He was using a rent to own program with a company called Dealer
Services Corporation (who are a total ripoff).
He could not get enough of a weekly/monthly payment from his customers to make the payments the lending company required.
You would be amazed at the people who want to put money down on a car and then think they don't have to make any payments.
If you enjoy complete misery, get into the used car business.
Ken had a very successful lawn care business before that, I'm not sure if he had sold it or what.
We Must Stop unfair Business Practices, You could be next!!!
Call "The Man Who Made Dealer Services Corporation", Stop! Usurious Loans in California.
If you are a consumer and you have been damaged. Call Michael Grissom 818 749-3288 Now!
Has your car been Repossessed by the dealers, Floor Plan Company?
We may be able to help! California Auto Dealers "PEOPLE HELPING PEOPLE".
see: Dealer Services Corporation Pissed consumer . com
Written by California Auto Dealers, on 05-06-2009 11:56
William Clay (D-MO) introduces bill aiding Rent-to-Own scammers.
When you thought this depression era Congress finally learned from their gross negligence in overseeing the mortgage industry, they now have their sights sets on the most vulnerable borrower, the Rent-to-Own customer. House of Representative bill 1744 by Rep. William Lacy Clay was introduced on March 26, 2009. The bill currently has 92 co-sponsors.
Dealer Services Corporation (DSC) president John Fuller says his "Ren'T'Own" automobile financing "can separate a delinquent "renter" from his beloved car in a New York minute–no sticky consumer-protection laws to slow things down".
With unemployment sky-rocketing, the Rent-to-Own industry wants to skip the pesky Federal Truth in Lending Laws enacted to protect citizens from unscrupulous lenders.
If your congressional representative is a co-sponsor of this bill, write or call them today to demand that they withdraw their support of this bill that targets the poor.