Complaint Review: Westlake Financial Services/Owner

How much you put down means NOTHING. What matters is what was the balance on the loan and how much your regular insurance and the GAP insurance paid off.   I read about that 44 Million dollar Lawsuit you keep bringing up. That suit was from several years ago, it had to do with FDCPA violations for illegal collection tacticts. NOTHING in your report states that they have done anything illgal in attempting to collect as an incorrect item on a credit report is not an attempt to collect.

You don't indicate anywhere in your report that they are still attempting to collect on your loan, the only thing you have said is that the amount on your credit report is wrong.  How much time has passed?  Depending on the insurance companies it can take several weeks for them to actually send any settlement, once a finance company gets it you could have another 30-60 days to update the credit report with payoff information. So if it hasn't been this long it could just be a matter of you need to wait. If it has been longer  than that have you actually sent in a formal dispute to the credit reporting agencies? They have up to 30 days to respond to your dispute. If it was denied have you sent a formal WRITTEN dispute to Westlake?

If after these disputes it still remains on your Credit Reports and you have proof in writing(that would be a payoff letter from westlake showing how much was owed and statements from your insurance compaines stating that they have sent off the amount that would pay off the balance) you can take action. Yes this is where YOU don't just have to sit on your arse and wait for someone else to do something. You can actually file a claim for violations of the FCRA(Fair Credit Reporting Act) for showing the incorrect balance. This can be done in Small Claims, and if you prevail you can get $1000 in statutory damages per violation.  You may also be able to recover the court costs, and any "real" damages this has caused.  But in order to do this you must go through the dispute process showing you gave them a chance to correct it. You also need proof in writing that this loan was actually paid off.

First, get this right. Westlake Financial Services has dishonest practices. Second, the issue is that my auto loan with Westlake Financial Services was Paid in Full both by Geico and by GAP insurance. Third. and finally...the issue is that Westlake added a fee of "reposssion" after the loan was paid off. The car was never repossessed. The company is reporting the " repossession" fees of 607.00 on my credit report. These are false fees added on for obvious reasons to rip off yet another customer such as myself. In adding to my last comment about this company having three current active Government lawsuits pending, you fail to mention that our Military personnel who serve our country have been horribly effected by this company's collection practices. Could it be that many of us are in a "collection " status simply because false fees such as "repossession " fees are added on after the fact of loans paid off? I think so. Face it. This company is being called out for their illegal practices. Do your research and get it right. This is called truth and yes we have a government who is eventually going to fine this company for millions yet again. Get it right.

 You had Gap. What does the lender say this unpaid amount is for? What does the Gap company say about the unpaid amount?

We’re sorry to hear that you had a poor customer experience with us and we offer our sincere apologies. Cynthia, please contact us at

CustomerExperience@westlakefinancial.com so that we can discuss how to fix this issue. We want our customers to always experience the best in customer care.

 I put down 6600.00. That is a hefty down payment on a vehicle. I am not sure what you mean't by the low amount put on the down payment. As far as the borrowing from a subprime lender comment on that I trusted Westlake Financial Services and I had no idea of the unlawful practices that this company has. I am not to blame for the practices of this company. It is if you are blaming me for taking out the auto loan with a subprime lender. Perhaps this is why there are three pending GOVERMENT lawsuits against you.

The people have trusted your company in financing their auto loans so that they can have transportation to work. Put the blame where it belongs...On you. It looks like myself as well as others are having a voice about your unlawful practices. I believe that the United States Government has shown us this by having you give back 44 million plus. More money from your company to the consumers is yet to come. Think. Three pending lawsuits and one of which involves our Military personnel. Shame on you...harming those who serve my country. 

 I did have GAP insurance. Do your research. Geico paid off the loan value of the car and GAP insurance covered the remaining balance. Now. Westlake Financial has already had a lawsuit for which the government fined this company for unlawful practices. The consumers were given back as a whole 44 million. Google the lawsuit information. This company will have another fine in the future in due time. All calls to them are to be recorded by law so that this company is monitored for their unlawful practices. My auto loan was paid in full both by Geico and GAP. Here there is yet again another lie from Westlake Financial.

 It looks like you are saying the car was demolished or stolen then demolished. At that point, the insurance company would have paid them the VALUE of the car, one second before destruction. The amount you owe is NOT paid off unless you had Gap insurance. Therefore, if you did not have Gap insurance, you still owe the full loan amount minus the amount the insurance company paid! This is called "being upside down" in the deal which means you owed more than the car is worth. This condition is caused by YOU paying too low of a down payment, YOU stretching the term out way too long or YOUR lack of credit worthiness requiring financing by a subprime lender which is what this lender is!