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Peak 5Closed with no answers

1 Review updated:

I called this morning to make arrangements to pay off my loan and the recording said to hold for the next available customer service rep and after 15 minutes it hung up.See Top 10 Worst Companies in Centennial, COWhen I tried to call back the recording now stated that Peak 5 was closed for information concerning your new payment arrangements to contact your lien holder and there were no further comments. Guess who the lien holder is!?! Centrix, which was the company bought by Peak 5 over 2 years ago. Does anyone have anymore info? I am tired of dealing with these people. I have contacted BBB and the Secretary of State office in Colorado. The BBB is trying to help but the woman in the state office didn't act like she had time to deal with my questions.

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Comments

  • Fe
      Jul 13, 2009

    I am having the same problem today. Trying to make a payment and only getting a recording saying the Company is out of busniess and to contact the lienholder. Since the message said to contact the lienholder, I looked up Centrix online and their contact information is the same as Peak5/Flat Iron or whatever the Company name is now. If you find out anything, plese post and I'll do the same.

    +2 Votes
  • Sh
      Jul 13, 2009

    I had the same problem. The situation with me is that I was hit about two months ago and the person at fault insurance company contacted me today to let me know that they were out of business. They have no place to send the check at this moment to pay on my loan. I don't know what to do either. If I get any additional information I will be sure to post it also.

    +1 Votes
  • Si
      Jul 13, 2009

    I have the same problem.I was told that I had until July 10 to catch up my payment that was two month behind but when I call to today to make payment I got a recording say they are out of business. They are so low down to I worry about someone trying to pick my car up for none payment when ther is no one to pay. Who is the lein holder that you shou;d contact because the are out of business too.

    +1 Votes
  • Ma
      Jul 13, 2009

    Centrix, Flat Iron, Peak 5 - is actually not a lein holder. They are a third party administrator as I discovered today when I also called to make my monthly payment. The lein holder will most likely be a Credit Union. I believe mine to be Velocity- (won't know for sure until tomorrow). Centrix apparently screwed a bunch of credit unions into approving these leins or loans just as they have screwed all of us :)

    0 Votes
  • Ai
      Jul 13, 2009

    I tried sending a money gram to them on Saturday and was told by money gram representative that a payment could not be processed and for me to contact the creditor. I wondered what was up. I had paid my payments on time for several months now, thank God. But I thought it was weird. Same thing for me to day when I called. I called the finance manager at the dealership I brought the car from. But I didn't receive a call back. Please post anything else anyone finds out. Thanks

    0 Votes
  • Me
      Jul 14, 2009

    I am having the same problem & I don't know what to do, I also did the same I went to make a money gram & the employee told me the account number I gave him was invalid, he tried it over & over again, so I called Peak 5 & that's when I heard the recording, so I called the dealership that I went through & he told me that he took Peak 5 off his finance group a long time ago because of all the business problems the company was having, so now I am so terrified of my car getting repo'd when I have no idea who to make payments to, so if anyone hears anything please post it to let us know, thank you so much!

    0 Votes
  • Wh
      Jul 14, 2009

    If anyone knows how to get the actual lienholder please post. I contacted the DMV in my state and my title still has Centrix listed as my lienholder. It was never changed.

    0 Votes
  • Ti
      Jul 14, 2009

    Hello, I did some digging this morning and found out that a company called SST is now servicing SOME of the loans from PEAK5. You can try and give them a call at [protected] to see if you can luck up and hopefully find out if they are servicing your loan or not. Hope this helps a few people.

    0 Votes
  • Va
      Jul 14, 2009

    Doe anyone know how to contact the lein holder for Peak 5.

    0 Votes
  • De
      Jul 14, 2009

    I paid my truck off in april and now am trying to retrieve my title so that I can buy a new car.. Has anyone had any luck in this same situation?? Help...

    0 Votes
  • Ti
      Jul 14, 2009

    Check peak 5 website, there is new info today with two possible companies that are taking over the servicing of these loans. hope this helps. It also said we will all be getting bills this month.

