Who owns Wilshire Consumer Credit?
Westlake Financial Services
About Wilshire Consumer Credit: Wilshire Consumer Credit (WCC) is a wholly owned subsidiary of Westlake Financial Services. WCC provides personal loans and title loan services to consumers both directly and through various business partners in Arizona, California, Georgia, New Mexico, South Carolina and Texas.
Is Westlake Financial the same as Wilshire Consumer Credit?
Wilshire Consumer Credit (WCC) is a wholly owned subsidiary of Westlake Financial Services. Wilshire Consumer Credit (WCC) is a wholly owned subsidiary of Westlake Financial Services.
What is Wilshire commercial capital?
Description. 1(800) Car-Title® operated by Wilshire Consumer Credit (WCC) was founded in 2001 in Los Angeles, CA and rapidly rose up to be one of the leading providers of title loans in the nation.
What is considered consumer credit?
What is Consumer Credit? A consumer credit system allows consumers to borrow money or incur debt, and to defer repayment of that money over time. Having credit enables consumers to buy goods or assets without having to pay for them in cash at the time of purchase.
When did Bank of America acquires Wilshire Credit Corp?
Bank of America acquired Wilshire at the end of 2008 as part of its $50 billion purchase of Merrill Lynch & Co. Merrill paid around $50 million for the loan servicer in 2004.
What are the disadvantages of consumer credit?
Disadvantages of Consumer Credit The main disadvantage of using revolving consumer credit is the cost to consumers who fail to pay off their entire balances every month and continue to accrue additional interest charges from month to month.
What are examples of consumer credit?
Consumer credit is a way for people who spend money on products to get an advance on the money required to pay for the object. The most common example of consumer credit is a person using a credit card. He uses the credit card to pay for goods and services, then he repays the credit card company at a future date.
Is it possible to live without using any form of consumer credit?
Many people see debt as a necessary evil, but it still is possible to live—and thrive—without using debt or worrying about your credit scores. The benefits of debt-free living are easy to understand, but it’s important to know what challenges you’ll face and how to overcome them if you stop playing the credit game.
What are three common forms of consumer credit?
There are three main types of credit: installment credit, revolving credit, and open credit.
What does the Consumer Credit Act do?
What is the Consumer Credit Act? The Consumer Credit Act is an important law that covers most commercial lending in the UK. It sets out what creditors must do when they lend money and when they collect it. The Act also sets out your rights when you borrow money.
Why is my credit score low if I have no debt?
Your credit score may be low — even if you don’t have debt — if you: Frequently open or close accounts and lines of credit. Charge right up to the limit on your credit before paying off the balance (which causes issues for your score, even if you don’t let that balance become debt)
Where do I find Wilshire Consumer Credit LLC?
Wilshire Commercial Capital, LLC dba Wilshire Consumer Credit (WCC) specializes in subprime auto financing and car title loans. They are located in Los Angeles, California. You may see this consumer finance company listed on your credit report as a collections account. This can happen if you become delinquent on an auto loan or car title loan.
Who is Mohammad Solomon of Wilshire consumer credit?
Mohammad Solomon was an incredible agent. I had a title loan and paid it off with Mohammads help. He is an irreplaceable asset to this company and if the other employees are like him, you can’t go wrong using Wilshire for your financial needs. Thank you for posting a review Val!
Is it illegal for Wilshire consumer credit to garnish wages?
It is important to note that if you are in a state that does not allow wage garnishment, it is illegal for them to threaten to garnish your wages. It is also illegal for Wilshire Consumer Credit to make any claims they cannot or will not follow through on – this includes threatening to sue you or to foreclose on your home.
How did Lourdes at Wilshire consumer credit help me?
Lourdes was so helpful and honestly such an amazing help, who obviously cared. She actually listened and worked with me and her Supervisor to find a reasonable solution to get payments back on track (and so I can get my car back which, during this time, a safety issue – I have walked to work since car repossessed).