Monterey Financial Services

So I bought a puppy from pet go round for 2,500 Monterrey financial told me I owe 7,000 just to pay it off and whenever I make a payment they won't even accept it so they can collect late payments anyways I make my payment on time and they add a 10.00 processing free just so they can get a 10 late fee and a 10 processing fee . I called in just to ask if my payment went through when I made it on time because they don't give you a notification or take it out your bank on time they told me it did and they lied !! Now on the website it says late and I have money in my account I'm not broke . Run from this terrible company I want to sue them !!

In response to the complaint received:
[redacted] did purchase a dog in November of 2015 as he points out in the complaint. He exercised his buyout option of the lease he had entered into, and the account has been closed as paid since March of 2016. The account has also been...

reported accordingly as a paid account as of that date. If [redacted]'s credit report is still reflecting an open balance, Monterey Financial would need to know which bureau is still reporting, and can communicate/correct that information as necessary once we have some further details. As stated, the account has been reported by Monterey as paid since March 2016. I urge [redacted] to contact a Monterey representative toll-free at [redacted] to discuss the necessary details. Sincerely,
[redacted]
Senior Manager of Finance & Quality Assurance
Monterey Financial Services, LLC

This company has the WORST customer service I have ever dealt with. The agents are rude, unprofessional, disrespectful and has no class or respect for themselves, their job or the CEO(s) of the company. They are liars and do not have any interigity about themselves or the company.

I got a "Wags loan" for a dog purchased in Maryland. Spoke to a report November 2016 to pay off early. (This call was recorded) She took a payment over the phone in the amount of $490ish. I asked her if she was positive this was the Final payment off amount and would I be charged further?! She Assured me it was final and no other charges would Hit my bank account. At he end of December 2015 they debited my account for the usual payment amount. I called Monterey, they Apologized and recognized they had no right to. The money was refunded. And they said the account was now closed.
July 2016 they have been calling me Daily about "$400ish I owe" that because I "put a stop on the account I voided the early payoff. I did not such thing. They have no documents to send stating this either. And the reps I've spoken to ALL aknowledge the account was CLOSED DECEMBER 2015.

Dr. [redacted],
Thank you for providing me with the correct phone number to be able to locate the call recordings of your conversations.  I was able to determine the account which your phone number was associated with and confirmed the number was deleted on 11/6/14 and you will not receive any further calls from us.  I appreciate you bringing this matter to my attention as we value customer service as is indicated by our A+ rating with the Revdex.com.  I formally apologize if you feel you were rudely treated by one of our reps and will be addressing these calls with additional training.  Again please be assured your phone number was removed from our database and you should not hear from us again.
Sincerely, 
[redacted]
Collections Manager

Monterey Financial began making phone calls to the phone
number [redacted] listed as the primary contact number on his application as
early as December 2013. This is easily substantiated through phone records and
call recordings if needed at a later date. We agree that [redacted] attempted to
make payments on his account, however those payments were unsuccessful. Upon
calling [redacted] today they indicated that they do not
charge their consumer a returned payment or NSF fee for declined debit card
transactions as [redacted] states in his response. While [redacted] does change a
return payment fee for ACH or check transactions that are returned due to
insufficient funds. Only 1 payment of [redacted]’s was processed via ACH
information. The ACH information was returned by [redacted] as unable to locate account, meaning that they could not locate the
account to have the funds withdrawn from. If they are unable to withdraw the
funds because they could not find the account they would also be unable to
assess an NSF fee, which is why [redacted] was never assessed a NSF fee. Again,
on March 26, 2014 [redacted] stated that she was going to make a payment via
[redacted] and to date that payment has not been made. Had that payment been made the account would not have been placed in our collection agency.
As stated in my previous response the account has yet to
report as an open/active collection account on [redacted]’s credit report, but
will do so if the account is not paid off by May 31, 2014. The information
currently reported to the credit bureau is in reference to the 4 months of
non-payment on the original finance contract. In an effort to get this matter
resolved Monterey Financial would be willing to remove all negative credit
reporting made to the credit bureaus if the discounted payoff offer of $5,100.00
is paid by May 15, 2014. If the discounted amount is not paid by May 15, 2014
we would still be willing to remove the negative credit reporting if the full
payoff of almost $5,600 is paid by May 31, 2014. If neither amount is paid by
May 31, 2014 the account would report as a disputed open and active collection account and we would be
unwilling to remove the previous negative credit reporting. [redacted] need to contact our office at [redacted] to schedule a payment to
resolve their defaulted contract.
Sincerely,
[redacted]
Finance Manager

Revdex.com:I have reviewed the response made by the business in reference to complaint ID[redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.This company is lying. I did call Monterey Finicial and left messages!!! I even called[redacted] to explain to them my issue..
I'm sure they have my calls there. Monterey Finicial is lying. I am not sure what steps to take now.. This is so bizarre!!!! I can't believe that company!!Regards,[redacted]

[redacted] financed repairs done on his vehicle on 10/18/14 through [redacted]. The account for the amount financed was placed with...

