Vehicle loan or lease -- Problems at the end of the loan or lease -- Complaint #5668172
Complaint Overview
Complaint ID: 5668172
Company: Westlake Services, LLC
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Problems at the end of the loan or lease
Sub-Issue: Problem related to refinancing
State: Colorado
ZIP Code: 816XX
Date Received: 2022-06-14T12:00:00-05:00
Date Sent to Company: 2022-06-14T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
At this point I am convinced that I am dealing with a fraudulent situation and that I was lied to in what was described as a loan transfer which was, in fact, a refinance of an auto loan that had been reduced to principal. I was approached by a Westlake representative offering me a " thank you offer for maintaining a pristine payment history ''. The offer was an incentive of {$2000.00} to transfer my account to another division for management and that while I would only incur interest on the {$2000.00} only. I asked upside down and backwards that this transfer would not incur any additional interest over the course of 3 days. Every single time I was told that it would be a transfer only, that it would not have any effect on my credit report and that I would only continue paying on principal ; my payment of $ XXXX/mo went up. Yesterday I find out that I had actually re-financed my loan and agreed to paying an additional {$11000.00} in interest. There is no sane person on EARTH that would agree to paying double interest on a loan?? Unless it was buried in the contract ... .and lied to horrifically and repeatedly. Westlake destroyed my entire credit history ; reporting that I owe two loans to them for a total amount of {$33000.00}. Within their process they have deleted my entire credit history, showing my old account as closed, which should be paid off if this was actually a re-finance correct? They can't seem to see the problem on their end ( further instance of fraud )? My last conversation with Westlake I requested a transcript of my conversations with them in association to this transaction and was told it would only be released for legal reasons. I explained that it was for legal purposes and was told they would not release it. I got them to admit on tape that they were denying me access to my account information and contact history. Apparently this 'transfer ' company has a different name yet appears to be operating under the Westlake banner. That said, this certainly points to fraud- why would I have two accounts unless ... ..I do... and that would explain a lot. One is real and one is fraud. doubling the interest charged through lies, deception and manipulation. Informatively, in my reporting them to the XXXX I found multiple complaints of the exact same circumstance of being ticked into re-financing a loan. I have reached out 3 times to the CEO via email since last month with no response. He did direct his Compliance Officer to respond to my initial email and I was treated like a child, talked down to and incredulousness that I had any concerns whatsoever. He basically said ; it's your fault and live with it. I appreciate you taking the time to review this information and I hope you an find out what is going on- thank you, XXXX
Frequently Asked Questions
What is Complaint #5668172 about?
Complaint #5668172 was filed against Westlake Services, LLC regarding Vehicle loan or lease specifically about Problems at the end of the loan or lease. It was received by the CFPB on 2022-06-14T12:00:00-05:00.
How did Westlake Services, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Westlake Services, LLC?
Yes, visit the Westlake Services, LLC company profile at readthecomplaint.com/company/westlake-services-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.