BBB Business Review

BBB Accredited Business since 10/29/2007

Finance & Thrift Company

Find a Location

(559) 781-9560View Additional Phone Numbers268 N Main St, PortervilleCA 93257-3728

BBB Business Reviews may not be reproduced for sales or promotional purposes.

BBB Accreditation

A BBB Accredited Business since 10/29/2007

BBB has determined that Finance & Thrift Company meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised Finance & Thrift Company's rating include:

  • Length of time business has been operating.
  • Complaint volume filed with BBB for business of this size.
  • Response to 19 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.

Customer Complaints SummaryRead complaint details

19 complaints closed with BBB in last 3 years | 6 closed in last 12 months
Complaint TypeTotal Closed Complaints
Billing / Collection Issues13
Problems with Product / Service6
Advertising / Sales Issues0
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints 19

Customer Reviews Summary Read customer reviews

0 Customer Reviews Customer Reviews on Finance & Thrift Company

Customer Experience Total Customer Reviews
Positive Experience
Neutral Experience
Negative Experience
Total Customer Reviews 0 Customer Reviews

Complaint Breakdown by ResolutionAbout Complaint Details

Complaint Resolution Log (19)
08/18/2015Problems with Product / Service | Read Complaint Details

Installing a payment reminder device
The truck was in perfect condition once they installed the device it messed up the truck staying engine power reduced, service traction controll, service stabilitrak, the device is installed to not allow a vehicle to turn on, the messed with the electrical system, we were told to pick up the truck when completed, and it was completely disabled.

Desired Settlement
Pay the towing yard, and to return my truck exactly the way it was before they messed with the computer .

Business Response
Hello, Our Company had the customer vehicle inspected by a License Chevrolet Dealership. The vehicle inspection report states that mechanical issues were found but they have nothing to due with payment reminder device installation or vehicle repossession. The vehicle inspection report findings were relayed to customer and she clearly understood that her issues had nothing to due with repossession. Customer paid account current and vehicle was returned to her in a timely manner.

Consumer Response
(The consumer indicated he/she ACCEPTED the response from the business.)
Over with closed

04/09/2015Billing / Collection Issues
05/09/2013Problems with Product / Service
05/13/2015Billing / Collection Issues | Read Complaint Details

Employees putting false information on my credit report. Employees accepting than not accepting a pay off amount for my vehicle.
On February 11, 2015 my vehicle was damaged it was declared a total loss on February 13, 2015. On February 13, 2015 my insurance company had spoke with an employee from finance in three with who said that they would accept a $4921.37 payment for my vehicle. My insurance agent did mail out a check February 13, 2015 to Finance & Thrift. As of February 27, 2015 I had received numerous calls from finance and thrift in regards to a payment for my car. I'm several occasions finance and thrift claim that they had not received a check from my insurance company. On Friday, February 27, 2015 I did contact my insurance company which is progressive insurance and I did speak to an agent and I had explained everything that was going on to the agent. The agent from progressive then placed a call to finance and thrift and called me back and told me that financing through it had finally signed off on the check that progressive had mailed to them and that I shouldn't have any worries. I then spoke to finance and thrift today who claim that my original claims rep on Friday hit told him that she would not pay out a check to progressive for the remaining balance of my car. I am hearing several different stories from a couple different employees of finance and thrift. I feel as if finance in thrift is trying to ruin my credit & I have late payments as of 37 days showing up on my credit report and it is very hard for me to acquire another vehicle at this point and I do have an autistic two year old who I do have to get back-and-forth to his therapy.

Desired Settlement
I am seeking a settlement of finance and thrift to take the derogatory credit reporting off of my credit report because in reality they were paid off February 13, 2015 when they had agreed to the number with my claims representative from progressive. I am seeking that they take it off immediately.

Business Response
March 19, 2015

In response to ******* **** complaint:
Progressive insurance call us for a 20 day payoff, they provided us with the account number and they were given a verbal payoff for the account requested. When we received a letter of guarantee from Progressive we notice the security was different. ******* had more than one account. We called Progressive and ******* to inform them of the account number and vehicle description discrepancy. Progressive at that time advised us that the claim was paid and closed. ******* informed us that she had already cashed her portion of settlement. We proceeded to call Progressive since we had not cashed the check payable to Finance and Thrift. They stated that there was nothing more they could do.
Since then, we have spoken with ******* who is in agreement to have the funds from Progressive applied to her account without derogatory reporting. She has been notified that the remaining balance is her responsibility until account is paid in full.

