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Consumer Portfolio Services / Dirty business

1 United States Review updated:

In 2006 I purchased a vehicle from a reputable car dealer who found financing for me with Consumer Portfolio Services in Irvine, California. Little did I know that this would be the biggest mistake that I could have made. Within 2 months I suffered the loss of my father and was unable to work for several weeks. I called CPS to inform them of my situation and that I was able to make the interest payment on the loan. I was told that they do not accept "partial payment" on a loan. 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. To make a long story short, in 2007 I moved to another state. I registered my vehicle on July 05, 07 in the new state. And they gave me a copy of the letter to be sent to the lienholder (CPS) requesting that they send the title to them to be titled in the new state. Since then my vehicle tags have came due, I cannot register my vehicle in the state I live in, nor can I do anything about it because CPS refuses to send the title to the state to be printed with them as the lienholder. Since then I have stopped payment to CPS and the vehicle has been repossessed by my request as it is no good to me if I cannot register the vehicle. 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. DO NOT DO BUSINESS WITH THESE PEOPLE!

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  • Tm
      19th of Aug, 2008
    0 Votes

    i totally agree with all of the complaints. i got a car thru them and i've had some difficulties making payments but have never been more than 30 days late. when i first started making payments, i was told there was a grace period of about 10 days after the due date. later on i was told there is no grace period.

    i was told by the dealer, once i paid on the car for a period of time, i could refinance the vehicle;only to be told by CPS that they don't refinance.

    They also don't allow you to skip a payment (move the payment to the end of the loan) unless there's a death in the family although this too could have changed. This is a common feature with loans thru a bank or credit union.

    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. i do my best to be on time so they'll have no reason to call me or my job (which they've done).. I'm also gonna do my best to pay them off early even though they've already gotten what the vehicles worth.

    now theres a possibility that my company could be downsizing and i'm confident CPS would be less than sensitive to that situation.

    Any advice in the event I lose my job?

  • Li
      2nd of Oct, 2008
    0 Votes

    Look people do not get the tittle to a car until it has been paid in full. Thats for CPS AND any other bank.- YOU got a car and in the frist 2 months YOU STOP MAKING PAYMENTS!!! you are a very RESPONSABLE PRESON. come on did your dad make the payment for you ? no so do not use your dads death as excuse to not pay your bills. then you skip town with a car thats not your - remeber it not your car until you have paid it to the bank. They paid the dealer for you to drive of with it. IM GLAD YOU HAVE BAD CREDIT BECAUSE YOU DONT CARE ABOUT YOUR CREDIT .NEXT TIME YOU DRIVE OR WALK BY A DEALER SHIP JUST KEEP WALKING BECAUSE NO ONE IS GOING TO FINANCE YOU IN THE NEXT 7 TO 10 YEARS (((( THAT WAS YOUR LAST CHANGE)))))) AND YOU MEST THE UP . HOPE YOUR HAPPY PAYING 23 TO 28% APR IN THE NEXT 7 YRS - HA HA LOOSER

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