Complaints

• Initial Complaint

  12/02/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I am writing to formally address a grave violation of the Fair Credit Reporting Act (****) concerning the auto loan linked to my Consumer Portfolio Services, Inc. account. This issue has lingered despite my prior communications, and immediate action is required to rectify it.Under 15 U.S. Code 1681b(a)(2), a consumer reporting agency must not furnish a consumer report without a permissible purpose. The reporting of the auto loan has been inaccurate, and I have received no pertinent information regarding the vehicle. Additionally, I have not been provided with the legally mandated 1099-C form for accounts reported as written off.This marks my fourth complaint on this issue, highlighting your company's blatant disregard for the rights of both myself and my wife as consumers. Such negligence in adhering to federal laws is unacceptable and constitutes a clear violation of the FCRA.I demand the immediate removal of this erroneous information from my credit report. Your continued failure to comply not only jeopardizes our financial integrity but also exposes your organization to potential legal consequences.I expect prompt acknowledgment of this request and confirmation of the necessary corrections. Should you fail to respond adequately, I will have no choice but to escalate this matter to the appropriate regulatory authorities.Sincerely, ***** ******** and ***** ********

  Business response

  12/04/2024

  Consumer Portfolio Services***** (***) has reviewed the complaint and the account. Our records show *********** and ***** ******** (the Customers) signed and entered a Retail Installment Sale Contract on November 20, 2022, with CPS, for the purchase of a 2015 Nissan Rogue. A copy of the Contract is attached. *** has forwarded the part of the complaint to our Credit Reporting Response Team. Per their investigation, they have concluded that CPS is furnishing the information to the credit bureaus accurately. *** charged-off the account on April 29, 2024 due to the severe delinquent status. As of the date of the charge-off, the account was 185+ days delinquent and past due for the November through April payments. Please note, the charge-off is not a cancellation of debt, but rather an internal accounting decision. The Customers are still responsible for the debt after charge-off,and will not receive a 1099-C. The Customers may find this article by Experian helpful to understand a charge off: ********************************************************************* questions about how individual credit bureaus reflect the information furnished by *** must be directed to the respective credit bureau. 

• Initial Complaint

  11/27/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  On Wednesday November 20 2024. I received a call from a gentleman name ******* *********. As we spoke he mentioned to me that he worked previously for consumer portfolio services. I asked him if I had authorized him to call me he said no. I then asked how was he able to get my information? He stated that he was able to get my information from his previous employer which is consumer portfolio services.I am extremely bothered and concerned over this matter since my address, social security number, employment, and other personal information was obtained by this individual due to negligence and security by Consumer portfolio services

  Business response

  12/12/2024

  Consumer Portfolio Services, Inc. (CPS) is investigating the customers claims related to its former employee. As a gesture of goodwill, *** is willing to settle the remaining balance on the account. The Customer must agree and sign a Settlement Agreement and Release of All Claims. Please contact one of our Managers, ***** *******, at ************, for details.

  Customer response

  12/26/2024

  I have a question. May I counter their offer? Dealing with this scenario created extreme levels of concern and fear. Not only for myself but for my family.

  Customer response

  01/06/2025

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ******* *******

  Customer response

  01/06/2025

  So I accepted their offer.....what steps do I need to take? Do I contact them to sign paperwork?

• Initial Complaint

  11/26/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Dear BBB,I am disputing an unauthorized account on my credit report related to CONSUMER PORTFOLIO SERVICES, with the account number *********** and a reported date of 01/16/2020.I am a victim of identity theft, and I did not open or authorize this account. After reviewing my credit report, I discovered that this account was fraudulently opened in my name. I have already reported this incident to *****************, and I am working to resolve the matter with the relevant authorities.I kindly request that you assist me in investigating this matter and removing the unauthorized account from my credit file.Thank you for your assistance.

  Business response

  12/04/2024

  Consumer Portfolio Services, Inc. (CPS) has reviewed the complaint. Our records show the customer signed a Retail Installment Contract and Security Agreement on January 16, 2020 for the purchase of a 2016 Acura MDX. If ****** Marine believes this is a matter of identity theft, please submit all relevant documentation send it to our Credit Report Response Team for investigation at Consumer Portfolio Services, Inc., Attn: Credit Report Response Team, P.O. ***************************. Please note *** must report accurate information to the credit reporting agencies and cannot remove accurate information.

• Initial Complaint

  11/25/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have attatched the full letter to the company regarding my complaint. The company and I had settled with an agreement which included deleting the account from my credit report (ONLY) if I held up on my part of the agreement and not miss any payments and pay what was discussed. I did not miss any payments and the account was rendered satisfactiory by the company and I was informed that the account would be deleted to keep from having a negative **** on my credit report. The company did not delete the negative account as promised in the agreement and is still showing a negative **** on my credit report.

