Yes I heard about them in the radio. Called them up and I was told the service fee was $299, and it was refundable if they did not lower or modify your car loan. I paid and today I've got the contract which estates that there is no guarantee and that there is no refund, and there also "forgot" to mention that there was an additional $99 fee. I called them up with questions. Hanged up on me. Called again and canceled. Good luck
I work for an auto finance company that Autoloan CPR claims to do business with. They're trying to sell you something that we offer for free (hardship assistance, extensions, etc.). You're paying them to ask us to do this when you only need to ask us directly.
This company has also illegally placed our logo on their website.
I got a mailer from them... They actually did an awesome job with my loan. I got almost $189 off my payment. They actually do state that there is a one time fee of 299. They do not charge any other fees if they cannot modify the loan. I think the person above me had some miscommunication. Give them a call.. They really get the job done.
I was VERY, VERY leery of them when called, but I've been scammed before, so all the bs they might say would be a little more obvious. The only problem I experienced with them was the contact. I RECOMMEND THAT you GET THE NAME AND NUMBER OF THE CONTACT that will be handling your case. CALL THEM REGULARLY! THEY are very nice, but stay very busy and don't always call. JUST KEEP CALLING if you have too. The Power Of Attorney is necessary for them to get access to your auto loan and speak on your behalf. Your finance company won't let them negotiate for you without it. MY EXPERIENCE WAS GREAT - my interest rate was reduced from 24.5% to 8.5% in three weeks! I HAVE TRIED TO DO THIS ON MY OWN, but it's really not worth the trouble. ALSO-THE $299 was reduced to $199 when I called Back to explain that It Was Really More Than I Could Afford. They had already charged my account $299, but immediately refunded $100 - THE SAME DAY!! (My card is on my bank account and I can see all that happens in real time) I DID HAVE TOO Speak with the supervisor in charge of payments/refunds TO DO THIS! The normal people who answer the phones are usually not allowed to authorize this type of refund, and may not even know that their Super will do it for you if you ask because of a reasonable reason. They never charged me the extra $99 after they completed negotiations, either. Maybe because I told them I would refer them to others I know. ANOTHER POINT - You DO NOT HAVE TO BE BEHIND ON YOUR PAYMENTS for this type of negotiation to work. I was always on time with my payments, but was having financial difficulties and was a risk of defaulting. This was good enough reason. Hope This Helps!
Working with Auto Loan CPR was definately a regrettable decision for me. Truly a waste of money. For some reason they were not able to get me the same "amazing" results that many others seem to get. Of course, they were unable to offer any real explanation for that. Less than 1 percent off of my interest rate and a payment reduction of $69. WOO HOO! :-| ALL that after being told from the beginning that I would be able to get my payment and interest rate cut in half (a reduction of $207 and 8 percent) based on the initial information I gave them. Not to mention how stressful it was to work with them. Repeating extremely vague, nearly scripted answers are not my idea of keeping me in the loop. Save your money, do the research and get the modification done yourself.
I called this company after hearing about them on the radio. I spoke with the first gentleman that said I was approved, however, I wanted to discuss the options with my husband. When I called back to start the process I got another gentleman that asked me the same questions and then told me I wasn't qualified. He then asked me to hold because his "brother-in-law" was the negotiator for my lender. The brother-in-law then got on the phone and said that he could get me in if I could get my paperwork in the next day (which wasn't a problem). The problem was that he said the only way to get it done was to send it in with a large group because by it's self it wouldn't go through. I became nervous because of all of the scams going on today. Still not sure I would be comfortable shelling out $299 (and my identity) for someone to run off with it.....HELP!!!
