3.8K views
New Reviewer
10 comments

After 30 months of faithful ontime payments the company would rather repo a financed motorcycle trailer than accept monthly payments again. Account was two months past due, due to an account number change at the bank.

I was a repo agent for 15 years and am very familiar with such scams. Why sell it when they can repo it and profit on it a second or third time? I once repoed a the same car five times for a company with very similar business practices. If you finance with this company beware, don't get behind.

They will repo your goods, auction it off to one of their so called "preferred dealers" for penny's on the actual value, sue you for the balance and refinance your item to another unsuspecting, hard to finance individual for an inflated price and interest rate. How else do you think they can afford to finance people with 450 credit scores

Location: Princeton, New Jersey

Do You Have Something To Say ?
Write a review

Comments

chat-icon

Please avoid publishing any personal information and promotional content

You will be automatically registered on our site. Username and password will be sent to you via email.
Post Comment
Guest

Why not sell these back to the customer. with a percent added to cover the cost of the repo.

simply math Kelly blue book x rate of the repo= Refinance to the new owner as is where is. Then if there is anything left owing take the person to court for the balance owed. Their are some hard working folks out here that pay their bills and would like a chance to buy reduced equipment.

In many case would pay cash money for them. Help your company regain your losses quicker.

Guest

since you were a repo agent then you are aware that repossessions are actually sold at auctions at a LOSS to the company. also Sheffield offers loan extensions and coupons for deferred payments....if you simply call and advise them of your situation , someone will try to help you out.

Guest

Make your payment and your *** wouldn't get repoed

Guest

I agree i have document showing i paid up every time on time. and i missed November i called them and let them know i am behind i lost my job but i want to make a payment arrangement for DEC 21, for DEC and Nov payment they new i was going to be out of town and repo my 4-wheeler on the 19th and said i can have it back if i pay full price 5800 or 3900 with or its being sold sorry that you feel that one month is late i made arrangements and you came and took it.

she go lippy and said no your 2 months i said its the 21st of December i am not late this month til 30days past do thank you and she said i don't care its you pay 5800 or 3900 or its being sent to action. wow i will never deal with this company an nor ever will i allow anyone in my family or friends deal with this company.

i know you make your payment note and i know that it was do in Nov and i knew it was going to be late, that is why i called them and gave a payment arrangement for both Nov and Decembers payment. screw them good luck!!

Guest

There "Repo agents" dont identify themselves and they never have sent us a certified letter..They was ORDERED off Our property and they kept BS'ing to try to get around me... I finally showed I am a Law Officer and They were about to be arrested.

Johnny P Bpn

Yep, obviously a Sheffield employee or one of the scam dealers that uses Sheffield to finance his product. As ohreally said "read the post".

The loan was and is being paid.

The mixup was with an account # change at my bank. Don't whine and claim its my fault because your scam has been figured out.

Guest

To "whatev", you obviously didnt read the customers complaint clearly so you better read it more clearly, you almost sound like you are from Sheffield...I am currently going through something similar but have no late payments with them whatsoever. so "whatev" do you work for their collection department at Sheffield or what??? If you do, I have a bone to pick with you too.

Guest

I call BS. If you were more then 20 or so days late, they make their first phone call.

More phone calls and letters sent between then and 2 months.

Certified letter before repo. Pay your loan then you won't have these sob stories

Guest
reply icon Replying to comment of Guest-529090

Well said, boo freaking hoo to all the bums not making their payments. I have my second loan with them and pay much more than minimum payment and my next payment may not be due for several months.

Pay it forward. And when money gets tight you'll be in the green zone.

Guest
reply icon Replying to comment of Guest-529090

don't think so, no letters ever from Sheffield financial, no certified letter, just came and took my mower, Owed 1 month and late payments they said they would remove...they can sue me but im self employed, no assets, and will more then likely let the courts know of this fraud.......

Sheffield Financial Reviews

  1. 79 reviews
  2. 18 reviews
  3. 0 reviews
  4. 7 reviews
  5. 9 reviews
Sheffield Financial reviews