How the Federal Truth in Lending Act Protects Car Buyers

By: Robert J. Nahoum The Federal Truth in Lending Act (TILA) is a federal law that was enacted in 1968 to protect consumers from unfair and deceptive lending practices. TILA applies to a wide range of consumer credit transactions, including car loans. One of the key provisions of TILA is the requirement that lenders disclose certain information to borrowers before […]

Sued By Clover Commercial Corp In New York or New Jersey?

By: Robert J. Nahoum THE PROBLEM: You have just been served was a summons and complaint.  Clover Commercial Corp is suing you for an old debt. WHO IS CLOVER COMMERCIAL CORP?: Clover Commercial Corp is an infamous “sub-prime†auto lender in the New York metropolitan area.  Clover Commercial Corp makes loans to consumers for the purchase of automobiles.  As a […]

What Are Private Attorneys General?

By: Robert J. Nahoum THE PROBLEM: In each state, the protection of consumers from unscrupulous businesses is left in the hands of the Attorney General.  However, because they have limited budgets and are elected officials subject to the political whims of the day, Attorneys General are not capable of addressing each instance of commercial wrong doing. THE RULE: To ease the […]

Brand New Cars Can Be Lemons Too

By: Robert J. Nahoum Is there any consumer purchase more intimidating then buying a new car?  You enter the show room and read those signs in the windows of the cars about fuel mileage, the number of cylinders, the suggested retail price and of course the warranty.  But how could you ever know if that warranty is sufficient to protect you.  […]

Buy a Used Lemon?

By: Robert J. Nahoum In these days of belt tightening and budget cutting more and more people are foregoing bright shiny new cars for ones perhaps a little less new and with a bit less luster.  Here in New York, I am seeing measurably more older cars on the road then I have before.  But delving into the used car market […]