  Business response

  12/04/2024

  Consumer Portfolio Services, Inc. (CPS) reviewed the complaint and attachments. Our records show the customer fulfilled the settlement arrangement on September 28, 2022. *** mailed a letter, dated October 5, 2022, confirming that the accounts outstanding balance had been settled and stated CPS reported the appropriate settlement code to the credit reporting agencies. *** has forwarded part of the complaint to our Credit Reporting Response Team. Per their investigation, they have concluded that CPS is furnishing the information to the credit bureaus accurately. Any questions about how individual credit bureaus reflect the information furnished by *** must be directed to the respective credit bureau. For more information on the information furnished by ***, you may contact our Credit Reporting Response team at ************. A copy of the referenced letter is attached. 

  Customer response

  12/06/2024

   
  Complaint: 22589862
  
  I am rejecting this response because:  ************ "Consumer Portfolio Recovery, Has a known history in breaking laws under the **** (Consumer Financial Protection Act), as well as the ***** (Fair Debt Collection Practices Act). Their history is well documented and they are known for minipulation practices to get consumers to pay by providing false promises once the debt is cleared by the consumer. I held up my end of the agreement and now its time for them to act on the promise and agreement set both by I as the consumer and Consumer Portfolio Recovery as a business and that was that the information reporting on each of the credit reporting agencies would be removed therefore not impacting any negative remarks on my credit report.  Please review the link below;

  *****************************************************************************************************************
  
  Sincerely,
  
  ***** *******

  Business response

  12/12/2024

  Consumer Portfolio Services, Inc. (CPS) reviewed the complaint. *** notes that the Customer states that *** agreed to deleting the tradeline upon completion of the settlement arrangement. A review of the account confirms this to be untrue. Our records show the Customer fulfilled the settlement agreement on September 28, 2022. CPS mailed the Customer a letter, dated October *******, which states This letter is to confirm that on 09/28/2022 ***** E ******* *** ******* S ******* had paid on the aforementioned account to settle the outstanding balance. Consumer Portfolio Services, Inc. reported the appropriate settlement code to the credit reporting agencies. Please note,Consumer Portfolio Services, Inc. has no control over when the update will be reflected on a credit report. A copy of the referenced letter is attached. *** has forwarded part of the complaint to our Credit Reporting Response Team. Per their investigation, they have concluded that CPS is furnishing the information to the credit bureaus accurately. As a gesture of goodwill, *** will send an update to the credit bureaus to delete the tradeline. Please note, *** has no control over how or when the bureaus report this update. Please note, *** has no control over how or when the bureaus report this update. Any questions about how individual credit bureaus reflect the information furnished by *** must be directed to the respective credit bureau. For more information on the information furnished by CPS, you may contact our Credit Reporting Response team at ************.
  

• Initial Complaint

  11/25/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I file dispute against this account cause it was in bankruptcy Chapter 13 and this account was included in the Bankruptcy 13 and this amount i.m dispute Auto Loan Balance.....my debt is clean with this auto loan.... Dispute....and it's hurting my credit report and a law suit will be file if this amount is not removed....from my credit report

  Business response

  11/26/2024

  Consumer Portfolio Services***** (***) reviewed the complaint. Our records show that ******* ***** filed a complaint with the Better Business Bureau on June 12, 2024. CPS notes the case number for the referenced complaint is ********. As mentioned in our previous response, the customer signed a Retail Installment Sale Contract on May 26, 2021 for the purchase of a 2013 ******* ******. *** reviewed the customers bankruptcy filing from the Public Access to Court Electronic Records via **********************. It was confirmed that the customer filed a chapter 13 bankruptcy on July 10, 2018, which was discharged on October 26, 2023. *** was not amended into schedules as part of the discharge within the case. As a result, the customer is required to fulfill their existing obligations unaffected by their recent complaint and any prior bankruptcy filings. *** had forwarded part of the complaint to our Credit Reporting Response Team. Per their investigation, they have concluded that the tradeline reflects accurate information furnished by ***. Any questions about how individual credit bureaus reflect the information furnished by *** must be directed to the respective credit bureau. For more information on the information furnished by CPS, you may contact our Credit Reporting Response team at ************. 

