Wilshire Credit Corperation Ripoff, According to my attorney, predatorney lending. Had to file chapter 13 to save my house! Portland Oregon
I had some problems in my business, and rather than file ch. 7, I thought the ethical thing to do was take out a home equity loan to pay my employees.
At some point, my loan was bought by Wilshire. I have never recieved a payment book. I was laid off a job and got a few months behind, made double payments for the ammt. of time they told me, sent the reg. payment the next mo., and was sent a forecloser notice.
They said it was supposed to be one more month of double pay, which is not what they had told me. They tacked on another approx. $6,000 in atty. fees, and told me I had to make double payments for another year. I did so, and at the end of the year, they tried to foreclose again (more fees) and said I owed more. Every time I tried to call, my calls were not returned.
I finally reached someone, and they said I had to pay several thousand to catch up. I agreed, and they said they would get back to me the next day. The next day, they wanted twice that, I said ok---they said we'll let you know tomorrow. The next day they more than doubled that ammt. Her words as she got off the phone with their atty.? "Class action, they don't even know what you owe."
I did not have that much, and filed bankruptcy. The funny thing is, my atty. says they must think they are my 1st mortgage, because they would have gotten nothing. She said their atty. said there was a problem with this acct. and did not know what I owed.
I would also like to participate in class action, as my atty. advised.
Kat
xxxx, Maryland
U.S.A.
3 Updates & Rebuttals
Cathie
Mechanicsville,Maryland,
U.S.A.
Get it in writing!
#4Consumer Suggestion
Mon, January 30, 2006
If you still have your atty.- get them to request a detailed acct. of payment history and purpose of charges. I still did not get a complete one, but after I put a statement in the court files, they came back with an accurate ammt. The extra money is probably due to "legal" fees." You will probably need to call their atty. office to get this info. When I called I was told I owed " a lot" and it would take weeks to figure it- when I filed my statement in court, suddenly within 4 days I had a corredt pay-off, but they would never give me the complete payment history. You may also call your ch. 13 trustee and explain the circumstances, tell them there are numerous complaints across the country with similar problems, and see if the trustee can get a straight answer from them. Best wishes, Kat
Angel
Paw Paw,Michigan,
U.S.A.
More information...please
#4Consumer Comment
Mon, January 30, 2006
We too had the exact same thing happen with work, etc...My husband filed Chap 13 to save the house...Rec'd one pay-off letter for 65000.00 and in 2 weeks another for 85000.00...20000.00 more...No one can give any answers as to the difference...Have been making payments of more than double over the last 10 months per bankruptcy and the pay-off amount hasn't changed since April of last year...I am at a total loss...Refinancing has been hard since we have no clue as to what the REAL payoff is...
Cathie
Mechanicsville,Maryland,
U.S.A.
resolved
#4Consumer Suggestion
Mon, October 17, 2005
I filed a statement with the bankruptcy court, detailing all of these problems, and immediately recieved a CORRECT payoff ammt. and re-fied through a private lender. Submit all your evidence in court. Detail possible violations of respa laws etc. Wilshire was very co-operative and helpful once I did that. Their correspondance seems more polite than previously.