    0 Votes
  • Fl
      Jul 14, 2009

    I'm in the same boat as many of you. The only difference is that I traded by vehicle on July 4th and the dealership wants to take my new vehicle back because they can't get a hold of the loan servicer. I tried calling both places listed on the Peak5 website. SST said they didn't have my loan. I can't get anyone to answer the phone at the other company's website. Has anyone found their loan at SST or the other company?

    0 Votes
  • Ji
      Jul 14, 2009

    Call the state attorney's general office in Colorado and file a complaint.

    0 Votes
  • Wh
      Jul 14, 2009

    I tried SST and their customer service was rude. No luck with the other number either.

    0 Votes
  • Me
      Jul 15, 2009

    SST gave me a call yeasterday & the representative was very nice & courteous, she apologized for all the trouble the former companies caused me & answered all my questions without any rudeness, so hopefully this company will be a whole lot better, she gave me their phone number, it's- [protected]...& since i pay through money gram she gave me the new RECIEVE CODE which is 1481, so I hope this post will help you out!! Have a Good Day, Thanks!!

    0 Votes
  • Fl
      Jul 15, 2009

    My loan ended up being at the Auto Portfolio Services Company (APS). They finally answered the phone today and were very helpful.

    0 Votes
  • Wh
      Jul 15, 2009

    I received a phone call today from APS. The representative was very helpful. Good luck to everyone.

    0 Votes
  • Ma
      Jul 18, 2009

    hello am also haveing a problem with peck5 ifound out they are no longing in busniess and two contact the lien holder,
    i was upset do to this was my last payment ..and i was told to contact b.b.b.
    they gave me the company who toke over peck5 which is now call

    auto portfolio servies
    p.o box 30108
    salt lake city
    ut zip 84130

    i hope this will help someone

    0 Votes
  • Si
      Jul 19, 2009

    have called sst they don't have my info and can get an answer at Auto Portfolio. This is really driving me crazy because I can't pay my car note(I have the money now). I am up at night watching to see if the repo man is coming(I owe June and July). I have learn a lesson from this (make sure who I am dealing with is a who I think they are).Is Auto Portfolio a company for really?
    I call them everyday with no answer. I call today (Saturday) two times the 2nd time a recording came on saying office hours are Monday-Friday 8am-5pm mountain time. What is the best time to call for an answer?

    0 Votes
  • When I called Peak5 they stated that an 800 number was taking the calls. I called that 800 number and no one answered and there was not recording or voicemail.

    0 Votes
  • Me
      Jul 21, 2009

    the correct number to Auto Portfolio Services, Inc is [protected]

    0 Votes
  • Ll
      Jul 21, 2009

    I work for a car dealership and we had a customer trade in a vehicle whose loan was with Peak 5. We sent a check to pay off the vehicle and to date we have not received the title. After calling Peak 5's # I heard the "they are out of business" recording. The dealership has sent out a certified letter to Peak 5 and is hoping that it will come back from USPS as undeliverable that way the DMV will issue a title to us.
    I have obtained the following numbers from their recording:
    [protected] or [protected].

    0 Votes
  • Kd
      Jul 22, 2009

    I went to make my payment through money gram and the payment wouldn't go through, I trie to contact them and it hangs up, so I am not sure who the leiu holder is or where to send the payment. But my thought is this could mess with our credit history of we do not get some information soon. These people only did what they do best, but before they get another job they may want to take some classes for customer service.

    0 Votes
  • Ne
      Jul 22, 2009

    Whatever you do, PLEASE NEVER, NEVER, NEVER pay these people through money gram! western union quick collect or any other form. When your car loan keeps getting bought out by another company, all it takes is for them to claim they didnt get a payment and then they tack on late fees and interest! if you didnt keep your receipt or you lost it over a period of time, you have no proof of payment. I contacted the state of Colorado and they have an open investigation into this company and they are telling everyone not to make a payment to anyone until you receive a letter from the new company stating that they are the new owners of your car loan.

    Any company or person can go through the garbage and find your info from a company going out of business and claim that they now own your loan and to pay them, DONT FALL FOR THIS!!! hold onto your car payment and wait until you are contacted by the new company by mail! not phone and then do a background check on them and make them prove that they own your car title and loan. If this Company cannot prove that they have authorization to take over your loan dont pay them and contact your local states attorneys office and file a written complaint.

