Outcry over finance companies

Sanka Price,

Added 17 October 2012

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.

JOIN THE DISCUSSION

Dos and Donts


Welcome to our discussion forum here on nationnews.com. We encourage lively debate, but we also urge you to take note of the following:

  • Stay on topic – This helps keep the thread focused on the discussion at hand. If you would like to discuss another topic, look for a relevant article.
  • Be respectful – Meeting differences of opinion with civil discussion encourages multiple perspectives and a positive commenting environment.
  • Do not type in capitals – In addition to being considered “shouting” it is also difficult to read.
  • All comments will be moderated – Given the volume of comments each day, this may take some time. So please be patient.
  • We reserve the right to remove comments – Comments that we find to be abusive, spam, libellous, hateful, off-topic or harassing may be removed.
  • Reproduction of comments – Some of your comments may be reproduced on the website or in our daily newspapers. We will use the handle, not your email address.
  • Do not advertise – Please contact our Advertising Department.
  • Contact our Online Editor if you have questions or concerns.
  • Read our full Commenting Policy and Terms of Use.
comments powered by Disqus

VIDEO

POLL

Do you believe that the CLICO report should be unsealed?

Yes
No
Don't know

INSTAGRAM

CARTOON