Category: Government Services 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. They are running an illegal establishment with kickbacks from specific dealerships and committing auto fraud on a daily basis. I registered my vehicle on July 05, 07 in the new state. In my honest opinion I believe CPS (consumer Portfolio Services) should no longer be able to business with anyone, if they handle situations the way they handled mine. 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. The credit services provider can be reached via phone at (949) 753-6800, via email at ir@consumerportfolio.com, or via fax at 949-753-6805. The grace period for federal student loans is typically six months. Credit card companies are not required to give a grace period. We Stop Calls and Harassment. THEY TELL HIM IF HIS PAYMENTS DON'T DOUBLE THAT THEY ARE GOING TO ATTACH HIS WAGES AND HE WILL BE WITHOUT A CAR.IF ANY ONE WANTS TO BAN TOGETHER AND FILE A LAWSUITE PLEASE CONTACT ME AT MY E-MAIL ADDRESS. 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. Rode with coworkers a few days. We purchase retail installment sales contracts primarily from franchised Collectors are threatening you with violence, a lawsuit, or arrest. According to its website, CPS works with thousands of franchised dealers nationwide to make vehicle ownership possible for everyone. CPSis committed to bringing dealers the most competitive subprime programs and financing options available. The dealers CPS works have access to its knowledgeable marketing representatives in the field that are skilled in executing all aspects of subprime financefor maximizing profit and fast funding. For car buyers, CPS, through its direct to consumer division New Roads Auto Loans (New Roads), specializes in giving auto loans to people with credit problems.. According to the complainant, CPS repossessed his car in 2014, but intentionallycontinued to report the account status as failure to pay, 30 days late, 60 days late even though he no longer had the car and the car had been re-sold. We maintain dealer relationships in 48 states across the United States. BUT YOU NEED TO UNDRESTAND THAT THEY LET YOU PUSH BACK YOUR PAYMENT BACK 3 DAYS. I got my car in 2017 because I had to an first they like most companies do illegal shady crap like gave me a interest rate of 25% when come to find out the federal and state governments have a cap on interest rates that no companies actually adhere to cause most of us people do not know about any of the laws. I also learned that the car I purchases was a flood car. I hate this company and cant wait until this freaking car is paid off 1 more year. A grace period is the set amount of time you have to meet a financial obligation. We look forward to working with you to resolve your legal issues. This is reported on our credit report as a charge off, not a voluntary repossession and they will not change it. Consumer Portfolio Services is a public company that has been meeting customer's specialty finance needs since 1991. The BBB lists CPS as a consumer finance company and a collection agency. There are several benefits of Fifth Third Currency Processing Solutions. For one year the car sat in my driveway with daily calls (robo calling my cell phone ) from CPS. I give this company A BIG FAT ZERO! I always made my payments and never let it get more then 1 month behind. This company is a plain pain in the ? We have no problem paying our bills every month. Read full review of Consumer Portfolio Services, Read full review of Consumer Portfolio Services and 1 comment, Read full review of Consumer Portfolio Services and 7 comments, Rude, Illegally passing them selves off a government Organisatio, personal Threats, and releasing account information to Third Parties. Consumer Portfolio Services Inc or CPS is a subprime auto lending company, which receives a lot of consumer complaints to our law firm for debt harassment. Also, has anyone ever had a car repossesed by them? A link has directed you to this review. Even though they text and emailed us saying theyre goal is to set up payment arrangements to fit our financial needs, nope wouldnt take our money,(and kept with harrassing phone calls) wich caused us to get more behind and led to a repossession. does consumer portfolio services have a grace period? The Consumer Portfolio Services late payment policy provides a grace period of 7 to 15 days. Little did I know that this would be the biggest mistake that I could have made. Irvine, California, I don't know, just an idea! I have had a rep to call my job back to back 10 times. I live in girard pa, my credit is about a 600 so i went to a local car lot [bob ferrando ford world] i traded my car in for 500.00 I spent 3 days filling out paperwork signed everything transfered my title and drove away in my 2005 ford escape.Well 8 weeks later and several calls from consumer portfolio and bob ferrando ford, also a383.00 payment made' bob ferrando ford called me and told me they want the vehicle back, and consumer portfolio kicked back the paperwork and wont finance due to a change of address problem.Well i got my old car back'''''''and a screw you from bob ferrando and consumer portfolio this company needs stopped and these desparate dealerships who sucker you in and dont care how your mentally hurt are just as