    If you truly believe that your car note is in safe hands with this NEW company, make them provide the terms of your loan, interest rate, payment due by date, and remainder of loan balance before you make another payment to them. All too often, your loan info is wrong or modified without your knowledge and you end up getting screwed! make the company PROVE IT!!!

    NEVER PAY THEM BY WESTERN UNION/OR ANYOTHER NON-TRACIBLE SOURCE, ALWAYS PAY BY CHECK!! ALWAYS.

    Follow these simple steps and you wont get ripped off, AGAIN!!! dont pay anything to anyone over the phone until you have written confirmation and proof of loan/title ownership from the Licensed company.

    0 Votes
  • Ne
      Jul 22, 2009

    Dont waste your time calling people trying to find out if they have your car title/loan, sit back relax and hold onto your money! the new company cannot ask for late fees, interest, or any other penalty due to the fact Peak 5 went out of business! that's not your fault therefor cannot be held against you. Dont pay people over the phone! Please wait until you get a letter.

    To those of you who paid off your loan and are waiting for the car Title, IMMEDIATELY draft up a release of title letter and send it to the old Centrix financial address in Dallas Texas, send it certified return receipt requested and see if it comes back. If the letter comes back unopened then take it down to your local dmv and ask for a Title and pay the title fee, this way you get your Title free and clear and dont have to screw around with outside company's who might try to scam you and say you still owe money.

    I am a Peak 5 customer and this is what I know from experience with these scammers! I have been ripped off so many times that I have paid almost $8, 000 over blue book for a 2003 car. I am hoping to get the letter back today so I can take it to the DMV and get my Title.

    AGAIN PEOPLE!!! DONT PAY ANYONE OVER THE PHONE, NO MATTER WHAT THEY SAY! DONT BELIEVE THEIR ASSOCIATES OR MANAGERS. pLEASE MAKE THESE COMPANY SEND YOU A LETTER AND PROOF OF OWNERSHIP WITH CONTRACT/LOAN AGREEMENTS ATTACHED, IF THEY WONT DO IT THEN DONT PAY.

    0 Votes
  • Ne
      Jul 23, 2009

    Dont try to call them, it is their job to contact you and let YOU know that they now own your car note/loan. Dont give any info over the phone, payments, checking account#, credit cards, etc! doing this can cause more problems. It is their responsibility when they agree to take over a failing companies debts and report to the owners that they have done so, DONT I REPEAT DONT talk to them on the phone and dont give the new company any money until they prove they own your account.

    These companies will say things like: can you verify your account info, payment amount, etc and that's because they dont own it! you just gave them the info they need to scam you. If they cant verify that THEY know your info existing loan amount, interest rate, name phone#, etc etc then they are a fraudulent company and you should not give them your info.

    Do everything in writing when the new company contacts you in writing and make them prove they own your debt. Make only your payments in checks, not western union, money gram etc doing this can cause major problems as this is not safe especially if you lose your receipt. Before you send any money, make them provide you with all loan info and initial loan agreement! if they cannot provide this info: DONT PAY THEM.

    contact your local states attorney if the company fails to contact you within the next 30 days! Colorado already has an open investigation into centrix, flatiron, peak5 and they are warning everyone to not make a payment and hold onto your money until you are contacted by the new company and wait until you have verified ownership and business license of new company.

    0 Votes
  • Ch
      Jul 24, 2009

    Had funds sitting in our account but never taken out - was told to wait for notification paper work to make my payment. I called and weas told if you have an ACH set up with Peak5 - it will not be taken out this month. No late chargers or bad cbr reporting will appear during this transistion time, please wait for the paper work.
    Also - NEWMOM2007 - Money gram is traceable and can be stopped, held, and redirected. Not a totally bad method of paying bills if you want to pay additional transaction fees - but your right, best payment option is a person check.

    0 Votes
  • Wh
      Jul 25, 2009

    Just thought I would let you know that I've tried to contact APS this morning with no luck. Their websites states that customer service is available from 8am-1pm mountain standard time.

