Nation e-Edition

Outcry over finance companies

By Sanka Price | Wed, October 17, 2012 - 12:08 AM

Incidents involving finance companies repossessing vehicles then selling them for less than their market value, as well as landlords refusing to repay the security deposit to tenants, are on the increase.

So say Public Counsel Eli Edwards and investigations officer in that office, Romel Crawford.

For the first six months of this year there have been at least seven complaints brought against finance companies, as compared with one over the same period last year, said Crawford. And as for calls regarding the withholding of deposits, he said these were being received almost daily.

In the case of the vehicles, Crawford explained that when people are unable to repay their loans from the finance companies, the companies repossess the vehicles, sell them, and put the money from the sale towards paying off for the vehicle.

Please read the full story in today’s MIDWEEK NATION, or in the eNATION edition.

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Posted by Winston Grecia 1 year, 11 months ago
How can there be an outcry over Finance companies repossesing vehicles when they do not do it for one only payment. these people expect to drive around in a free car?

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