Consumer Response
(The consumer indicated he/she DID NOT accept the response from the business.)
I reject their response because my claim rep from progressive never requested an account number from me in regards to my claim so therefore my claims rep never once had my account number for my BMW. My loan for my BMW is strictly in my name & as for the other account I am not the primary buyer I am only a co-signer, so therefore I'm secondary. My BMW was the only vehicle on my policy. My claims rep had strictly stated that she had needed the pay off for the BMW X5 not the other vehicle. My insurance claim was started on February 11,2015 and was closed out by February 13, 2015. For a couple of weeks after the claim was closed with insurance finance and thrift would call me at least twice a week demanding a payment. I had told each person whom called me that my vehicle should have been paid off through insurance and I didn't understand why they were calling me and harassing me for a payment. No one who had called ever mentions the fact that The wrong vehicle was paid off they only demanded a payment for my vehicle. I had even called my insurance Company to let them know that finance and thrift were calling me and demanding a payment for a vehicle that should have been paid off. A representative from my insurance company had called finance & thrift & had asked what the issue was & The person that the Insurance rep had spoken to had told the rep that they would accept the check & sign off, the rep had called me back & had informed me that finance & thrift had agreed to sign off & that they shouldn't be harassing me for payment anymore, that was Friday. The following Monday a supervisor decided to explain to me that the wrong vehicle was paid off (as mentioned in my earlier complaint & I had added this portion of this issue after I had found out) and that is why I was receiving phone calls from different reps from finance and thrift demanding a payment. Again I would like to mention the fact that my insurance rep had clarified which vehicle that she was asking a payout for and had also given finance and thrift the vehicle information. Finance and thrift are not being honest in regards to this issue. I had spoke to a supervisor at the corporate office and had explained to him that it was not my fault that their office had quoted the wrong vehicle payoff and I had also stated that I had felt like this was intentionally done. I had explained to the supervisor that my insurance claims rep called and had identified me as well as the make and model of my vehicle and that I had felt like this was done intentionally on their behalf. The only response that the supervisor had gave me was Malika it's still your loan and you are responsible for the balance. My insurance claims rep identified herself who she was calling on behalf of and the vehicle which was involved and requested a payoff and all of this was done very professionally. So the statement from finance and thrift is very inaccurate and they are reporting my loan as late as well as sending me letters demanding payment.

Final Business Response
case #XXXXXXXX - Customers insurance company has refused to issue additional funds to clear the account balance. The customer has been issued a letter indicating that remaining balance will be her responsibility. The only derogatory reporting will be if missed payments accrued. As of today's date the account current with one missed payment in January of 2015.

Final Consumer Response
For me to keep on stating the same thing over and over is pointless. I stand by my original complaint and I refuse to keep on going back and forth with Finance and Thrift. In regards to this incident as I had stated before Finance and Thrift are not being honest and are still reporting negative on my credit report.

04/27/2015Problems with Product / Service | Read Complaint Details

Car was paid off prior to payment being due. Still charged interest.
I sent my payment of $200 early on 2/17/2015 which was due 2/26/15. I purchased a new car 2 days later and a 15 day payoff quoted was $4262.21 which the dealership assured me was paid within 10 days. Today I called Finance and Thrift to ask about my refund of $200. They told me they had already sent me a check for $139.20. I told them I had not received a check. I asked them why they charged me the interest even though the car was paid off before the due date. They admitted the car was paid off on 2/26/15 and that they were not going to refund me the interest. They informed me that they would investigate the "lost" check. I asked to speak to a supervisor and was told they would call me back later. I asked them what the payoff amount sent by the dealership. They told me 4251.92 which is another discrepancy of $10.

Desired Settlement
I want my full payment I sent to them refunded ASAP. This company has already made several thousand in high interest and penalties off me during a time of financial hardship in my life. Not refunding my money and then saying they were taking the interest anyways is wrong.

Business Response
I have researched customer dispute. Our records indicate that on February 19, 2015 at 10:55am a $200.00 check payment was received by mail and credited to customers open account. On February 19, 2015 at 12:39pm Winn Hyundai of Santa Maria called for a 10-day payoff and was quoted $4,262.12, which was later received on February 26, 2015 to close account. Customer had an over payment of $10.20. As for customers claim regarding a refund check for $139.20 issued on October 31, 2014. Our records indicate that funds were cashed by customer and cleared our bank on November 7, 2014. Funds have been applied and dispersed without discrepancy.

10/22/2014Billing / Collection Issues | Read Complaint Details

they have failed to take the collateral and use it to pay debt off
i help my inlaw get a cash loan to fix his car and he put up his other car as collateral well since then he stopped paying and instead of F.N T going and repossising the collateral for payment they just keep letting this debt get bigger than what i ever received. In fact someone even gave him his title back to him.