• Initial Complaint

  11/25/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I hate this company so much already and my contract is fairly new. My payments are due on the 6 of each month however due to car repairs being 2000 I had to make my pmt 2 weeks late. My pmt was due November the 6 and I paid it in full November 22. They are still saying I owe a balance for my November payment when I offered to send in my bank statement to prove I paid the payment in full and I set up auto pay for the next payment. The agent claimed she didnt see any of this. I even have a text that confirmed I set up auto pay. I asked can the late fee be waived because the agent said I was 5 dollars short and I did not want to pay a processing fee of 4 dollars for 5 dollars. They gave me so many problems. I can not wait until 6 months so I can refinance. I have interest bearing loan and they are charging me 22%. I dont encourage no one to get a loan through them. Just wait until you fix your credit. This is the worst loan company ever.

  Business response

  12/11/2024

  Consumer Portfolio Services, Inc. (CPS) reviewed the complaint and attachments. Our records show the customer signed a Retail Installment Sale Contract (the contract) on August 22, 2024 for the purchase of a 2022 ALFA Romeo ******** Per the signed contract, the customer agreed to pay *** the principal amount of $25,524.60 plus finance charges accruing on the unpaid balance at the rate agreed upon the contract, per year from the date of the contract until paid in full. For clarification, the customer signed a simple interest contract where the payment is first applied to the accrued interest and then the principal. Simple interest is based on the customers agreed annual percentage rate and the principal balance on the account. A review of the account shows the November 2024 payment was originally due on November *******. The account was assessed a late fee on November 19, 2024 as a result of no payment being received. The customer made a $350.00 payment on November ******* and a $312.00 payment on November 22, 2024. As of today, the next monthly payment of $635.44 is due on December 20, 2024. As a one-time courtesy and gesture of goodwill, *** waived the late charge that was assessed in November.Per the signed contract if payment is not received in full within 10 days after it is due, you will pay a late charge of $15 or 5% of the part payment that is late, whichever is greater. To avoid a late charge, the customer must make the full payment owed before the last day of the grace ******* For more information, or further explanation on the account, late charge and/or grace ******* please contact the *************************** at ************.

• Initial Complaint

  11/22/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Subject: Request for Removal of Unauthorized Credit Inquiry I am writing to dispute an unauthorized credit inquiry by your company that appears on my credit report. I did not authorize Consumer Portfolio Services or any affiliated party to access my credit information or conduct a hard inquiry.This inquiry is negatively impacting my credit score, and as per the Fair Credit Reporting Act (FCRA), only authorized inquiries are permissible. I kindly request that you remove this inquiry from my credit report ************** assist with the resolution, I have attached a copy of my credit report highlighting the unauthorized inquiry, along with any other relevant documentation. Please confirm once this issue has been resolved.Thank you for your prompt attention to this matter.Sincerely,***** ******* [Contact Information]Let me know if youd like any adjustments!

  Business response

  11/26/2024

  Consumer Portfolio Services, Inc. (CPS) reviewed the complaint and attachment. Please note, *** will only address parts of the complaint that pertain to ***. Our records show that ***** ******* applied for an auto loan on November 22, 2024 with ************************ Cars for the purchase of a 2017 JEEP Wrangler. *** received the credit application electronically. Ultimately, *** did not finance ***** *******. If ***** ******* believes that this application was sent in error or believes this is a matter of identity theft, please submit all relevant documentation send it to our Credit Report Response Team for investigation at Consumer Portfolio Services, Inc., Attn: Credit Report Response Team, P.O. ***************************. Please note *** must report accurate information to the credit reporting agencies and cannot remove accurate information.

• Initial Complaint

  11/22/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Purchased a vehicle from World *** in ******. I was approved for the vehicle to be financed through Consumer Portfolio Services on October 30th, 2024. I paid my down payment of $600.00. Stating my car note would be $487. On November 5th I received a call from *** asking my information and telling me how I am able to make payments. November 21st, 2024 I take my car in for service. When I pick my truck up Im told to go to the finance department. When I go in he tells me that the bank denied my loan and they dont get paid for the car. I asked him when did he receive this information he says yesterday. I have not been reached out t by CPS or World *** about this Information and have had the car since October 30th.

  Business response

  11/26/2024

  Consumer Portfolio Services, Inc. (CPS) reviewed the complaint. Our records show that **** ****** and a ********* ****** applied for an auto loan on October 30, 2024 with ***************** CPS has attached a copy of the credit application. Please note, *** redacted the applicants information for security purposes. *** initially approved the joint credit application with ********* ****** listing their rent as $560.00. Upon further review, *** identified that ********* ****** is the homeowner and has a monthly mortgage payment of $1,526.00. **** and ********* no longer qualified as their debt ratio increased. CPS mailed the Adverse Action notice on/around November 21, 2024.  A copy is attached for reference. 

