Car loan issues....
We have a Title loan with Wilshire Consumer Credit. These people are horrible and shady... and I have a long nighmarish history with them.
The current balance on the loan is just under $1000 at this point. The car is worth about $3500. We are current with the payments.
Here's what they've done. In order to "help us out" last year they changed the terms of the loan without my knowledge or permission. They dropped the monthly payment way down, but refuse to provide me written confirmation of these new terms. They called it an "internal revision" of the loan.
The best I've got are the billing statements that have the amount due each month --- clearly well below what they were last year before the "revision". I've been paying well above what they ask each month, but below the original contract.
I've requested copies of the contract documents multiple times. Most of the time, they ignore me, or they send me one page.
At this point, we're about to file our BK case (pro se). The car loan is the only account that we have that is current, and we need to keep the car.
We've discussed reaffirming the loan, but then... how in the world would that work? Would they present the original contract and try to convince the court that we're not abiding by it, even though I have a year's worth of billing statements showing the lower monthly payment? Their billing statements are also really sketchy... I wish I never took this loan, but that's another story.
Something tells me that they won't want to reaffirm the debt because that would mean filing a new contract with the court, and I suspect this company is violating all kinds of lending laws, so they won't do that -- especially given their reluctance just to give ME copies of documents. Does that mean they'd consider our petition filing as defaulting on the loan? If so... how can they even prove that given all of the "revisions" to my account that they refuse to give to me in writing. As I said, the best I've got are the sketchy billing statements where it clearly shows the amount due each month, and the fact that we are not past due.
Now, I know they just want their money and don't want the car. If I could just pay them off right now, I would.... but I can't. I can still make double the amount they ask for, but no more than that. At this rate, we won't have it paid off for another 4-5 months.
Does anybody know how Wilshire Consumer Credit handles BK filings? They're so freaking shady, I don't even want to bring it up to them yet that we're filing.
The current balance on the loan is just under $1000 at this point. The car is worth about $3500. We are current with the payments.
Here's what they've done. In order to "help us out" last year they changed the terms of the loan without my knowledge or permission. They dropped the monthly payment way down, but refuse to provide me written confirmation of these new terms. They called it an "internal revision" of the loan.
The best I've got are the billing statements that have the amount due each month --- clearly well below what they were last year before the "revision". I've been paying well above what they ask each month, but below the original contract.
I've requested copies of the contract documents multiple times. Most of the time, they ignore me, or they send me one page.
At this point, we're about to file our BK case (pro se). The car loan is the only account that we have that is current, and we need to keep the car.
We've discussed reaffirming the loan, but then... how in the world would that work? Would they present the original contract and try to convince the court that we're not abiding by it, even though I have a year's worth of billing statements showing the lower monthly payment? Their billing statements are also really sketchy... I wish I never took this loan, but that's another story.
Something tells me that they won't want to reaffirm the debt because that would mean filing a new contract with the court, and I suspect this company is violating all kinds of lending laws, so they won't do that -- especially given their reluctance just to give ME copies of documents. Does that mean they'd consider our petition filing as defaulting on the loan? If so... how can they even prove that given all of the "revisions" to my account that they refuse to give to me in writing. As I said, the best I've got are the sketchy billing statements where it clearly shows the amount due each month, and the fact that we are not past due.
Now, I know they just want their money and don't want the car. If I could just pay them off right now, I would.... but I can't. I can still make double the amount they ask for, but no more than that. At this rate, we won't have it paid off for another 4-5 months.
Does anybody know how Wilshire Consumer Credit handles BK filings? They're so freaking shady, I don't even want to bring it up to them yet that we're filing.
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