Monterey Financial to act as a 3rd party servicer for the term of the contract. [redacted] contacted our office on 11/19/14, responding to the letter he received in the mail. [redacted] authorized Monterey Financial to debit his checking account on 11/20 & 12/20 for his regular monthly payment of $33.20, and authorized the remainder of his early payoff amount of $124.93 to be paid  01/10/15 in order to satisfy the Early Payoff Option, offered in the contract. Contrary to [redacted]’s claim, [redacted] did originally request for Monterey to take the final payment on 01/16/15, but then informed the representative that he gets paid on 01/09/15, and authorized the final payment amount to be drafted on 01/10/15.
The Monterey representative specifically explained to [redacted] that no further action was needed on his part, and that the scheduled payments would be drafted on the authorized dates, and his account would automatically close as paid, as long as all of the payments cleared his account. [redacted] questioned the representative if we can take the 12/20 payment out earlier on 12/13. The representative explained that there would be a $15.00 processing fee to process the payment early, where [redacted] informed the representative he was ok with us debiting the $33.20 on 12/20.
[redacted] called our office on 01/09/15 and submitted a payment through our automated phone system for the amount of $124.93 on his bank card, even though he previously authorized a payment to be drafted on 1-10-15 in his conversation with the Monterey representative on 11/19/14. [redacted] subsequently called Monterey on 01/13/15 questioning why we attempted to debit an additional payment. The Monterey representative he spoke with explained that he had authorized a payment to be drafted on 1-10-15, and had additionally set up a payment via the automated phone system (despite being instructed on 11-19-14 that no further action was needed).
Despite the fact that [redacted] did not heed the instruction of the Monterey representative he spoke with on 11-19-14, and made an additional payment on his own accord, Monterey is willing to waive the $15 NSF fee incurred, and will refund it back to his account.
 
Sincerely,
 
[redacted]
Loan Servicing Supervisor

Please do your research before you decide to go with Monterey Financial Services. I went with them because my credit was not so good and I was in desperate need of a medical loan. My monthly payments of 304.37 and only between $92-96 is added to my principal if only the minimum is paid. And if you are late on your payment the whole amount is added to your interest. I called and spoke to a rep and asked why the last two month my entire payment were added to the interest. Rep stated I had a per diem of $6 per day! I wish I had done my research before doing business with them. Because one year later with them and my loan has just gone done $1,000 and have made over $3,000 in payments. You get charge for everything. $10 fee every time you do a web payment, $15 fee if made by phone, $2 for reoccurring payment. Please beware.

The initial calls from [redacted] to schedule a payment occurred
at 7:45am and 8:28pm PST, which are not within our hours of operations. The
message she received indicated that the office was closed, gave her our hours
of operations and the option to leave a message. She did leave messages and her
calls were returned when we received her messages. Upon our attempts to contact
[redacted] we were unable to make contact and left her a message to return our
call. At no time did [redacted] attempt to reach me directly on the phone number
I provided on my previous response. On August 07, 2014 [redacted] contacted our
office during normal business hours and spoke to a representative who processed
a payment for her past due amount and confirmed the account is set to draft
again on September 01, 2014. Funds need to be available to be withdrawn from
[redacted]’s account the morning of September 1st. If the funds are
not available and the payment is returned the account could be subject to
return payment and, possible late fees.  The
payoff on the account as of today is $554.07.
Should [redacted] have any further questions she may contact
me directly at [redacted]
Sincerely,
[redacted]
Finance Manager

In response to the complaint received:
[redacted] entered into a Lease agreement with [redacted] Lending on 4-20-15 (lease agreement attached). It has been confirmed with [redacted] that they print and present a physical copy of the contract for every customer and never explained the...

purchase as anything other than a lease. As is clear upon review of the agreement that [redacted] entered into, the first page of the contract it states that the contract is a lease and also tells the customer exactly what their monthly payment is and for how long their leasing period is.It should be pointed out that the lease agreement clearly stipulates the Early Purchase Option and Early Termination stipulations. [redacted] was informed by Monterey representatives that if she wished to buyout of the lease she would need to pay the amount as outlined in 8.(a), which was $18.75.84 as of 10-1-15. As she claims she no longer has the cat, she is unable to return the animal to execute an Early Termination outlined in 8.(b). It has also been confirmed by [redacted] that the cat was not returned to the store. [redacted] Lending, and Monterey Financial Services are concerned about the animal’s well-being, and would like to know the whereabouts of the animal at this point, since [redacted] claims to no longer possess the animal. 
Despite the facts outlined above, [redacted] Lending has agreed to terminate the contract upon validation of the location and well-being of the animal. Monterey Financial has been advised by [redacted] Lending that they have attempted to reach her to validate the location of the animal, and [redacted] has not responded. [redacted] may reach [redacted] at [redacted] to validate.
Sincerely,[redacted]Finance ManagerMonterey Financial Services