  Customer response

  12/02/2024

   
  Complaint: 22590419
  
  I am rejecting this response because: From what I understand we were approved which is how I drove off with the vehicle 10/30/2024. Received a phone call 11/05/2024 1:38pm from the finance company congratulating on the car purchase. As well as how payments and such can be made. Your response stated you all sent a denial letter November 21st, 2024. That's almost a month after the purchase. Was the dealership notified in advance of this? Why wasn't a phone call given or a letter sent out sooner? When was the decision made of a denial?
  
  Sincerely,
  
  Jada Boston

  Business response

  12/12/2024

  *** reviewed the additional correspondence. A review of the credit application, subsection AGREENMENT,states You certify that the information on the application and in any other application submitted to us, is true and complete.  It also states, You agree that the dealer and the financial institutions may verify your employment, pay, assets and debts. As previously stated, *** initially approved the joint credit application with ********* Boston listing their rent as $560.00. When *** identified that ********* Boston is the homeowner and has a monthly mortgage payment of $1,526.00, **** and ********* no longer qualified as their debt ratio increased. Please note, CPS is required to notify an applicant of action taken within 30 days pf receiving a completed application concerning CPSs adverse action on the application. CPS mailed the adverse notice 23 days from the date the credit application was received. 

• Initial Complaint

  11/18/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Dear BBB,I am filing a complaint about a fraudulent account reported by CNS Portfolio Services on my credit report. This account was opened without my authorization, as I am a victim of identity theft.Details of the fraudulent account:Company Name: CNS Portfolio Services Account Number : ***********Date Opened: 12/10/2021 I have reported this case to ***************** and enclosed the Identity Theft Report and other relevant documents. Please assist me in addressing this matter and having this account removed from my credit report.Thank you for your time and assistance.

  Business response

  11/20/2024

  Consumer Portfolio Services, Inc. (CPS) reviewed the complaint. Our records show that **** ****** applied for an auto loan at ******* ******* ***** in ********, *********. **** ****** signed a Retail Installment Sale Contract on December 10, 2021 for the purchase of a 2017 ***** Accord. If **** ****** believes that this is a matter of identity theft, please submit all relevant documentation send it to our Credit Report Response Team for investigation at Consumer Portfolio Services, Inc., Attn: Credit Report Response Team, P.O. ***************************. *** notes a review of the attached ************************ Identity Theft Report shows **** ****** discovered the fraud began in November 2024.

• Initial Complaint

  11/14/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Our vehicle was repossessed in ******** due to non-payment following our Chapter 13 bankruptcy filing. The vehicle was repossessed on October 31st, but we did not receive formal notice until November 13thwell after the required five-day notice period. Upon receiving the notice, it contained information only about the auction location, with no details on where we could retrieve our personal belongings and license plates from the repossession company.Although the letter was dated November 4th, tracking from Informed Delivery shows that it was not sent until Friday, November 8th. We received a notice to pick up the certified letter on Tuesday, November 12th and retrieved it on Wednesday, November 13th. This timeline indicates non-compliance with the notification requirements. Additionally, we have left voicemails but have not received a response from the company.Due to this lack of compliance, we are unable to cancel the car insurance, and we remain liable if anyone uses the license plates still attached to the vehicle. We will also be notifying the *** tomorrow about these circumstances to explore any recourse available for removing our liability.While we are not necessarily seeking the return of the vehicle, as its inclusion in our bankruptcy case remains uncertain, we are requesting access to our personal belongings and devices inside the vehicle, which the company has, to date, declined to provide. We also intend to file a formal complaint with the ******************************* regarding these concerns.

  Business response

  11/20/2024

  Consumer Portfolio Services, Inc. (CPS) has reviewed the complaint, attachments and the account. Our records show the customer signed a Retail Installment Sale Contract on June 15, 2017 for the purchase of a 2013 *** 528XI. As a result of default and allowed per the signed contract, *** repossessed the vehicle on October 31, 2024. The customer may contact ******************** to schedule an appointment, to retrieve any personal property, at *************. A review of the bankruptcy records reflects the customers chapter 13 bankruptcy was filed on November 12, 2024. *** received notice of the bankruptcy filing on November 14, 2024. Please note that *** has provided this information to the customers bankruptcy attorney. CPS notes the file titled, ***** Informed Delivery - Your Daily Digest for Mon, 11_12 is ready to view.pdf, shows the certified mailing from CPS. A review of the envelope reflects a post **** date of 4 NOV 2024. Please note that the post**** will show the location and the date the envelope was accepted at the post office. *** has no control on the delivery from the mail carrier. 

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