brandley_1999 asked:


WASHINGTON - Blacks have been charged higher auto loan rates than other auto buyers, federal research says. But the gap in loan rates could narrow, and possibly disappear, as the result of recently concluded lawsuits.

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Blacks paid a typical auto loan rate of 7 percent for new cars, compared with a rate of 5 percent for whites in 2004, according to a consumer organization’s analysis of the Federal Reserve Survey of Consumer Finances. That was the most recent survey available.

And blacks were more likely than auto buyers in general to have auto loan rates higher than 15 percent. For used car loans, 27 percent of blacks who buy cars were charged interest rates of 15 percent or more. Blacks were three times as likely as whites — 27 percent to 9 percent — to have auto loan rates at least that high, according to the report released Monday.

Hispanics were paying a typical rate of 5.5 percent for new car loans, while 19 percent of Hispanics had loans for used cars over 15 percent, the analysis found.

Lenders’ suggested quote rates are based largely on the buyer’s credit history, but auto dealers often raise the rate higher than that risk-related rate without discussing the rate with the customer, consumer advocates said. And they question the causes of those rate differences.

It’s hard to believe that any differences in creditworthiness explain all of these rate gaps, said Stephen Brobeck, executive director of the Consumer Federation of America. They size you up, the car salesmen and finance and interest guys. They must think African-Americans are more vulnerable to a markup.

But a series of legal actions against auto finance firms seeking fair treatment for minorities could help solve that problem.

We had 11 lawsuits, the last of the cases settled last month, said Stuart Rossman of the National Consumer Law Center. We reached a settlement with each of the finance firms. Our cases involved discrimination. We believe the terms of the settlements will eliminate discrimination.

The first of the lawsuits was filed in 1998 in Nashville, Tenn., against General Motors Acceptance Corporation and was settled in 2004. The last settlement became final in April.

The effects of those legal actions may not be known for some time, however.

The National Auto Dealers Association questioned what accounts for the rate differences, but encouraged auto buyers to do their homework before going to buy a car.

The question that still is unanswered is why, said David Hyatt, a spokesman for the dealer’s association. People should do their homework and shop around. It speeds up the transaction, makes for a smoother transaction and is more likely to result in a satisfied buyer.

Hyatt said an organization supported by the auto dealers, Americans Well Informed on Automobile Retailing Economics (AWARE), offers tips to potential car buyers.

Chris Stinebert, president and chief executive of the American Financial Services Association, said his group is interested in educating consumers.

AFSA and its members believe there is no place for discrimination in the vehicle financing system, he said.

The lawsuit settlements against auto finance companies call for caps on dealer markups, opportunities for blacks and Hispanics to get loans with no markups within the next few years, more information about interest rate terms and consumer education for minorities.

The lower markup caps have leveled the playing field, Rossman said.

Consumer advocates say prospective auto buyers should call their bank or credit union for a rate quote to expect on an auto loan. That could protect them from unfair markups.

Other ways to hold down costs.

_Make all loan payments on time.

_Buy a used car, or a less expensive new car.

_Take out a loan over a shorter time.

The survey of 4,519, including 605 blacks, was analyzed by Catherine Montalto, a consumer specialist at Ohio State University for the Consumer Federation of America. The survey was conducted between May and December of 2004.

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Shorty asked:


I had a property settlement drawn up in my divorce that stated that I would not persue alimony in my divorce if my exhusband took full financial responsibility for a 2002 mitsubishi eclipse loan. Well after the divorce he had the car repossed because he didnt pay the loan and then filed bankruptcy. The loan company then came after me for the monies owed so I had to file bankruptcy. Anyway my question is, since he didnt take financial responsibility on the car like agreed in our property settlement, do I have any claim to file for alimony or damages?

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mymeeeshell asked:


have the right to our other house out of town. He is on the mortgage and deed I think but not on the loan. Can he demand sell it while his name is still on it?
I am in Florida btw.

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Hi, I’m Glory asked:


I here with the new stimulus plan signed by Pres. Obama It will pay my deposit, pay my rent and utilities and then I can get food stamps to buy chips and dip while getting my baby daddy to pay for my tv to watch my shows. Who needs to work under this new Socialist Government everyone wants. True or Not?

