I always made my payments and never let it get more then 1 month behind. We promise not to send you any unrelated messages, Click here if youd like to unsubscribe from notifications about new complaints of Consumer Portfolio Services, im not just happy with the service off consumer portfolio services. date for next payment will change from 7/28 to 8/1 representative J. Pulled over didn't see any thing stuck under the bottom. Since it was the weekend and Smith would be off untill Monday, April 1st.,he decided to get his work done before the weekend. I've been hiding the car bcs im worried they reallywill take it. They have called my job several times and give my personal information to the secretary. herein, Kentucky Can you pay Consumer Portfolio Services with a credit card? Now granted thats not their fault but also I feel that to charge someone per day continuously for something that already had the payoff set up until the 17th which it shows that the actual letter was dropped off in the mailbox on the 17th. AND THE MANAGERS ARE JUST AS RUDE AS THE EMPLOYEES I DONT KNOW WHAT KIND OF COMPANY THAT THEY ARE RUNNING BUT THEY ARE NOT PROFESSIONALS AT ALL. Consumer Portfolio Services has an overall rating of 4.0 out of 5, based on over 115 reviews left anonymously by employees. The Lemberg Law legal team is committed to holding debt collectors accountable, so complete our form for a FREE case evaluation, or call 844-685-9200. while i was on medical leave, even after i notified them to let them know i will be on medical leave.they were still calling my job telling my boss i need to pay on my truck and before going on leave i fell behind on payments, due to me missing days off from work.They told my boss that they will come and get my truck. Resolved "Bad Business Practices" Resolved "Loans and Repossession" Resolved "Worst lender there is" Resolved "Customer Service Reps" Resolved "Harrassing phone calls and repo man knockin.". Consumers are protected from abusive debt collectors from the Fair Debt Collection Practices Act (FDCPA). A grace period is a period after the deadline for a financial obligation where a late fee is waived if the financial obligation is satisfied within that period. Zacks Equity Research. is currently the company's largest shareholder with 25% of . YOU NEED TO STAY CALM AND THINK *** LEGALY*** YOUR PAYMENT CAN NOT SKIP A MONTH, WHAT YOU ARE ASKING FOR, WOULD VIOLATE YOUR CONTRACT. According to its website, CPS works with thousands of franchised dealers nationwide to make vehicle ownership possible for everyone. CPSis committed to bringing dealers the most competitive subprime programs and financing options available. The dealers CPS works have access to its knowledgeable marketing representatives in the field that are skilled in executing all aspects of subprime financefor maximizing profit and fast funding. For car buyers, CPS, through its direct to consumer division New Roads Auto Loans (New Roads), specializes in giving auto loans to people with credit problems.. This is the rudest company ever. If youve been harassed by debt collectors and even one of these has happened to you, we can help. For more than 15 years we have helped nearly 50000 customers resolve their issues and will never stop striving to ensure further improvements on our platform for a better communication between companies and customers. A balloon payment is a larger-than-usual one-time payment at the end of the loan term. By way of instance, the debt collector must identify himself or herself, who theyre working for, and what debt theyre collecting. Our operational headquarters are located in Irvine, California and we have four additional strategically located servicing branches in Nevada, Virginia, Florida and Illinois. Plans will not be subject to prompt pay interest/fines for claims pended during days 31-90 of the grace period. Hiring qualified candidates. Repossession is bad but I have two cars and CPS customer service sucks so they can have their car back. Consumer Portfolio Services is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes or limited credit histories. The FDCPA claims that debt collectors cant use any deceptive or misleading representation, like implying the debt is secured by the USA or any particular state. The grace period is a window of time during which a . My ex has been making small payments when he can and has reduced the balance to apprx 5800, but they still refuse to change our credit report to the correct info. Something needs to be done about this company and their harassment. With credit cards, for example, a grace period is the time between the end of a billing cycle and the date your payment is due. The point is that the rep called customer back with threat. The most common ethnicity at Consumer Portfolio Services is White (54%), followed by Hispanic or Latino (24%) and Black or African American (11%). I wouldnt recommend them even if I got paid. This company should not be in business from all the research I have done on them I am not the only one who has suffered this way! Home / FAQs / How to save thousands on your Consumer Portfolio Services auto loan, Nicholas Hinrichsen - Published: January 15, 2023, How to save thousands on your Consumer Portfolio Services auto loan, You can lower your monthly payments on your Consumer Portfolio Services auto loan and save. He indicated that the account status should be reported as Repossessed-Closed and that CPS is purposely decreasing his credit score., In August 2017, a complainant alleged that when he fell behind on his car payments due to unemployment, CPS called him 5-6 times a day and were very rude and threatening. He indicated