Do you think First Investors Financial Services Inc is not playing fair? You have rights under the law and we can help you at no cost to you. UDAAP is an acronym representing laws that prohibit Unfair, Deceptive, or Abusive Acts or Practices in the context of trade or business.
THE BEST PART IS…
If First Investors Financial Services Inc violated the law, you may be entitled to money damages and First Investors Financial Services Inc will pay our fees and costs. You won’t owe us a dime for our services. Plus, some of our clients also receive debt relief and cleaned-up credit reports. You have nothing to lose! Call us today at 312-300-5996 for a free consultation.
What is First Investors Financial Services Inc?
First Investors Financial Services Inc began business in 1988. It operates as an automobile finance company offering its services to auto dealers and consumers. First Investors Financial Services Inc’s financial solutions include direct and indirect lending, portfolio acquisitions, and third-party servicing.
First Investors Financial Services Inc has reportedly financed over 500,000 loans since 1988. The company issues specific disclosures following state legislations.
First Investors Financial Services Inc Address, Phone Number, and Contact Information
Title Department
5757 Woodway Dr Ste 400
Houston, TX 77057
https://www.fifsg.com/
+1 800-249-6305
Monday – Friday: 8am-6pm EST (Customer Service)
Incredulous Interest
A major complaint against First Investors Financial Services Inc is with their exorbitant interests. According to accounts from multiple clients, the company had been funneling most of the monthly payments to the customers’ interests instead of the principal. This has resulted in payments barely making a scratch on the principal.
Stalled Title Issuance
Another point of concern for many is with First Investors Financial Services Inc’s title issuance. After paying off their accounts, some clients lamented about waiting for their titles for months. Others reported that after waiting for weeks and requesting an update for their titles, First Investors Financial Services Inc claimed they had unpaid amounts contradicting their initially settled accounts.
Dismal Customer Service
First Investors Financial Services Inc’s customer relations had been disappointing, to say the least. Clients who had inconsistencies with their billing were met with contradicting statements from different employees. Others were met with unhelpful responses after mistakes on First Investors Financial Services Inc’s end.
Unfortunately, astronomical interests, fraudulent credit applications, delated titles, and lousy customer relation complaints are just the beginning for First Investors Financial Services Inc. The company’s customers are left wondering what options they have regarding their consumer rights.
We Fix Complaints When Customer Service Won’t
Has First Investors Financial Services Inc used misleading sales tactics? Have you received poor service? Do you have complaints with billing? Do you want customer service at First Investors Financial Services Inc to listen?
A lot of First Investors Financial Services Inc Corporation customers aren’t happy with their service and the Better Business Bureau lists 30 customer complaints against the company in the past three years, including complaints for billing and collections practices, problems with a service/product, advertising and sales, among others.
If your complaints haven’t been heard, we can help. At Mike Agruss Law we help customers who have been mistreated by big companies–much like First Investors Financial Services Inc–and we turn your complaints into resolutions!
We’ll not only file your legal demands with First Investors Financial Services Inc, we’ll negotiate with the company. If your claim isn’t resolved through these negotiations, we’ll work through the legal process that is outlined in your First Investors Financial Services Inc contract, which is typically arbitration.
Mike Agruss Law gets results–including zero balances, refunds, and other compensation.
Here’s How to Make Big Companies Listen
It can be frustrating when you rely on a service and don’t get the results you’ve paid for. Big companies make mistakes every day and not only is it their fault, but it can also cost you money, time, and leave you with big headaches.
Have you tried calling First Investors Financial Services Inc to address an issue, only to be told that the representative has no authority to do so? Or maybe you’ve tried talking to someone higher up in the company, only to be ignored, dismissed, or they take too long, continuing to waste your precious time. Maybe you’ve sent an email to the company which only resulted in a prefabricated response or they never follow through with what they’ve promised.
When you’re limited in your choices for service providers or you’re locked into a contract, what can you do?
Fortunately, you do have options.
