Lobel Financial Corporation or LFC is a subprime auto lending company, which receives a lot of consumer complaints to our law firm for debt harassment. Find out who they are, why they might be calling, and how you can stop them.
What is Lobel Financial Corporation – LFC?
Lobel Financial Corporation or LFC is a third-party auto loan agency based in California. LFC has received consumer complaints alleging violations such as improper billing, collections, repossessions and communication tactics. If you have been contacted by Lobel Financial Corporation, make sure you understand your rights before taking action.
According to the Better Business Bureau (BBB), Lobel Financial Corporation was founded and incorporated in 1979. The BBB established its profile page in 2012. It describes LFC as a consumer finance and small business loan company.
According to its website, LFC is “a consumer finance company specializing in purchasing and servicing automobile loans from Independent and Franchised automobile dealers, who have non-prime consumers purchasing new and used automobiles.” The “four Lobel brothers” manage LFC, have “a combined 150 years’ experience in the industry” and “are active in its day-to-day operations…”
Lobel Financial Corporation website provides information for car dealers and car buyers. Its dealer pages inform site visitors that LFC is a “full spectrum lender” that provides its dealers with “instant auto financing” and makes it possible for dealers to submit their “buyers for quick approvals 7 days a week” through its online portal. Dealer program packets and more information is available by contacting LFS.
The car buyer pages inform site visitors that their “business is important” to LFC, but the information on the pages is limited to payment methods and addresses and phone numbers for customer service, collections, and the LFC legal department.
Lobel Financial Corporation website does not provide a lot of detailed information about its business practices or compliance policies. It also does not include standard information about information privacy and security.
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How many complaints are there against Lobel Financial Corporation – LFC?
The BBB has closed 92 complaints against Lobel Financial Corporation in the past three years, with 35 closed in the past 12 months. Most of those complaints allege problems with billing, collections, improper repossessions, and customer service. Since September 2012, the Consumer Financial Protection Bureau (CFPB) has received 139 complaints about LFC. Justia lists at least 11 federal civil lawsuits involving Lobel Financial Corporation.
Can you help me file a No Fee Lawsuit against Lobel Financial Corporation – LFC?
Absolutely. Here are some Sample Cases against Lobel Financial Corporation.
A BBB “Alert” on Lobel Financial Corporation’s profile page describes a “pattern of complaints” against LFC “concerning billing issues.” According to the BBS, “consumers are alleging that they are given 45 days to make their payments after they are due before repossession occurs, but many claim that the vehicles are taken before the timeline they were given, at times after payments have been made.” The BBB notes further that “the complaints allege that the is hanging up on consumers.” LFC did not respond to the BBB’s attempts to contact the company about “this pattern.” The 25 negative reviews on LFC’s B profile support these allegations.
In July 2017, a complainant indicated that Lobel Financial Corporation employees’ “demeanor toward customers” is “alarming.” The complainant alleged that the company charged him $60 per month above his car payment for two months, claiming he did not have insurance, even though he did have insurance and had, had it since he purchased the car. According to the complainant, he had been trying to deal with this issue with LFC for a month. He had called Lobel Financial Corporation every week and submitted proof of insurance via fax and hard copy,but he received only “excuses with no resolution.” Meanwhile, the “company’s collections unit continued to call him” and threaten to “report this issue onto his credit.” The complainant indicated that LFC “employees do not read case notes or follow up on” the issues consumers dispute.
In November 2016, a complainant alleged that Lobel Financial Corporation repossessed his car in 2003 and that the complainant then did not hear “another word” from LFC. Years later, with a negative report still on his credit report, the complainant inquired about the statute of limitations and learned that LFC had filed a court case to collect the claimed deficiency on his auto loan. When the complainant asked LFC why it had not notified him of the court filing or hearing date, Lobel Financial Corporation “returned” to “court and added another 10 years to the original court documents.” According to the complainant, he complained to the BBB, “brokered” a settlement with LFC through the BBB by agreeing to pay LFC $3350.00 upon the sale of his house, but when his house sold, LFC took more than $6600 from the proceeds and failed to credit $800 in payments the complainant had made before the closing on the house. The complainant indicated that Lobel Financial Corporation received more than $4000 more than it agreed and that LFC had “taken advantage” of him as a “senior citizen living on a fixed income.”The BBB listed the complaint under the heading, “the business responded to the dispute but failed to make a good faith effort to resolve it.”