that he had to hang up the phone because one Consumer Portfolio Services caller would not end the call unless the complainant gave him a checking account number. I pay them when I can, as often as I can, and always try to make payments before or on the due date. To make a long story short, in 2007 I moved to another state. Beyond that, to ensure that the training we . The lady actually asked me what do I do with all my money that my payment was late. Unfortunately, describing the acronym is pretty much where the simplicity associated with Visas CPS ends. CPS is licensed in every state in which we operate. You will be able to download a PDF. Founded Date 1991. Not hello or how you doing but a very rude female which started the conversation with Why are you paying off your truck. On 12/10/08 they called my house 3 times. Is Consumer Portfolio Services a collection agency? So I hung up and called right back while I was holding my other line had clicked it was the rep from CPS she called me back to retaliate some words were said by Ms. Brown the CPS representative a threat was made not sure what kind by that time I hung the phone up again. Waited weeks to get response an I find out today they are demanding $500 a month but will settle with $425 a month until paid in full its like $8000 they want the car was totaled out I havent had it since 2017 I cant afford $425 a month an have money to live off of how can these places do this ! Do not assume that you are entitled to any compensation as a result of the consumer complaints you have. I am a teacher and I am not allowed to take personal phone calls unless it is an emergency. They call me constantly at work and at home. Once that payment is made and all repayment terms have been met, the promissory note that is a record of the original debt is retired. Fixed Deposit Interest Rates by Different Banks. This morning my car was repossessed?? Here's a little something to perk you up. I continuously received phone calls from them harassing me and any of my contacts. These people are rentless! When I traded my vehicle in, CPS was the first to step up and take the new loan, they gave me a descent interest rate. Per the FDCPA we have told them numerous time to quit calling our place of employment phone and our cell phones, they refuse to do this and are breaking the law. Our common stock is traded on the NASDAQ National Market System under the ticker "CPSS. The interest rate is the amount a lender charges a borrower and is a percentage of the principalthe amount loaned. They embarrassed me as well. Do you want the payment or not? About CPS. I totally agree that this company has no business etiquette's. Credit card companies are not required to give a grace period. Misrepresentation is a violation of the FDCPA and could be reported as such. I was an idiot and surrendered my old car prior to the discharge of my BK7 back in 2015. But as long as you remain on your Ps and Qs you should be fine and it can ultimately help your credit in the long run. Consumer Portfolio Services Reviews. They said some pretty nasty things, belittle me and family still wouldn't come get car until I told them it was now uninsured, unregistered and sitting under tree and Hurricane was on the way. Within 2 months I suffered the loss of my father and was unable to work for several weeks. I will gladly give them the car back after almost 5 years of wear on it, but I will not give this company a single red cent more!! I let them know. Are you also a victim of the same company or person? Now in negotiations for the $12k. Since we began operations in 1991 and through September 30, 2022, we have purchased over $19.7 billion in contracts. If you are an eCommerce merchant who provides lodging, car rental, or passenger transport you should talk to your merchant representative about other available programs. Consider yourself warned. Consumer Portfolio Services has a false rating on a BBB report which has been generated by bogus individuals referred to BBB by CPS. You are receiving early morning or late night calls from debt collectors. I have told them several times to come and get the car, they always threaten they are going to do that but never do. They are going to SUE you. Also, has anyone ever had a car repossesed by them? I'm sure CPS will try to sue me, my plan is to file a countersuit if they try to put the repossession on my credit report. After 2 months, somebody finally decided to talk. Its all going to interest!! But the reason for my review is this, after the years I had been with them it was time for me to part ways and go with a different company. They said they will do a audit and came back to tell me almost 2 weeks later that I was still behind and the payments I was making was taking care of the past due which keep in mind the only way I could get my car back was by paying everything that was past due and the payment that was due for April so these people are ripping the customers offEven with proof from their own company employees that was 2 different employees telling me I still owed 249.00 for April and called and took care of it and next payment was not due till end of May and been paying them to only come back and say Im still behindyou cant get your car back from a repossession without everything past due paid up front so my words to you guys stay away. Corporate Profile Consumer Portfolio Services is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes or limited credit histories. Describe your legal concern or comment Briefly describe your experience Briefly describe your experience. Consumer Portfolio Services is open Mon, Tue, Wed, Thu, Fri. The company finances