As outlined in the previous response and in conjunction with the
agreed terms of the contract, Monterey Financial was able to change the due
date and draft payments as long as they occurred after the original date listed
on the contract. This was agreed to in the contract and in every situation [redacted] would have extra time to ensure
that the funds were available in her account. Had [redacted] had questions
regarding the draft date of the payment she could have easily contacted our
office to discuss the matter, but instead she chose to place a stop payment on
the payment negating her same as cash option.
Even if [redacted] felt she still
qualified for the same as cash option she still failed to pay the same as cash
amount before the same as cash expiration date of 02/23/14. As listed in the
cancellation section of the contract, the contact may only be cancelled within
3 days of signing the contract and prior to receipt of goods. As we are well
outside the 3 day cancellation period and [redacted] has accepted the receipt
of the goods she is bound to the contract terms.
The past due account from 2005 is with Monterey Financial and
has been with our company since 2008. Since that time no payments have been
made and the account remains with our attorney to secure a judgment on the
balance owed. The defaulted contract from 2005 bears relevance to this account
since if left unpaid; the account in question may also be placed with our
attorney to secure a settlement on the unpaid balance.
[redacted] must contact my office to discuss the remaining
balance owed on this account and her defaulted balance on the [redacted] contract
immediately to avoid the potential cost of litigation and from having a
judgment potentially appear on her credit for the next 7 years. As mentioned in
my previous response the account has been assigned to our legal team for breach
of contract, but we would be willing to discuss voluntary repayment should she
contact our office by 03/21/14. Failure to do so could result in advising our
legal team to continue their pursuit of judgment on the defaulted contracts.

[redacted] is correct that the first payment was made in the store on the day she accepted the lease terms. However, section 2(a) is clear that the amount of $2,536.21 needed to be paid after the lease date, meaning after the first payment was made. This is not a 90 day same as cash program as [redacted] asserts. As this is a lease agreement there is no interest only a lease amount and lease factor. Nowhere within the agreed contract does it state or imply no interest if paid within 90 days. Under the “Periodic Payment” within the section 2, “Consumer Leasing Disclosure”, it was agreed that the second periodic payment would be due on April 01, 2014 not May 2014 as stated by [redacted].
[redacted]’s claims that she overpaid the contract price by $400 are inaccurate. [redacted] only paid the original cost of the pet, the applicable tax and residual payment. The original cost of the pet was $2,080.00, the tax amount was $125.41 and the residual amount was $330.81, totaling $2,536.21. [redacted] made 1 payment of $143.79 in store and a payment to Monterey Financial of $2,407.42 of which $2,392.42 was applied toward her lease amount as the payment included a $15 processing fee. The total of the amounts applied to the lease was $2,536.21, the same amount as above.  Even if [redacted] felt she was only responsible for paying the amount listed in section 2(a) of the lease agreement that is all she paid.
  As stated in the previous response and as outlined under “Purchase Option at End of Lease Term” within section 2 of the Lease, in order to purchase the property [redacted] would have to pay a $330.81 residual payment. The residual payment amount would need to be paid if the lease was for 1 day or for the full term of the lease if [redacted] elected to purchase and keep the pet. This amount was included in the amount given in section 2(a) of the lease agreement. 
 
Based on the lease terms [redacted] should have made her first payment of $143.79, plus an additional $2,536.21. As she only paid, $2,536.21 she actually received a discount on the lease amount of $143.79.
  Should [redacted] wish to discuss this matter further she may contact me directly at
[redacted]
Sincerely,
 
[redacted]
Finance Manager

In response to the complaint received,
[redacted]...

