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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.
    • 19 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:09/01/2024

      Type:Service or Repair 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 purchased a vehicle from company back in 2016, over five years ago , unfortunately due to financial hardships the car was reposed. Before the car was placed to be reauctioned, I requested to pay the amount owed. Lobel told me I cant and I need to pay the amount due. a year later, I contacted lobel again to see if I can pay a lump some payment the car was then resold auction. I requested to pay the difference at the time, lobel told me no once again. lobel did not want to come to agreement regarding account. ********************** then proceed to report to my credit companies inaccurate and false amount owed on account. ********************** had a class action lawsuit against them for the fraudulent reporting's and accounts. somehow they still want to report to credit company and keep harassing me via family members

      Business Response

      Date: 09/16/2024

      Lobel's records reflect that, in February 2017, this consumer entered into a retail installment sales contract for the purchase of a 2007 *** 328i from ****************  That contract was originally assigned to Lobel.  However, as certain conditions were not met, the contract was assigned back to the dealer in early March 2017.  Lobel did not repossess the vehicle and has had no contact with the consumer. Once the contract was assigned back to the dealer, Lobel reported the account as paid in full. Given the passage of time and the consumer's request, Lobel will submit a request to the credit bureaus to delete the tradeline with respect to the account.

    • Initial Complaint

      Date:07/18/2024

      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 FIN 60****BAL OWED: $7,283 Date Opened: 12/26/2017 THIS INACCURATE ACCOUNT IS SHOWING UP ON MY EXPERIAN AND TRANSUNION CREDIT REPORTS. PLEASE BLOCK AND REMOVE THIS INACCURATE ACCOUNT WITHIN 5 BUSINESS DAYS.

      Business Response

      Date: 07/30/2024

      Lobel Financials file reflects that, on 12/26/17, this consumer entered into a retail installment sales contract with The Vehicle Exchange for the purchase of a 2012 ****** Altima.  Lobel Financial is the assignee and holder of that contract.  The consumer made approximately 12 payments towards the amount owed on the contract, but failed to make any payments after January 2019. As a result, the subject vehicle was repossessed and resold.  Since the sale proceeds were not sufficient to satisfy the outstanding amounts owed, a deficiency balance remained.  In 2018 and 2019, Lobel Financial sent this consumer, among other things, account statements, a Notice of Intent to Sell the vehicle after it was repossessed,and a deficiency balance notice.  At no time while payments were made on this account, or when ******************** sent the consumer notice regarding the repossession and deficiency balance, did the consumer claim identify theft.  Moreover, and although this consumer has previously reached out to Lobel directly regarding the alleged identify theft, she has consistently failed to provide documentation requested by Lobel Financial to conduct the investigation, including but not limited to a police report.   If the consumer provides the required information to Lobel Financial, the investigation into the alleged identify theft claim will continue.  But,absent receipt of that information, Lobel Financial will not take any further action.         

    • Initial Complaint

      Date:05/10/2024

      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.
      Payment was due April 18 2024 and was paid May 2 due to a discrepancy in pay period(missing hours due to getting switched to a new project). **************** was called Apr 22 and 29 to advise of late payment in which customer service mentioned that it would be okay. No repos on file or orders of any, according to agent. As of today, May 10, was called from purchasing dealership that my car was lost due to a buy back/out and that car will be removed from me on 5/14. My payment was gladly accepted on May 2 without being advised that I had already lost my car.. In order for me to keep my car, I have to pay the total amount.. its ridiculous!

      Business Response

      Date: 06/04/2024

      The consumer entered into a contract with Brothers Auto Sales (the Dealer) for the purchase of a 2022 Dodge Charger.   The contract was then assigned to Lobel Financial.  As the consumer failed to timely make the first payment due on the contract, Lobel made a demand to the Dealer to repurchase the contract pursuant to the operative dealer agreement between Lobel and the Dealer. Lobels communication to the Dealer was clear that Lobel remained the holder and servicer of the contract and the Dealer had no right to contact the consumer or seek relief under the contract, including repossession of the vehicle, until after the repurchase was fully consummated. Lobel withdrew the repurchase demand and continues to be the current holder and servicer of the consumers contract at this time.  The account is current,and the next scheduled payment is due June 18, 2024.  The Dealer is a separate and unrelated entity to Lobel.  As such, we are unable to speak to any claims or representations made to the consumer by the selling dealership.

    • Initial Complaint

      Date:03/21/2024

      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 have paid off my vehicle and lobel is still refusing to send me my title. I was first told that I owed late fees and had to pay $57, but when I showed them my bank statements showing I have always covered any late fee with my monthly payment. The excuse then became that I didnt have insurance for a 10 day period in Feb of 2020. I have emailed and faxed proof of insurance and yet they still refuse to send my title.

      Business Response

      Date: 03/29/2024

      Lobel Financial has investigated the consumer's complaint.  As we did not have valid proof of insurance on file for a period of time in 2020, a waiver of physical damage protection charge was applied to the account.  We contacted the consumer's insurance company at the time and have confirmed with State Farm that the vehicle was sufficiently insured.  Adjustments have been made to the account and now reflects a zero balance owed.  A paid in full letter was mailed to the address on record on 3-27-24 and we have initiated a request to the *** to release the electronic title to the consumer.

    • Initial Complaint

      Date:03/20/2024

      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 am not liable for this debt with Lobel Financial, I do not have a contract with Lobel Financial CORP, they did not provide me with the original as I requested

      Business Response

      Date: 03/21/2024

      We have reviewed the information supplied and are unable to locate an account with the information provided.  We request additional information such as the Lobel Financial account number or a copy of the credit report so we locate the account in dispute and investigate the consumer's concerns.