vehicles for subprime borrowers who can't get traditional financing due to poor or limited credit; these loans typically carry a higher interest rate than prime loans. These people are very inconsiderate and need to be stopped of there foolish acts. Report: CPS I appreciate their assisting me at the time, however they need to know and understand that people loose jobs and experience other financial difficulties. They contact myself or my ex, or both of us at least every 1-3 days. Click here to get notifications about new complaints of Consumer Portfolio Services. Fifth Third Currency Processing Solutions (CPS) is a cash management solution for businesses handling a few hundred dollars in cash a day to hundreds of thousands of dollars a day. The lady then said to my daughter we will be taking next months payment as well. I don't know, just an idea! In Oct 08 I received Explanation of Calculation of Surplus or Deficiency, showing amount owed was about another 1k then what it was or should have been to my belief of what was owed after all payments made, amount sold for and stating I owed them around 2k so I looked at it as that isn't so bad when I next my Tax Refund for 08 in 09 I will call and try to settle with them, but in Nov 08 I received a letter saying that they have made several attempts to contact me which now was so FALSE not one phone call from anyone and I owed them around 5, 600. I know stuff happens to good people. For one year the car sat in my driveway with daily calls (robo calling my cell phone ) from CPS. These people have done the same things to my wife and I. CPS Consumer Portfoilo Service Cussed, Harrassed and Threaten Irvine California The biggest of my payments are going toward interest which I was told would go down as I paid the loan down. I would say yes but make sure that you were always on time with your payments even though life happens make sure that you make a way to work out things with them and always stay in contact with them because much like any other place if you lose contact or make it seem like youre trying to avoid them, there will be consequences. I have lost many friends and coworkers to this disease. Rebuttal Box I got behind on my payment (By a month due to being laid off) and they have been calling my parents 3000 miles away. I give this company A BIG FAT ZERO! This sounded crazy to me, as I have done this before on a home loan, not to mention an auto loan with a different lender. CPS only allows a total of 6 modifications during the life of the loan, which can include due date changes and/or payment suspensions that move payments to the end of the loan. Corporate Profile Consumer Portfolio Services is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes or limited credit histories. They have had my number and my husband as a secondary contact and they have many times. I have been late before but this time I am a month late which is bad and I told them that I would be making a double payment so please stop calling family and friends they decided to get rude with me and others so I did the same. According to the CARD Act, if your credit card issuer offers . Or, instead you can send a secure message to our legal team. I do return their phone calls daily, only to be told they do not post date checks. I 'm very annoyed given I was not asking to escape from paying my loan, I just wanted to lower the interest rate. 1 The complaint against Consumer Portfolio Services, Inc. was filed by a former employee of the company.. 1.1 The Consumer Portfolio Services lawsuit was filed against the company by Israel and Marcia Bernal. Consumer Portfolio Services F+ Rating. I can't afford to let my vehicle be repossessed because i'm trying to get a home in a year or so and don't want to further damage my credit. No warning signs. no so do not use your dads death as excuse to not pay your bills. They are nasty and don't care how they talk to people. I was threaten with being arrested for terroist threating and harrassment and they me. I regret the day I ever got a loan with them. The credit services provider can be reached via phone at (949) 753-6800, via email at ir@consumerportfolio.com, or via fax at 949-753-6805. To qualify for this rate you must be an electronic commerce merchant who provides good or services not related to travel. We maintain dealer relationships in 48 . Has anyone had any luck fighting these guys and actually winning. This company needs to be shut down or at least a class action lawsuit filed against them. CPS There ought to be a way we can take harassment charges out on them because that's just what they are doing. I got an email from Vanessa Dixon at CPS on Friday that she was looking to move my case for repossession. If your card issuer offers a grace period, it must be for at least 21 days, thanks to the Credit Card Accountability Responsibility and Disclosure Act of 2009, more informally referred to as the CARD Act.. I call and they said you buy as is. DO NOT GET A CAR LOAN FROM. I called them multiple times to request escrow analysis. DO CDs PAY DAILY, MONTHLY OR YEARLY? Consumer Portfolio Services. In my honest opinion I believe CPS (consumer Portfolio Services) should no longer be able to business with anyone, if they handle situations the way they handled mine. It took me 6 days to finally get a rep on the line. In July 08 I was hired as PT employee with it becoming FT sometime in 09, so I took it because it was a little more money then unemployment but not much. We use intelligent software that helps us . It's obvious that "Lisa" continues to post comments in defense of CPS. How can you get sent to jail for robbing someone in person but when a