Millions can't pay their car loans. Here's what to do if you're one of In retrospect, Im glad we put in place the things we have, he said. So you say I am the liar here your company is whack! - 100% Legal. However, it may look better to lenders than an involuntary repo. Contact Us - Westlake Financial If they cant sell it for enough to pay off the loan, you still owe the difference, plus any late fees you incurred. TODAY. REBUTTAL BOX However, they are so sneaky and distrustful that they reported this information to the credit bureau in March of 2014. Voluntary repossession has three key advantages: There are also a couple of downsides to voluntarily surrendering your vehicle or another item (on top of the obvious downside that youll lose your property): To make a fully informed decision, you need to know what your other options are. Thank you for sharing your feedback with Westlake Financial Services. Consumers struggling to pay their bills deserve to be treated with respect, not subjected to illegal threats and deceptive phone calls, said Richard Cordray, director of the bureau, which announced the action Thursday. Fill in your information and we will securely pull your TransUnion credit report. Number 2 - Had you failed to get the car back, it still would have been a reposession. In general, if you can avoid a repo, you should do so. WebWestlake is more than just an indirect auto lender. By signing up, you will receive newsletters and promotional content and agree to our. Voluntary repossession You should consider turning your car over to your lender as your absolute last resort. I thought nothing of it. However, if you have a repo of any sort on your credit report, most lenders will still probably view you as a higher-risk borrower and may be reluctant to offer you a loan. Westlake Financial Truck was repod on the 6th of November owing 242.00 no other past due payments truck was on a 20 day impound on the 20th day I went to pay the 382 or something like that to get my truck out of impound wen I did I was informed u guys had picked it up wen I called u guys u said u had repod my vehicle becuz it was in impound but the thing is u didnt have to go get the truck I was going to the very next day wen I was allowed to the truck was not left there I had been in contact with the tow yard several times while it was there they were fully aware that I was going to go get the truck at the rnd of the 20 days wen in the 6 th of November u guys repod then wen I called asking questions the guy I was talking to was very rude and impair isnt u have the recording as well as I do I was simply trying to understand wat happening n why I was more then willing to pay the tow yard fees and the 242 dollars I still owed on my monthly bill I have had a total of I think 19 payments with u guys with the exception of one payment late I think I might be wrong I might have paid it with in the grace period and I read ur policy saying that u guys were allowing us to skip a payment or more and put them twards the end of the loan but ur guys were rude I asked for a manager n he was even wors then the first guy he got loud with me becuz I asked him wat exactly it was that was paid to the tow yard n becuz he had already gave me a long list of charges and fees I had to now pay due to the repo I was unsure of wat was paid to them he demanded I get a pencil cuz he had already told me these things so now I needed tow right them down he kept getting upset wen I would ask any questions n wen I said Im sorry sir but I am not pay 1600 dollars today theres no way specially wen I feel like the truck shouldnt of been repos in the first place had u left it where it was Id have it today but becuz u went one day before I could Im stuck with 1100 more then I should be and wen I asked for help cuz I can only pay maybe half that today Im treated like Im on the street corner begging for change almost like u dnt want my biz any more like us rather take my truck then keep me as a costumer Im so confused and dumb founded n not knowing wat Im going to do now becuz thats the familys o ly means of transportation with two kids I.

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