    0 Votes
  • 2q
      Jul 25, 2009

    I read some of the Peak 5 complaints. I've had the same experience of trying to reach them with the number left on my answering machine asking me to contact the new company because Peak 5 no longer exists. After few brief moments, the line just goes dead. I don't get to talk to anyone.
    Also, in the past, I've tried to get a payment book and I've tried to pay additional monies so that my $13, 000 loan (which will be $27, 000 if it runs all 72 months) would be paid off early. It seems whatever extra I pay is then deducted from the next months amout. Also, I was late two months. When I paid the whole amount plus late fees the next bill showed NO decrease in the premium. This company does not conduct business like a normal and reputable financial institution.

    0 Votes
  • Sh
      Jul 27, 2009

    My husband hasn't received his car payment in the mail--this has happened before and then when I finally get a hold of them they say because I haven't mailed the payment 14 days in advance that they are charging me extra ...I have tried to call the cust # and the company # that I got off a website and the call wont even go through. What is the deal with them? I don't think it is fair and then they can call ita late charge on your credit. Any ideas???

    0 Votes
  • Ou
      Jul 27, 2009

    I'm also having a problem with Peak5 autoloans. Does anyone knows where to send thier carpayments. I call and I get a busy signak or a gone out of business recording. someone please help me! I'm falling behind on my payments and we all know how hard it is to catch up when you fall behind.

    0 Votes
  • Ne
      Jul 27, 2009

    wait until they contact you by mail!! please listen to me, Colorado is investigating them for fraud. Centrix never transferred ownership of titles when they filed for BK peak5 and flatiron never had ownership, now people who traded in cars with a centrix/peak5 lien on it are getting their cars repossessed because the dealership cannot get titles. APS contacted me this morning on a blocked number trying to get money out of me and saying they owned my car loan, B-- sh-- I paid my car off months ago!!! this is what I am trying to tell everyone, these new debt collectors are frauds and they dont have your title either.

    Some of the debt collectors who took over your loan are not even licensed to business with you in your state where your live, why else would they call you from a blocked phone number if they where a reputable company? tell them you dont know who they are and until you get confirmation in writing from PEAK5 that this new company owns your loan your not paying.

    Dont let them scare you! they cannot report you until they have proven that they have contacted you my MAIL and have described the terms or your loan and proof of ownership. Please contact the state of Colorado and MAIL a formal complaint in writing to them explaining your situation.

    A company cannot just skip town, go out of business and then sell your debt and not inform you in writing about the changes.
    Dont answer your phone from these debt collectors!! wait until you get something in writing and then make them provide you with proof that they are now the lien holders on your title. I guarantee you %100 that they are not because centrix never transferred title ownership to peak5. People all over the u.s. have been scammed by this company, dont worry! your credit must already be shady if you had to go through this lousy company to get a car loan.

    0 Votes
  • Sw
      Jul 27, 2009
    Peak - car payment
    peak 5
    LOTUS
    Colorado
    United States
    Phone: [protected]

    PLEASE TRYING TO MAKE CAR PAYMENT AND THE COMPANY IS CLOSE... WHAT HAPPEN TO PEAK 5

    0 Votes
  • Va
      Jul 27, 2009

    I found my car loan with SST. I called them and explained the situation and the customer service representative ask for my name, year and make of car and SSN. I paid my loan off in june and i was worried that they didn't get my last payment, but they did and my loan is paid off in SST system. I ask about my title and when I should receive it and the rep. explained that once they got all the title information from PEAK 5, they would mail it out to me. The representative was very helpful. This is the # I called [protected].

    0 Votes
  • Kl
      Jul 28, 2009

    I also have an account with Centrix AKA Peak 5, OR Flatiron and i am sick of all of them . They are the worst finance company i have ever dealt with, i am going to take newmom2007 advice and let these clowns contact me, it is not my job to locate them or to figure out what is going on . I just hope that someone or something can put a STOP to this bogus company and keep them from decieving or scamming others in the future. At this point i don't know who to trust even if someone was to contact me today, i just need to know who i am dealing with. I DON'T TRUST ANY OF THEM !
    K Lynette 07/28/09

