Consumer complaint received 2025-11-19 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem with the payoff process at the end of the loan — 
Company: Monterey Financial Services LLC
State: CO

Complaint narrative:
My goal with this correspondence is to receive intervention whereby Monterey will accept an account payoff ( the last 2 payments of our agreement ). Currently, they place unbelievable barriers to accepting payment in an effort to gain access to my checking account whereby they can deduct what they want.

I entered into an agreement to pay Monterrey Fnancial {$57.00} per month to pay off a vacation membership that also has annual dues seperately.

I have paid the account down and there were 2 payments due at which time I authorized 2 payments to pay off the account - after an auto payment was rejected in XXXX. After approximatly 13 back and forth phone calls, emails and letters to remove fees that well exceeded Colorado law, the fees were removed and I authorized 2 payments that pay off the account.

Monterey will not allow me to pay. They will also not process the payment I authorized. XXXX XXXX, where the payment was authoirized, reports that Monterey has not attempted any charge since XXXX. 

Meanwhile, I am innudated with phone call messages and emails offering me help to satisfy my delinquent account. They DEMAND that I call them regrding my delinquent account but when I call, the menu is difficult to naviagate, a new person inserts themself into the issue, they insist that I give them my checking account number, add more fees, and refise to process a credit card payment.

Given that Monterrey once tried to autobill {$110.00} for a $ XXXX payment, I do not trust them having access to my checking account. My credit card blocked this payment which is why I suspect they do not want a credit card payment. With a credit card payment, there is remedy of they try to overbill. With access to my checking account, they can take what they want.

I have offered to pay Monterrey via pay link, mail a chashier 's check, send a wire ( if they pay the dees ), or do a bank transfer - since they refuse to process a credit card payment. They have processed credit card payments throughtout the last 2 years but now do not want to because my card will not let them add and take illegal fees..

Instead of accepting a payment, they just add late fees, try to get my checking account and treat my account as delinquent while they threaten my credit.

I have tried to pay for 2 months whereby they will not charge my credit card and only try to get access to my checking account before the loan closes out.

I therefore, now want the 2 late fees removed without them adding in any other additional fees. It seems as though they are finding ways to prolong the payment plan instead of letting me payoff the account.

Additionally, I am concerned about paying the annual membership to actually use the travel program when they have manufactured a delinquent account. Can I even use the travel plan once the payments are complete and pay the annual dues if you manufactured a delinquent account?

I would like to get this recitified and paid off. Even yesterday XX/XX/year>, they added another fee and demanded payment or adverse action by XX/XX/year> if I do not pay. My pay off amount that should have been around {$110.00} is now {$170.00} because they refuse to accept payment to pay off the account unless I give them access to deduct from my checking account.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation