New York Times Article on Subprime Car Loans
The New York Times ran a story today about the subprime car loan industry. Mainly, the problems that arise from repossessing the car and then suing on the deficiency balance. As some point out, a more equitable approach would only allow lenders the choice of repossession or suing on the balance.
Do Lemon Laws Cover New and Used Automobiles?
Alabama’s lemon law only covers new but defective automobiles. However, there are also several related laws that cover defective used automobiles. The best coverage is to buy a warranty on a used car. A warranty opens many options and make the road to compensation much easier. However, even if a car is purchased “as is,”...Read More
Where to Dispute Credit Report Errors
If you discover inaccurate information on your credit report, it is important to dispute with the correct entity. Under the Fair Credit Reporting Act (“FCRA”), disputes of inaccurate information must be sent to the Credit Reporting Agency (“CRA”). These companies are Equifax, Experian, and TransUnion. All three companies can take disputes online and via mail....Read More
Medical Debt Credit Reporting Errors
Medical debt is one of the leading causes of financial stress and bankruptcy in the US. Many times multiple medical providers error in charging the wrong amount or reporting multiple debts for the original account. In these cases, it may be beneficial to dispute these entries and have them removed. Doing such can clear up...Read More
The Henson v. Santander Consumer USA, Inc. Affect on Debt Buyer Cases
The Supreme Court recently held Santander may collect debts that it purchased for its own account without triggering the statutory definition of a “debt collector” under the Fair Debt Collection Practices Act. While this ruling has a significant impact on claims against companies like Santander, other debt buyers that typically sue consumers should remain liable...Read More