Consumer Portfolio Services / Worst lender there is
This is the single worst company I have ever dealt with. I original purchased an the dealership used this company to secure the loan. I understood my credit was not the greatest at the time and I accepted the high interest rate and monthly payments for the vehicle. The loan itself was less than desirable but I accepted it and knew what I signed in to so that is not the problem.
I had the loan about 2 years. Everything went smoothly for the most part. I paid my monthly as expected and they received it as expected. Everything worked smoothly. The issue arose a month ago. I moved from where I was living and had a change in daycare for my son. My auto payment was due the 17'th of the month. The changes move it so rent and daycare came out the 15'th of the month. Due to having most of my bills all off the same paycheck now I decided to call CPS and do a one time due date change. I had them change my due date to the 2n'd of every month. That allowed me to split some payments up on 2 different paychecks like before. I called a week before my next payment was due. I was advised that in order to change the due date they would need that payment made. I said I would call back Friday when I got paid and do it. The representative instead said I would need to provide her my checking/routing number as a post dated check. This would allow the change of my due date. I gave her my check information and post dated it for Friday. A few days later (on Friday) I get a call from the same representative (Her name was Danielle Anderson). She tells me she needs to do a payment by phone with a debit card. She said the check by phone will take an extra 3-4 days by phone to clear. This could cause an issue since it would not clear until after my due date that same day. She assured me the check had already been cancelled and would not go through. She said it was confirmed with her Check Delete department and everything. I recorded this phone call as well. She took my debit information and all was fine. It showed up right away out of my checking account.
Monday I checked my account and I was negative several hundred dollars with about $200 of those being NSF fee's. They took out 2 payments (over $650 total) which put me in the negative. This was a problem because I have been planning my 5 year old sons birthday party for that coming weekend. I called CPS first and also recorded this phone call. Danielle admitted to the mistake but said there was nothing she could do. She said she will pass it on to her manager but she advised it's their policy NOT to refund NSF fee's even on issues that are their fault. Not once did she apologize. Instead, when I advised her of the checks for deposits I wrote for my sons birthday party I was laughed at and told "well that's not our problem sir"
4 days went by with me calling in. Danielle refused to pick up my call and never once after that returned any of my many Voicemails. Finally another representative called me on Friday and told me they notice the error that was made on their end. I was advised that unfortunately they will not be able to refund me my money or refund me the NSF fee's. They said it is CPS policy that they will not refund extra payments even if the payment was a mistake on the representatives part. I was told that CPS is not in the business if giving money back they are a company created for taking money.
I ended up going to my bank and filing a dispute. My bank favored on my side and gave me my money back and waived off the NSF fee's so in the end it worked out in my favor only thanks to my actual bank.
The only response I ever received from them after this was a letter stating "In a show good faith we waived the $14 charge from your account for your duplicate payment being returned" because I disputed that payment and it ended up getting returned even after it had shown as cleared. Their good faith was that normally they'd charge me a fee because of their mistake of taking a duplicate paying was being returned. But this time they would waive the fee off to show a hand of good faith... That alone is how bad this company is.
The problem CPS fails to understand is that sure, Most all of your customers have bad credit. That doesn't make a person bad though. They should not be treated worse or differently. CPS treats all of it's customers like dead beats even when they are not. The other issue CPS fails to realize is that not all borrowers stay having bad credit. 2 weeks after this incident I proceeded to pay off my entire auto loan 3 years early and took my loan to a different bank. I would not wish CPS to be the lender for my worst enemy that is how horrible this company and their representatives are.
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