In addition, no representations or warranties are made with respect to the usability of any directions or conditions of any routes utilized. 2:22-CV-02197 | 2022-12-29, U.S. District Courts | Finance | Then on Monday, Massachusetts attorney general Maura Healey filed a lawsuit against the finance company that specializes in the subprime market. Finance. Then try to tell you that you owe them more money even though you dont. 2023Exeter Finance LLC. Exeter to settle 'unfair loans' for $6 million. The settlement also requires the company to make changes to its loan handling practices. A more recent docket listing may be available from PACER . Download PDF. More than 3,000 borrowers in Massachusetts could be eligible to receive money under a $27.2 million settlement Attorney General Maura Healey announced Wednesday with Credit Acceptance Corp to resolve allegations that the subprime auto lender engaged in predatory loan practices that ruined the credit of many consumers. 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United States District Court Middle District of Florida Tampa Division The office ofMassachusetts Attorney General Maura Healeysaid Monday that Exeter facilitated auto loan originations that it knew or should have known were unfair and in violation of the state Consumer Protection Law, while the office ofDelaware Attorney General Kathleen Jenningssaid the lender knew or should have known that the loans violated state laws. God bless yall. Last year, Exeter Finance paid more than $5.5 million for its role in financing unfair, subprime auto loans. 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The AGs Office worked collaboratively with the Delaware Attorney Generals Office on this investigation. 3:21-CV-00494 | 2021-04-01, U.S. District Courts | Civil Right | Rivera v. Exeter Finance Corp., No. 20-1031 (10th Cir. 2020) The complaint, filed in Suffolk Superior Court, alleges that since 2013, CAC failed to inform investors that the company topped off the pools of loans that they packaged and securitized with higher-risk loans, despite claiming otherwise in disclosures to investors. Car Wars: Is a Rise in Service Leading to Poor Customer Satisfaction? All of this was set out in the contract, to which Murphy agreed by affixing his signature. Wilson v. Exeter Finance LLC - Justia Dockets & Filings On Wednesday, Credit. (arut) (Entered: 10/07/2021), Docket(#1) COMPLAINT against Exeter Finance LLC, Primeritus Financial Services Inc, John Does I-X (Filing fee $402 receipt number 0420-10110894. (crl, ) (Entered: 06/17/2021), Docket(#2) ATTORNEY Appearance for Plaintiff Dennis J. Henderson by Michael Joseph Plati (Plati, Michael) (Entered: 06/17/2021), Docket(#1) COMPLAINT filed by Dennis J. Henderson; Jury Demand. They have been giving me the run around. Heres what you need to know. This company made unaffordable and illegal loans to borrowers, causing them to fall into thousands of dollars of debt and even lose their vehicles, Healey said in a news release. All rights reserved. (Ellis, Bernie) (Entered: 12/03/2021), Docket(#7) TEXT ORDER granting #6 Motion for Extension of Time. Designated as Magistrate Judge the Honorable Jeffrey Cole. Exeter Finance Hit With $6 Million Payout Subprime auto lender Exeter Finance has agreed to pay more than $6 million in two states for financing auto loans that the lender knew or should have known were unfair. Cases involving consumer credit violations, 371, 480, 1371, 1480, 2371, 2480, 3371, 3480, 4371, 4480, 5371, Truth in Lending Act (TILA) - 15 USC 1601-1667 Credit Acceptance to pay $27.2 million to resolve claims, Claims are it violated Mass. Haig Partners: Dealership consolidation trends, Haig Partners: Dealership valuation trends, Haig Partners: Dealership succession planning, Ally: Navigating the future of automotive retailing, Google: How a century-old brand is transforming the auto industry. 3:2014cv04007 - Document 39 (N.D. Tex. R. Crim. With an interest rate of 20.99 percent, he said he quickly fell behind and then endured constant collection calls and vehicle repossessions until he lost the car in 2019. If you are passionate and hardworking, youll feel right at home at Exeter. Exeter is committed to ensuring the highest standards of customer service in its business when delivering vital auto financing options to consumers, she added. We are taking a close look at this industry and we will not allow companies to profit by violating our laws and exploiting consumers.. If you would like to continue helping us improve Mass.gov, join our user panel to test new features for the site. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, R. Civ. Because the notice of dismissal was filed before the opposing party served either an answer or a motion for summary judgment, the case against Defendant Exeter Finance, LLC is dismissed without prejudice in accordance with the terms of the stipulation and by operation of Rule 41(a)(1)(A)(i) of the Federal Rules of Civil Procedure. Poly-Med, Inc. v. Novus Scientific Pte. The lender has also agreed to change its loan and debt collection practices,Healey said. Phone number: (800) 321-9637. IRVING, Texas, June 28, 2021 /PRNewswire/ -- Exeter Finance LLC, a leading indirect auto finance company, announced today that it has entered into a definitive agreement to . The court concluded that the district court . 