Remember PREDATORY LENDING that got exposed during the big housing bubble burst of 2008? Remember how we all found out banks were issuing toxic loans they knew would fall apart, and then foreclosing on the “victims?”
They’re at it again, but it gets worse. Now those same “bad guys” can shut down your car because your credit score was “mediocre” when you went to get that car loan. Yes, and most likely because the toxic lenders, who, might we remind you, were reimbursed and BAILED OUT of their mess, have become predators again, shutting down people’s cars, even while driving on the highway, for a being a few days late on their new toxic loan.
What rights will you give up because of your average credit score in order to secure some kind of financing? Just because people need to borrow money doesn’t make them criminals who need parole officers and GPS satellite tracking of their every movement. what’s next, an ankle bracelet tracker for a credit score between 580 and 620? Do you have to get an MMR booster vaccine and have a microchip put in your brain if your credit score is below 580? What if you had a bankruptcy and a car repo, are you a terrorist?
2 MILLION VEHICLES right now have Starter Interrupter Mechanisms
as reported by Natural News:
The new technology is being employed by lenders as “Wall Street’s version of Big Brother,” the Times reported, mostly against consumers whose credit scores took a hit during the recent financial recession. Specifically, automobile loans that are considered subprime — that is, those made to borrowers whose credit scores are at or below 640 — have dramatically increased since 2009. About one-quarter of all new automobile loans made over the past year have been subprime; the volume of subprime loans grew to more than $145 billion in the first quarter of 2014…. before subprime borrowers can leave the car lot, they have to have their automobiles fitted with a so-called starter interrupt mechanism, which will allow lenders to prevent it from being started. Learn more: http://www.naturalnews.com/047240_debt_collectors_subprime_loans_disabled_vehicles.html#ixzz3G7l54mSK