Western Financial Reviews (4)
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Western Financial Rating
Address: 5171 Baltimore Dr, La Mesa, California, United States, 91942-0679
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Western Financial has refused to send pertinent documents regarding an equipment loan arranged through this companyI was to be provided a loan of $54,@ 17% interestI have discovered through multiple sources that I am being charged nearly 125%, totaling $122,dueI contacted Western Financial to receive clarification and have not gotten an acceptable response I have requested that Western Financial provide me a breakdown of payments, as to review how my payments were to be applied (interest,principle) and my request was refused in writing No one can provide me an answer as to how my payments are being applied
Customer executed a loan, at his own choice, in which the payment, term, amount financed, and all critical components were explicitly clear on the contract. Five months later, customer decided he did not like the terms and blames Western Financial for his decision. Customer's terms were
based on being a high-risk applicant and a stabusiness. He had every opportunity to decline the offer and/or request additional information prior to funding. It is not the obligation of the lender to provide financial/accounting charts. Customer and his accountant can generate their own such charts if they desire
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
Western Financial at no point in time provided me any documentation that clearly stated interest ratesI was led to believe and understood that my interest rate would be 17%, therefore I did not question the final documentation that I signed which did not clearly state the total amount that would be repaid over the life of the loan.
Regards,
*** ***
Western Financial's position remains the same as in the previous response. All critical components and the borrower's obligations are stated clearly in the contract, including the monthly payment and the number of payments to be made.