guilty . After all I had severe pneumonia complications as I am disabled veteran to date I am still under Department of Veterans Affairs medical care for it. One of our staff members will call you shortly. These people are very inconsiderate and need to be stopped of there foolish acts. They call me constantly at work and at home. I couldn't afford the repairs and needed another car asap. Really? The calls dont get me started on the calls like jeez if your a minute past your due date they will hound you and when covid came they where like well too bad you better pay this car note, you dont need food. Which in a sense should do but would of never thought of doing if it want for this truck, I cant afford for them to take more a month from me than my monthly payments are and not have the truck. I was lectured on how I was to spend the stimulus checks the federal government was giving! According to the Better Business Bureau (BBB), Consumer Portfolio Services was founded and incorporated in 1991 in California. ComplaintsBoard.com is a leading complaint resolution website on the Internet. Corporate Profile Consumer Portfolio Services is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes or limited credit histories. I KEPT the maintenance and my payments up. They aren't available at all. (This is based on the year to 2017). So I thank them for that but they just need to have a little bit more get up and go when it comes to making sure that important things like a payoff is taken care of in a timely fashion so I wont charge the person thats trying to part ways to them and trying to pay them off any additional money because thats just not fair. I was very surprised at his response given I was very polite and not to mention current on my loan. Stuck in 3rd towing using tow mode I hear no answer what to do I have 2 of these 1500 2022 gts plus remote start fail and towed to dealer. He has been repeatedly recognized as the most active consumer attorney in the country. I WORK AS A INVESTIGATOR AND IT IS AGAINST THE LAW FOR THEM TO CALL ANYONE AND POSE A PUBLIC SERVANT OR PEACE OFFICER TO TRY AND GET A CAR PAYMENT. I called the car dealership that I deal with and told the Manager that if he ever attempted to put me with that sorry company again that I'd drive right through his showroom! Operating Status Active. Would I recommend this company to anyone specifically if you dont have the best credit and no banks will take a chance on you? Guess what "it wasn't set up correctly." They make mistakes and sometimes calls even when your note has been paid Then car warranty telemarketers keep calling me almost on a daily basis about the car and I know they got my information from CPS and to top it off when the dealer first tried to get me financed through CPS, CPS denied me credit and I have the denial letter, then about 3 months later the dealer called me and said he had more vehicles and that CPS agreed to finance me which I had never applied a second time with them. CPS has received consumer complaints alleging violations such as improper communication tactics and sharing of information. The grace period on a car loan is the time between your due date and the point at which the lender actually treats your payment as late. Grace periods usually last six months after you graduate or drop below half-time . And they are rude. To avoid additional fees and finance charges, you should stay current on payments. The Consumer Portfolio Services late payment policy provides a grace period of 7 to 15 days. The company finances vehicles for subprime borrowers who can't get traditional financing due to poor or limited credit; these loans typically carry a higher interest rate than prime loans. "When it is not even the due date". How can they get away with doing these kind of loans? ; 1.3 According to the FTC, Consumer Portfolio Services . The interest will continue to accrue on the balance you owe. Zacks Equity Research. There is a clause in the contract that says if they sell your loan that party had the same rights. The Lemberg Law legal team is committed to holding debt collectors accountable, so complete our form for a FREE case evaluation, or call 844-685-9200. Do not assume that you are entitled to any compensation as a result of the consumer complaints you have. Absolutely unprofessional! To be honest I have delt with debt collectors that are more professional, and some of those people can be rude. I notified CPS in May 2014 that I had lost my job and could not make payments and requested a voluntary repossession. So I called my lawyer and had her take over the resolution. Specialties: Subprime Auto Lending Established in 1991. no so do not use your dads death as excuse to not pay your bills. During the first two calls I explained to them that i was homeless with my two children and I could bearly feed them let alone pay my car payment, prior to then I paid my care payment on time. We use cookies to ensure that we give you the best experience on our website. What is so historic about Georgetown Kentucky? Withholding and payment may be deferred until the period between January 1 and April 30, 2021. The grace period duration varies depending on the contract and debt instrument but is usually 15 days. I just got off the phone with them blasting them as I traded my vehicle in July to