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Have you been a victim of subprime lending in the auto industry? Well guess what, you might be able to recoup some funds due to damages! Credit Acceptance Corporation (CAC) was recently sued by the Consumer Financial Protection Bureau (CFPB) and the People of the State of New York (New York’s Attorney General James) for deceiving consumers into inflated interest payments through their auto loans based on their malpractices and arrangements with used car dealers. In today’s episode on the Debt Demolisher TV, you’re going to learn the following:

▶︎ Why CFPB is suing Credit Acceptance – @0:42
▶︎ Why the used car dealers are scammy – @5:10
▶︎ Lawsuit Allegations against Credit Acceptance Corp – @6:17
▶︎ How can CFPB sue subprime lenders – @10:17
▶︎ Complaint filed against Credit Acceptance Corp – @11:14
▶︎ Bad credit loans guaranteed approval lenders – @13:51
▶︎ How to decide when to buy a car – @14:11
▶︎ Definition of Usury – @16:35
▶︎ Steps to do before buying or financing a car – @18:00

SOURCES:
CFPB Breaking News: https://www.consumerfinance.gov/about-us/newsroom/cfpb-and-new-york-attorney-general-sue-credit-acceptance-for-hiding-auto-loan-costs-setting-borrowers-up-to-fail/

📍 SUGGESTED LINKS 📍
CFPB & New York State Attorney General Complaint Filed 01/04/2023: https://files.consumerfinance.gov/f/documents/cfpb_credit-acceptance-corporation_complaint_2023-01.pdf
Market Watch article: https://www.marketwatch.com/story/credit-acceptance-shares-tumble-10-after-regulators-sue-claim-illegal-subprime-auto-lending-practices-11672861347
📍 Credit Improvement Class – How to improve your credit score: https://www.sophiamelone.com/products/800-fico
Kelley Blue Book: https://www.kbb.com/

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Jingle/Intro/Outro Track: The Debt Demolisher®️ TV Theme Song (DDTV Jingle)
Artist: Sophia Melonē®️
Executive Produced by Sophia Melonē®️ {February 2021}

© 2023 Sophia Melone. All Rights Reserved.

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🚨 DISCLAIMER: The content shared on this channel is NOT professional medical, financial, legal, accounting, tax or investment advice. Please consult with a licensed professional for proper therapeutic treatment and/or financial advice. This content is shared from personal truths.

We do not make any guarantee or other promise as to any results that may be obtained by using this content. To the maximum extent permitted by law, Sophia Melone/The Debt Demolisher TV disclaims any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable, or result in any investment or other losses.