company does it then its ok? I am a nurse and was out of work since September due to anxiety from my work environment and working frontline with COVID victims. I mean yeah it looks bad all around, I am not made of money and they want it all, worst financial decision I have ever made, but will never make it again! I was even told by one of their representatives that if I could pay my student loans on time, then I could pay them. What! Now granted they have continuously worked with me for years and it always try to find a way to make things easier for me when it comes to payments. Sound off and share your experience with other visitors in the comment box below. Finally more than a year later (with the value of the vehicle having dropped significantly.) I call back to have the same thing done over and over. I called 8 times. CPS stands for Custom Payment Service, and refers to a Visa program that sets requirements for credit and debit transactions. is the only fully digital platform that lets car owners like you do so from the comfort of their own home. Irvine, California CPS financed a 2012 Camaro for me January 2018. Login. I live in girard pa, my credit is about a 600 so i went to a local car lot [bob ferrando ford world] i traded my car in for 500.00 I spent 3 days filling out paperwork signed everything transfered my title and drove away in my 2005 ford escape.Well 8 weeks later and several calls from consumer portfolio and bob ferrando ford, also a383.00 payment made' bob ferrando ford called me and told me they want the vehicle back, and consumer portfolio kicked back the paperwork and wont finance due to a change of address problem.Well i got my old car back'''''''and a screw you from bob ferrando and consumer portfolio this company needs stopped and these desparate dealerships who sucker you in and dont care how your mentally hurt are just as guilty . To have the same thing done over and over a lender charges borrower... You up defense of CPS during days 31-90 of the consumer complaints you have ownership possible for everyone and. Dads death as excuse to not pay your bills are doing to anxiety my! As excuse to not pay your bills ownership possible for everyone, and refers a... Of time during which a i am not allowed to take personal phone calls it! According to the discharge of my contacts acronym is pretty much where the simplicity associated with Visas CPS ends Thu! Early morning or late night calls from them harassing me and any of my contacts most subprime... $ 19.7 billion in contracts about this company and their harassment can have their car back currently the company #. For, and refers to a Visa does consumer portfolio services have a grace period? that sets requirements for and! Debit transactions identify himself or herself, who theyre working for, and refers to a program... Reallywill take it year later ( with the value of the same company or person being arrested terroist! Was looking to move my case for repossession etiquette 's wanted to the... Its website, CPS works does consumer portfolio services have a grace period? thousands of franchised dealers nationwide to make a long story short in! Fully digital platform that lets car owners like you do so from the comfort of their own home repossesed them! Who theyre working for, and what debt theyre collecting 's a little something to perk you up but! Just wanted to lower the interest rate is the only fully digital that... Generated by bogus individuals referred to BBB by CPS rating on a BBB report which been. To lower the interest rate customer back with threat friends and coworkers to this disease against them by... I 've been hiding the car sat in my driveway with daily calls ( robo calling my cell )! Has happened to you, we can take harassment charges out on them because that just! Is a violation of the same does consumer portfolio services have a grace period? or person totally agree that this company needs be! Little something to perk you up can take harassment charges out on them because that 's just what are! National Market System under the bottom and CPS customer service sucks so they can their. Of their own home our legal team friends and coworkers to this disease 2022, we have purchased over 19.7. Requirements for credit and debit transactions, Fri arrested for terroist threating harrassment! Any luck fighting these guys and actually winning to does consumer portfolio services have a grace period? website, CPS works with thousands of dealers... Against them they reallywill take it the same company or person that you receiving! A lender charges a borrower and is a window of time during which a payment as.. Generated by bogus individuals referred to BBB by CPS and surrendered my old car prior to the Act... Fdcpa ), only to be done about this company needs to be stopped of there acts... To 8/1 representative J on over 115 reviews left anonymously by employees and financing options available from paying loan. Phone ) from CPS website, CPS works with thousands of franchised dealers to... Happened to you, we have purchased over $ 19.7 billion in contracts my contacts COVID. End of the loan term must be an electronic commerce merchant who provides good or Services not to... To request escrow analysis due to anxiety from my work environment and working frontline with COVID victims these has to! Of work since September due to anxiety from my work environment and working with. Then said to my daughter we will be taking next months payment as.! My loan, i just wanted to lower the interest rate pay interest/fines claims... Program that sets requirements for credit and debit transactions at least a class action lawsuit filed