    0 Votes
  • Bo
      Jul 28, 2009

    A few mistakes to point out in Nevadaman2007's comment. 1. (and most important) APS is a completely licensed company. 2. APS ASSUMED a PORTION of Peak5's loan...they did not BUY them 3. Peak5 has gone out of business...people dont seem to get the fact that when they closed their doors on 10Jul THEY ARE NO MORE. you can try to get a letter out of Peak5...but GOOD LUCK. 4. Peakt5 DID just go out of business, and will file BK protection. 5. just to clarify that people all over the US have NOT been scammed by APS. That is untrue and completely arrogant of this writer to assume or place blame on APS for something they have NO part of. The writer should really know the exact truth before slandering people on the internet. Now some FACTS. 1. Auto Portfolio Services is a start-up company that took approximately 60% of Peak5's auto loans to service. They do not have every loan that Peak5 serviced, although they will try as much as they can to help you find your loan even if it ISNT with APS. 2. They have some of the most qualified agents in the Denver area handling your calls and the top executives handling the rest. 3.They do not yet have any option to pay your note other than by mail to PO Box 30108 Salt Lake City, UT 84130 but the check by phone and credit card options will be available in the coming weeks. 4. The correct number to call IS [protected]. This is the Customer Service line. The other number listed on the website of [protected] is the 800# to the Corporate Offices. They can only transfer you to the other number to reach an agent, so if you call this number, you will have to wait anyway and be transfered. 5. the company IS more than competent to handle the servicing of your auto loans.

    I know the Cat and Mouse game is frustrating, but they are more than willing to help you with anything they can. They cannot help with anything Peak5 related as they are a completely seperate entity...it would be like calling Sears to yell at them about something that happened to you at Walmart.7

    0 Votes
  • Ho
      Jul 28, 2009

    I also have my car loan through Peak 5, and just attempted to call to find out the balance on my loan, and discovered that...SURPRISE, Peak 5 is out of business. No notice, no information on who to begin paying...this is ridiculous. I attempted to call both SST & APS. SST was closed, and APS put me on hold for over 20 minutes, and then i was disconnected.

    I am extremely frustrated by this entire situation. I haven't been a day late on payments (usually made through check by phone), in 4 years, and am now only a couple months shy of paying this car off...and now i'm in limbo. I keep seeing people saying not to send anyone any money until i am notified by mail. But, the LAST thing i need is to have the new company accuse me of being late on payments etc, and add on a whole bunch of late fees when i am strapped for cash as it is, and have been literally counting the days until i have this car paid off.

    I honestly have no idea what to do at this point.

    0 Votes
  • K9
      Jul 29, 2009

    I have been trying to contact Peak5 since Friday July 24, 2009 both by phone and their web site to make my payment but have been unable to. The phone goes right to a busy signal and the website will not come up, I have sent them a registered letter informing them of this issue and am waiting to see if I get a signed return or my letter back as undeliverable. I have a feeling they went out of business and we are sol, I just want to know what I need to due to keep my vehicle. Any ideas on what I should do next?

    0 Votes
  • Ho
      Jul 29, 2009

    I finally found out this morning that my loan is with APS. I called them around noon est at [protected].

    The woman i spoke to was EXTREMELY rude. She didn't seem to understand why i was hesitant to give her any personal information before she answered any of MY questions first. Finally, i was able to get her to verify the amount still owed, and the date of my last payment.

    I asked her why i hadn't received a notice from them about the change over, and she told me that it was because they hadn't 'verified my address'. That APS is waiting for Peak 5 customers to call them, instead of actually notifying the people themselves. What a ridiculous way to attempt to run a business.

    Oh, and she did verify what others have already said...the first payment needs to be mailed in.

    Personally, i can't wait until November when my car is paid off, and i never have to deal with these people again.

    0 Votes
  • Fr
      Jul 29, 2009

    I contacted APS [protected] and left a vm on 07/25 and they called me back on 07/27. The lady that called was nice and wanted to confirm my information. I asked her to confirm first, which she did. She stated that they have not converted all of the Peak5 information to their system yet. I explained to her that I was hesitant to make any payment until I received something in writing from their company stating they have assumed my Peak5 loan and she said she understood. I also asked her would any derogatory information be reported to the crediting agency and she said that it would NOT until everything has been sorted out. I need something in writing before sending a payment.

    I have also written a formal letter of complaint against Peak5 to the UCCC concerning their fraudulent business practices just for the record (not that I think it will do any good since they're out of business but felt good to get off of my chest).

    0 Votes

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