Vehicle Loan Solutions Complaint - Total Fraud

Review by glennshrm3658 on 2011-06-02
Vehicle Loan Solutions is a California based organization that advertised auto loan negotiations to lower current auto loan payments and interest, to an affordable rate. They said the program worked better if my payments were behind, and I should not be current on my loan. So instead of making my car payment I sent them a fee of $495, with the guarantee of a substantial payment reduction. This never happened. They said my loan company told them I had to make two more payments in order to qualify for permanent reduction. I requested that they refund my fee in order to get current on my loan and fulfil their request and we would try again after that, but I needed my payment back in order to do that. And that's when the contact stopped. They won't answer phone calls or e-mails anymore.

And I am out $495 and my car payment has fallen behind. Due to medical issues I am unable to work anymore and my family lives on a very tight budget. I can't afford to give away $495. I HAVE BEEN RIPPED OFF!!!
Comments:3 Replies - Latest reply on 2011-06-02
Posted by Sophia Marie on 2011-06-02:
You have not been ripped off. You voluntarily handed over $495 to this company and the fact they won't refund it was probably made very clear to you up front in one form or another.
Posted by T on 2011-06-02:
Wowsers. If I read this correctly, the marketing team at this company persuaded you to stop paying your loan, and to send them money instead, to begin a process of refinancing your car loan.

Did you discuss your intentions with your car loan company? This sounds like a very risky approach, and I'm guessing you won't be able to get your $495 back unless there is a guarantee - good luck.

Posted by Anonymous on 2011-06-02:
Sad, you were given horrible advice, and basically got ripped off. I'm not sure what recourse you have but failing that I'd suggest you learn as much as possible about sound investing and money management.

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