The complaint has been investigated and
resolved to the customer's satisfaction
Resolved
Auto Portfolio Services/PEAK5/Flat Iron/Centrix FinancialLoan Paid-in-Full / PEAK5 Refused to Send My Vehicle Title

My loan originated with Centrix Financial in February 2003, when I traded in my Chevy Cavalier for a '00 Ford Explorer Sport from Cal Worthington Dodge in Carlsbad, CA. The trade in value for my car was $7500, which I still owed $9500; leaving a balance of $2000 to be paid on the previous loan. So what the dealership did, was pay-off my previous loan, and added the $2000 onto the vehicle I purchased. Needless to say, the terms of the agreement was to make a down payment of $1000, which brought my balance down to $17, 929.11 and a one-time payment of $3000 (Scheduled payment) towards the balance on the auto loan, and my first monthly payment of $432.03 in March 2003. Centrix debited both payments from my account on the same day, but only posted the $432.03 payment to my auto loan, and not the $3000. Every month I would send in my payments, but Centrix would wait until 8-10 days past my due date to post the payments...if I'm lucky. When Centrix Financial changed their name to Flat Iron Financial, I would make a payment over the phone with Centrix, and then two days later I would get a harrassing phone call from Flat Iron telling me to pay $655 to cover the late fees in order to avoid losing my vehicle...even after I repeatedly told the representative that I had just made a payment over the phone, and gave them a confirmation number. Once again, Flat Iron changed their name to Peak5, and the same problems continued to happen.

I've kept a complete record of all my payments including my bank statements that show the name, date, and transaction# of when each payment was made to Peak5 / Flat Iron Financial / Centrix Financial. Despite the harrassing phone calls, and improper collection procedures by the employees from the Peak5 / Flat Iron Financial / Centrix Financial, I continue to make my payments until the end of my contract (August 2008). My contract states a total of 66 payments...I've made a total of 93 payments, which included the multiple times I've had to pay a large amount over my regular monthly payment. My loan was to pay $17, 929.11 and I've paid almost $45, 000. I requested that Peak5 send me the Title of my vehicle, because I complied with the terms of my loan agreement, made the payments (and then some), and the vehicle is rightfully mine. This was in September 2008 when I requested my vehichle title...I still have not received my title. It's been over a year now, and I haven't received anything from Peak5 at all regarding my title...instead, on November 03, 2009, my vehicle was repossessed by Auto Portfolio Services, from my underground parking garage which is only accessible if you have a remote. The only problem is that I haven't received any notification from this company at all, nor do they have a right to take my vehicle when they don't even have the title. I did my research, and come to find out, the reason why Peak5 wouldn't release my vehicle title, is because they didn't have it either.

For those of us, who originally had a loan with Centrix Financial, when Flat Iron Financial took over...they didn't retrieve the vehicle titles for any of the auto loans that were serviced in 2003. So if Flat Iron didn't have the titles, and then Peak5 took over...they didn't have the titles either...so now that Auto Portfolio Services has some of the loans that were serviced thru Peak5...where are the vehicle titles from Centrix Financial? Newsflash!!, they don't! For those of you that are experiencing the same issues with obtaining what's rightfully yours, I'm about to start a Class-Action Lawsuit on all four of these companies: Auto Portfolio Services / Peak5/ Flat Iron Financial / Centrix Financial.

Responses

  • Jo
    johnls2002313 Nov 08, 2009
    This comment was posted by
    a verified customer
    Verified customer

    I'm also having the same issue. I've paid well over what was on my org contract from the paperwork that I was given at the dealership when i bought the vehicle. my vehicle hasn't been repossessed yet, but I also haven't contacted APS about getting my title. From other complaints on this board people who have contacted them get told they owe several more thousands of dollars on their loans, however APS will not provide any payment histories or how they have come to what the new balance is. Then they are telling people to make the payment that is due in one lump sum or they will come get the car. I have also been gathering info for an attorney, but my legal insurance at work that would help with the cost of one does not start till Jan 2010. I am very interested in a lawsuit because it seems that is the only way to solve this problem. if you like you can email me at [email protected]

    1 Votes
  • Mi
    MikeInDC Nov 18, 2009

    Add me to that law suit! I just got a repo threat letter for my truck. I had paid all my payments on time for 4 years before my June 2009 payment was returned unopened. I had made several attempts to contact Peak 5 to make payments and found out they went out of business. I've put money in savings waiting to be contacted, and now 5 months later I have a letter threating to reposes my vehicle unless I pay all 5 months of payments plus late charges and interest. I'll not agree to pay any more than my regular payments for the original loan length, or pay the actual monies die with no interest or penalties. I'm going to park my truck in a garage where a repo man will never find it until this is settled, I will not loose 4 years of payments on a vehicle I should almost have the title for.

