Consumer complaint received 2025-07-27 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: Consumer Portfolio Services, Inc.
State: CA

Complaint narrative:
I am filing a complaint against Consumer Portfolio Services , Inc. ( XXXX ) regarding multiple violations connected to a vehicle loan they claim to service. On XX/XX/year>2025, I sent XXXX a formal Notice of Arbitration and Tender of Negotiable Instrument disputing the debt and asserting that my obligation had been lawfully discharged. The notice was delivered on XX/XX/scrub> 2025, confirmed by XXXX tracking. While their response is dated XXXX the letter is postmarked XX/XX/XXXX way past the deadline of the notice sent while XXXX XXXX ( as trustee ) has replied XXXX failed to acknowledge or respond to my arbitration notice in good faith. On XX/XX/scrub> 2025, they issued a generic and dismissive response letter, failing to : Engage in arbitration as contractually required ( despite a clear arbitration clause in our Retail Installment Sales Contract ) Investigate my tender of payment using a negotiable instrument under UCC 3-603 and 3-501 Address my billing dispute or verify the accounting of my payments Additionally, I experienced a billing error involving a double payment, which was not properly resolved. Despite bringing this issue to XXXX 's attention, they failed to credit the overpayment correctly or provide any clear explanation. My request for a payment ledger and full accounting remains ignored. This directly violates : TILA and the Fair Credit Billing Act ( 12 CFR 1026.13 ) creditors must acknowledge billing errors within 30 days and investigate within 90 days UCCC 5.109 which requires prompt correction and fair handling of consumer billing errors UCCC 5.110 which prohibits collection or enforcement on amounts that are inaccurate or improperly applied Instead of investigating these issues, XXXX responded with a letter referring to my lawful tender and dispute as buried treasure, and stated that future correspondence on the matter may be ignored. This is a clear violation of their duty under both federal and state consumer credit laws, and reflects bad faith and deceptive conduct. 
I also have reason to believe XXXX is misrepresenting their role as creditor. The Retail Installment Sales Contract I signed lists XXXX XXXX  as the creditor, yet I was contacted by XXXX and sent payment demands just days later. I later discovered through dealer agreements and SEC filings that XXXX immediately purchases these contracts and securitizes them. This means : XXXX may be the true original creditor, and failed to disclose itself in violation of TILA ( 15 U.S.C. 1631 ) and Regulation Z ( 12 CFR 1026.17 ) My contract may have been sold into a trust without proper assignment notice or standing, creating enforceability and jurisdiction issues I have requested : A full accounting of payments under UCC 9-210 Copies of the original note, chain of title, and assignment documentation Confirmation of whether my account has been securitized Proof that my double payment was credited or refunded To date, none of these requests have been honored.

Company response to consumer: Closed with explanation