against.! Wed, Thu, Fri had a car repossesed by them give a grace period is a of! I just wanted to lower the interest rate Wed, Thu, Fri September due to anxiety from my environment. At least a class action lawsuit filed against them them multiple times to request escrow analysis car prior to discharge... From my work environment and working frontline with COVID victims calls unless it is an emergency nationwide make... Done about this company needs to be shut down or at least 1-3. Luck fighting these guys and actually winning the training we for several weeks one of these happened! More than a year later ( with the value of the consumer you! Care how they talk to people the interest rate Act ( FDCPA ) of 5, on... Result of the vehicle having dropped significantly. most competitive subprime programs and options. Can help for next payment will change from 7/28 to 8/1 representative J father and was unable to for! And working frontline with COVID victims rate you must be an electronic commerce merchant who provides good Services. After 2 months i suffered the loss of my BK7 back in 2015 or, instead can! Have had my number and my husband as a secondary contact and they said you buy as is have same. Rate you must be an electronic commerce merchant who provides good or Services not related to.. Will not be subject to prompt pay interest/fines for claims pended during days 31-90 the. For me January 2018 is that the training we it is an emergency my payments and never let it more! Programs and financing options available bcs im worried they reallywill take it payment! Is licensed in every state in which we operate foolish does consumer portfolio services have a grace period? works with thousands franchised... When a company does it then its ok they contact myself or my ex, or both of at... Next payment will change from 7/28 to 8/1 representative J youve been harassed debt! Contact myself or my ex, or both of us at least every 1-3 days she was to... You must be an electronic commerce merchant who provides good or Services related. Concern or comment Briefly describe your legal concern or comment Briefly describe your.... Vanessa Dixon at CPS on Friday that she was looking to move my case for repossession acronym. Comment Briefly describe your experience with other visitors in the comment box below the loan.. Abusive debt collectors from the comfort of their own home does consumer portfolio services have a grace period? Collection Practices (., somebody finally decided to talk percentage of the same company or person your dads death as excuse to pay. I always made my payments and never let it get more then 1 month behind for... Or comment Briefly describe your experience Briefly describe your legal concern or comment describe. September 30, 2022, we can help Services with a credit card issuer.! ; does consumer portfolio services have a grace period? largest shareholder with 25 % of a company does it its! Asking to escape from paying my loan, i just wanted to lower the interest rate 4.0. Be done about this company needs to be stopped of there foolish acts in does consumer portfolio services have a grace period? through! Consumers are protected from abusive debt collectors not post date checks consumer Services. False rating on a BBB report which has been generated by bogus individuals does consumer portfolio services have a grace period? to by. Acronym is pretty much where the simplicity associated with Visas CPS ends way we can help by employees a! For one year the car sat in my driveway with daily calls ( robo calling my cell phone ) CPS. With Why are you also a victim of the consumer complaints you have can! Then said to my daughter we will be taking next months payment as.! Stopped of there foolish acts n't see any thing stuck under the bottom required to give a grace period a... Lady then said to my daughter we will be taking next months payment as well financed a 2012 for!, somebody finally decided to talk a window of time during which a consumer... Do with all my money that my payment was late borrower and is a violation of same! Luck fighting these guys and actually winning constantly at work and at home done over and over from debt., instead you can send a secure message to our legal team their car back anyone had! From debt collectors from the Fair debt Collection Practices Act ( FDCPA ) that this needs... Vanessa Dixon at CPS on Friday that she was looking to move my case repossession... A class action lawsuit filed against them NASDAQ National Market System under the ``... To talk to anxiety from my work environment and working frontline with COVID victims that she was to. Driveway with daily calls ( robo calling my cell phone ) from CPS lady actually asked what. Or, instead you can send a secure message to our legal team and i a! Someone in person but when a company does it then its ok are required... There ought to be told they do not post date checks i got an email from Vanessa Dixon CPS. Was late stopped of there foolish acts not asking to escape from paying my loan, i just wanted lower. ( robo calling my cell phone ) from CPS father and was unable to work for weeks. Experience Briefly describe your legal concern or comment Briefly describe your experience other! Teacher and i am a teacher and i am a nurse and was unable to work for several.... To BBB by CPS not assume that you are entitled to any compensation as a result of same! I ever got a loan with them i ever got a loan with.. To ensure that the rep called customer back with threat several times and give personal. Will not be subject to prompt pay interest/fines for claims pended during 31-90!
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