To ROB75: We do not have anything to do with a car being repossessed. Just because you retain us to modify your loan that doesn't mean you have to stop paying! You still have an obligation to your lender until there is a new agreement. Auto Loan Cpr would never tell anyone to stop paying their payments, which is stated in all our documentation. And a cease and desist is only issued when asked, to stop the harassing phone calls and make sure the collections department doesn't trick the client into saying something that will prevent your chance for a modification. If you were an adult you wouldn't need a collector calling you to tell you that you missed 6 car payments, or that you should know that a car will get repossessed if you don't make your payments.! Time to be responsible for your own actions. Please feel free to call us anytime with any questions or concerns (877) 442 4116
I also heard them on the a christian station so my mistake I thought they would be on the level. They collected my $ 499 dollars in may and I have not heard from them since. When I first signed up I talked to a person by the name of Jay, Then I spoke to a collected by the name of Sarah, who told me all the documents I needed, Whenever I called she would answer, this was before they got all the money. Once they got the last payment I got an email from Tomika stating that my auto loan company have been contacted and have confirmed the information I sent to Auto Loan CPR, and I would begetting an email soon. It is now July and I have not recieved an email, either from Auto Loan CPR or anyone else, nor can I contact them with any number. All their numbers are invalid. I feel not only stupid for taking the bait , but angry because I am now late a month due to paying them. To all please be aware.
I concur with the "guest" who wrote above, as I was investigation Auto Loan CPR, and asked them the same question to see if I can do it on my own. They told me yes, and even told me where to begin. I'm a single mom and I didnt have the money, so although they wanted me as a client, they still gave me advice on how to begin on my own. They advised me to keep their number in case things didnt work out, which was back in January. About 6 weeks later after numerous phone calls, written letters, and hours of stress and aggrivation, I ended up falling behind on my payment, which only added to the collection dept calling me a thousand times a day. I happened to hear a radio commercial about Auto Loan Cpr, so I called them back. Before I called them I received an offer to defer one payment and reduced the payment to $27 a month. After 3 and a half weeks of working with Auto Loan Cpr, I got 2 deffered payments, one month extension, half my late fees forgiven, and I saved $142 on my monthly payment. So yeah, I agree, you can do it on your own, but I recommend to leave it to someone who knows what theyre doing! Thanks again!
Where here is an update. It is now the fourth mont that Autoloan CPR has had my money with no results. I have had to call about four numbers to reach a rep. Once the new one who is supposed to handle my file called me he told me that Auto loan CPR's paperwork to my loan company was not recv by them and he would have to refax them and that would take 2 days. Then I called him back and he told me that Autoloan CPR had lost their negotiating contract and I needed to wait however long for them to get their contract renewed in order to negotiate on my behalf to my loan company. I just feel like I am being taking for a bad ride. Please reconsider until you have all your facts about a company of this caliber. And by the way there is no www.autoloan cpr. This site does not exist.
Here is My follow up as promised: After taking my $400 I was told my lender is only offering deferrments to clients who have paid 2 consecutive payments on time. There would be no loan modifications as CPR is still "working" with them on that. So, no deferrment becasue my payment was late due to paying CPR and no modification. I never did hear from my negotiator until I called her today and asked what has been done on my behalf and she said "I'll call the bank and make payment arrangements for you". I said I can just do that on my own and I was told well we'll just keep working with them and keeping you updated on our progress. But as of today there is nothing that cam be done. And they knew this. They were waiting for my final payment to clear. Not a good experience and I got nothing but stress and continued delenquencies. The calls never did stop even though a cease and desist order was apparently filed. But what they don't tell you is the lender does not have to follow the order, only their 3rd party collection agencies which Wells Fargo does not have. ... Signed... Screwed in SA.
I called in and drilled them several times and got the same answers everytime. They're very upfront about that they can and can't do. I finally signed up and paid the 499, yes I had to fill out a power of attorney which clearly stated it was limited to the negotiation. How else could they contact my bank on my behalf?? It did take a while but they did explain that it would and that the collectors would keep calling. In the end they saved me $129 off my monthly car payment and got my late months moved to the end of my loan. It's not a magic button but it does reduce your car loan like they said. I think they're great and recommend them to anyone who gets approved. Hope this helps. People, please do your research like I did!!!