Use Arbitration to Settle Your Complaint
Most companies like First Investors Financial Services Inc have an arbitration clause in their contracts to prevent being taken to court for traditional litigation. This is actually an advantage for the consumer. When you request an arbitration hearing, an independent third-party (the arbitrator) with knowledge of the type of situation involved will listen to the facts from both sides and make an impartial, binding decision. First Investors Financial Services Inc will have to do a lot of work and there is no guarantee that they will have a successful outcome.
Arbitration is Fast, Inexpensive, and Private
Arbitration with First Investors Financial Services Inc is conducted through the American Arbitration Association (AAA). According to the AAA Consumer Due Process Protocol, arbitration through AAA will comply with their Statement of Principles, which includes:
- The process is fundamentally fair – All parties are entitled to qualified, competent, impartial arbitrators who will conduct a fair hearing.
- You get access to all relevant information – This includes reasonable costs, confidentiality, reasonable time limits, and meeting times and/or locations that are agreeable to both parties.
- Transparency – AAA provides clear arbitration agreements and the ability for each side to hire their own representation.
- Just process – Arbitration allows the arbitrator to award the same relief as traditional litigation in a binding decision.
- Alternative to arbitration – Mediation and the ability to take the case to small claims court should be available in some cases.
Arbitration Gives you Control and Leverage
When First Investors Financial Services Inc is alerted that you plan to pursue arbitration, they know it will cost them money out of pocket. Not only do they run the risk of losing the case, but they will also pay for their mistake(s) and the arbitration itself. This gives you more leverage with your demands.
If First Investors Financial Services Inc doesn’t meet those demands and you have a real complaint, Mike Agruss Law can help by representing you in arbitration where you will get a fair, just, and transparent hearing.
Control and Leverage Triggers Faster Settlements
Large companies like First Investors Financial Services Inc don’t like the uncertainty and loss of control that comes with arbitration. Not only do they lose the advantage in the situation, but you’re also on equal footing with them in the eyes of arbitration.
The first step in taking on First Investors Financial Services Inc is to formally raise your complaint. The lawyers at Mike Agruss Law can help you to do so. We will send a letter of demands to the corporate offices of First Investors Financial Services Inc, letting them know that you’re ready to begin arbitration if a satisfactory resolution is not achieved. Typically, this is 30 days, but it will depend on your specific contract with First Investors Financial Services Inc.
Approximately 50% of cases will settle before proceeding to an arbitration hearing during this time. However, if First Investors Financial Services Inc doesn’t offer a reasonable settlement within the appropriate time frame, the next step would be filing a case with AAA. Mike Agruss Law will not only put together the necessary paperwork for arbitration, but we will also help you take the next steps in the arbitration process.
UDAAP and Arbitration
UDAAP is an acronym representing laws that prohibit Unfair, Deceptive, or Abusive Acts or Practices in the context of trade or business. This includes misrepresentation, deception, false advertising, or false promises. These laws emerged following the Dodd-Frank Wall Street Reform and Consumer Protection Act that was enacted in response to the 2008 financial crisis. The ultimate goal with these laws is geared towards protecting consumers involved in financial transactions, educating consumers on their rights, and allowing them access to information and resources to best inform their decisions.
UDAAP laws are regulated by two organizations, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC). The FTC expanded the initial UDAAP laws in 2004 to include unfair and deceptive acts and practices. Some standards for unfairness, in particular, include if it causes or is likely to cause substantial injury to consumers, the injury is not reasonably avoidable by consumers, and the injury is not outweighed by countervailing benefits to consumers or to competition.
Every state has UDAAP laws, which can vary widely. However, the lawyers at Mike Agruss Law understand these laws and can use them to get compensation for deceptive practices, representing consumers throughout the country in cases of arbitration at no cost to them. The company will not only pay the consumer, but they will also pay my fees as well. The consumer will never pay me a cent.
If you’re dealing with an issue with First Investors Financial Services Inc, you might try filing a complaint with the BBB or the customer service team with First Investors Financial Services Inc. Unfortunately, these avenues won’t always lead to a successful resolution for you, the customer. Instead, you may want to consider an experienced arbitration lawyer to take on your case.
