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How to Settle Debt With Wilshire Consumer Credit

George Simons | January 28, 2025

Fact-checked by Patrick Austin, J.D.

Patrick Austin
Attorney from George Mason
Patrick Austin, JD

Patrick Austin is a licensed attorney with a background in data privacy and information security law. Patrick received his law degree at George Mason University's Antonin Scalia Law School, where he served as the Editor-in-Chief for the National Security Law Journal.

George Simons
Co-Founder of SoloSuit
George Simons, JD/MBA

George Simons is the co-founder and CEO of SoloSuit. He has helped Americans protect over $1 billion from predatory debt lawsuits. George graduated from BYU Law school in 2020 with a JD-MBA. In his spare time, George likes to cook, because he likes to eat.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Summary: To settle debt with Wilshire Consumer Credit, be open and honest in your communication. Make an offer to settle (less than the maximum you can afford to pay), and be prepared to negotiate. Debt collectors are typically willing to work with you, and Solo can help you streamline the settlement process.

Debt collectors can make you cringe when your phone rings. They could be calling for the umpteenth time to ask about an unpaid debt. If you have been contacted by Wilshire Consumer Credit about a delinquent account, do not give up hope. There are proactive steps you can take to resolve your debt issue, including negotiating a debt settlement.

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You can negotiate debt settlement at any stage of the collections process. SoloSettle makes it easy.

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What is Wilshire Consumer Credit?

Wilshire Consumer Credit (WCC) is a small auto-financing company located in Los Angeles, California. It offers loans to consumers looking to buy a new car. The company has been in business for over 33 years, with an A+ from Better Business Bureau (BBB).

Why is Wilshire Consumer Credit collecting on behalf of the original creditor?

Original creditors avoid the debt collection process because it can cause more revenue loss than gain. It involves following up with people who may not be willing to pay the debt, resulting in wasted time and potential legal problems. Some other concerns original creditors have about a debt include:

  • Is the debt worth the time, investment, and effort?
  • Are they able to prove the debt in court?
  • Is the debtor still in their jurisdiction?
  • Could the process of debt collection be dangerous for them?
  • Will you be too emotionally invested and violate the law?
  • How long will it take to collect the debt?
  • What is the debtor's financial situation? Can they pay?

These concerns can be challenging to handle. Hence, creditors prefer selling the debt at a lower price or employing a debt collection agency to follow up.

What can I do to stop Wilshire Consumer Credit from calling me?

The law allows collection agencies to call you seven times a week. Still, most of them violate this law and make several calls a day. The following are the steps to take to stop WCC from calling you:

  • Send a cease and desist letter: This document asks WCC to stop all calls because it infringes on your rights. Send it via US-certified mail to ensure delivery and use it as leverage in case of a lawsuit.
  • Request WCC to validate the debt: Collection agencies do not like to receive this request, and they may stop their attempts to collect once they receive a debt validation letter from you. This document requires WCC to send more information regarding the debt in question.
  • Dispute the debt: If the information received contains errors, or you believe the debt is not yours, dispute it with Equifax, Experian, and TransUnion credit bureaus to remove or correct it. The bureaus will investigate with WCC before deciding on which action to take.
  • Plan to pay the debt: WCC will stop their attempts to collect once you commit to paying the debt. Show your commitment by making the first payment promptly and following up to make sure they update your account's information.

These steps stop WCC from contacting you repeatedly, which gives you time to plan your way forward. Remember to report any law violation to the Fair Trade Commission website or your attorney general's office as you go through this process.

When can I negotiate settlement payment with Wilshire Consumer Credit?

Debt collectors are known to intimidate consumers until they blindly make payments without verifying the debt. They may play along with your request to pay less but later send a balance because you did it without a written agreement. Do not negotiate for payments until you:

  • Confirm the debt collector is from WCC and not a scammer
  • Request more information about the debt and confirm that it's rightfully yours
  • Send a debt validation letter to acquire the creditor's information and verify the debt details
  • Ask WCC to enter into a written agreement after negotiation, and they accept to sign

Begin negotiation after going through the above process. Aim at getting an agreement that allows you to pay 50% or less of the original debt. WCC will require you to pay the whole amount or more than three quarters and the rest within a short period.

If WCC has already taken the case to court, you should file your Answer in court before you begin the settlement negotiation process. This will block a default judgment and give you time to work out an agreement before your court date. Keep reading to learn more about drafting and filing an Answer to your lawsuit against Wilshire Consumer Credit.

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Read Wilshire Consumer Credit reviews online

Many people have gone online to share their experiences interacting with Wilshire Consumer Credit. Learn more by checking out the following reviews:

Objectively, the Wilshire Consumer Credit reviews tell a story about how borrowers can have a positive experience while engaging with WCC to resolve debt. Take, for example, the review of a borrower named Dee:

“I want to thank Miguel and Iris for providing a seamless refi transaction. This is my second loan with Wilshire Consumer Credit. I made a phone call to inquire about a refi since my original loan was almost paid off. Within 5 mins I was provided options and agreeable terms that kept my monthly payment low. The next day I got funds. They work fast and efficiently. Here's a more in depth of my history with Wilshire Consumer Credit. My original loan that I got 3 years ago, I had poor credit it was quite bad. They accepted me and worked with me. I never missed a payment, and I never asked for any extensions. I put my head down and I built my credit back up to a 677. Now, I have a second chance in life and cash for my startup. Thank you and I am greatly appreciative.”

Dee’s review is an indicator that if you proactively engage with WCC’s debt collectors, then you can make progress in resolving your debt collection matter. You may even be able to negotiate an amicable debt settlement.

If the prospect of contacting a debt collector to try and negotiate a settlement sounds awful, then consider using SoloSettle to negotiate online and resolve your debt through our cutting-edge digital settlement platform.

Can Wilshire Consumer Credit sue me if I do not pay?

Yes, WCC can sue you if you fail to pay the debt if they have enough evidence to prove to the court that the debt is yours. If you do not have the money to pay, talk to a WCC representative and agree on a payment plan. Additionally, if you share enough evidence of your inability to pay, they may stop contacting you for a few months or years. However, debt collectors often refrain from filing a lawsuit when debtors prove to be well-informed about their rights under the law.

Sometimes they may not believe that you cannot pay the debt and may sue you for permission to garnish your wages or gain access to your bank account to retrieve their money. Do not panic when you receive a lawsuit from them. SoloSuit can help you handle a lawsuit by providing you with an Answer.

An Answer is a mandatory document you must send after receiving a court Summons and Complaint from WCC. Send the response within 14–30 days from the date you received it, or else WCC may request a default judgment, meaning you automatically lose the case by default. With a default judgment, Wilshire Consumer Credit can garnish your wages, put liens on your property, and use other methods to take your money away. To learn more about responding to a debt lawsuit against Wilshire Consumer Credit, check out this video:

If you wish to settle the case outside the court, you can negotiate with Wilshire Consumer Credit to settle the debt for less without stepping foot in a courtroom. There is absolutely no need to go to court if the debt is familiar to you and there is enough evidence against you. WCC may win the case, and you may pay more than the debt you owe.

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