    0 Votes
  • Cj
    C J States Nov 20, 2009

    A lawsuit may be the only option now. I paid off my loan in June 2009. I was able to talk to someone then who transferred me to the Titles Department, which consisted of two guys who "left early." I left a message and never heard back. I have been trying ever since, and obviously have had no luck in contacting anyone. I just searched again and found out that they are out of business. I still have not received my title. When I payed DMV my registration, they still showed up as the leinholder, which tells me that they never reported my account being paid off. Does anyone have any ideas that may help? Or she we all get together for a classaction suit?

    0 Votes
  • Tw
    twnt4jg Nov 22, 2009

    We also had a loan with Centrix Financial. We have experienced the same problems as all of you have. When we were contacted by APS, I decided to do some digging to find out if I should continue to pay this loan or not. We were concerned about getting title to the truck. Currently we have not heard from them in about 2 months. The truck is not at our house. It is parked elsewhere until we can resolve this issue. Please contact me with the information on the lawsuit. We are definately in. My email address is [email protected]

    0 Votes
  • Cr
    craigsjw Feb 02, 2010

    We would like to also contact you about the laws suit we financed our truck with Centrix in 1/04 for 6 years. We owe only 6 payments of $452.89 which equals $2717.00 & some change. In july 2009 we tried for the whole month to make a payment, but Peak 5's #'s were disconnected & we weren't going to mail a check to a company that had no phone service. Then first of August 2009 a man named Robert calls from Autoportfolio & states that we are 1 mth behind now & need to make the payment, eplained we had tried, so we make payment over the phone, get invoice, charged $6.00 late fee??? 3 weeks later make another payment to get caught back up! We asked who was our lein holder they tell us Charlotte Metro Credit Union, we call them & we have no account there, so we called Robert back & he still insist CMCU has our title, we go to CMCU (45 min. ride) & they look at us like we're stupid, & state we have no account there, yet again, well worried about them repoeing our truck we make payments in Oct 2009 & Nov. 2010. First of Dec. 2009 we decide to email CMCU, a Miss Evans emails us her # & Ext. so the next day we call her & tell her what's going on, so she is the first person to take time out & try to help us, she researched it & 2 days later calls & states they did have our title, but haven't since 2007 when flat Iron "bought out" centex, so given goes as far as calling them herself to get our Account Info, but they won't give her any info because she is a "3rd-party", how is that true if they have my title/lien. Then last week we get a letter stateing we have 10 days to pay $4100.00 plus dollars or they are coming to get our truck, on this letter it has the lien holder as CMCU, so we fax that to her, but her hands are now tied, & can't do anything us, so she tells me to call Robert back (today (2-2-10) & ask for payment details on our truck, he gives us a fax number to fax it to Autoportfolio in writing!!! Stating that we are being charged on day to day bases for being late. We have had 2 have 3 deferments in the last 6 years (still only owe 6 payments), every month always stated we owed more then we did, for the last 1.5 yrs to 2 yrs we have been paying $490.00 sometimes $500.00 on a $452.89 payment. We have paid over $2000.00 dollars on the interest as well. Our truck is hide & locked up & we refuse to pay the $4100.00+ they say is owed. We only owe $2717.00+ for 6 mths. We are now 91 days late (today, 2-2-10) Truck was suppose to be paid off 1-3-10, but with 3 deferments pushed it back to 4-3-10. Our email is [email protected]

    0 Votes
  • Cr
    craigsjw Feb 02, 2010

    Also all this started because we wanted to know the payoff & who had the lien, so we could talk with them. They are hadding to amount owed & not even taking of interested, which has been over paid!!!