Arbitration is a very useful tool for resolving disputes, and Mike Agruss Law can help. With our expert guidance, we bring the big companies to the table and provide the support needed to get your bills corrected, credit reports fixed, improper fees refunded, and more. Let us pick up the sword for you; you have nothing to lose.
How Do I File a Complaint Against First Investors Financial Services Inc?
We will use your state’s UDAAP law to file a complaint in Arbitration on your behalf at no cost to you. UDAAP laws include misrepresentation, deception, false advertising, or false promises. Under your state’s UDAAP law, you are likely entitled to money damages for your actual damages. Plus, the other side will pay our fees and costs. You will not pay us a penny. These laws emerged following the Dodd-Frank Wall Street Reform and Consumer Protection Act that was enacted in response to the 2008 financial crisis. The ultimate goal with these laws is geared towards protecting consumers involved in financial transactions, educating consumers on their rights, and allowing them access to information and resources to best inform their decisions.
People, First
We are proud to serve consumers in arbitration cases. We see you as a person, not just a client – and that makes us better at the work we do. We listen. We learn your story. And, as we help you get the money you deserve, we go above and beyond in a way most law firms never could and never would. Because we’re not just lawyers. And you’re not just a client. We’re friends, neighbors, family. We’re all people and here at Mike Agruss Law, we put People, First.
Share Your Complaints Below Against First Investors Financial Services Inc
We encourage you to post your complaints about First Investors Financial Services Inc. Sharing your complaints against this big company can help other consumers understand what to do when they have problems with this company. Sharing your experience may help someone else!
Submitted Comments
First investors scammed me into an extremely high interest rate upon a refinance to lower my payments initially, that ended up turning my loan upside down. They also lied to me, assuring that they would put my payments on hold for three months due to financial conditions, some type of forbearance program they were offering, I signed papers on it and one month later I received a notice stating that they were not going to work with me on the program and resumed my payments immediately without forewarning, on which I already had a slight balance, which then threw my car into default, which ultimately lead to the illegal repossession of my vehicle. The loan was not even 90 days behind and they repossessed it and failed to try and work with me on attempting to bring the loan back into good standing
i had just sent you a little about my situation with first investors. letting you know i really need my truck back today or tomorrow. they want me to pay it in full and i can not also i have told them that i was sick last year with covid and in and out of the hospital with phnemonia so i have been trying to make up the payments. i pay it in 2 parts half the first part of the month and the other later in the month so to them im always late. i hope you can help
My complaint is similar to others the interest all the money goes to interest. I am late I get a letter today saying they want to repo I am not 3 months behind. They gave me a 3 day notice they want to repo the car. I can pay it in full on the 8th but they want to repo it because I can’t pay it on the 2 nd of Sept. before if I was behind I would get 20 calls a day now I have got none just the letter. Something is just off with this company.
my initial complaint to first incesters with the BBB:
On June 14, 2023 I attempted to make an online payment as i am aware my account is past due. While attempting to make the payment, i was notified by big bold red letters that my account has been referred for repossession. I was shocked although i was aware that my account was past due haven not received any collection calls or a Right to Cure Notice. When my account was past due 1/2 of DEC, JAN and FEB, I received collection calls EVERY DAY back to back in MARCH even after i informed an agent my financial issues and the date i would be able to make my next payment the phone calls never stopped. I made a payment of 720 in MARCH which brought my past due balance up until FEBRUARY. In APRIL i made another payment of 320 which is a little over half of my monthly payments so i still owed the rest of FEBRUARY, MARCH and APRIL so now we\'re in JUNE and I owe the past months including MAY i wanted to make a payment for the remainder of FEBRUARY and then MARCH and was unable to due to the account being in repossession status. I called and spoke with an agent in the collection dept for my current status, the name of the agent is Alan Ortiz, who is ABSOLUTELY dreadful, The young man yelled at me, spoke over me, and would not listen to what I was saying or reiterate what I saying correctly. Of course i tried to make a reasonable payment arrangement to remove my account in its current status but was told it was not enough and that i would need to make the full amount due of 1765 even though I explained my financial distress and regardless of the fact i NEVER received a letter, a phone or a Notice to Cure WHICH IS THE MOST IMPPORTANT PART BECAUSE A FINANCE COMPANY CAN NOT REPOSESS THE PROPERTY WITHOUT FIRST PROVIDING THE NOTICE AND ALLOWING THE CONSUMER 20 DAYS TO GET THE ACCOUNT IN GOOD STANDING. So WHHYYYY am i at this point and how we can come to an amicable solution? Had i known the lack of integrity this company has i would NEVER have refinanced my Loan.
