Title Loans
Better Auto Equity Loans of DE, LLCFind BBB Accredited Businesses in Title Loans.
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Important information
- Pending Government Action:Government Action: BBB reports on known government actions involving business’ marketplace conduct:Auto Equity Settlement for PA Consumers
https://www.attorneygeneral.gov/taking-action/vehicle-loan-consumers-will-get-back-705000-from-predatory-title-loan-company-via-ag-settlement/
Settlement with Auto Equity Loans also Results in Debt Cancellation for Pennsylvanians
HARRISBURG – Attorney General Michelle Henry today announced a settlement with a Delaware-based title loan company that levied illegal interest rates — with some borrowers paying more than 200% in annual interest.
As a result of the OAG’s recent settlement, Auto Equity Loans of DE, LLC (“AEL”) will refund $705,000 in unlawful interest charges to consumers who fell victim to the scheme. In addition, the settlement requires AEL to cancel and stop accepting payments on all remaining car title loans to Pennsylvanians – worth more than $1 million in debt cancellation.
AEL no longer operates as a car title loan business.
As part of today’s settlement, AEL and its successors, agents, owners, employees, and officers are prohibited from ever again making vehicle title loans to Pennsylvania residents.
Consumers who believe they have been taken advantage of by similar practices at another car title lender should file a complaint online or contact the Office of Attorney General at scams@attorneygeneral.gov or 1-800-441-2555.
The AEL settlement was filed in the Philadelphia Court of Common Pleas by Assistant Director for Consumer Financial Protection Nicholas Smyth.
Business Details
- Local BBB:
- BBB Serving Delaware
- BBB File Opened:
- 6/22/2010
- Business Started:
- 8/25/2009
- Business Incorporated:
- 8/25/2009
- Type of Entity:
- Limited Liability Company (LLC)
- Alternate Names:
- Auto Equity Loans
- Business Management:
- Mr. David Levi, Owner
- Mr. James Milonas, Client Services Associate
Additional Contact Information
- Principal Contacts
- Mr. David Levi, Owner
- Fax numbers
- Primary Fax: (480) 307-8353
- Additional Phone Numbers
- Other Phone: (302) 565-2502
- Additional Websites
- Website 1
Additional Information
- Referral Assistance
- Delaware Banking Commission
1110 Forrest Avenue
Dover DE 19901
Phone Number: 302-739-4235
Fax Number: (302) 739-2356
https://banking.delaware.gov/
bankcommissioner@delaware.gov - Business Categories
- Title Loans, Small Business Loans
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