get away from this police state led business that dictates the consumers! Their dealer pages inform site visitors that Consumer Portfolio Services has programs for franchised and independent dealers and that partnerships with auto dealers have made CPS a leading subprime auto lender. CPS also helps dealers build a successful subprime operation by providing training and support from CPS marketing representatives who know the market and know how to bring dealers qualified leads, to ask customers the right questions to help dealers maximize approvals and profits and to get paid on deals.The dealer FAQ page outlines CPS programs and informs site visitors that more information is available by contacting CPS. In the case of a secured loan, the lender no longer has a claim to any of the borrowers assets. I called and tried to resolve the matter between the two letters and they claim that I do owe them 5, 600 not 2, 000. I knew that if I got behind on a payment then they couldn't call the upper management where I work and harrass the ### out of them! Does Consumer Portfolio Services have a grace period? Thank you!, I want to thank you and your team for all of the help you have provided to me. They repossessed the car and told me that I couldnt attempt to recover the car and pay the amount required to get it released until 3-4 days later. I responded it really wasn't their business but i told them anyway. Stay away from these loans. Claim it and get a lot of features. I authorized a payment of 117.00 to be taken out of my account for my car note and they took out an unauthorized payment of 266.99 after telling me it went through for 117.00 and giving me a confirmation number. We have a compulsory and intensive program to train all servicing employees. Again they are very rude, discourteous and cannot treat a customer with respect. Consumer Portfolio Services is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes or limited credit histories. They have called one of my best friends at her teaching job asking about my payments(humiliating) and have said things like "Please stop screaming at me, threatening me" when I am not even speaking at that moment. Corporate Profile Consumer Portfolio Services is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes or limited credit histories. If I had $ I would have gotten the Camaro repaired. If anyone asked about CPS I would tell them that I would rather ride a bicycle than get a loan from them. What happens? Consumer Portfolio Services employs 792 staff and has a trailing 12-month . What Is an Interest Rate? In all honestly everything they put me, my family, friends, even step daughter one time through, all the FTC rules they broke they should be paying me 5, 600 for the harassment, threats, embarassment, suffering and almost costing me my PT job! I secured a loan from CPS in January of 2017 for $22,000. My point it cost me a lot of money and inconvenience with the sudden break down. May 2019 the car literally broke down on me. The tracking number showed that after the check was mailed out on 7 October it showed that it showed up in the mailbox their mailbox that was listed on their 10 day payoff letter on the 17th. Black Diamond Capital Management, L.L.C. I have been making payments for years and the balance doesnt seem to be going down much. I regret the day I ever got a loan with them. The company has to do there job, but this behavior is uncalled for! When CPS called me one day, I didnt answer the phone so they proceeded to call me at my job. They constantly harass my references if my payment was 1 day late. NOt to mention the interest rate. The number of allowed days for a grace period is determined by the system and is dependent on several things including payment history and balance due amongst others. 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. herein, Kentucky To increase your CPS, make sure you have a mouse that is fast enough. Landmark Supreme Court Decision Made in Lemberg Laws Facebook Robocalling Suit, Lemberg Law Wins Class Certification in Robocall Case, Translation: Switzerland; Volvo V60, 12/2018 (D3 AWD). We fund these contract purchases on a long-term basis primarily I too have incurred the wrath of CPS. Manage all your bills, get payment due date reminders and schedule automatic payments from a single app. I have been told there, Things You Can Do Yourself When You Have a Lemon, Background Check Errors Can Cost you a Job and So Much More, Tenant Data Services Screening Report Dispute False Info or Errors, How to dispute background check errors that cost you a job, You are receiving multiple calls per week from third party collection agencies, You are receiving early morning or late night calls from debt collectors, You are recieving calls at work from a debt collection agency, Debt collectors are calling your friends, neighbors, or coworkers, Collectors are threatening you with violence, a lawsuit, or arrest, A debt collector attempts to collect more than you owe, You are being threatened with negative credit reporting, A debt collector attempts to intimidate you, Criminal accusations are being made towards you, Use of obscene language during an attempt to collect, Automated robocalls are being made to your phone in an attempt to collect. 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