I was not sure of this company either since I couldn't find a lot of the information regarding the actual program, fees, etc. Which should be listed upfront on the website. After I inquired about it, I got an e-mail with some of the information, but he left out a lot of details and referred me back to their website (which some pages didn't contain any information). It just didn't feel right and I wasn't about to give him all of my information without knowing the details. He never once mentioned about the large fee in the e-mail as well. Sounds like a bad company and I'm not going to give them that much money to hope that I get my car loan reduced. When it sounds too good to be true it usually is. Does anyone know any other company that is good?
This is stuff anyone can do on their OWN!!!!!! All they do is charge you $600, take your hardship letter(which you have to make anyway), your finances and what has changed about them(which again you have to make and give them) and then they call and call your bank until they get annoyed and your bank agrees! Its something someone could do on their own and save $600. You just have to put in a little work with whatever company has your car loan!!! I did it myself, you should too!
I have been trying to get something done with them since February! The last rep I spoke with said "Act like we aren't there, everything will be taken care of" (the reps keep changing) They have ALL of my personal info and the signed power of attorney! Not to mention the first payment of $99 and my checking account info. They haven't kept me updated at all unless I contact them! Then they just say "it takes time, be patient, save your money, make your regular payments! So, I trust them and continue to make the same high car payment to my original finance company. How can I "Save my money"????? I trusted them, now I'm getting extremely nervous about the whole thing!
Watch out for these guys. You have to sign a power of attorney giving them COMPLETE access to your account. They put a cease and desist on your account, preventing collection calls and letters. If your account is very past due, you won't get any collection calls and one day, you walk outside and your car's gone because it got repossessed and you had no prior warning. To get it back to have to pay extra fees, including storage (very expensive). You go from paying $300 to get your car loan "modified" to paying over $1000 to get your car back from being repossessed.
I just called today and was approved. I will keep the list updated on my failure/success. At first impression, very professional and answered my "drilling'' questions appropriately. I did my own research as well (which landed me here) and the "you can do it on your own" is true as well but unfortunately my lender will only help me out minimally and only once a year on the deferred payments. I need help monthly. I got duped into a common lending scam and they pointed it out to me, I researched, and even if we do not go forward with a modification, I still walked away with consumer knowledge absolutely FREE. But again, I will keep you posted as to my experience as I just signed up today. The fee was $400 in 2 installments.
DO NOT TRUST AUTO LOAN CPR ! They deducted $299 from my checking account twice in April 2010 and took them almost 2 wks to credit it back. I spoke with a person named Jay as well. It is now August and I have heard nothing from them ! Also my car was repossessed during the time I was waiting to hear from them. I reported them to the BBB but they failed to respond to them as well. I am going to take the case to small claims court. STAY AWAY FROM AUTO LOAN CPR !!!!
I recently called auto loan cpr and spoke with their representatives who was real optimistic on decreasing my payments. Customer service were very friendly and prompt in answering my questions and returning my phone calls. I was charged a fee of $599.00 which was paid over the phone only to recieve a contract that stated a fee of $99.00 was to be charged. After I called to question this, the (I Guess Owner) Jay spoke with me and was very nonchalant about the situation, telling me nothing couldn't be done until two months. Two months passed, and I never heard from them. I tried calling them only to recieve voicemails at various numbers telling me that the person's mailbox was full, on top of all this, they took their website off the internet. I was scammed.
Saw them on craigslist.... Called and got everything done in less than 3 days. 100% efficient, would recommend to anyone trying to fix their car loan. Good luck.
Actually kept in contact with me throughout the entire process. Didnt just bury my file underneath a million others and disappear for two months like all these other companies. I got almost $147 off my payment. Hope this helps, good luck! :)
Heard them on the radio too... Everything is pretty straight forward...you just need to hand in some documentation and they get started right away. Definitely agree that they keep you posted on whatever is going on, it was great. Hope this helped a little.
Yes I use them and I was amazed on what they have done for me, not only were they efficient, fast, and courteous, they dropped 250.00 off my loan. I would definately recommend then in a heart beat. Good luck I hope this helped someone out there.
