practices that eventually ewnded up with a class action lawsuit against the lender?

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#2 UPDATE Employee

"We apologize for your negative experience"

AUTHOR: WestlakeCustomerService - ()

Thank you for sharing your feedback with Westlake Financial Services. We take all of our customers concerns seriously. We apologize for the negative experience you had with our company. We do not support this type of customer service, and we are working very hard to make sure that everyone is helped effectively and within a timely manner. If you have any questions about your account, please contact our customer service team at 888-739-9192.
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#3 Consumer Comment

Lol interest accrued

AUTHOR: Levi_196 - ()

What I know of deferments is that you pay the interest for the month you request the deferment. If you requested 3 deferments it will add those 3 payments + interest to the end of your contract, not 6 months worth of payments.
The end of contract will be extended by 3 months.............6 months to me sounds like a rip-off.

I have a friend who did business with this company through their "Titanium" program which is their prime accounts department ...........he'll never do business with them again and I'll heed his advice.
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#4 Consumer Comment

Jim again

AUTHOR: Fodus - ()

There's Jim again, standing up for a company AGAIN that he claims he doesn't work for....
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#5 Consumer Comment

Here's Why


The interest clock continues to run on the money not paid back by those defered payments. The total interest on the loan is computed on the basis of making every payment on time. When you defer payments they do not get the use of their money until later than computed. Therefore you will pay interest for using their money. Not making payments when due throws off all the interest computation. No rip off here.
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