Monterey Financial Services, LLC is an Oceanside, California company that buys and services consumer installment accounts for merchants and also runs a contingency debt collection business. It may be contacting you about a vacation club, timeshare, education, elective medical or retail purchase that was financed through it.
- Type
- Collection agency
- Also known as
- Monterey Financial Services LLC; Monterey Collection Services; Monterey Financial
- Headquarters
- Oceanside, CA
- Collects
- timeshare and vacation club contracts, elective medical financing, education and training contracts, retail purchase financing, home improvement financing
- Phone numbers it lists
- (800) 456-2225, (877) 399-6374
- Website
- montereyfinancial.com
1,025 debt collection complaints were sent to the Consumer Financial Protection Bureau about Monterey Financial Services LLC from November 13, 2023 to November 12, 2026. A complaint is a consumer's account, not a finding that the company broke the law. Read the complaints in the CFPB database.
Who Is Monterey Financial Services?
Monterey Financial Services, LLC describes itself as a full-service receivables management company offering three lines of business: consumer finance, loan servicing and debt collection. Its website says it was founded in 1989, has more than 120 full-time employees and is headquartered at 4095 Avenida De La Plata, Oceanside, CA 92056. It names Kevin Weiss as CEO and Bob Steinke as cofounder.
A 2022 Connecticut Department of Banking order describes Monterey as a California limited liability company that has been licensed in Connecticut as a consumer collection agency since 1991 and as a sales finance company since 2009, and identifies it as doing business as "Monterey Collection Services."
Why Monterey Financial Services May Be Contacting You
Monterey sits in an unusual spot. On the finance side, it buys receivables from merchants: when a customer buys something on a payment plan, the merchant can sell that contract to Monterey, which then services it. The industries it lists include travel and timeshare (vacation club memberships), legal and tax services, elective medical procedures and devices, education and professional training, retail and e-commerce, and home improvement. On the collection side, it offers contingency-based recovery.
So a call from Monterey could be a routine servicing call about a contract you are still paying, or a collection call about one that has fallen behind. Its website lists a main line at (800) 456-2225 and an account services line at (877) 399-6374, and it offers a "Called in Error" form for people who believe they were contacted by mistake.
How to Check a Debt Monterey Financial Services Says You Owe
With a financed purchase, start with the contract you signed and the merchant who sold it.
- Ask what role Monterey is playing. Is it the owner of your contract, a servicer for someone else, or a collection agency for a third party? The answer affects which laws apply.
- If it is collecting as a debt collector, use the validation notice. The notice under 15 U.S.C. § 1692g and 12 C.F.R. § 1006.34 must state the creditor, itemize the balance and give your dispute deadline. Dispute in writing before that date to require verification.
- Get the contract. Ask for the signed retail installment or membership agreement, the payment history and any assignment from the merchant to Monterey. Timeshare and vacation club contracts often have cancellation rights and specific default terms.
- Raise problems with the purchase. If the program, product or service was never delivered, say so in writing. Depending on the contract, claims against the seller may carry over to whoever holds the contract.
- Watch the limitation period. In Texas, most suits on consumer contracts must be filed within four years (Tex. Civ. Prac. & Rem. Code § 16.004), and debt buyers may not sue on a time-barred consumer debt (Tex. Fin. Code § 392.307). Contracts signed under another state's law may use a different period.
What Monterey Financial Services Can and Can't Do
When Monterey collects consumer debts owed to another business, it is a "debt collector" under 15 U.S.C. § 1692a(6). When it collects a contract it owns, the FDCPA may not apply, but the Texas Debt Collection Act covers creditors collecting their own consumer debts. Either way:
- It may not misrepresent the amount owed or add charges the contract does not allow.
- It may not threaten to take your home, car or wages for an unsecured membership or service contract; Texas does not allow wage garnishment for ordinary consumer debts.
- As a debt collector, it is presumed to call too often if it exceeds seven calls in seven days on one account (12 C.F.R. § 1006.14(b)(2)).
- If you were contacted about someone else's account, tell Monterey in writing (its "Called in Error" form is one way) and keep a copy. A collector may not discuss another person's debt with you beyond limited location questions.
Monterey entered a 2022 consent order with the Connecticut Department of Banking about lending licensing, listed below. If you believe Monterey's collection conduct broke the law, see our Texas FDCPA attorneys page.
Government Actions on the Public Record
We Sue Debt Collectors That Break the FDCPA
Texas Debt Law files Fair Debt Collection Practices Act lawsuits against debt collectors in federal court for consumers in Texas, California, Illinois, Georgia and Colorado. If Monterey Financial Services or anyone collecting for it harassed you, misstated what you owe, threatened action it could not take, or told others about your debt, you may have a claim. A court can order a collector that violated the FDCPA to pay your actual damages, up to $1,000 in additional statutory damages, and your attorney's fees and costs (15 U.S.C. § 1692k(a)). An FDCPA claim generally must be filed within one year of the violation (§ 1692k(d)), so keep your letters, call logs, voicemails and screenshots, and talk to us early. Texas residents may also have claims under the Texas Debt Collection Act. Learn more from our FDCPA attorneys.
Free FDCPA Case Review(214) 851-2250
Or start your free case evaluation online. No lawyer can promise a result; every claim depends on its facts and proof.
Sources
- Monterey Financial: home page
- Monterey Financial: About
- Monterey Financial: Contact us
- Connecticut Department of Banking: Monterey Financial Services consent order (2022)
- CFPB Consumer Complaint Database: Monterey Financial Services LLC, debt collection
This profile is general information compiled from public sources, not legal advice, and it does not state or imply that Monterey Financial Services has violated any law. Company details change; tell us if something here is out of date.