[redacted] account was transferred to Monterey Financial Services from [redacted]. to service the remaining payments on her loan on 12-17-14. [redacted] provided a copy of a payment that was made to [redacted] before the transition of the account to Monterey Financial, which was not reflected in the balance received by Monterey Financial. This payment in the amount of $163.00 made on 12-8-14, has now been reconciled  towards [redacted]’s account, and her account is up to date and in good standing with her next payment due on 3-10-15. Should [redacted] have further questions or concerns, I urge her to contact our office toll free at [redacted]
Sincerely,
[redacted]
Finance Manager
Monterey Financial

In response to the complaint received:
In January of 2015, [redacted] entered into a lease agreement with [redacted] Financing for the purchase of a Golden Retriever (copy of lease agreement attached). This contract was purchased, and assigned to Monterey Financial Services on 1-13-15 to...

service the terms of the lease agreement. Upon receipt of the complaint, and after researching the matter with [redacted] Financing has advised Monterey Financial that they have since reached out to [redacted] and come to a resolution due to a misunderstanding at the inception of the agreement. Monterey Financial has been advised that it was agreed that [redacted] would be responsible to pay the amount financed on the contract (an amount of $524.86) which will be paid to Monterey Financial on 11-16-15.
Sincerely
[redacted]
Finance Manager
Monterey Financial Services Inc.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
 
Regards,
[redacted]
If you look at the letter they sent which is not the contract. It states January 1, 2014 not the 1st of every month. As far as im concern they can have the stove and tv. I can go buy one. They never had the right to change my due date but they did without my permission.  And for them to bring up something from 2005 which wasnt with their company has no concern of this matter. To me its childish and unprofound. i've paid more then two something towards the purchase their just trying to get extra money so they can come and get the stove and tv and credit my account. I don't want to have anything else to do with this company it's a fraud and im going to tell everyone I know about them.

Very poor business ethics and customer service. It's a bad idea to make a payment by phone, they sent through an unauthorized payment with my bank card. It is a big problem to get them to help out with this, it has taken me 4 calls and still going.

In response to the complaint received:
[redacted] entered into a lease agreement with [redacted] for the purchase of a puppy from [redacted] on 1-4-15, which was assigned to Monterey Financial Services. The Lease terms are clearly outlined in the Lease Agreement (which has...

been attached for review) which was initialed, as well as signed by [redacted]. The early termination, and early buyout stipulations are also clearly outlined in the same lease agreement. I suggest that [redacted] review her lease agreement, as she will be entitled to execute an Early Purchase per the terms set forth in the agreement she entered into on 1-4-15. She may contact Monterey Financial toll free at [redacted] to make the necessary arrangements.
Sincerely
[redacted]
Finance Manager
Monterey Financial Services

Acct#: [redacted]
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Attached is the copy of the Lease agreement [redacted] initiated and signed at [redacted] through [redacted] on 3/2/14. Monterey purchased the contract and booked the account into our office on 3/12/14. The first page outlines the Consumer Leasing Disclosures in section 2 and breaks down the detail of the down payment “Amount Due at Lease Signing” $143.79, as well as the monthly payment plan for the entire financed term of the loan $4888.93 and the “Purchase Option at the End of the Lease Term” for the residual fee of $330.81 versus the Disposition Fee of $165.41 if she chose to not purchase the property at the end of the lease. Section 2(a) outlines the 90 day option to purchase the pet early for a discounted price of $2536.21 plus any taxes or official fees assessed, this includes the pet cost $2080.00. Section 3 describes the tax amount $125.40. As you can see [redacted] signed and initialed multiple times throughout the 5 page agreement, clearly acknowledging these terms.
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[redacted] contacted Monterey’s office on 3/12/14 at 2:35p. A representative was not immediately available and she chose not to leave a voicemail indicating a return call was needed. She called back at 2:45p and spoke to a representative. [redacted]’s only inquiry on the call was to obtain the account number, which was given to her. [redacted] then called on 03/24/14 to inquire further about how access her account through our website. She called back later the same day to question the balance for the optional 90 day discounted price. The representative reviewed the account and explained nothing on the contract changed when Monterey purchased the finance agreement, however if an additional payment was made at the store prior to book in with Monterey we may not have updated records and would need 24 hours to verify this information in order to obtain the correct payoff balance for the 90 day option.
It was discovered that the payment in store [redacted] was referring to was her down payment of $143.79, not an additional contractual payment towards the financed amount. Understanding [redacted]’s miscommunication at the store regarding the down payment, Monterey accepted this towards the balance of the discounted price as a courtesy to [redacted] when she called back on 4/1/14 and agreed to set up the payment in full. Monterey accepted the final payment of $2407.42 to close out the account under the 90 days payoff option. The payment was cleared the following day and the account has since been closed.
 
Trusting this is satisfactory,
 
 
[redacted] | Finance Supervisor
 Monterey Financial Services
4095 Avenida de la Plata | Oceanside, CA 92056
[redacted]
[redacted]

In response to the complaint received:
[redacted] did contact Monterey Financial on 10-6-14 to make her final payment towards her Same as Cash Option in the contract with [redacted]. Despite the fact that the Same as Cash Option of [redacted] contract stipulates the expiration...

of the Same as Cash to be 10-5-14, Monterey is willing to honor the Same as cash so long as the final payment she outlines is paid by 10-17-14.
 
Sincereley,
[redacted]
Manager
Monterey Loan Servicing