Business ProfileforMonterey Financial Services LLC
Additional business information
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On April 13, 2022, Monterey Financial Services LLC entered into an Assurance of Discontinuance with the Massachusetts Attorney General's Office. The Assurance settles allegations that the business purchased and collected on leases for dogs. The business agreed to stop collecting on any active leases involving dogs in Massachusetts and transfer full ownership of the dogs to the consumers. The business agreed to cancel any outstanding amount owed on the leases, totaling approximately $700,000, pay $175,000 in restitution, and $50,000 in administrative penalties. The Assurance of Discontinuance was for settlement purposes only and Monterey denies that it engaged in any unlawful conduct or violated any law.
On April 13, 2022, the business also entered into a Consent Order with the Massachusetts Commissioner of Banks Debt Collector Licensing. The Order settles allegations that the business engaged in debt collecting and servicing purported lease agreements, which the Division alleges are in fact retail installment sale agreements on behalf of unlicensed sales finance companies. The business agrees to Cease and Desist the allegations mentioned above, pay an administrative penalty in the amount of $75,000, and distribute $175,000 to affected consumers on a pro-rata basis. The business agreed to pay $35,000 to certain Massachusetts consumers that were charged payment convenience fees. The Consent Order was for settlement purposes only and Monterey denies that it engaged in any unlawful conduct or violated any law.
This action is final.
Click here for the Assurance of Discontinuance with the Massachusetts Attorney General's Office.
Click here for the Consent Order with the Massachusetts Commissioner of Banks.
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On August 8, 2022, Monterey Financial Services LLC entered into a Consent Order with the Connecticut Banking Commissioner. The Oder settles allegations that the business received payments of principal and interest in connection with a small loan made to a Connecticut borrower without obtaining the required license. Under terms of the Order, the business was ordered to cease and desist from receiving payments of principal and interest in connection
with small loans made to Connecticut borrowers without the required license and pay a civil penalty of $10,000. The Order was for settlement purposes only and should not be considered as an admission of guilt or finding of violation of the law.
This action is final.
At-a-glance
Customer Complaints
98 complaints closed in last 3 years
65 complaints closed in last 12 months
Customer Reviews are not used in the calculation of BBB Rating
Related Categories
Overview
Business Details
This is a multi-location business.
- Location of This Business
- 4095 Avenida De La Plata, Oceanside, CA 92056-5802
- BBB File Opened:
- 2/4/1994
- Years in Business:
- 35
- Business Started:
- 8/17/1989
- Business Incorporated:
- 10/5/2015
- Accredited Since:
- 5/8/2000
- Type of Entity:
- Limited Liability Company (LLC)
- Alternate Business Name
- Monterey Loan Servicing
- Monterey Collection Services
- Monterey Billing Services
- Business Management
- Mr. Shaun Lucas, President/CEO
- Mr. Jeff Smith, Collections Manager
- Mr. Nate Lucas, Vice President of Operations
- Mr. John Owens, Executive Vice President
- Ms. Lisa Pruitt, Vice President, Support & Compliance
- Ms. Amelia Klobchar, Employee Development Manager
- Ms. Stephanie Guffanti, Collections Manager
- Ms. Desiree Turner, Compliance Paralegal
- Ms. Vanessa Moreno, Servicing Supervisor
- Ms. Jessica Hernandez, Servicing Supervisor
- Contact Information
Principal
- Mr. Shaun Lucas, President/CEO
- Mr. Nate Lucas, Vice President of Operations
- Mr. John Owens, Executive Vice President
- Ms. Amelia Klobchar, Employee Development Manager
- Ms. Jessica Hernandez, Servicing Supervisor
Customer Contact
- Mr. Jeff Smith, Collections Manager
- Mr. Nate Lucas, Vice President of Operations
- Mr. John Owens, Executive Vice President
- Ms. Belen Delatorre, Senior Manager of Business Intelligence
- Ms. Erin Crew, Servicing Manager
- Ms. Amelia Klobchar, Employee Development Manager
- Ms. Desiree Turner, Compliance Paralegal
- Additional Contact Information
Fax Numbers
- (760) 639-3501Primary Fax
Phone Numbers
- (800) 456-2225Other Phone
- (877) 399-6374Other Phone
Email Addresses
- Primary
- (760) 639-3501
Customer Complaints
98 Customer Complaints
Need to file a complaint? BBB is here to help. We'll guide you through the process. How BBB Processes Complaints and Reviews
File a ComplaintMost Recent Customer Complaint
10/16/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
Customer Reviews
1,291 Customer Reviews
What do you think? Share your review.
Most Recent Customer Review
Thomas B
5 stars11/22/2024
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.