Delinquent Loans

Watertown, NY: (Jan-24-08) Attorney General Andrew Cuomo's office filed charges against DealMaker Auto Group, alleging that the Watertown dealership participated in delinquent loan repayments on vehicles it took as trade-ins. The suit claimed that the company systematically delayed paying off vehicles accepted in trade for new cars throughout 2007, affecting more than 150 consumers in northern and central New York. A settlement has been reached in which DealMaker Auto Group has agreed to pay more than $2 million to resolve allegations. Spokespersons from the AG's office stated that apart from the restitution, DealMaker will have to repair the credit reports of consumers who were affected and will be subject to independent oversight for two years. [WCAX NEWS: DELINQUENT LOANS]

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Published on Jan-25-08