i can submit emails back and forth trying to work out a payment plan with them but it seems that they are trying to take legal matters
My husband had a bone infection in his foot so severe that they were considering amputation. He had 6 weeks of IV antibiotics and wound care. Was in the hospital a week. No work for 6 months. They told us we could defer a few payments if we could pay a few. When I called to set it up I was told we didn\'t qualify and basically if we don\'t give them the full 6 months we are behind they will repossess. I\'ve called and talked to 6 different people all rude and refusing to help in any way. This is our only car we just bought last April and really want to keep it. They said I can make payments but will remain up for repossession. They also have applied nothing to principle all going to interest. This place should be shutdown. Do not refinance through open road this is who you\'ll get. Open road are liars too.
I reside in 2 states. We own a home in Texas and in Florida. My vehicle is registered in Texas since it is pointless to register in both states. I purchased a vehicle with Carvana and later refinanced through Open Road Lending. I though this process would lower my monthly payment, and it did \"about 5 bucks\'. The process required a ton of documentation, and I was never told that 1st Investors would be the creditor. The majority of my payments go toward the astronomical interest. The loan feels like it is designed to skim as much interest as possible before the remaining amount is place toward the principle. I called customer service and asked about an interest rate reduction, \"but all I got was rude treatment informing me that I am obligated in the loan until 2027\". After the shock wore off, I filed a better business bureau complaint to ask about the interest reduction again, \"my complaint was never answered\". I understand the process of Arbitration since I am also a paralegal, and I would like to challenge 1st investors. My credit score has increased 51 points, 1st investors will not even discuss a rate reduction, I am unable to trade my vehicle for a new car due to the interest being charged, and the principle that doesn\'t seem to go down. Asking about a reduced interest rate doesn\'t raise any eyebrows, \"so I am considering a voluntary surrender after I get a new vehicle\". These people are predators working with a spiderweb company called Open Roads.
I am very disappointed with first investors finance. I was 2 months behind on my bill due to hardship and trusting the wrong people they repo my car the day before I had a payment agreement with them to pay 1 mo th and they were gonna defer the second payment to the end of the loan. When I called to inform them I was trying to get my car back they said they doing have to give it back and I would have to pay 1947.02 when I made agreement to pay for 445. The repossession representative was very nasty she told me I had to apply by filling out a reinstatement application to get my car back and it takes up to 48 hours to get a decision to get a car back that I am responsible for. Please help. I am working and going to school and I feel they are trying to scam me out of more money.
In April 2022 my car was repossessed due to lateness on my FIFSG auto loan. The day it was repo\'d both myself and my wife told the repo agent from Commonwealth Recovery Group that we contested the repo. I was in the process of filing Chapter 13 bankruptcy. The repossession agent took it anyway, despite the repo order instructing him to leave the vehicle if contested. Once the vehicle was taken I reached out to FIFSG to talk options. I explained that I was filing bankruptcy. They immediately searched bankruptcy records for my WIFE and said she filed on her own and I was lying. It\'s true she had filed, but I was filing separately as I had not filed with her in 2018. I told them about the repo agent taking the vehicle after protest and they said they didn\'t care, they had it now and unless I paid the FULL loan amount (not just past due), I\'d never see the truck again. I tried complaining my way through supervisors but it all kept coming back to a Jonathon Poss who would be extremely rude and nasty to me. He told me that it was up to him whether I had to pay just the past due or the full balance and he, he alone, decided to make me pay the full balance. He said it is because I lied (I didn\'t) and that I had filed a CFPB complaint and he didn\'t like that. He took something which should not have been personal, and based my entire financial situation off of his personal dislike of me.
