New York Consumer Law Blog

Wednesday, November 28, 2018

A New Kind of Lender Secretly Tracks Your Car to Make Sure You Pay Up

Debt collection on steroids.  Now in China.  Where next?
So-called auto-backed lenders—which charge annualized interest rates as high as 36%—install tracking devices in cars by hiding them inside bumpers, under seats or behind mirrors to prevent them from being removed by borrowers. When people fail to repay their debts, collectors act quickly to repossess cars, sometimes in the middle of the night, according to people on both sides of the transactions. 

 

https://www.wsj.com/articles/a-new-kind-of-lender-secretly-tracks-your-car-to-make-sure-you-pay-up-1543314603 


Archived Posts

2019
August
July
June
May
April
March
February
January
2018
December
November
October
September
August
July
June
May
April
March
February
January
2017
December
November
October
September
August
July
June
May
April
March
February
January
2016


Contact us online to get started today



© 2019 Law Office of Adam G. Singer, PLLC | Disclaimer | Attorney Advertising
60 E. 42nd St., Suite 4600, New York, NY 10165
| Phone: 212.842.2428
75 Montebello Road, Suffern, NY 10901
| Phone: 212.842.2428
445 Hamilton Ave., Suite 1102, White Plains, NY 10601
| Phone: 212.842.2428

About | Practice Areas | FAQ | Consult Request

Law Firm Website Design by
Amicus Creative