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MICHAEL C asked:


My wife seldom hit me, but her abuse was nonstop and vicious. She has used her tongue and mind to harm my life in ways an enemy wouldnt even stoop to doing. I have repeatedly demonstrated that I loved this woman more than any man could love, and she used my kind heart, dedication and love to hurt me beyond belief.
To make it clear, I wanted a family so badly, that i married a woman 3000 miles away I met online. I didnt know she was so bad, addicted to Rx drugs, or so very pretty.
1. She called police and said I abused her, after I found out she went to Canada with a rockstar, and a note to another man saying she loved him. Luckily I had entire encounter on tape, and cops didnt arrest me as she asked
2. She filed false divorce documents saying I contributed $3,000, when it was $178,000…She stopped divorce, and we got back together
3. Upon catching her writing other men, she destroyed my computer files containing #1s adultry, so I told her to go home to FL. Weeks later I found out she said I beat her to a doctor and family, making it impossible for me to move in with her.
4. She told me she waned to be a model and singer, then told me she had to write every man on myspace, and put up pix in skimpy outfits. As a Christian, this has hurt my soul. For sake of marriage and love, I said ok to keep her happy, even though it seemed sinful to me.
5. She signed my name for a loan to get plastic surgery, taking this 110lb woman with DD boobs, to a FF.
6. I found this out the day of surgery, as I Iearned she was in Mexico getting procedure done. I flew down to help her get thru surgery, then asked her about loan a few days later upon recovery. We had a fight over that and other guys she was writing, Next day in CA, she destroyed my computer again(contained more of her adultry), then yelled boody murder. Cops came, she was bleeding from surgery. she told them to arrest me on violence. They did, then let me go a few day later without saying a word, cause they didnt believe her.
7. A week later, I got another computer and checked her myspace. She turned it into a sexual dating site, filled with love notes and sexual comments. I got a dui at 8 am next morning.
8. I tell her Im going to file forgery charges, she starts being nice, and we make up. I told her I wouldnt check myspace anymore, cause we just fight too much about the things she writes men. We had 3 good months, until she started being strangely mean. I go onto myspace, and see that she was writing blogs about me beating her. My coworkers were on her friends list and could read these lies. She was telling a country music star she adored him and how hot he was in many letters and comments.
9. Though this is not in sequence, thruout marriage she wrote me about 8000 of the most horrible text imaginable. I still have not read 1,154 of them that are stored on my computer. they were so mean and insane, that I couldnt sleep, was hurting my job performance, and sometimes made me drink. I am a recovering alcoholic and was sober for 10 1/2 years until the night of #1.
10. We seem to make up, I continue sending her about 3/4(800) of my paycheck a week to pay for her house and living. In order to do that, I never bought clothes, made sack lunches and never ate out, stopped playing golf and never had fun. The only thing I bought was clothes for her modeling shoots every week, cameras and gear for photography. I had so many money making inventions and ideas, but only contributed to her modeling dream. The only thing I ever asked my distant wife for, was a 5 minute goodmorning and goodnight call, which she hardly ever did, instead I got about 40 crazy mean text while I was at work.
11. When her text became so absurdedly mean, I quickly took off work and flew to Florida. It took me 3 days to get there tho, cause I had trouble finding a flight I could afford. She learned about it, because she broke into my email(as usual), and saw itenarary. She had time to clean up. Strangely tho, on my 3rd day there, laying beside her bed, I found 4 pix with her and the man from #1 kissing. She was wearing a shirt I bought her, and my ring on wrong finger, so we were married. I was so hurt, because she always said she was faithful, just wrote stupid stuff from nievity. I took pix of pix, showing the date, which was 2 days before I left florida. I didnt tell my wife I found pix until I was at airport entrance. We had a great time together, and she wanted me to stay longer. When i told her about pix, she didnt flinch, make a face, show expression at all. I told her i forgave her, and loved her, all with a kiss and a smile. I told her I wanted to move home though. Half way home, I received a text. thinking it was an apology i was happy. No, she said i was a pervert because I looked thru her kids underwear drawer. they were at dads, and I searched house after i found pix.
12. She was still sending me terrible text, and I was crying. couldnt believe this from a woman who cheated, and I
Shoot it left out the worst parts because of length
I posted a part 2 since it was too long to fit. Please read, cause it gets even worse…I need help. yes all kinds

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