Lobel Financial Corporation Contact Information
Lobel Financial Corporation
1150 N Magnolia Ave
Anaheim, CA 92801-2605
Telephone: (714) 995-3333
Website: http://www.lobelfinancial.com/
Lobel Financial Corporation LFC Calling You?
Understanding Your Debt Collection Rights
Consumers are protected from abusive debt collectors from the Fair Debt Collection Practices Act (FDCPA). By way of instance, the debt collector must identify himself or herself, who they’re working for, and what debt they’re collecting. The FDCPA claims that debt collectors can’t use any deceptive or misleading representation, like implying the debt is secured by the USA or any particular state. Additionally, they can’t use a badge or uniform to pretend they’re a government employee collecting a debt. Misrepresentation is a violation of the FDCPA and could be reported as such.
In case you’ve been a victim of a debt collector’s wrongdoing, then you can search for justice under the FDCPA. You have the right to pursue a claim against the debt collector; if you prevail, you can collect up to $1,000, plus attorney fees and court costs.
Want to Stop Lobel Financial Corporation Debt Collection Harassment Now?
Your debt harassment checklist:
You are receiving multiple calls per week from third party collection agencies
You are receiving early morning or late night calls from debt collectors
You are recieving calls at work from a debt collection agency
Debt collectors are calling your friends, neighbors, or coworkers
Collectors are threatening you with violence, a lawsuit, or arrest
A debt collector attempts to collect more than you owe
You are being threatened with negative credit reporting
A debt collector attempts to intimidate you
Criminal accusations are being made towards you
Use of obscene language during an attempt to collect
Automated robocalls are being made to your phone in an attempt to collect
If you’ve been harassed by debt collectors and even one of these has happened to you, we can help. We will fight for your rights.
The Lemberg Law legal team is committed to holding debt collectors accountable, so complete our form for a FREE case evaluation, or call 844-685-9200.
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Can You Help Me Delete Lobel Financial Corporation LFC from My Credit Report?
We can absolutely help. Call us today.
Can Your Firm Help me Deal with Lobel Financial Corporation?
The short answer is yes. Contact us now to find out more.
Sound Off!
Have you had a bad experience with this agency’s debt collectors? Sound off and share your experience with other visitors in the comment box below.
About the Author:
Sergei Lemberg is an attorney focusing on consumer law, class actions related to automotive issues, and personal injury litigation. With nearly two decades of experience, his areas of practice include Lemon Law (vehicle defects), Debt Collection Harassment, TCPA (illegal robocalls and texts), Fair Credit Reporting Act, Overtime claims, Personal Injury cases, and Class Actions.
He has consistently been recognized as the nation's "most active consumer attorney." In 2020, Mr. Lemberg represented Noah Duguid before the United States Supreme Court in the landmark case Duguid v. Facebook. He is also the author of "Defanging Debt Collectors," a guide that empowers consumers to fight back against debt collectors and prevail, as well as "Lemon Law 101: The Laws That Lemon Dealers Don't Want You to Know."
Hello I financed a car thru lobel in 2021 made all of my payments till December of 2022 fell behind a half of payment. But made the next months payment in full well before I could make the next month’s payment they repoed my car and charged me 1807.00 dollars! To get my car out! The tow company they used to repo my car damaged severely by dragging down my driveway my car is a Mercedes benz and to have it repaired will cost alot of more money do I have a case?
Kathryn M
I purchased my first car in Nov. 2018 lobel was the financing company. My first payment was Due Dec 10th. I made the payment late on Dec 23rd. I received my statement for Jan on Dec 28th stating they received my payment and my next payment was due Jan 10, 2019. Other than that statement I received nothing further saying there was any issues. On Jan 3 I went outside to go to my car to Drive to work and it was gone. I find out it has been repoed. I was completely confused. I called lobel and tried to find out what was going on, they told me I needed to speak to a specialist buy none were available and they would call back by the end of the day I heard nothing a called again still no answers. This went on for a week before I got to speak to the specialist. They said my payment was returned. And they called me several times to resolve the issue I had zero calls from them. My bank says the payment was never even taken out. Regardless of that I wanted to know what it would take to get my car back they told me I had the pay the full balance which was more than $20k. I just put $6000 down a little over a month ago and that took me a long time to save. I also paid $868 to get insurance started that’s deposit and premium payment.Which is a complete waste I didn’t even have it for more than a month. I told them there’s no way I can do that and I want to speak to someone about this. For weeks I called and tried to speak to a supervisor or anyone to resolve this and I was hung up on after hours of waiting, laughed at and literally not listened to it was like speaking to a machine. After this happened I saw they have done this to so many people. My payment even if I didn’t make it was not even 30days past due and they took my car. The repo company who took my car would not let me get my tools for work, my work I.D., daughter’s car seat, stroller or gun out without paying $150 plus $15 everyday after to get the items out. I feel robbed and can’t believe this is even illegal. Something needs to be done about what they are allowed to do to people.
