The Federal Trade Commission has taken action for the first time against two car title lenders, reaching settlements that will require them to stop their use of deceptive advertising to market title loans. A car title loan is typically a high cost, short-term loan, secured with the consumer’s car title. In administrative complaints issued against two title lenders, First American ... Read More »
Here is a new paper out that may be of interest to all who want to know more about rent-to-own, payday lending and the title loan business. David Papke from the Marquette University Law School is to be commended for this paper. “This article scrutinizes the rent-to-own, payday lending, and title pawn businesses – all of which target and exploit ... Read More »
In-house financing car dealerships provide car loan options to customers and facilitate the purchase of a vehicle. There are a number of things you should watch out for and understand before signing loan agreements at a dealership. Advantages of In-House Financing The primary advantages of in-house financing with an auto dealership directly apply to people whom outside lenders may consider ... Read More »
Buying a car is a very expensive proposition. Besides buying a home – buying a car or truck is typically the second largest asset people purchase. And those car payments can really add up to a budget buster if you are not careful. There is no need to wind up paying more than you have to. When going to buy ... Read More »
New forecasts are out that indicate cars will be the product to buy in 2013. Along with the amount estimated that consumers will borrow in car loans and the estimated very low default rates, my bet is that new car financing will be much easier to get in 2013. TransUnion released its annual national auto loan delinquency forecast today indicating ... Read More »
A tipster (send in your tips here) just sent in the mailer below and it’s a good opportunity to remind readers not to be fooled by extended warranty offers. Below you will see a post card that is being sent to consumers that could be easily misinterpreted as a mailer from the vehicle manufacturer. It looks very official and has ... Read More »
Dear Dollar Stretcher, I’d like to get a good used car without going in the poor house! We have 3 school-aged children. Our old Ford pickup doesn’t have room for them. I wanted to spend $5,000 or less and don’t want car payments. Do you have any ides where to look besides the newspaper? Kevin S. Buying a good used ... Read More »
In an effort to protect West Virginians from the abusive and unlawful harassment and triple-digit interest rates of a predatory out-of-state title loan company, West Virginia Attorney General Darrell McGraw today filed suit in the Circuit Court of Jefferson County against Virginia-based Fast Auto Loans, Inc., its parent company, Community Loans of America, headquartered in Atlanta, and its owner Robert ... Read More »
The following article was submitted by Attorney Steven Elmer from 722Redemption.com to help people learn how it may be possible to keep their car or truck after bankruptcy for far less than the current amount owed. In Chapter 7 bankruptcy, debtors have three main options regarding financed personal property items. They can surrender, reaffirm, or redeem the item. When choosing ... Read More »
The Federal Trade Commission filed charges and requested that a U.S. district court put a stop to the allegedly deceptive tactics of two California-based auto loan modification operations. The FTC asserted that the two separate operations charged hundreds of dollars in up-front fees, based on bogus promises that they could reduce consumers’ monthly car loan payments and help avoid repossession ... Read More »
Attorney General Chris Koster yesterday announced a St. Charles County grand jury has handed down a 14-count indictment against Darain Atkinson and a 13-count indictment against Cory Atkinson, the brothers who owned and operated US Fidelis. US Fidelis was formerly known as National Auto Warranty Services and did business under the name “Dealer Services.” The indictments include felony charges of ... Read More »
Apparently times are tougher for Libya right now than you might think. The Libyan embassy in Kampala, Uganda has had two of their luxury cars repossessed by the bank and they are scheduled for sale on May 10. The Libyan Arab People Bureau (embassy) is identified in the notice as the debtor. The attached cars were used by Mr Abdallah ... Read More »
Missouri Attorney General Chris Koster recently released a report from his Auto Service Contract Task Force. The group was looking at the deceptive practices of members of the auto service contract and auto warranty business. As part of the data gathering the task force heard from consumers. Donna Acosta Donna Acosta purchased her contract from US Fidelis, Inc., formerly known ... Read More »
A few hours ago someone came in to the site and posted a comment about autopaymentassistance.com so I thought I’d look into what the site was offering. The website says the program will “help you out” if you are ever able to make your payments. AutoPaymentCenter.com is owned by: Variety Investment Corporation Herbert Hamlet 214 NE Ponce De Leon Avenue ... Read More »
Debt doesn’t just affect the people actually in debt, it often affects the ones around them, near and dear to them. I know this from first hand experience as someone who has loved and lived with someone so deep in debt they could not see a way out. Not only is the emotional toll hard on the debtor but also ... Read More »
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