- Report: #275119
Complaint Review: Wilshire Credit Corporation - Atlanta Georgia
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Wilshire Credit Corporation
wfsg.com Atlanta, Georgia, U.S.A.
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Wilshire Credit Corporation "The Money's Not Coming in Fast Enough" Atlanta Georgia
After dealing with Wilshire Credit Corporation for one year, they sent us a letter stating we needed to immediately call them because they wanted to discuss a payment situation. My husband called them and they pulled out paperwork my husband filled out a year before and stated to my husband that according to the paperwork he filled out a year ago, we now have an extra $1,000 a month available. And because of this, they wanted to increase our payments because "the money wasn't coming in fast enough."
My husband went bullistic on the phone. He argued with the man that we do not have an extra $1,000 a month and that we could not afford to have our house payments raised any higher than they were at the present time. My husband explained to the person on the other end that we were struggling to pay the payments as they were. The guy stated he didn't want to hear that and that their paperwork on us showed we could afford to pay them more money monthly.
My husband gave him a list of all our bills, letting him know that we were pretty much behind on pratically everything else because we were trying to pay them. My husband argued with this man for at least an hour and a half. My husband became extremely upset with this man. They were exchanging harsh words with each other.
Finally, the man reluctantly agreed with my husband that we can't afford to pay any extra and he stated that our payments will stay the same for one more year. He even suggested to my husband to start looking into other credit companies to pay off the loan with them so that they can get their money in full.
Theygotustoo
Richmond, Virginia
U.S.A.
My husband went bullistic on the phone. He argued with the man that we do not have an extra $1,000 a month and that we could not afford to have our house payments raised any higher than they were at the present time. My husband explained to the person on the other end that we were struggling to pay the payments as they were. The guy stated he didn't want to hear that and that their paperwork on us showed we could afford to pay them more money monthly.
My husband gave him a list of all our bills, letting him know that we were pretty much behind on pratically everything else because we were trying to pay them. My husband argued with this man for at least an hour and a half. My husband became extremely upset with this man. They were exchanging harsh words with each other.
Finally, the man reluctantly agreed with my husband that we can't afford to pay any extra and he stated that our payments will stay the same for one more year. He even suggested to my husband to start looking into other credit companies to pay off the loan with them so that they can get their money in full.
Theygotustoo
Richmond, Virginia
U.S.A.
1 Updates & Rebuttals
Anna B
Palm Desert,Oregon,
U.S.A.
Wilshire credit forbarence plans
#2Consumer Comment
Fri, September 28, 2007
I am responding to the woman who stated that a representive from Wilshire demanded an increase of her payment, to which she was unable to afford. She stated that she contacted Wilshire before asking for help, and was refused to lack of income. I do not work for Wilshire, I have however worked for another servicing company. This is how it works. A servicing company is not a bank- they are collecting money for the investors.The company has to service the "Note" as is is writtem they do not have the liberty to change the terms. When you call the company and ask for "help" -they are unlikely to do much. (They are acting as a debt collector. You can't go back to the investor) If you find yourself not being able to afford the payment then it is time to refi or try to sell. You are living beyond your means. A servicing company is not social services nor to they have an entitlement program. YOU CAN'T AFFORD YOUR HOUSE. They want their money- and you are under a legal binding contract to pay it back. When the rep asked to increase your payments to catch up, that means that what they saw was disposable income, that could be used to catch up the payments, it's a forberance and that would stop any forclosure proceedings and allow you time to refi or sell your house. Nobody "got you" - if you are showing you have another 1,000 coming a month and you can hardly afford to make the payments, you better sell. Your mortgage company deserves to be paid. No one is trying to scam you- check the note you signed. You were notified because you were behind, any company is not obligated to offer you any payment plan- you are in default. Do you see how that works?
