Complaint Review: WFS Financial - Santa Ana California

Hello ,

I found this website purely by chance this morning . I did a search to find WFS , so that I could check the loan amount my car is carrying . WOW ! I had no idea that so many people were being vitimized by this company !

I too have been ripped off by WFS Financial . I had my car fully insured BEFORE it even got home . I stopped at my insurance agents office on my way home and got the necessary paperwork filed that very day . He also called WFS to report that I had insurance while I was sitting there watching him .

They totally ignored this , and several months later sent me ONE letter saying that if I did not have insurance, they would place insurance on my contract. Of course, KNOWING that I had insurace, I thought it was just one of those letters that everyone gets when they have a loan with them , sort of an FYI letter. Boy was I wrong ! Even though I had insured my car the day I brought it home , THEY STILL CHARGED MY LOAN $1500.00 ! And they BACKDATED the insurance to the day of execution of the loan , so that as soon as I became aware of what they did , they had ALREADY ripped me off to the tune of about $500.00 ! ( I got the letter in September, the loan was executed the last day of May . And they had charged me starting that last day of May , but did not tell me until SEPTEMBER !!!)

I was furious ! They were charging me an additional 1500.00 for this insurance WHEN I ALREADY HAD INSURANCE !? ! I called my agent the day I got the notice . And he imewdiatly contacted them , and he called back assuring me that the matter had been taken care of . Was it ? Nope !

Their excuse, my card that was sent in to them by my agent was not the EXACT card they wanted ! Even though it shows that my insurance was in effect 1 day after the loan was executed, they still would not accept this as proof. They wanted a copy of the POLICY , not a card showing proof of insurance, ( That is good enough for the state ! Why not them ? )No ! They want different paperwork , that is not what is usually sent - therefore, giving them the excuse to charge insurance to the loan amount of honest, hard working people . And then they delay notifying you , so that they can charge you for their overpriced insurance !

Well , I got on the phone , and it took aboput 8 calls , I demanded that they send me a statement showing ALL activity to the penny with my account . ( according to Federal law , this is something they HAVE TO PROVIDE if requested ! )

Once I did this , THEN they agreed to take the insurance charges off my loan! Gee Whiz !Wonder why they are all of a sudden being so co-operative ! ?? The statement is PROOF of their wrongdoing , and they KNOW IT ! ) Thats why it worked so well !

This is one thing that people who are being victimized by this company need to do ! DEMAND THAT STATEMENT !!! The NEXT thing to do ? Go to your bank , get a loan , and pay them off, and tell them where to put their stupid insurance ! But keep ALL paperwork pertaining to them , as I just bet there will be a lawsuit over their underhanded practices .

Another thought - I saw on this website a rebuttle - stating that WFS pays for the insurance from an outside source , then charges it to us , and this person made it sound like this company is not making a dime off of this practice !!! GIVE ME A BREAK ! You gonna tell me that this corporate giant can't get really good insurance rates when they are buying these policies by the hundreds ? I have an EXCELLENT driving record , and I can have insurance that covers EVERYTHING - NOT JUST WFS'S interests ! And it is about 1/4 the cost ! I didn't fall off the turnip truck yesterday ! These people are making a KILLING offf this very illegal practice. And they are doing so because they can - noone has sued them yet, and it is time we did so ! Strength in numbers ~ SIGN ME UP !

Just let me know what to do !

Thanks !

Lonell

Excelsior Springs, Missouri
U.S.A.

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