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."
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Wilshire has lied to me they with held information from me
Im on social security and i made it clear i only want the loan for 1 year turns out its 3 years at 6000.00 dollars on a 2500.00 loan on top of that i was never told they was gonna put s LIEN on my car unitl i was sent a new title from DMV. I DON’T KNOW WHAT TO DO PLEASE HELP
THANK YOU LINDA KILLION SCOTT
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Hello,
I have a title loan with Wilshire Consumer and recently they have been allocating extra payments into an interest accrual account, instead of principal balance as I have requested. I have called them numerous times and yesterday finally received explanation as to why they are allocating funds the way they are presently doing.
They never sent any documentation of the new changes, nor have they sent a revised contract stating how the payments will be applied. My principal balance has been the same for the past 3 months, and at the rate I am going, I will never be able to pay this loan off.
They are stating that the new process is any extra payments you make on your account, will first be applied to current interest and future interest, and then if anything else is left, it will be applied towards principal balance. This is not what I agreed upon when I was told by the loan officer that extra payments will be applied towards principal balance that way you can pay your loan off early.
This is not legal is it? I need someone to look into this, as I feel that they are taking advantage of many decent people who are making timely payments and are just stealing money from us,
Any changes made to current contracts should be acknowledged by the borrowers correct? This company is very shady and they will never call you back, or return calls. You have to harass them daily with calls regarding status on your account. They never let you speak to someone in accounting who manages the payments. They sent a payment history with all payments and in the beginning it was going towards principal balance.
Can someone please contact me and advise on whether there is something here to look into? Thank you kindly.