Fort Mill, SC – 30 August 2018 – Some dealers work by having customers pay the dealer, then, the dealer pays a finance company. But what happens when the dealer doesn’t pay the lender? A finance company, Strategic Dealer Services, is suing McCoy Motors in Fort Mill for fraud and breach of contract for $1.8 million over “false documentation” and failing to make “timely payments” on the borrowers behalf to the finance company.
Read More!
More Stories
Auto Lending Accelerates as Borrower Credit Quality Slips
After the Repo: When Does a Credit Union Finally Admit the Loss?
Auto Lending Is Moving Down the Credit Risk Ladder – Collections and Repo May Follow
Holmes Motors to Pay $137,000 Over Alleged Violations of Servicemembers’ Vehicle Lease Rights
Credit Unions Can Now Share More Fraud Intelligence Than Ever Before
Feds Charge 83-Year-Old Woman in Alleged $10 Million Auto Lending Ponzi Scheme