In April 2022 my car was repossessed due to lateness on my FIFSG auto loan. The day it was repo\'d both myself and my wife told the repo agent from Commonwealth Recovery Group that we contested the repo. I was in the process of filing Chapter 13 bankruptcy. The repossession agent took it anyway, despite the repo order instructing him to leave the vehicle if contested. Once the vehicle was taken I reached out to FIFSG to talk options. I explained that I was filing bankruptcy. They immediately searched bankruptcy records for my WIFE and said she filed on her own and I was lying. It\'s true she had filed, but I was filing separately as I had not filed with her in 2018. I told them about the repo agent taking the vehicle after protest and they said they didn\'t care, they had it now and unless I paid the FULL loan amount (not just past due), I\'d never see the truck again. I tried complaining my way through supervisors but it all kept coming back to a Jonathon Poss who would be extremely rude and nasty to me. He told me that it was up to him whether I had to pay just the past due or the full balance and he, he alone, decided to make me pay the full balance. He said it is because I lied (I didn\'t) and that I had filed a CFPB complaint and he didn\'t like that. He took something which should not have been personal, and based my entire financial situation off of his personal dislike of me.
In April 2022 my car was repossessed due to lateness on my FIFSG auto loan. The day it was repo\'d both myself and my wife told the repo agent from Commonwealth Recovery Group that we contested the repo. I was in the process of filing Chapter 13 bankruptcy. The repossession agent took it anyway, despite the repo order instructing him to leave the vehicle if contested. Once the vehicle was taken I reached out to FIFSG to talk options. I explained that I was filing bankruptcy. They immediately searched bankruptcy records for my WIFE and said she filed on her own and I was lying. It\'s true she had filed, but I was filing separately as I had not filed with her in 2018. I told them about the repo agent taking the vehicle after protest and they said they didn\'t care, they had it now and unless I paid the FULL loan amount (not just past due), I\'d never see the truck again. I tried complaining my way through supervisors but it all kept coming back to a Jonathon Poss who would be extremely rude and nasty to me. He told me that it was up to him whether I had to pay just the past due or the full balance and he, he alone, decided to make me pay the full balance. He said it is because I lied (I didn\'t) and that I had filed a CFPB complaint and he didn\'t like that. He took something which should not have been personal, and based my entire financial situation off of his personal dislike of me.
My mother passed away August 2022 I had to deal with that and figure out her affairs and how to afford the Bill\'s since her money stopped coming in and it is not easy. I can not afford an attorney and I do not qualify for legal aide.. First Investor is taking us to court. The first letter came shortly after my mother\'s passing which just put in more of a depression, in the letter they mention about police officers and that we were hiding the vehicle or refusing to give the car up which is not true did not even know they were reporting until the letter. I had told them about two or three times about two years ago to come and get the car and never heard a word back till all this court stuff. They want us in court on the 21st of Devember and I can not make I have copd and perpetual disease of my legs just operation on both legs, but still having problems to the point they really feel like they are going numb just trying to walk to the court I would have to stop to catch my breath and for my legs losing up from the tightness, plus if I have to explain that has been going on and what I am going through I would just start crying. They are just putting us through a lot from their calling up to three or more calls a day and not coming to get the car when told to come get it. Please I really need the help and I did write the court twice.
My mother passed away August 2022 I had to deal with that and figure out her affairs and how to afford the Bill\'s since her money stopped coming in and it is not easy. I can not afford an attorney and I do not qualify for legal aide.. First Investor is taking us to court. The first letter came shortly after my mother\'s passing which just put in more of a depression, in the letter they mention about police officers and that we were hiding the vehicle or refusing to give the car up which is not true did not even know they were reporting until the letter. I had told them about two or three times about two years ago to come and get the car and never heard a word back till all this court stuff. They want us in court on the 21st of Devember and I can not make I have copd and perpetual disease of my legs just operation on both legs, but still having problems to the point they really feel like they are going numb just trying to walk to the court I would have to stop to catch my breath and for my legs losing up from the tightness, plus if I have to explain that has been going on and what I am going through I would just start crying. They are just putting us through a lot from their calling up to three or more calls a day and not coming to get the car when told to come get it. Please I really need the help and I did write the court twice.
