How to Settle Debt With Wilshire Consumer Credit
You can settle debt with Wilshire Consumer Credit by validating the debt first, then negotiating for 50% or less. If WCC sues you, respond within 14-30 days to avoid a default judgment and protect your wages from garnishment.
Answer Your LawsuitDebt collectors can make your phone ring endlessly. They call repeatedly about unpaid accounts. If Wilshire Consumer Credit has contacted you about a delinquent debt, you have options. You can take proactive steps to resolve your debt issue. Negotiating a settlement is one powerful strategy.
What Is Wilshire Consumer Credit?
Wilshire Consumer Credit (WCC) is a small auto-financing company. The company operates from Los Angeles, California. WCC offers loans to consumers buying new cars. The business has operated for over 33 years. WCC maintains an A+ rating from the Better Business Bureau.
Respond to Wilshire Consumer Credit's Lawsuit Today
WCC sued you for unpaid debt? You have only 14-30 days to respond before a default judgment. Protect your wages and bank account by filing your Answer now.
Respond to LawsuitWhy Is Wilshire Consumer Credit Collecting Your Debt?
Original creditors often avoid the debt collection process. The process can cause more revenue loss than gain. Following up with unwilling debtors wastes time and creates legal problems. Original creditors face several concerns about debt collection:
- Is the debt worth the time and investment?
- Can they prove the debt in court?
- Is the debtor still in their jurisdiction?
- Could the collection process be dangerous?
- Will emotional investment lead to law violations?
- How long will collection take?
- Can the debtor actually pay?
These concerns can be challenging to handle. Creditors prefer selling the debt at a lower price. They also employ debt collection agencies to follow up.
How to Stop Wilshire Consumer Credit From Calling You
The law allows collection agencies to call seven times weekly. Most agencies violate this law and call several times daily. You can take steps to stop WCC from calling you:
Send a Cease and Desist Letter
A cease and desist letter asks WCC to stop all calls. The document protects your rights under federal law. Send it via US-certified mail to ensure delivery. You can use it as leverage in case of a lawsuit.
Request Debt Validation
Collection agencies dislike receiving validation requests. They may stop collection attempts after receiving your letter. A debt validation letter requires WCC to send more information. You get details about the debt in question.
Dispute the Debt
You can dispute incorrect information with credit bureaus. Contact Equifax, Experian, and TransUnion if you find errors. You should also dispute if the debt isn’t yours. The bureaus will investigate with WCC before taking action.
Commit to a Payment Plan
WCC will stop collection attempts when you commit to paying. Show your commitment by making the first payment promptly. Follow up to ensure they update your account information.
These steps stop WCC from contacting you repeatedly. You gain time to plan your next move. Report any law violations to the Fair Trade Commission website. You can also contact your attorney general’s office.
When to Negotiate Settlement With Wilshire Consumer Credit
Debt collectors often intimidate consumers into blind payments. They may agree to accept less but later send a balance. You need a written agreement before negotiating. Do not negotiate for payments until you:
- Confirm the debt collector represents WCC and isn’t a scammer
- Request more information about the debt
- Verify the debt rightfully belongs to you
- Send a debt validation letter to acquire creditor information
- Get WCC to agree to a written settlement agreement
Begin negotiation after completing the above process. Aim to pay 50% or less of the original debt. WCC will likely demand the full amount or three quarters. They may want the rest within a short period.
Has WCC already taken you to court? You should file your Answer before beginning settlement negotiations. Our partner Solo can help you respond to the lawsuit. Filing blocks a default judgment and gives you time. You can work out an agreement before your court date.
Wilshire Consumer Credit Reviews Online
Many people share their WCC experiences online. You can learn from their stories. Check out reviews on Google Reviews, Better Business Bureau, and Yelp.
The reviews tell a story about positive borrower experiences. One borrower named Dee shared their experience:
“I want to thank Miguel and Iris for providing a seamless refi transaction. Within 5 mins I was provided options and agreeable terms that kept my monthly payment low. The next day I got funds. They work fast and efficiently. My original loan that I got 3 years ago, I had poor credit. They accepted me and worked with me. I never missed a payment. I put my head down and I built my credit back up to a 677. Now, I have a second chance in life and cash for my startup.”
Dee’s review shows that proactive engagement with WCC works. You can make progress in resolving your debt collection matter. You may even negotiate an amicable debt settlement.
Does contacting a debt collector sound awful? Consider negotiating online through a digital settlement platform. You can resolve your debt without phone calls.
Can Wilshire Consumer Credit Sue You?
Yes, WCC can sue you if you fail to pay. They need enough evidence to prove the debt is yours. If you cannot pay, talk to a WCC representative. Agree on a payment plan that works for you.
Share evidence of your inability to pay. They may stop contacting you for several months or years. Debt collectors often refrain from filing lawsuits when debtors know their rights.
What Happens if WCC Sues You
Sometimes collectors don’t believe you cannot pay. They may sue for permission to garnish your wages. They might gain access to your bank account. Do not panic when you receive a lawsuit from them.
You must send an Answer after receiving a court Summons and Complaint. Send your response within 14 to 30 days from receipt. WCC may request a default judgment if you miss the deadline. You automatically lose the case by default.
With a default judgment, Wilshire Consumer Credit can garnish your wages. They can put liens on your property. They can use other methods to take your money away.
Settling Outside of Court
You can negotiate with Wilshire Consumer Credit to settle for less. Our partner Solo helps you settle the debt without stepping into a courtroom. You don’t need to go to court if the debt is yours. Going to court means you might pay more than you owe. WCC may win the case if enough evidence exists against you.