Desired Settlement
i want my debt to be credited the amount of the worth of the car that was put up as collateral at the least.

Business Response
I have reviewed your complaint and found that your account charged off on May 31, 2007 for non-payment on account. The account has been flagged Out for Repossession since August of 2012 and our agent has attempted many times to locate 1994 Cadillac but location of vehicle is undisclosed. Also in regards to vehicle in question, I hold a State of California Title #XXXXXXXXXXX. In reviewing of your account further it is clear that the total amount of this debt is owed to Finance and Thrift Company.

Consumer Response
(The consumer indicated he/she DID *** accept the response from the business.)
first of all i am not trying to get out of owing F&T although i do feel that i should not owe so much or would i still owe had they went about things differently. I am not satisfied with the way things have been handled because 1. F&T say they charged off my account in 2007 for non payment. BUT then they go on to say that not until 2012 did they bother to put out a repossession order on the 1994 cadillac! And the ONLY reason they put it out for repossession in 2012 w3as because i went to the F&T local office to find out how i could resolve this debt and i brought it to their attintion that if i owed still why is it that they had not repod that car? So no i dont accept their answer because i feel if they had bothered to take the time to put out the repossession order in 2007 then they would have been able to recover that car. And it would have prevented the owner of the car to ever tag it or anything else with it.

10/02/2014Problems with Product / Service | Read Complaint Details

Proof that I did not give false information on my contract, but FNT still repossessed vehicle.
Vehicle was repossessed without any notice due to being 30 days late on the loan numerous times over the course of the loan. I take full responsibility of that, I am aware a vehicle in California can be repossessed if one day late on the contract without warning. However, my complaint comes when I tried to reinstate my loan. They stated that I provided false information on the contract because I was letting a third party drive the vehicle and I would have to payoff the entire loan. I was already in a financial hardship and there was no way I could payoff the loan. Fast forward to when I was able to get a hold of my contract, my contract had no limitations on who could drive the vehicle. When I called FNT, they said "well you should have had your contract available.". I wrote a letter to FNT, and did receive a response that they would release me from owing the difference between the amount I owed and the auction price. However, I felt because they "breached" their part of the contract by only making me payoff vehicle and not just past due, (since I did not lie on contract), I felt I was due at least my down payment back, but also felt I should get any monies I paid into vehicle. They said they did not breach contract, that only I did. However, according to California Repossession law, I am entitled to getting my car back by paying only the past due and any repo fees unless I lied on contract, which I proved I did not.

Desired Settlement
I want my deposit of $2,000 back, plus the payments that I did make, since I was out a vehicle. The date of my contract was July 10, 2010.

Business Response
The Consumer initially brought this issue to our attention in March, 2012 and we thoroughly researched it at the time. Based on our review, we determined that F&T's repossession and sale of the vehicle complied with the applicable repossession laws. However, in consideration for our customer's situation, F&T agreed not to pursue any deficiency balance. After reviewing the file again in response to the Consumer's complaint, it is clear that F&T did nothing improper and its actions were reasonable and in good faith. In addition, F&T has also abided by its promise not to pursue the deficiency balance.

Consumer Response
(The consumer indicated he/she DID NOT accept the response from the business.)
I still feel that F&T did not abide by their agreement, due to the fact they did not give me the option to reinstate my loan unless I paid balance in full. I should have been given this opportunity since the contract did not specify who could drive the vehicle.

Final Consumer Response
(The consumer indicated he/she DID NOT accept the response from the business.)
They did not give any new information.

Final Business Response
The Consumer initially brought this issue to our attention in March, 2012 and we thoroughly researched it at the time. Based on our review, we determined that F&T's repossession and sale of the vehicle complied with the applicable repossession laws. However, in consideration for our customer's situation, F&T agreed not to pursue any deficiency balance. After reviewing the file again in response to the Consumer's complaint, it is clear that F&T did nothing improper and its actions were reasonable and in good faith. In addition, F&T has also abided by its promise not to pursue the deficiency balance.

03/10/2014Billing / Collection Issues | Read Complaint Details

Finance & Thrift is currently reporting my account as derogatory to Credit Agency.
Last year Finance & Thrift reported my account as derogatory to the reporting agencies. I submitted a complaint to BBB and soon thereafter received a letter from their VP of Operations, Ms. ***** ***** At that time we forwarded the information to the reporting agencies stating that my account had never been late. Recently, I applied for a home loan mortgage and Equifax is still showing my account derogatory. Once again, I submitted an online dispute to Equifax and also forwarded the letter I had received from ***** **** to Equifax. At that time, my wife also sent an email to Ms. **** requesting that she have her personnel in her office resubmit the correct information to Equifax. Well on 1/29/14 I received the results of my online dispute and Finance and Thrift has not corrected their reporting... NOR have I received a response from Ms. *****

Desired Settlement
I am requesting that they correctly report the information to Equifax immediately.

