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Consumer Portfolio Services / unauthorized charges

1 NJ, United States Review updated:
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I made a payment of 490.00 for my auto loan payment to cps on thursday May 1 then the next day while my card was declined I learned that the went into my account via my checking account and took out another 490.00 leaving my account in an overdrawn 100.00, they told me that I would not be able to use my checking account to make a payment because my last check did not have sufficient funds, so that i would have to call in using my visa debit card which comes out of my checking account, but they went ahead anyway and did it even though i had already made a payment, my next payment was even due yet, I have been trying to call all morning the automated system says they open at 9am-12pm on Saturdays, its is now 10:50am and I still keep getting the message"please call us back during out normal business hours" I dont know what to do I called and checked my account and they applied the payment to next months payment, meanwhile my services are gonna be shut off,

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  • To
      11th of May, 2009
    0 Votes

    You can file a complaint with the BBB. And you can dispute the transaction with your bank and they will reverse the payment and give you the money plus your overdraft fees back and in the future make your payment money gram. I don't deal with cps but my husband does and they did the exact same thing to him. And that's what I had to do for him. They called him on a saturday morning told him that his payment was declined and he had to use his debit card and he did and then his account was overdrawn because the payment went through and so I had to do that for him. Also the next time it happen you have the right to tell them that you will wait three business days to see if the payment comes out of your account and if it doesnt then you will make the payment via moneygram.

  • Ju
      23rd of Nov, 2009
    0 Votes

    I too have had the same exact problem with this company. I have come to the conclusion that this is a govt owned company. Because they break every law that can be broken and they are still in business, it leads me to believe that the govt set up this company to give the poorest of poor and those that struggle the most to pay their debts for whatever reason, a loan to get a car so they can continue to work. A person with a car is much more likely to be responsible then someone who doesn't have a car. If it wasn't a govt owned company there is no way they wouldn't have been sued. I would like to start a civil law suit. I would like to get everyone that has had any kind of bad experience with this company an opportunity to take part in this law suit. If you are interested in moving forward with me, please email me at In the subject line please post CPS Car issues. If you would forward me an email with what you have gone thru with this company and any contact info you feel comfortable sharing, I promise you I will do my best to expose these people in our court system. This company went into my daughters checking account a second month in a row, and took payment, even though they were told several times that they could only take one months payment. The lady then said to my daughter we will be taking next months payment as well. My daughter said no, they didn't have her permission to go in there any other time but the payment she was calling for. They went ahead and stole the money out of her account the next month without any kind of contact or permission. I too have suffered all the same phone harassment as well as having all my family members being told that they were coming to repo my car. Again, I will be shopping for an attorney and filing a class action law suit. If the govt is behind this, it needs to be exposed, if this is an American company doing business in America, then they need to abide by the laws in America and calling and threatening and stealing money from our accounts is not the way we do business in a law abiding country. Email me if you are interested in joining this civil lawsuit.

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