Great Seneca's Ghost is continuing to try to collect judgments

I received two calls last week from people in different states who are facing renewed collection activty on Great Seneca Financial Corporation judgments dating from as far back as 2003.  I have written about Great Seneca before. The thing to remember is that Great Seneca and a numbrer of associated companies are defunct, dead, ceased to be, toes-up, shuffled this mortal coil and gone to join the choir invisible, breft of life, they rest in peace, they are ex-companies. 

Here is a list of the dead companies that shouldn't be collecting from you. 

Great Seneca Financial Corporation
Platinum Financial Services Corporation
Monarch Capital Corporation
Colonial Credit Corporation
Centurion Capital Corporation
Sage Financial Corporation
Hawker Financial Corporation

A company named Stone Creek Financial, Inc. has claimed to be the assignee of some of these judgments, but the documents that I've seen don't include an assignment of individual accounts.  They have used a lawfirm named Slovin & Associates Co. L.P.A.  

If you are receiving letters regarding a judgment of any of the dead companies, or if they are trying to seize assets or garnish wages out of a judgment relating to these companies, please contact my office at 317-662-4529.  If you are not in our area, I will look for a NACA consumer lawyer in your home state to refer you to.  

More Proof Trump's CFPB pick is working against consumers - New Policy on Car Loan Rates

For years consumer lawyers were telling authorities that banks were working with car dealers to fleece minority buyers, fleece them by charging minority group buyers more for interest than non-minority buyers.  Ally Financial was tagged to pay $98 million in a settlement regarding overcharges in 2013.  (Don't feel bad for Ally, they got $16 BILLION in the bailout.) 

The way this worked is that lenders gave dealers flexibility in determining the "sell rate" on an auto loan they originated, with a fixed "buy rate" charged by the bank.  Some unscrupulous dealers used this as a tool to charge buyers of color (and others they determined were gullible) higher interest rates than they would otherwise qualify for and higher rates than others with similar credit were paying for the same loans.  The CFPB was installing a system with a "fixed reserve" so that dealers would up-charge by a standard amount for each loan. 

According to Auto News, even ahead of a formal change in policy, lenders are reinstating flexible margins on their loans, thereby making it open season on consumers again.