- Report: #1188873
Complaint Review: Westlake Financial Services - Los Angeles California
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Westlake Financial Services
Los Angeles, 90076 California, USA
Phone:
888-739-9192
Web:
www.westlakefinancial.com
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Westlake Financial Services Repossessed Vehicle with Payment only 18 days late Los Angeles California
Purchased a 2003 Ford Expedition in late July 2014 and was financed through Westlake Financial Services. I received a letter a few days later stating that my loan was denied, although I had already signed papers and was in possession of the vehicle. This was the only communication I received, other than a couple calls asking about my experience. My August 2014 payment was due on the 28th, but I could not make it by then. On September 18th, my vehicle was repossessed. On September 26th I got a notice that I needed to make my payment or my vehicle would be subject to repossession (It had already been repossessed 8 days earlier.). On Monday, September 29th I received a notice that my vehicle would be sent to auction at some time after 8 AM that morning.
I called Westlake and was told that if I could make my payment that day my vehicle would be held from going to auction. I borrowed money and sent a MoneyGram, then called Westlake. The representative told me OK, then just hung up on me. On Wednesday, October 1st I got curious and so called the place that repossessed my vehicle. I was informed that my vehicle had been sent to auction on Saturday, September 27th. I called the auction, who told me that Westlake would need to call them to hold my vehicle from sale, which they had scheduled for Thursday, October 2nd. I called Westlake again, and was passed off to some woman, who told me that the only way I could prevent my vehicle from going for sale was to pay the repossession fee, storage fee, another payment, plus other fees.
I did not have all this money they wanted. I was also suspicious that they would take that money, if I had had it, and still not hold my vehicle. After all, they had lied about holding it for the other money I sent them. Now, they are sending me notices of money due to complete the balance owed. Every notice is a higher amount. These people are not only rude, they are incapable to telling the truth, or giving anyone a chance to catch their account up to date without harassment. Had I known the type of business this place practices I would never have signed loan papers to purchase through them. If I could afford to sue these people I would in a heartbeat. But, I paid my last $3000 on this vehicle, and it has just gone like spit in the wind.
3 Updates & Rebuttals
Westlake Financial Services
Los Angeles,California,
“We apologize for the negative experience”
#2UPDATE Employee
Wed, December 03, 2014
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 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.
Crucible
Arizona,Works both ways.
#3Consumer Comment
Sat, November 15, 2014
" Had I known the type of business this place practices I would never have signed loan papers to purchase through them. "
Had they known that you were going to stiff them before paying back a penny on the loan, no doubt they would have had similar feelings about the deal.
FloridaNative
Palm Beach Gardens,Florida,
First payment default
#4Consumer Comment
Fri, November 14, 2014
First, I am not affliated with Westlake Financial at all. From your post, you state that you purchased the vehicle in late July and your payment was due August 28, but you could not make the payment. A first payment default is especially bad any time you borrow money. It is much worse than if you had defaulted much later in the loan. No one plans to default, but not making the first payment is ridiculous. It means you couldn't even keep your agreement to repay for 30 days!
A first payment default on any installment loan is going to put the lender on notice that they have made a mistake in issuing you the loan. It would make perfect sense that the lender would repossess the vehicle as soon as possible to perserve the collateral and mitigate their loss. That is a good thing for you because otherwise the fees would continue to pile up.
Having said that, you do realize you still owe the balance of the loan right? The lender notices to you are most likely the deficiency balance you owe. When the lender repo's the vehicle, the loan doesn't dissappear.
Look up the lender's remedies in the note you signed when you purchased the vehicle. Then look up any statutory requirements the lender has to adhere to when repossessing your vehicle in case of borrower default.
