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Business Profile

Consumer Finance Companies

Lobel Financial

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Consumer Finance Companies.

Complaints

This profile includes complaints for Lobel Financial's headquarters and its corporate-owned locations. To view all corporate locations, see

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    Customer Complaints Summary

    • 74 total complaints in the last 3 years.
    • 20 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:06/05/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Lobel Financial is reporting a charged-off auto loan that has been time-barred since July 2024 under Texass 4-year statute of limitations. Despite this, they continue to report the account monthly with a growing balance, misleading lenders and suppressing my credit score during a mortgage process. The balance has increased from $5,936 to $7,156 with no payments and no legal authority to add interest after charge-off.I have filed multiple disputes and complaints, and Lobel has failed to provide any documentation, verification, or explanation. Their responses are generic, evasive, and ignore key facts such as the time-barred status and unlawful re-aging. Continued monthly charge-off updates give the false impression that the account is active and collectible, violating FCRA 623(a)(1), 605(c), and potentially the FDCPA.I am requesting the complete removal of this tradeline from all credit reports and an investigation into Lobel Financials broader practice of misleading post-charge-off reporting that may impact other consumers.

      Business Response

      Date: 06/18/2025

      At Lobel Financial, we are committed to safeguarding our customers' privacy and resolving any issues directly with them as needed. We will investigate, and if appropriate, a written resolution will be shared with the customer, who can choose to disclose the details at their discretion.Should you or the customer have additional questions or require further information after our review, please feel free to reach out.

    • Initial Complaint

      Date:04/11/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I am writing to formally dispute the account referenced under account number 6418***** that appears on my credit report. This account was opened without my authorization and constitutes fraudulent activity. I have no recollection of applying for or consenting to any agreement with LOBEL FINANCIAL CORP Under 15 USC 1692g (Validation of Debts), you are required to provide verification of the debt or a copy of the judgment if I notify you in writing within *************************************************** documentation proving that I consented to this account. Without a valid, legally binding agreement bearing my signature, there is no basis for this account to exist under my name.Since this account was established fraudulently, I request its immediate removal from my credit report and that any collection activity cease. If you cannot provide proper validation within 30 days, you are required to delete this account from my record and stop further collection efforts.Please confirm receipt of this letter and notify me of the next steps to resolve this matter.

      Business Response

      Date: 04/11/2025

      At Lobel Financial, we are committed to safeguarding our customers' privacy and resolving any issues directly with them as needed. We will investigate, and if appropriate, a written resolution will be shared with the customer, who can choose to disclose the details at their discretion.Should you or the customer have additional questions or require further information after our review, please feel free to reach out.

    • Initial Complaint

      Date:04/03/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      On 4/1/2025 my car was repossessed. According to the police department it was ordered by Lobel financial and Hillsborough Auto Sales. After speaking to Lobel, I was advised they did not order any repossession.I then called Hillsborough Auto to figure out whats going on.I was advised by the owner that someone shamed ***** from Lobel has been contacting them continuously about a buyback of the contract. They decided to repossess the vehicle since I apparently no longer have a contract with Lobel.I conferenced a call between both parties since there seems to be some sort of misinformation. I was advised that my account is still in good standing and they will do nothing to resolve the issue. I was hung up on multiple times. I have paid $2500 to initiate the contract and a payment after that. Lobel says they have nothing to do with the repossession and that I should have my car still but Hillsborough Auto is saying the opposite. Now I have been scammed from both my money and my vehicle.i am requesting a correction to my credit and compensation

      Business Response

      Date: 04/28/2025

      At Lobel Financial, we are committed to safeguarding our customers' privacy and resolving any issues directly with them as needed. We will investigate, and if appropriate, a written resolution will be shared with the customer, who can choose to disclose the details at their discretion.Should you or the customer have additional questions or require further information after our review, please feel free to reach out.

