Who Is Monterey Financial Services? Why Are They Calling Me?

Monterey Financial Services is a California-based company that purchases and services consumer payment plans — often for products like timeshares, dental work, or home services — sold to consumers as financing agreements. If Monterey is contacting you about a payment plan you signed, read the underlying contract carefully before paying anything further; regulators have found that some of these agreements were structured as leases rather than the financing consumers thought they were buying.

Has Monterey Financial Services been the subject of regulatory action?

Yes. In December 2025, New York Attorney General Letitia James announced a settlement requiring Monterey to provide roughly $2.4 million in debt relief to about 835 New York consumers and pay a $175,000 penalty. The investigation found Monterey knowingly serviced agreements that were misleadingly presented as standard consumer financing when they were actually leases carrying undisclosed fees, with some consumers paying more than 200% of a product’s sticker price by the end of the term. As part of the settlement, Monterey had to cancel all outstanding New York leases and stop collecting on them. Monterey has also entered separate consent orders with state regulators in Massachusetts and Connecticut over its debt-collection licensing and practices. If you signed what you believed was a financing agreement with Monterey and the total cost seems far higher than the item’s price, send a written validation request and review the contract for lease language before making another payment.