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By: Samuel J. Turco Jr.

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What’s the true price of that car? A story of Chapter 13 & Subprime Lending

By Sam Turco on September 14, 2021
Posted in Chapter 13, Fraud, Usury

The Massachusetts Attorney General recently settled a major consumer fraud case against subprime auto lender Credit Acceptance Corporation.

The case is long and complicated, but the issue that caught my eye is the argument about the true purchase price of a vehicle.

For example, assume a dealer sells a vehicle for $10,000 and the buyer…

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Samuel Turco is a native Nebraskan whose wealth of knowledge and experience in bankruptcy law, along with a rich understanding of the issues faced by those in all corners of the state, has been instrumental in building a bankruptcy law practice adept in always seeing things from the client’s perspective.

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