2:23-CV-00257 | 2023-02-24, U.S. District Courts | Finance | '$1 billion problem': Organized retail theft is big business in Massachusetts, Your California Privacy Rights / Privacy Policy. Please let us know how we can improve this page. Fair Debt Collection Practices Act (FDCPA) - 15 USC 1692, (#26) ANSWER to Complaint and Affirmative and Other Defenses by Equifax Information Services, LLC(Stanzick, Jasmine) (Entered: 08/30/2021), (#8) MOTION by Defendant Experian Information Solutions, Inc. for extension of time to file answer (Unopposed) (Salvi, Mackenzie) (Entered: 07/14/2021), (#7) NOTIFICATION of Affiliates pursuant to Local Rule 3.2 by Experian Information Solutions, Inc. (Salvi, Mackenzie) (Entered: 07/14/2021), (#6) ATTORNEY Appearance for Defendant Experian Information Solutions, Inc. by Mackenzie Renee Salvi (Salvi, Mackenzie) (Entered: 07/14/2021), (#5) SUMMONS Returned Executed by Dennis J. Henderson as to Exeter Finance, LLC on 6/28/2021, answer due 7/19/2021. Neither it nor its attorney, James Carroll of Skadden, Arps, Slate, Meagher & Flom, responded to requests for comment. was also awesome! (arut) (Entered: 10/07/2021), (#1) COMPLAINT against Exeter Finance LLC, Primeritus Financial Services Inc, John Does I-X (Filing fee $402 receipt number 0420-10110894. Detroit, Michigan In a separate cease and desist agreement in Delaware, Exeter agreed to pay $550,000 to affected customers and $50,000 to the state. I purchased a vehicle using Exeter Finance in 2015, and my loan's maturity date is just around the corner. Please let us know how we can improve this page. This case was filed in U.S. District Courts, South Carolina District Court. We will use this information to improve this page. UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. (Reuters) - Credit Acceptance Corp, one of the largest U.S. subprime auto lenders, has agreed to pay $27.2 million to resolve claims by Massachusetts' attorney general that it misled investors and made high-interest loans to borrowers that it knew they would be unable to repay. A subscription to PACER is required. In Massachusetts, Exeter agreed to pay $4.7 million to harmed borrowers and $825,000 to the state. VS MVCONNECT, LLC, ET AL. Exeter, headquartered in Irving, Texas, is a Delaware limited liability company. This matter involving Credit Acceptance is being handled by Healeys Insurance and Financial Services Division. For more information, visit www.nyc.gov/dca. Some page levels are currently hidden. . Your APR can vary depending on several factors, such as your credit score. Exeter Finance Corp. Binh Hoa Le v. Exeter Finance Corp., No. Super great experience. 227, which outlaws the use of automatic telephone dialing systems to call . Public Records Policy. Mailed notice (ef, ) (Entered: 09/23/2021), (#30) STIPULATION of Dismissal as to defendant Experian Information Solutions, Inc. (Plati, Michael) (Entered: 09/23/2021), (#29) MINUTE entry before the Honorable John F. Kness: Plaintiff has filed a notice of voluntary dismissal #27 explaining that the case has been voluntarily dismissed as against Defendant Exeter Finance, LLC only. Exeter Finance, LLC et al Case Summary On 06/17/2021 Henderson filed a Finance - Consumer Credit lawsuit against Exeter Finance , LLC. The Judge overseeing this case is Timothy M Cain. I hope they go out of business, You cant use multiple cards when trying to pay bill n customer service rude, The rates are too high but I do appreciate them for financing my new vehicle, The truck has many problems with it and we have a service appointment to have all the problems fix, Interest rates are to take advantage of people down on there luck.so if u thinking by helping me out by paying three times what a car is worth, forcing me to pay extra for gap insurance so I don't get fed forever is a favor and u want a superb mark, your nuts. The stipulation is signed by both Plaintiff and Experian. In the Non-Bank Financial Service category. Previously, the AGs Officesecured$22 million from Santander for its role in financing subprime auto loans for Massachusetts residents. All quotes delayed a minimum of 15 minutes. See Nelson v. Napolitano, 657 F.3d 586, 587 (7th Cir. An official website of the Commonwealth of Massachusetts, This page, AG Healey Secures $5.5 Million for Consumers, State in Subprime Auto-loan Settlement, is, for AG Healey Secures $5.5 Million for Consumers, State in Subprime Auto-loan Settlement. When other places did not. 2011) (Rule 41(a)(1)(A) notice of dismissal "is self-executing and effective without further action from the court"). The case status is Pending - Other Pending. Exeter Finance to settle 'unfair loans' for $6 million - Automotive News (crl, ) (Entered: 06/17/2021), (#2) ATTORNEY Appearance for Plaintiff Dennis J. Henderson by Michael Joseph Plati (Plati, Michael) (Entered: 06/17/2021), (#1) COMPLAINT filed by Dennis J. Henderson; Jury Demand. Developed by Dave Branch Designs, Fla. Repo Shooter Appointed To Historical Commission, Subprime Auto Lender American Car Center Closes for Business, TitleMax Responds To CFPBs $15M Spanking. Service due by 1/3/2022. Cases involving consumer credit violations, 371, 480, 1371, 1480, 2371, 2480, 3371, 3480, 4371, 4480, 5371, Truth in Lending Act (TILA) - 15 USC 1601-1667 Last year, Exeter Finance paid more than $5.5 million for its role in financing unfair, subprime auto loans. I. Haig: Buy-Sell Q&A: What is the value of an M&A advisor? 