Christina C
I was sold a lemon by a car dealership that just disappeared. The car stopped running the first week we bought it. We took it back , they got it to run and then a couple weeks later it stopped running again. The dealership had been shut down . We voluntarily gave back the car to Lobel. I could not afford payments on a car that did not run . They sold the car and charged me for the difference. I have been paying 50 dollars per month for 5 years . Recently the charge for more than I paid for the car showed up on my credit like I never paid anything . It looks like I need a lawyer .
Cynthia P
We had a car repoed around 10+ years ago. We never received notice of any money due so assumed it was evened out. Lobel was the finance company and there was never anything on our credit reports that we owed money. Then recently, a friend of ours recieved a notice from the sheriff’s department claiming a lein on my hubands paycheck! (He does not work for this man.) But the point it – we had been sued, never informed we owed anything on the repoed car, they won in court (thanks to no notification to us), and they claim we owe over $10k (I think we bought the used car for around 8K and paid for a year or so?) They claimed they served us on a particular date – however upon checking husband’s credit report the address for us at the time did not coincide with the address they claimed to have served us. Can we fight this?
Hello I financed a car thru lobel in 2021 made all of my payments till December of 2022 fell behind a half of payment. But made the next months payment in full well before I could make the next month’s payment they repoed my car and charged me 1807.00 dollars! To get my car out! The tow company they used to repo my car damaged severely by dragging down my driveway my car is a Mercedes benz and to have it repaired will cost alot of more money do I have a case?
I purchased my first car in Nov. 2018 lobel was the financing company. My first payment was Due Dec 10th. I made the payment late on Dec 23rd. I received my statement for Jan on Dec 28th stating they received my payment and my next payment was due Jan 10, 2019. Other than that statement I received nothing further saying there was any issues. On Jan 3 I went outside to go to my car to Drive to work and it was gone. I find out it has been repoed. I was completely confused. I called lobel and tried to find out what was going on, they told me I needed to speak to a specialist buy none were available and they would call back by the end of the day I heard nothing a called again still no answers. This went on for a week before I got to speak to the specialist. They said my payment was returned. And they called me several times to resolve the issue I had zero calls from them. My bank says the payment was never even taken out. Regardless of that I wanted to know what it would take to get my car back they told me I had the pay the full balance which was more than $20k. I just put $6000 down a little over a month ago and that took me a long time to save. I also paid $868 to get insurance started that’s deposit and premium payment.Which is a complete waste I didn’t even have it for more than a month. I told them there’s no way I can do that and I want to speak to someone about this. For weeks I called and tried to speak to a supervisor or anyone to resolve this and I was hung up on after hours of waiting, laughed at and literally not listened to it was like speaking to a machine. After this happened I saw they have done this to so many people. My payment even if I didn’t make it was not even 30days past due and they took my car. The repo company who took my car would not let me get my tools for work, my work I.D., daughter’s car seat, stroller or gun out without paying $150 plus $15 everyday after to get the items out. I feel robbed and can’t believe this is even illegal. Something needs to be done about what they are allowed to do to people.
I was sold a lemon by a car dealership that just disappeared. The car stopped running the first week we bought it. We took it back , they got it to run and then a couple weeks later it stopped running again. The dealership had been shut down . We voluntarily gave back the car to Lobel. I could not afford payments on a car that did not run . They sold the car and charged me for the difference. I have been paying 50 dollars per month for 5 years . Recently the charge for more than I paid for the car showed up on my credit like I never paid anything . It looks like I need a lawyer .
We had a car repoed around 10+ years ago. We never received notice of any money due so assumed it was evened out. Lobel was the finance company and there was never anything on our credit reports that we owed money. Then recently, a friend of ours recieved a notice from the sheriff’s department claiming a lein on my hubands paycheck! (He does not work for this man.) But the point it – we had been sued, never informed we owed anything on the repoed car, they won in court (thanks to no notification to us), and they claim we owe over $10k (I think we bought the used car for around 8K and paid for a year or so?) They claimed they served us on a particular date – however upon checking husband’s credit report the address for us at the time did not coincide with the address they claimed to have served us. Can we fight this?