    • Initial Complaint

      Date:03/28/2025

      Type:Order Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      On 2/5 I purchased a car, *** my payment was $554 and rate was *****%. I initially had issues with the lender in question receiving my insurance after sending multiple times finally that was resolved. However during this time I was offered a better terms from open road Lending. I called and advised Lobel that I would not make the payment but because I was refinancing and if for whatever reason it was delayed I would certainly make a payment. During this time Open Road contacted me and advised that Lobel was reporting inaccurately to credit agencies that my payment was almost $700 and rate was 10% higher at *****%. I had been working with Open Road to show them my purchase contract so they could use my actual terms. I went on business trip for week plus, during which time Lobel came and took the car for being 2 weeks over the due date! This is despite me telling them why had not yet made payment as was pending refi. Initially Lobel was allowing me to get car back but I pushed back regarding any repo and my credit for 2 weeks over due date as well as any potential fees. However since then they are now saying the only way to get the car back is to pay loan off in its entirety.

      Business Response

      Date: 04/08/2025

      At Lobel Financial, we are committed to safeguarding our customers' privacy and resolving any issues directly with them as needed. We will investigate, and if appropriate, a written resolution will be shared with the customer, who can choose to disclose the details at their discretion.Should you or the customer have additional questions or require further information after our review, please feel free to reach out.

      Customer Answer

      Date: 04/17/2025

      I request that no impact to my credit due to the bad faith service and actions from Labol. 

    • Initial Complaint

      Date:03/14/2025

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Ive tried to dispute a current 30 days late credit report with Lobel Financial but they wont remove it. As you can see, in the 48 months of payments, I was late oncein October of 2021during Covid. The account was paid in fulllast payment was on time.

      Business Response

      Date: 04/01/2025

      At Lobel Financial, we are committed to safeguarding our customers' privacy and resolving any issues directly with them as needed. We will investigate, and if appropriate, a written resolution will be shared with the customer, who can choose to disclose the details at their discretion.Should you or the customer have additional questions or require further information after our review, please feel free to reach out.

      Customer Answer

      Date: 04/16/2025

      *** already submitted documentation proving that the only 30 day late payment was years agothen every payment was made prior to 30+ days late. I received a denial letter from Lobel, and documents that show late payment fees, but again, only the one 30+ days late from years agonot my very last payment that closed out my loan. Please help!

    • Initial Complaint

      Date:03/04/2025

      Type:Sales and Advertising Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Im a current customer of **********************. I only have one major issue with them and its the Loss Damage Waiver or LDW. I have never had a lapse in coverage but every month I am unfairly being charged $113 fee. Youd think by following their instructions on getting these fees removed from account per their website would be all you need to resolve your issues but youd be wrong. I have to have my insurance company write monthly a character letter on behalf and send them my binder and rarely do I get a response. Im sure my car is out for repo despite me making my scheduled payments because of this unfair borderline illegal or illegal practice. No lessons have been learned by Lobel because unbeknownst to me back in 2022 they had a major lawsuit for *drumroll* yes, over charging their customers for LDWs and other things. Im disappointed in this company and this isnt a personal attack but their customer service support workers are ignorant and uninformed and I have a hard time understanding many of the staffs words due to thick accents further compounding my frustration and confusion even more. If you do get someone who is able to speak with a clear cut American accent they are dismissive or out right rude. Ive been shamed for sending an email (following per their websites instructions) instead of calling them. Im just really frustrated and frankly sick of doing the same ole dance with Lobel. Im looking of finding another lending cause they have lost my respect due to incompetence and low brow financial corporate greed. I say this with all due respect but Im not paying fees when Ive never had a lapse in coverage.

      Business Response

      Date: 03/10/2025

      At Lobel Financial, we are committed to safeguarding our customers' privacy and resolving any issues directly with them as needed. We will investigate, and if appropriate, a written resolution will be shared with the customer, who can choose to disclose the details at their discretion.Should you or the customer have additional questions or require further information after our review, please feel free to reach out.

