This is my story...
I am a working Mom & my husband works too. We don't have much, but we bought a modular home with property in a lake area. We purchased the home & property for $40,000 & put down 20% so we owed $32,000. I think we still owe close to that amount from the exorbitant interest from Wilshire at over 13 percent.
The first of 2003 we were having some financial problems and we got a little behind on our payments. We decided to refinance our home. My husband went through another mortgage company and was approved. All he had to do was go to St. Louis, MO & sign the papers.in March of I called Wilshire for a payoff amount, they told me they would get it to me... They never did.
In June of I attempted to call in a payment over the phone and they refused it, stating we were in forclosure. I received no notifications of such. My husband called the mortgage company that he was approved through and they stated they could no longer complete the loan because Whilshire had put a forclosre on our credit bureau report.
In July of we received a demand of payment from Wilshire Credit Corporation to reinstate our loan, giving us 30 days to dispute, however, the foreclosure on our home was to take place within a week. We hired an attorney and filed bankruptcy which was our only alternative.
Before our bankruptcy hearing, I withdrew money from my 401K and met their demand amount to bring the loan current. Ever since, we have sent our house payment each month by certified mail. I have kept a detailed record of each check sent & deposited by Wilshire. Our bankruptcy was discharged December and I called Whilshire in January for a bill. They responded that they could not send one until my attorney sent a letter stating they could. My attorney had already sent that letter to them and I sent them a copy. I have yet to receive a payment coupon or bill from Wilshire.
Wilshire sent me a statement for taxes which showed us behind on our payments. I called them requesting they correct their records and they said they would get it straightened out.
In July of I received a demand for payment from Whilshire, stating they were requesting our loan be brought current and requesting we pay legal fees. I called them and they were very rude. I then contacted my attorney who had me give him copies of all the checks they had deposited. My attorney sent them documentation showing the loan had been brought current and that we had made each monthly payment thereafter. They reponded with a letter stating they would review and have the issue resolved in 60 days.
I contacted my attorney 90 days later and he had heard nothing from Wilshire, so he requested I give them some more time. He received a letter from them in November of stating they were resolving the issue. I continue to send them payment by certified mail. My payment for the month of December never cleared the bank and when I called, I was told they were returning my payment because I needed to make a repayment plan. I instructed them that I was current on my loan and they had received proof of such and referred them to my attorney. I also informed they were in contempt of my bankruptcy.
My attorney sent them a demand to resolve the issue in 15 days or he would proceed with charging them in contempt of the bankruptcy.
They are holding our payments for December January and February. They have neither deposited them or returned them. Wilshire Credit Corporation has caused me more pain & suffering than you can possibly imagine. I need some help against this corporation. They are evil people and obviouslly don't comply with federal or any other regulations. They need to be stopped from doing this to consumers!
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