Consumer complaint received 2017-06-15
Company: Westlake Services, LLC
State: CA
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Struggling to pay your loan

Complaint:
These are additional issues experienced f rom Wilshire Credit a nd their unfair business practices.     On  XXXX / XXXX / 2017  I overnighted via certified funds cashier check #  XXXX  in the amount of {$2400.00} to the address on the payoff letter received fro m Wilshire Credit. The overnight confirmation is attached, along with the payoff letter received from Wilshire Credit. I called Wilshire Credit on t he afternoon of  XXXX / XXXX / 2017  after receiving confirmation that the payment was received from  USPS ( co nfirmation is attached ). I spoke to  XXXX  who said that she did not see my payment in the system, however I could call back the following morning to confirm if the payment was processed.     On  XXXX / XXXX / 2017  in the morning  XXXX  I call ed Wilshire Credit a nd spoke to  XXXX  who said they did not see any payment posted to my account on  XXXX / XXXX / 2017  and that it take s 7-10 bus iness days for a payment to be processed to the account and to call back to check if the payment posted. I called again the afternoon of the  XXXX  and was told by a representative that there was no payment posted as of yet.     On  XXXX / XXXX / 2017  in the morning  XXXX  I calle d Wilshire Credit an d spoke to  XXXX  she said she can see notes from past representative on my account that I sent in a payment of {$2400.00}. She asked what address I sent it to and I confirmed the address on the payoff letter that is attached to this complaint.  XXXX   XXXX   XXXX  #  XXXX   XXXX  advised me that is not their address for payments. I advised her that it was the address on the payoff letter. She said payoffs are handled differently than a regular payment and I advised her that then the letter should of indicated that and it did not. She told me that they always tell people if you mail the payment you should include more money to account for the interest. I advised that the payment was already confirmed received by them. I did contact  XXXX   XXXX  bank and as well confirmed that the cashier 's check was cashed  XXXX / XXXX / 2017  by Wilshire. She said that they do not show record of payment on my account. The representative advised me that I sent it to wrong address and there was no record of payment. She said she would take down my information and hopefully i n 7-10 day s the payment would post to my account. I advised that my payment was already confirmed received by their office and needed to be posted retroactively to the date the payment was received and I was told by her that I needed to add additional money for the interest. I advised that was unfair business practice and that if they received the payment on  XXXX / XXXX /   2017  it should be posted to my account on that day especially considering the bank already confirmed the check was cashed on  XXXX / XXXX / 2017 .   
1. Wilshire is e  ngaging in unfair and deceptive business practices. The payoff notice indicates an address to send a payment. When calling in to the customer support department you are advised the address on the payoff is not the correct address to send payment. This causes confusion to the consumer as the letter is specific to the address to send the payment and no further instructions are outlined within the context of the pay off notice to send the payment elsewhere. ( see attached  ) 2. Wilshire is charging customers interest for their inept accounting practices. When a consumer mails in payment to the address on the pay off notice customers are told by the customer service department to include additional days of interest in the payment to account for Wilshire 's delayed payment processing. Even when Wilshire has a confirmed receipt of payment by the USPS and confirmation from the bank that the payment instrument was cashed, Wilshire continues to ch arge interest beyond the date of receipt of final payment from   the consumer.
3. The payoff notice does not indicate there are delays in processing of payment or that it takes 7-10 days to post a payment to your account after receipt of the payment. Again this is unfair and deceptive to the consumer as the financial institute has already cashed the check and is unfairly causing confusion to the consumer by not acknowledging said payment within their ledger tracking. At minimum a general notification should be made to confirm a payment was received so accurate information can be reported to the consumer when calling i  n.     CFPB has already fined this company for illegal collection tactics. What about consumers who are actually paying their debts??? Their unfair and deceptive business practices are causing consumers to have to pay more in interest and fees, waste countless time and energy trying to track down their payments, unclear information being sent out to consumers on where to send payments by mail and from their customer support department, unfair accounting practices that leave consumers with interest accruing.

Company response to consumer: Closed with explanation