Consumer Portfolio Services / Loans and Repossession
My boyfriend and I originally went in for a loan for a Chevy Silverado Z71. When the loan was approved it was for to much so we denied the loan. At that point the Sales Rep put through the loan for a lesser amount on the same truck. All of this took about a week to get done. We then drove the truck home and thought everything was going to be ok. Within 30 days we paid our first payment but then my boyfriend received a collection call from a rep at CPS stating we had made no payment on the account and we needed to make a payment immediately. I called them back to discuss this since our payment had already been made and discovered they had two loans out on us for the same truck .The payment was made to the wrong loan and so the other loan was already in default. After many phone calls and faxes I was under the impression that we had everything all straightened out. This is two months out and we still have no title for the truck to get legal tags. We contacted the dealer and CPS who informed us that the title had not yet been sent to CPS or filed into our name. We made another payment and continued to wait. At month four we had made multiple payments and still received no title for the truck. We contacted a lawyer at this point because we again began receiving collection calls from CPS, We informed them that we would not be making any more payments on the truck until we received the title so we could actually drive it. We were told that if we did not make a payment they would come get the truck we informed them that we would be contacting a lawyer.
Shortly after contacting the lawyer CPS contacted us and told us the title was on the way to us and to give them another call the following day. The next day when we were supposed to call them back there was a repo truck in our front yard trying to pick up our truck but instead was loading up our car that was owned outright and had never had a loan on it. While on the phone with my lawyer my boyfriend was confronting the Repo agent who informed us that he was told by CPS to drag the truck out of the side of the carport, which would have torn the carport down (keeping in mind they did not have a legal repo order nor could the driver produce an order for repo) or remove the car that was parked behind it. At this point I contacted the local authorities and made a report and proceeded with the lawsuit. We were able to go to the DMV and get a white copy of the title that was in my name but the loan was in both of our name. They were still processing off of the first loan that was only in my name and should not have existed because I never signed anything for the first loan. We never took possession of the vehicle under the first loan.
CPS admitted fault with the loans and offered to delete the first loan which was an illegal loan to begin with. My lawyer advised them that this was credit fraud especially since the both loans were listed on my credit report but the first was never signed for. They went ahead and settled with us out of court and we sued the repo company for their illegal actions as well but found out the repo company was owned by CPS. Imagine that. The agreement that CPS made with us to settle has still not been paid. We have been in court three times for contempt on an agreement that they made to us. We are still waiting on our money and we no longer have the truck. So I made payments on a truck and no longer have the truck nor did I get my payments back and they still haven't fulfilled their agreement to settle. At this point we are seeking additional legal action to attempt to freeze their accounts to take our money since they do not seem to want to pay. This all being said I suggest anyone that wants to take out a loan with CPS please be aware and cautious to what kind of company they are and what you are getting into I would rather walk to work then deal with the stress and anguish. What started out to be a simple purchase has been nothing but drama and stress to our family. ... four months later we are still waiting for our money.
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