Unlicensed California Lender

Unlicensed California Lender

Posted in the Auto Dealers Forum

AFA Seeking 189 Million

Alhambra, CA

#1 Apr 28, 2009
Dealer Services Corporation

American Family Auto, principle Michael Grissom, was contacted by Southern California Auto Dealers to head a Class Action law suit against Indiana flooring plan lender Dealer Services Corporation. Apparently Grissom discovered during his investigation of DSC, had more to hide than the 11 counts alleged against the corporation. Grissom filed Breach of Contract on July 11, 2007 against DSC just after DMV investigator exonerated American Family Auto. The investigator stated that DMV was dropping the fraudulent report filed by Claudia Ponce (DSC Field Service Manager in Riverside, California).
Marquez DMV said that Floor Plan Lender often used his department to collect against dealers out of trust (default), during his investigation against American Family Auto Marquez discover Mark White one of the defendants also named in legations against DSC was walking titles directly into DSC and collected $ 73,000 on Grissom line of credit Marquez confirmed White and DSC were the only ones aware of the fraudulent transfers of chattels and Arizona titles, walked to DSC by White who is a Manager of Dial Finance a Arizona Corporation doing business in California with auto auctions, dealers, and Floor Plan Lender AFC, and DSC top leading companies in the U.S. supplying dealer lending.
DSC claims Dial Finance and White was presenting duplicated titles on vehicles. DSC employees of the Riverside California office join forces with Troy Rogers West Coast regional manager for DSC, to investigate Dial after they placed $130,257.00 on Grissom credit line apparently it was efforts collaborated to pay off the duplicate titles it had received from Dial Finance, it seems a easier solution was to get the titles off it’s book by supplying Dial with money from American Family Auto account, so that Dial paid for the fraudulent titles it had presented to DSC earlier. Dial was under fire by American Financial Corporation (“AFC”) another Indiana Flooring Company.
Bad Auto Lenders

Cincinnati, OH

#2 Apr 29, 2009
There are Companies like Dealer Services, that give our country a bad name! No wonder the world views American corporations as bottom feeding, scum sucking leeches. Big Corporations suck the life out of the small businesses that made Our Country Great! This is why we are in a Recession. The business ethics of larger corporations in this nation have got to change. If this country desires a more stable economy, the integrity of major industry needs to be rethought. CEO's and shareholders alike ought to put emphasizes on the well being of this nation, instead of lucrative action alone.
California Auto Dealers

Alhambra, CA

#3 May 14, 2009
Dealer Services Corporation is an Unlicensed Financial Lender

Dealer Services made more than one loan to M. Grissom In fact, DSC made twenty two (22) loans to Grissom on a single day, 9/01/2006. The various loans ranged from $1,100 to $11,000. Dealer Services Corporation must be a licensed California lender.

A. "Finance lender" includes any person who is engaged in the business of making consumer loans or making commercial loans (Financial Code §22007).

B. A license is required if one makes a single consumer loan (defined as any loan of less than $5,000) or more than one commercial loan (Financial Code §22050).

DSC’s receivable detail report to Grissom dated 9/08/2006 (Exhibit A), DSC’s loans have rates charging interest at APR rates that can exceed 500%

A. An unlicensed lender that willfully charges usurious interest is guilty of loan sharking (CC §1916-3(b), a felony punishable by up to five years in prison. CC §1916-3(b).(Nonwillfully charging too much interest merely entails treble damages. CC §1916-3(a).) The requirements for a usury violation are:

1. The transaction must be a loan or forbearance of the use of money;

2. The loan must be made by a non-exempt lender in a non-exempt transaction;

3. The interest received by the lender must be in excess of the maximum rate that is applicable to the transaction; and

4. The lender must have a willful intent to inter into a usurious transaction (the lenders willful intent can be presumed when the loan is usurious on its face).

HN13
The California Unfair Competition Law (UCL) permits any person acting for the interests of itself, its members or the general public to file an action for restitution and/or injunctive relief against a person or business entity alleged to be engaged in any unlawful, unfair or fraudulent business act or practice. The UCL allows a private plaintiff who himself has suffered no injury to file a lawsuit under the UCL in order to obtain relief for others.
What do you do when a corporation is liable for damages against your family business, do you walk away?
Do you fight the giant Corporation like there's no tomorrow?
Do you find video of yourself at 6 o clock news?
Do you put it in Gods hands and let his supernatural powers fight your enemies?
Share your comments with us.
CASE AGAINST HIS PEOPLE

Alhambra, CA

#4 May 28, 2009
You don't want me to tell all your dirt.

I will keep the good stuff for later in court.

at lease you can take all your AFC buddies, lawerys, Nathan, on a trip a long trip.

Hi J C. W. you can go with them.
You were too late. Jan 18, 2009 was not a good day for you.