    0 Votes
  • Ke
    kel32 Mar 01, 2010

    i have the same problem they just repossessed our car after paying on it for over five years and spending 2 months trying to reach aps to send a payment they took our car and refuse to tell us what months they are claiming we did not pay. there is only like 6 people total at this company i sometimes wonder if they are ligit. i was told by the police to get a lawyer. we are trying to get the car back and the guy in the repo office is ignoring us and when i call the place where they are holding my car the guy just says hello won't give me his name or where he is located all i know is gregory michigan. anyone know where this lost is? email me at [email protected]

    0 Votes
  • Sl
    slynnmooroe Mar 09, 2010

    we financed our vehicle through Centrex Financial and at first we didn't seem to have any problems with them. We were told that upon making all payments on time for the first year, they would refinance the vehicle with a lower interest rate, but this didn't happen. We discovered that although we made our payments on time, they would not post the payments until the 11th day past the due date and then slap a $25 charge on our invoice. I called them and spoke with a rep and was told something different everytime. They just didn't seem to know what they were doing. Our payments were deducted on the due date, but they would not post them until later. When Centrex changed their name to Flat Iron, I was not notified of this and upon answering a call from Flat Iron, I was told they were now Flat Iron and was told I had 1100 past due. This was not correct and I once again tried to tell them the payments were taken from our checking account by the due date - but if they would notice they were not posted until later and fees were added and I was not going to pay them. So I got this part straightened out and we hit a tough time in our finances so I asked for a payment deferment, paid the interest and thought things were cool, but months later, I realized they were again charging $25 late fees because they didn't get the deferment agreement entered correctly. I could not get out of this - so paid them an extra amount of money with all the payments, but the past due balance never went down. I then learned that they had once again changed companies/name to Peak 5. I was just totally disgusted at this point and angry. I wish I had hired an attorney at this time. There are payments not posted to the account, and when Auto Portfolio took over my balance due went up $3000 and I was told that i have a balloon payment due 11/09. This was wrong.. I got out my contract and proved that. Again, no one at the APS said the same thing. I was promised a copy of the contract they had and a copy of all payments would be sent to me... but I never received it. I disputed the balance of $4900 due and they come and repossed the vehicle late at night. I called the APS office the next morning and was trasferred to a Mr. John Wood - I told him we would redeem the vehicle, but did n't owe $4900. I told him we would have the money by Monday (we had already told a rep we would pay the van off by 2/1, but she failed to make note of this and they repoed van)... he said call me back when you have it. Well, this started a very stressful time of repeated calling to Mr. John Woods direct number (not toll free) AND leaving 3 messages a day for the next 2 weeks. I had told him to call my cell number, but he called my work while it was my day off. Not only did we have to pay $1000 repo fee to APS plus bal. of $4900 we had to pay the place that held our van another $600 in order to get van. We had to threaten APS with an attorney. I WOULD VERY MUCH LIKE TO BE PART OF A CLASS ACTION LAWSUIT. please contact me at [email protected]

    0 Votes
  • Us
    usmay88 Mar 13, 2010

    We are also dealing with the same kind of situation with this company. We started with Centrix back in 2004 when we bought our car. We too were told that after 1 year of payments that we would be refinanced into a lower interest rate, that never came to be but at least we had our car. We have been switched between peak 5 and flatiron was told that it was the same place, we never were notified that flatiron was no longer in business but all of a sudden started to get calls from APS. Made payments to them then today had someone come to repo our car. The man was very nice especially when I should him on my computer that just 2 weeks ago they were paid from my bank account. He asked me to call them which I did and of course got no answer which he said that he tried to call them and didnt get an answer. After showing him my bank statement that showed their name, the date of payment and the amount he told me to call them on Monday. How can you repo a car that you are accepting payments on still? When I called the DMV to see who currently owns the lein on my car they gave me a PO box in Naperville IL that is associated with an attornies office...Not APS???? VERY CONFUSED AT THIS POINT ...WOULD LOVE TO BE PART OF THE CLASSACTION LAWSUIT...please contact me at [email protected]

    0 Votes
  • Co
    Coach Bear May 01, 2010
    This comment was posted by
    a verified customer
    Verified customer

    good afternoon,

    sign Me up up... I'm paid in full and simply can't figure out where to get the title from... never been contacted by auto portfolio, but I'm goin lookin soon as I post this...

    Bear

    [email protected]

    0 Votes
  • Ij
    ijjohn3001 May 07, 2010

    please tell me how to get in on this class action lawsuit
    [email protected]

    0 Votes
  • Cb
    cbhcsh May 12, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Please contact me also regarging law suit. My loan has 2 payments left. They told me that my next to last payment will be the same, but the last payment is a ballooned payment that will 3 times as much as my regular monthly payment.

    contact [email protected]

    0 Votes
  • Da
    darrell.fullwood May 16, 2010

    sign me up too they been threatening me that i ave been late on payments because they would hold on to my allotment and not process it right away. i am in the military and i only get paid on the 1st and 15th and they would hold it until the 22nd. they suck. my email is [email protected]

    0 Votes
  • Ma
    Mathis89 Jun 11, 2010

    Please add me... [email protected]

    0 Votes
  • Ra
    raiders185 Jul 30, 2010
    This comment was posted by
    a verified customer
    Verified customer

    same problem here getting my title. please add me as well. [email protected]
    thank-you, Terry Davis, Tulsa, Ok.

