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Review 7/15/2011
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My wife and i asked for a Loan from Wilshire about 2 years ago, July 06,2009 when we where struggling finincially. My wife went online to look for a car title loan. It was are last resort to get some quick cash putting one of our vihicles as callateral. We live in Rancho Cucamonga and that same day everything was done through fax and phone calls. This great Company, which we thought was there to help us, drove from LA to Rancho Cucamonga after 5 pm. We all know traffic is bad @ that time, but the lady drove out here and had a check for $2500 and the contract. After i saw the Contract i saw the interest rate was 79%!!! We where going to end up paying about $4500, we ended up taking the check and signing the Contract, we where desperate! Monthly payment $218.79
We have struggled the past 2 years financially but have made the payments to the loan however we can, most of the time late but nomore than 30 days. I get a bill every month from Wilshire Consumer and it keeps reading the balance a little over $2000. If i'm late 1 day i start getting rude calls and charged 79% interest per day. I didn't understand what it meant till this Wednesday July 13, 2011. I was 23 days late and i received a call from a repo man saying that he had an order to repo my truck. I called Wilshire and as always the employees are very rude, sarcastic and dont care bout customers complaints and concerns. They just say are u ready to make your payment in a rude way. Everytime i ask to speak to a Mangager everybody says he's not available. I have never been able to speak to a Mangager since i've been a customer. After i was transfered to Collections department with Ivan, he told me there was nothing he could do to reverse the repo. I told them that i've been unemployed for couple of months and i had a mild heart attack last year and this debt was just stressing me and my family. Ivan would only say that i signed the contract and knew what i was getting into. I asked how much i had already paid on the loan and he said a little over $4000 and still owed $2000 because of late interest rate charges. Now i understand why my principal doesnt go down. 23 days and i'm getting my truck repo! After pleading with Ivan to give me couple of days he agreed and gave me till Friday July 25, 2011 @ 3pm to make my monthly payment. After i made my payment today i was told that since i was 25 days late the whole payment was going to go to interest charges! My principal will never go down. I asked how much my total payoff would be and he told me it's $2000. Ivan mentioned on Wed that i only had 5 payments left before todays payment but because i've been late with my payment that's why i'm going to end up paying over $6000 on the loan. I also told him that i might end up paying off the loan with a credit card, just to get them of my back and he said that they could only take 3 monthly payments on credit card or if i wanted to pay off i could do it Western Union, company policy! Something is fishy bout doing it Western Union.
This has been the Most Unprofessional Company i have ever done business with. It makes customers feel worst than a Man being in the ground dieing and being BEATEN OVER AND OVER!!!
HONEST
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