Business Response

Dear Mr. *****
We received an inquiry from you regarding certain information on your credit bureau report. As required by law, we have reviewed our account records. We verified that we have reported the most current and accurate information to Equifax, which is our primary credit reporting bureau.
I have attached supporting documents to your claim.
Please be aware that it can take up to 90 days for the changes to reflect on your Equifax credit bureau report.
Thank you for choosing Finance and Thrift.
******* *********

Page 1 of 4

Industry Comparison| Chart

Consumer Finance & Loan Companies, Loans, Banks

Additional Information

BBB file opened: 02/21/2003Business started: 07/09/1925
Licensing, Bonding or Registration

This company is in an industry that may require licensing, bonding or registration in order to lawfully do business. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Financial Industry Regulatory Authority
1735 K St NW
Washington, DC 20006-1506
(301) 590-6500

BBB records show a license number of 1808 for this company, issued by Financial Industry Regulatory Authority. Their web address is

Type: Financial Institutions

Check License Status: Click here to view license info

Please note that governmental licensing information may not be current.

Type of Entity


Incorporated: July 1925, CA

Business Management
Customer Contact: Bethany Ambrosini (Operations Clerk)
Contact Information
Principal: Mr. Bob Hughes (President/CEO) Diane M Gregg (VP/COO) Rafaela Lockridge (File Supervisor)
Business Category

Consumer Finance & Loan Companies, Loans, Banks

Alternate Business Names
Finance and Thrift
BBB Program Participation
This company has agreed to use special procedures including mediation and arbitration, if necessary, to resolve disputes.

Map & Directions

Map & Directions

Address for Finance & Thrift Company

268 N Main St

Porterville, CA 93257-3728

To | From


5 Locations

  • 3401 Pacheco Rd Ste A 

    Bakersfield, CA 93313-3107(661) 323-2707

  • 170 W Shaw Ave 

    Fresno, CA 93704-2817(559) 271-4733

  • 268 N Main St 

    Porterville, CA 93257-3728

  • PO Box 2900 

    Porterville, CA 93258-2900(559) 781-9560

  • 649 S County Center Dr Ste C 

    Visalia, CA 93277-1906

Industry Comparison ChartX

The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in Central California. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.

*Finance & Thrift Company is in this range.


Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

  • Advertising or Sales
  • Billing or Collection
  • Problems with Products or Services
  • Delivery
  • Guarantee or Warranty

We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.


Additional Phone Numbers

  • (209) 667-9226
  • (559) 734-5866
  • (559) 784-1780

BBB Complaint Process

Your complaint will be forwarded to the company within two business days. The company will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the company's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.


BBB began including complaint response text in BBB Business Reviews on April 25, 2013.

BBB reports the complaint response text for all reportable complaints against a business that are received electronically.


Industry Tips for Consumer Finance & Loan Companies


What is BBB Advertising Review?

BBB promotes truth in advertising by contacting advertisers whose claims conflict with the BBB Code of Advertising. These claims come to our attention from our internal review of advertising, consumer complaints and competitor challenges. BBB asks advertisers to prove their claims, change ads to make offers more clear to consumers, and remove misleading or deceptive statements.


What government actions does BBB report on?

BBB reports on known government actions that are relevant to the business's marketplace dealings with the public.


About BBB Business Review Content and Services

Some Better Business Bureaus offer additional content and services in BBB Business Reviews. The additional content and services are typically regional in nature or, in some cases, a new product or service that is being tested prior to a more general release. Not all enhanced content and services are available at all Better Business Bureaus.


Thank you for your feedback.

Help us improve by taking our survey.


BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

As a matter of policy, BBB does not endorse any product, service or business.

BBB Business Reviews are provided solely to assist you in exercising your own best judgment. Information in this BBB Business Review is believed reliable but not guaranteed as to accuracy.

BBB Business Reviews generally cover a three-year reporting period. BBB Business Reviews are subject to change at any time.


What is a BBB Business Review?

We offer free reviews on businesses that include background, licensing, consumer experience and other information such as governmental actions that is known to BBB. These reviews are provided for businesses that are BBB accredited and also for businesses that are not BBB accredited.


BBB Reporting Policy

As a matter of policy, BBB does not endorse any product, service or business.

BBB Business Reviews are provided solely to assist you in exercising your own best judgment. Information in this BBB Business Review is believed reliable but not guaranteed as to accuracy.

BBB Business Reviews generally cover a three-year reporting period. BBB Business Reviews are subject to change at any time.