Christmas is on! Credit Union Absorbs Loss Returns Repo’d Truck to NV Family

Stateline, NV – December 13, 2011 – Despite having the legal right to keep the fought over truck in Monday’s story, Mountain America Credit Union of Utah has returned the truck and agreed to absorb the loss rather than see the Dean family suffer a $35K loss over the holidays.

The fight over a repossessed pick-up truck is finished between a couple from Stateline, Nevada and Mountain America Credit Union. The family paid for it, but never legally owned it, until now. The Dean family got the truck back.

“Christmas is back on, basically,” said Dorothy Dean.

Dean says she paid $35,000 to the now defunct Allison Automotive Group in Reno, Nevada, not knowing the dealer owed money to Mountain America Credit Union. The Deans never had any type of loan through MACU, or any other bank or credit union since they paid the dealer up front in full.

But, the family could have lost their money to Allison Automotive since the dealer wasn’t allowed to sell the truck. “It would have been a terrible financial burden, first off,” Dean said. “Secondly, it was just horrible [to deal with].”

Since MACU had legal claim to the truck, giving it to the Deans will come at a significant cost to them. They can try to recover the money owed to them by Allison Automotive, but, getting money from a bankrupt company will be extremely difficult.

However, MACU Chief Operation Officer Nathan Anderson says the Deans were taken advantage of by Allison Automotive, just like the credit union was.

“Once we’ve had a chance to investigate and look at things, we’ll do what we can to take the high road and help those individuals out,” Anderson said.

Story and all images courtesy of KSL.com, Utah, written by Paul Nelson

http://www.ksl.com/?nid=148&sid=18474109&autostart=y

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