Don't throw stones when you live in a glass house.

we want the world to know your crimes... until we meet

I told Mr. G it's not about the money,
It’s how you abused California Dealers.
What do you have against Family own Dealer have you looked at all the dealers with the name Family in it you put out of business we have a long list of names.

We want you to know that we shall give back to the community what you took from, San Bernardino, Riverside, Fontana, Moreno Valley

We plan to feed the children with your money.

No amount of soap or lye can make you clean.

I still see the stain of your guilt.
Jeremiah 2, 22

Guest Who?
Michael Grissom

Riverside, CA

#5 Sep 26, 2009
Warning in good faith to, Dealer Services Corporation

As most of you know, Mr. Grissom is the man who made Dealer Services Corporation “GET A California Finance License

Grissom thinks back to 2007 when all he wanted to do was send a letter to John Fuller President of DSC, he says there’s no way that Mr. Fuller was aware of all the thing his employees where doing, so he set out to write Fuller informing him of his experience with DSC after Grissom send his 2 page letter to the attorney, he was advised that Fuller didn’t gave a you know what, about the complaint or Mr. Grissom.

He thought his attorney was so wrong, but never followed up sending the letter.

O M G I’m so… glad that I never sent that letter, If I only knew then what I know now, I would have stop DSC from operating in California auto auctions before they got there California Finance License.

I was sure that I was doing the right thing by allowing DSC to work out its kinks since it was a new company. HAHAHA that was the dumbest move I have ever made.
Rico

Anaheim, CA

#7 Dec 4, 2009
Dealer Services Corporation is Loan-Sharking

California has stringent usury laws well engrained within its constitution. The maximum amount of interest which can be charged for a consumer loan is 10%. The maximum amount of interest on a commercial loan is the greater of 10% or 5% of the federal discount rate as set by the San Francisco Federal Reserve Bank. CA Constitution, Art. XV§1(2).
DSC’s receivable detail report to Grissom dated 9/08/2006 (Exhibit A), DSC’s loans have rates charging interest at APR rates that can exceed 500%(Exhibit B-1, B-2, B-3, B-4, B-5,C,D,E,F )
A. An unlicensed lender that willfully charges usurious interest is guilty of loan sharking (CC §1916-3(b), a felony punishable by up to five years in prison. CC §1916-3(b).(Nonwillfully charging too much interest merely entails treble damages. CC §1916-3(a).) The requirements for a usury violation are:
1. The transaction must be a loan or forbearance of the use of money;
2. The loan must be made by a non-exempt lender in a non-exempt transaction;
3. The interest received by the lender must be in excess of the maximum rate that is applicable to the transaction; and
4. The lender must have a willful intent to inter into a usurious transaction (the lenders willful intent can be presumed when the loan is usurious on its face).
Rico

Anaheim, CA

#8 Dec 4, 2009
CALIFORNIA IS OWED MILLIONS IN FEES

Flooring lenders have defrauded the State of California of millions of dollars in fees by not registering vehicles.

The California DMV regulates the title and transfer of all vehicles in California. In order for a lien on a vehicle to be valid, DMV requires the registration of the vehicle.

Upon registering a vehicle, DMV will "issue a certificate of ownership to the legal owner" (Veh Code 4050.) "No transfer of the title or any interest in or to a vehicle registered under this code shall pass, and any attempted transfer shall not be effective,... until the appropriate documents have been delivered to the DMV."

The ONLY exemptions are (1) when the transferee of a vehicle is a dealer who holds the same for resale...(2) a dealer who conducts a wholesale auction.

THERE ARE NO EXEMPTIONS FOR LENDERS WHO FLOOR TITLES. A lender is required to transfer title for their interest to be valid.
PREDATOR COMES TO L A

Glendale, CA

#9 Jul 13, 2010
Shark Bite Victim Struggles To Survive
Bottom feeders fed off victims, aiding predator to seek new flesh.
FOR IMMEDIATE RELEASE
PRLog (Press Release)– Jul 13, 2010 – Michael Grissom was being torn to shreds. As he fought for his life, he witnessed other victims caught in the frenzy of this ravenous beast. Causalities were strewn coast to coast, as bottom feeders aided this shark to feed on the flesh of the unwary.
The shark that tore into Grissom and others was a special breed that was cultivated in a “war room”. This predator was a Loan Shark, scourge of the savvy less borrower. A loan shark endeavors to make their clientele obligatory annuities.
Dealer Services Corporation made so called “flooring lines” of credit to used car dealers. In reality they were individual loans, secured by vehicles the dealers bought at an auction. The truth in lending laws does not apply when you make loans to, as DSC claims,“sophisticated” borrowers. No disclosures of the true interest rates being charged to these small business owners were necessary.
Although still wounded, Grissom has continued to battle DSC. Grissom hopes that his struggles will allow other victims to ask for help from their state and federal representatives.

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