2011) (Rule 41(a)(1)(A) notice of dismissal "is self-executing and effective without further action from the court"). A .mass.gov website belongs to an official government organization in Massachusetts. They tack on bunch of fees. Exeter Finance to be acquired by private equity firm Warburg Pincus In addition to what another reviewer said about how they load all of their fees and interest up front (causing the principal to be essentially untouched for the majority of the . Exeter Finance Announces Investment from Warburg Pincus-Led Investor Group GAP Insurance | Buy from dealer or Insurance company? Both states say the loans violated state law. If you need to contact Exeter, you may call us at our main telephone number (toll free): (800) 321-9637. Progressive Services, Inc. v. Flatline Roofing, LLC et al. The state is seeking relief for Massachusetts borrowers harmed by these alleged practices, as well as civil penalties and injunctive relief. We are taking a close look at this industry and we will not allow companies to profit by violating our laws and exploiting consumers.. It goes against our guidelines to offer incentives for reviews. IRVING, Texas - June 28, 2021 - Exeter Finance LLC, a leading indirect auto finance company, announced today that it has entered into a definitive agreement to be acquired by an investor group led by Warburg Pincus from funds managed by Blackstone (NYSE:BX). Allstate: Compliance standards are changing. She said many of the consumers hurt by those lending practices livein cities including Springfield, Boston, Worcester and Brockton. ), filed by Jennifer Bradley. But Healey said to do so, the company made false and misleading statements about the quality of the loans included in the securities. Why is this public record being published online? Healey, in a video conference call with three consumers who bought cars with loans through Credit Assistance, described a company that lent money to consumers at interest rates that met or exceeded the state's cap of 21 percent, and then engaged in unlawful collection practices. Today, the Delaware Attorney Generals Office has also entered into a settlement with Exeter. Public Records Policy. New Jerseys attorney general also sent its own subpoena to Credit Acceptance on Aug. 11, according to the company. Use this button to show and access all levels. The stipulation is signed by both Plaintiff and Experian. Top-requested sites to log in to services provided by the state. This case was filed in U.S. District Courts, Illinois Northern District. 1:22-CV-04958 | 2022-12-16, U.S. District Courts | Contract | And the best part of all, documents in their CrowdSourced Library are FREE! Both a large subprime auto finance company and a state attorney general seemed pleased to announce a settlement between them that is involving more than $27 million. Customer Center - Exeter Finance Then on Aug. 11, yet another subpoena from Marylands AG was received by Credit Acceptance, which said in the SEC filing that it most of the requests contained in the previous subpoenas, making additional requests, as well as expanding the inquiry to include 39 other states, including: Alabama, Alaska, Arizona, Arkansas, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington and Wisconsin along with the District of Columbia. As part of the agreements, Exeter will waive deficiencies on certain subprime loans in its portfolio and will request that the major credit bureaus "wipe all trade lines for involved subprime loans" on affected consumers' credit reports, according to the statements. About Exeter Finance - Franchise & Independent Dealership Financing (Plati, Michael) (Entered: 07/08/2021), (#4) SUMMONS Returned Executed by Dennis J. Henderson as to Experian Information Solutions, Inc. on 6/28/2021, answer due 7/19/2021. Exeter Finance LLC RSS Track this Docket Docket Report This docket was last retrieved on March 16, 2020. 20-10377 . Suggestions are presented as an open option list only when they are available. 