    0 Votes
  • Nu
    NurseNicc Jul 30, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I also had this problem financed through Centrix and this APS repossed my car. A couple of days ago I Got the registration renewal for the car the repoed in 1/10 would like to be apart of class action suit [email protected] has anyone noticed the car is no longer on there credit report????? STRANGE

    0 Votes
  • Jo
    Joanne S Aug 06, 2010

    I am having the same problems. The 72 months of my loan are up, and all of a sudden APS is telling me that I owe another 2900 dollars. If you look at my monthly statement from them however, it shows 2900 in principle owed and no late fees or other fees due. However Denise from APS told me that the 2900 is due to late fees and interest (which I don't have) She also said that it is due to a deferral (which again I never had a deferral on the loan) My title shows the lien is held by Centrix Funds LLC, but when I ask APS for their contact info, they refuse to give it to me. I have sent a request for payment history and documentation of where the extra 2900 came from, but I am not holding my breath. I live in Ohio and according to the BMV, if the lien holder can't be verified, they can send an authorization to release title to the county of residence, and they can release the title to me. Please add me to any lawsuit [email protected] Also I would be curious to hear from people who posted a while back to see if there was ever any resolution. Good luck everyone!!!

    0 Votes
  • Cl
    claudina Aug 13, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I would love to be included, I am dealing with them right now, they want to take my car, even if they say my account is 100% accurate. This is my last year paying my car and they said I owe almost 10, 000 when I have been paying 330/month for 4 years!!! It is crazy and I am more than ready to do something legally about them. Please feel free to contact me [email protected]

    0 Votes
  • Da
    David E. C. Aug 23, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I would all so appreciate any info regarding this suit.

    0 Votes
  • Au
    AutoPortfoloneeds2bsued Oct 06, 2010

    These are the same idiots that ran Peak 5 into the ground. Minus two or 3 idiots that moved on to different companies. I hope the companies gets sued so bad that the reps their are personally sued for wrongful repo. Hopefully that information is useful in court. Same people... HONESTLY, They just changed their name.
    There should be some law against, This type of dishonesty. And they are into the companies that repossess the cars too, anywhere from 90 days to 120 delinquent. so long story short. your car gets repossessed, you pay to get it back. The person that was doing there job as a repossession agent. Never gets paid..messed up huh? All the people that work there should go to JAIL, I would get your state representatives involved, atty general.. If they do not hold title to your vehicle. They should be considered car thief's. Please get someone involved fast, They are still doing this too many more people.

    0 Votes
  • Jo
    Joanne S Oct 30, 2010

    PLEASE!!! You must file a complaint with Colorado Attorney General's Office. I just received a letter from them stating that there would be no further investigation unless more complaints were received.

    0 Votes
  • Cr
    crimson0163 Dec 17, 2010

    There was a class action lawsuit already filed, and won. Here is the contact info. The Brown Law Firm: 118 Southwest Blvd, Suite 200 Kansas City, Missouri. 64108. P: [protected]. email: [email protected]

    0 Votes
  • Ho
    hotrd3g Feb 28, 2011

    I am in the same boat and have posted numerous times on here. There is no class action lawsuit. Nobody wants to do their jobs in the government. Lawyers dont want to file a case, my lawyer has had my case for 2 years now and he will not file a suit against them because it will cost me too much money. I am in Ohio and Relentless recovery repo'd my truck this last thrusday the 24th of Feb 2011. They do not have the title, my lawyer has called and called and they will not talk to him to prove that they have any documentation to accept the payments for my truck or will they produce my title. I hid my truck very well for 2 years beacuse there were 4 repo companies looking for it. But yet I couldnt make a payment to anyone. there was no one legally to make the payment to. Now I am going after the repo company personally. And anyone thats gets in my way I hate it for them. Sooo, to everyone on here, there is going to be NO resolve to our problems with this company. And when I make it out to California, or wherever else i need to go, I am going to bring down APS, myself. By god the government will want to do something now won't they. They just [censor]ed the wrong guy.

