Westlake Financial Services has reassigned Nicholas Heredia’s vehicle loan account to the dealership and is no longer responsible for it. The only document Westlake can provide is the reassignment letter. Nicholas Heredia must contact the dealership for

In this situation, Nicholas Heredia faces challenges related to the reassignment of his vehicle loan account from Westlake Financial Services to the dealership. Below are key points to consider regarding this matter: 1. **Reassignment of Account**: Westlake Financial Services has confirmed the reassignment of Heredia's account to the dealership, meaning that they are no longer the servicer of the loan, and any concerns or requests must be directed to the dealership. 2. **Legal Claims**: Heredia disputes the reassignment's legality, alleging violations of the Fair Credit Reporting Act (FCRA) and the Truth in Lending Act (TILA). The determination of whether these claims hold merit would typically require a review of legal documents, the terms of the original loan agreement, and the applicable laws. 3. **Contractual Obligations**: Heredia believes that his contract does not specify that a payment from a third party would alter the ownership of the lien. This point may require further exploration, including a review of the contract's specific terms and conditions. 4. **Lien Release Policy**: Westlake Financial Services has confirmed their policy that lien releases are only issued to parties who have paid off the account directly. Since the dealership repaid the loan, Westlake considers them the appropriate party for any lien-related documentation. 5. **Loan Payoff and Documentation Requests**: Heredia has requested proof of payment and an account balance statement from Westlake. However, Westlake has reiterated that they cannot provide any documentation beyond the reassignment letter, as they do not service the account anymore, and all inquiries must be directed to the dealership. 6. **Threat of Legal Action**: Heredia's threats of legal action and reporting to consumer protection agencies may be a response to perceived unfair treatment or lack of communication regarding his loan. He may wish to clearly outline the specifics of his claims if he decides to proceed with such actions. 7. **Advice for Heredia**: Given the circumstances, it would be prudent for Heredia to: - Contact the dealership directly to clarify the status of his loan and any implications of their repayment. - Review any documentation he received at the time of the loan origination. - Consider consulting with a legal professional to understand his rights regarding the reassignment and any obligations imposed by his contract. In summary, Nicholas Heredia is advised to direct further inquiries regarding his loan to the dealership, as Westlake Financial Services no longer has responsibility for his account. Understanding his contractual obligations and potential legal rights may provide him with a clearer path forward in addressing his concerns.