48207-2997, Automotive News Mailed notice (ef, ) (Entered: 09/03/2021), (#28) NOTICE of Voluntary Dismissal by Dennis J. Henderson as to Defendant Exeter Finance, LLC (Plati, Michael) (Entered: 08/31/2021), (#27) MOTION by Defendant Exeter Finance, LLC for extension of time to file answer regarding complaint #1 (UNOPPOSED) (Ritchie, Alan) (Entered: 08/30/2021), Docket(#35) MINUTE entry before the Honorable John F. Kness: In their joint initial status report #34 , the parties explain that they "have completed their settlement documentation and anticipate that they will complete the settlement and file a Stipulation of Dismissal by November 30, 2021." Your company won't be getting anymore business from me. Service due by 1/3/2022. For more information, see ourPrivacy Policy. Exeter Finance Announces Investment from Warburg - Warburg Pincus Everything was wrong every time I call to check on things and ask to speak with a supervisor they can never come to the phone and the information that they are telling customers are all wrong and I feel like if they would have told me everything that I needed when I called the first time everything would have been sent and I wouldnt have to call everyday or every other dayI feel like they are very unprofessional when it comes down to giving customers the right information when needed. The deal resolves a lawsuit that Healey filed in Suffolk County Superior Court in August that accused the Southfield, Michigan-based company of violating state consumer protection and debt collection laws and regulations. And then on Monday, the Massachusetts attorney general ramped up the legal activities with a lawsuit against Credit Acceptance for allegedly the company provided unfair and deceptive auto financing to thousands of Massachusetts consumers, providing investors with false or misleading information regarding auto securities they offered and engaging in unfair debt collection practices. Have an opinion about this story? TYRONE CANADY VS COASTLINE RECOVERY SERVICES, INC., ET AL. Contact the Attorney General's Office at (617) 727-2200, AG Healey Sues Major Subprime Auto Lender for Unfair and Deceptive Practices in Its Subprime Auto Loan Business in Massachusetts. This matter was handled in the AGs Office by staff of the AGs Insurance and Financial Services Division, including Peter Leight, Burt Feinberg, Matt Frank, Tim Hoitink, Maggie Wallace, Jessica Nario, Arwen Thoman, Erin Morris, and Division Chief Glenn Kaplan. Delaware and Massachusetts previously partnered to crack down on deceptive subprime auto lending. Subprime auto lender Exeter Finance has agreed to pay more than $6 million in two states for financing auto loans that the lender knew or should have known were unfair. 28% interest is really terrible and leaves customers feeling taken advantage of, although I know that lending to people with subpar charge is always a risk and that comes with high rates of interest. People Get Where They Want To Go. JM&A Group, Easycare, Assurant: Unlocking new opportunities in F&I with digital retailing, Kerrigan Advisors: Interview with Baxter Auto Group, Kerrigan Advisors: Interview with Hitchcock Automotive, OEC: How to understand what customers are saying when theyre not saying it, PACE: Electrification Technology: Once the supply chain gets over the shock, EVs offer opportunities, Pace Program Navigating advanced driver-assistance systems, Phone Ninjas: 5 Reasons you need to use phone scripts for your dealership, REYNOLDS & REYNOLDS: Creating great retail customer experiences, REYNOLDS AND REYNOLDS: Are you ready for the FTC Safeguard Rule changes? Make a recording of their phone calls. from 8 a.m.-5 p.m. CT. Let MyAccount give you more time back in your day. Thank you for your website feedback! This settlement is part of AG Healeys review of securitization practices in the subprime auto marketan industry-wide investigation that remains ongoing. Both states say the. 8:20-CV-01048 | 2020-03-13, U.S. Courts Of Appeals | Contract | Finally, one place to get all the court documents we need. 4:23-CV-00702 | 2023-02-24, U.S. District Courts | Finance | 2023 by Cherokee Media Group All rights reserved. Their Interest rates are extremely too high, terrible customer service, they are not there to help you, basically mess your credit up, dont give a rats a$$ about situations and arent reliable. Companies can ask for reviews via automatic invitations. (arut) (Entered: 10/07/2021). For the reasons given below, the Motion is granted. When recognizing the arrival of the subpoenas through a filing with the Securities and Exchange Commission, Credit Acceptance said, We are cooperating with these inquiries and cannot predict the eventual scope, duration or outcome at this time. Exeter Auto Finance Reviews (2023) | SuperMoney Sincerely, Office of the President Exeter Finance LLC Initial Complaint 10/31/2022 Complaint Type: Billing/Collection Issues Status: Answered I am not liable for this debt with Exter Finance. 1:21-CV-01488 | 2021-03-18, U.S. District Courts | Finance | The streamline service was great. Attorney General Maura Healey is the chief lawyer and law enforcement officer of the Commonwealth of Massachusetts. Response to Motion due by 11/29/2021. We also ensure all reviews are published without moderation. In March 2017, Santander Consumer USA Holdings Inc. agreed to pay $16 million to more than 2,000 Massachusetts car buyers and another $6 million to the state for originating auto loans based on customer incomes that were "incorrect and often inflated."