    0 Votes
  • Ho
    hotrd3g Feb 28, 2011

    Sorry, i did not read the last post before mine. I am going to be contacting The Brown Lawfirm: 118 Southwest Blvd, Suite 200 Kansas City Missouri, 64108. P:[protected]. email: [email protected]

    0 Votes
  • Ra
    raheem11 Mar 17, 2011

    Please contact me as well on this matter...I HATE THESE [email protected]

    0 Votes
  • Dr
    drea_k May 19, 2011
    This comment was posted by
    a verified customer
    Verified customer

    This is my story as well only years later and I still don't have the title of my car

    0 Votes
  • Sh
    ShellyZ Nov 02, 2011
    This comment was posted by
    a verified customer
    Verified customer

    Auto Portfolio is ranked right up there with the other bank thieves and unfortunately I have complained to every government agency that I could possibly have complained to and I get nowhere. They claim they are just a servicer for Centrix Funds. I cannot find my original bill of sale because I could have sworn it said Centrix Financial. I asked Auto Portfolio for a copy of the original bill of sale through my states attorney generals office and they sent one but it looks like they changed Centrix Financial into Centrix Funds and I have no proof. My question is does anybody have their original bill of sale as to who owns the lien to vehicle. Centrix Financial and Centrix Funds are supposedly two different entiitys according to their answer to my complaint through my states attorney general they claim Centrix Financial was just a servicer for Centrix Funds.

    -1 Votes
  • Nu
    nursenik Nov 03, 2011

    Shellyz email me @[email protected] I still have mine

    0 Votes
  • Lo
    lotus0723 Dec 21, 2011

    Please include me also if a class action lawsuit is in the making. Similar story. And I realized that the loan disappeared from my credit report for years only this year to show up in an incorrect amount as APS. Although they have never contacted me. Some random "collection agency" contacted me a few years ago about making payment arrangements since my car was in collections. Again shows nowhere on my credit report. If they do not have titles or original loan agreements how can they collect a debt or repo a car? [email protected]

    0 Votes
  • Ha
    Hamblin Jan 05, 2012

    For all of you who want your title. I had a 2005 Aveo and I was sending payments to Centrix and they were being sent back. I tried calling them but disconnected. I then gave up and when I bought a new car in 2007 I gave the Aveo to a family friend, he recently wrecked the car and the insurance delcared it a total loss, in order for me to get a check from the insurance company I have to supply a title. I went to my local Tax office and filed for a corrected title stating that the lien company (Centrix) went out of business and had their name removed from the title the loan is also over 6 years old. I paid $33.00 to do that. Once I get the title I have to give it to the insurance company and then they will send me a check. So for all of you out there who are having trouble getting a title go to your Tax office and file for a corrected title to have the finance companies name taken off the title. Hope this helps.

    0 Votes
  • Av
    AVW77 Apr 17, 2015

    Centrix Financial and all companies involved in the shady financial practices should be investigated and sanctioned. Regardless of the political backing these companies support, they lead the way for others companies to mimic their practices. If their are no repercussion for these illegal financial practices, many consumers supporting a $1.4 bil..are being scammed. And critical punishments should (monetary and limited financial transactions) monitoring by the FEDS for 10 years. (Audit by; FDIC, FCRA, SEC and even Congress). Erroneous reports to credit bureaus and illegal selling of historical accounts; by Centrix Funds and Auto Portfolio services. Include me in your class action, if it not to late.

    [email protected]

    0 Votes
  • Ch
    Christine Dahdona Jul 16, 2016
    This comment was posted by
    a verified customer
    Verified customer

    Plz send me info about the lawsuit, sent them $1600, to get a 7, 500 loan but never received it and the wanted another 800$ before they can release the funds, never got my $1600 deposit back
    email [email protected]
    Thanks

    0 Votes

Post your comment

    By clicking Submit you are agreeing to the Complaints Board’s Terms and Conditions

    IN THE NEWS

    Unhappy consumers gather online at Complaintsboard.com and have already logged thousands of complaints.
    If you see dozens of complaints about a certain company on ComplaintsBoard, walk away.
    One of the largest consumer sites online. Posting here your concerns means good exposure for your issues.
    A consumer site aimed at exposing unethical companies and business practices.
    ComplaintsBoard is a good source for product and company gripes from especially dissatisfied people.
    You'll definitely get some directions on how customer service can best solve your problem.
    Do a little research on the seller. Visit consumer complaint websites like ComplaintsBoard.