    • Initial Complaint

      Date:02/18/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I am writing to dispute the accuracy of account #******, reported by Lobel Financial. My records, including documentation from Lobel Financial themselves (see attached), clearly show the repossession occurred in 2020, not the currently reported 2024. This constitutes a direct violation of the Fair Credit Reporting Act (FCRA) Section 611 regarding accurate reporting. I have attached copies of payment receipts from Lobel Financial confirming the 2020 repossession date.Furthermore, the account shows an increasing balance despite no monthly payment being reported. This is a clear discrepancy and raises serious concerns about the accuracy of the information being furnished, potentially violating FCRA Section 611. It also suggests potential violations of the Consumer Financial *****************'s (****) regulations concerning unfair or deceptive acts or practices (UDAP).Lobel Financial's response to my initial dispute (also attached) merely states disagreement without addressing the specific discrepancies or providing any evidence to support their reporting. This suggests a failure to conduct a reasonable reinvestigation as required by FCRA Section 611.Due to these ongoing inaccuracies, including the incorrect repossession date, the unexplained balance increase, Lobels inadequate reinvestigation, and the potential FCRA/CFPB violations, I request that Experian delete this account from my credit report. Continued reporting of this inaccurate information is causing me undue harm and appears to be in violation of the Fair Credit Reporting Act and potentially CFPB regulations.Sincerely,***** ***** Umanzor **** ********************************************** 209-534-76356 ******************* Attachments:Copy of Lobel Financial letter (showing account # and their letterhead)Copies of payment receipts from Lobel Financial (clearly showing 2020 dates)Copy of Lobel Financials response to my initial dispute.

      Business Response

      Date: 03/06/2025

      At Lobel Financial, we are committed to safeguarding our customers' privacy and resolving any issues directly with them as needed. We will investigate, and if appropriate, a written resolution will be shared with the customer, who can choose to disclose the details at their discretion.Should you or the customer have additional questions or require further information after our review, please feel free to reach out.

    • Initial Complaint

      Date:11/27/2024

      Type:Customer Service Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I am not liable for this debt with *********************** I do not have a contract with Lobal Financial , they did not provide me withe the original contract as I requested

      Business Response

      Date: 12/04/2024

      At Lobel Financial, we are committed to safeguarding our customers' privacy and resolving any issues directly with them as needed. We will investigate, and if appropriate, a written resolution will be shared with the customer, who can choose to disclose the details at their discretion.Should you or the customer have additional questions or require further information after our review, please feel free to reach out.

    • Initial Complaint

      Date:11/16/2024

      Type:Customer Service Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I am not liable for this debt with LOBEL FINANCIAL, i do not have a contract with LOBEL FINANCIAL, they did not provide me with the original contract as requested

      Business Response

      Date: 11/22/2024

      At Lobel Financial, we are committed to safeguarding our customers' privacy and resolving any issues directly with them as needed. We will investigate, and if appropriate, a written resolution will be shared with the customer, who can choose to disclose the details at their discretion. Should you or the customer have additional questions or require further information after our review,please feel free to reach out.

    • Initial Complaint

      Date:09/10/2024

      Type:Order Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I bought a car from a dealership and the load company took my car for non payment but I never had a contract with them nor sign and paperwork with them agreeing to pay them any money.

      Business Response

      Date: 09/16/2024

      The consumer entered into a contract with ******************* (the Dealer) for the purchase of a 2018 ****** Prius.   That contract was later assigned by the Dealer to Lobel Financial.  Upon assignment of the contract, Lobel provided a written notice of assignment to the customer and, shortly thereafter, a periodic monthly statement.  Lobel consistently communicated with the customer regarding her payment deadline.  As timely payment was not received, Lobel made a demand for the vehicle, which was voluntarily surrendered by the customer.

    Lobel Financial is NOT a BBB Accredited Business.

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