    • Initial Complaint

      Date:03/15/2024

      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 have no affiliation with Lobel Financial nor do I have an account with them. I recently pulled my credit report and a joint account with an unknown person is listed through Lobel Financial. I have disputed it but Lobel Financial will not provided me with the application nor the contract for the vehicle they say I took the loan out for, after I have requested it several times. I have now made a police report but Lobel Financial refuses to give me any information on this loan however, its listed on my credit report. I have called them 3 different times and they basically tell me there is nothing they can do to help me and will not release any information. They also reported to the credit agency that my address was in *****, when I have only ever lived in ********** and listed a different employer, who I have never worked for!

      Business Response

      Date: 03/15/2024

      Lobel Financial is unable to locate an account with the information provided.  As the consumer references their credit report, we ask that they provide a copy of the credit report or, the Lobel Financial account number reported to the credit bureaus so we may further research the complaint.

    • Initial Complaint

      Date:02/16/2024

      Type:Service or Repair 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 charged me a late for of $15.00 in December of 2023 when I had sent my check 10 days prior to them cashing it on December 27th. Late would have been Christmas December 25th. It's not my fault that the mail is slow, and they don't work holidays, IF that's the case. After three (3) calls to dispute this now Lobel refuses to take any responsibility for this and will not remove this frivolous charge! Today I realized that they (Lobel) did NOT send me a statement for the month of February 2024., I called after making my payment online which added a $5.00 free seeking that $5.00 and the $15.00, they wrongfully charged in December. Again, after calling and being placed on hold for five minutes Lobel once again takes NO responsibility, said that the statement was mailed, but yet I do not have one, so I guess I am the liar! I want them to credit my account the $20.00 they owe me and if not then I guess we'll get into the unauthorized GAP charge that was also never credited back of $1,900.00!

      Business Response

      Date: 03/11/2024

      Lobel Financial disagrees agrees with the consumers contentions.  We reached out to the customer directly to address their concerns.  A copy of their contract and payment history statement have also been mailed to the address on record.

       

    • Initial Complaint

      Date:02/05/2024

      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 not liable for this debt with charter communication, I do not have contract with CREDIT COLLECTION SERVIC. they did not provide me with the original contact as I requested.

      Business Response

      Date: 02/12/2024

      Lobel Financial has reviewed the customer's complaint and determined that this does not appear to be a valid complaint for Lobel Financial and may have been sent in error.  Please take note, the customers statement filed with the BBB references the company, Charter Communication, and is as follows:

      I am not liable for this debt with charter communication, I do not have contract with CREDIT COLLECTION SERVIC.they did not provide me with the original contact as I requested.

    • Initial Complaint

      Date:02/03/2024

      Type:Service or Repair 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.
      So I got a vehicle financed by this company in March 2018 but it was written off after a appraiser came to my house due to my having a auto accident so I was told I had two offer pay $500 and return the car or pay $800 keep the car and get the pink slip.Once I went to the office to make the payment to keep the car and get the pink slip I was told a different cash amount ($1200).Before I was able to pay the rest of the money I got a dui and hit a polr so when I went to jail my car went to the tow yard.Adter being released from the jail I went to the tow yard to pay to get my car out but was told I needed a pink slip.From my understanding if I couldnt make the payment the car would be sent back to the finance company.I havent have this car since 2018 and they have been charging me for payment every month.My car was wrote off due to the accident and I didnt owe the amount that posted on my credit report.I been working on building my credit but every month these ******* are reporting a last payment when they should have been had possession of the car because I dont have it.I have contacted them plenty of time but no one will give me help me then just say I owe for the car.The amount they claim I owe now is more than the car was selling for at the car lot!!I would like to *** if possible because they have ruined my credit and reporting false information to my file because they should have the car

      Business Response

      Date: 02/12/2024

      Lobel Financial is the holder of the vehicle sales contract that is the subject of the consumers complaint.  Lobel Financial reviewed the consumers complaint as well as the account and credit reporting history. After conducting that review, Lobel determined that the account balance was reported inaccurately after a Loss Damage Waiver claim was successfully submitted in or about November 2018.  The account balance after the application of the Loss Damage Waiver was $799.  That balance was conveyed to the consumer during a phone call on November 29, 2018.  The credit reporting will be updated immediately to reflect that $799 balance.   

      Customer Answer

      Date: 02/13/2024

      I came to the office and made a payment of $500 my balance should not be $799.It should be nothing because you guys have possession if there vehicle and has the vehicle since 2018.The balance should be completely cleared since you guys have the car

    • Initial Complaint

      Date:01/31/2024

      Type:Service or Repair Issues
      Status:
      Resolved
      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 reliable for this debt with LOBEL FINANCIAL CORP. the vehicle was sold and the remaining balance should be compensated

      Business Response

      Date: 02/05/2024

      The consumers statement that the vehicle was sold is incorrect.  The consumer breached the terms of the subject contract in 2017 by failing to make the required payments.  At that time, the consumer advised of his willingness to voluntarily surrender the vehicle.  However, given the significant mechanical repairs required to render the vehicle operable, the cost of repossession was more than the value of the vehicle itself.  As such, Lobel Financial did not repossess the vehicle.  The account has since been charged off, and Lobel Financial is correctly reporting the status of the account to the credit agencies. 

      Customer Answer

      Date: 02/05/2024


      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.

      Regards,

      *******************

       

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