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Compliance

BHPH Dealer to Refund Late Fees

December 19, 2013

DES MOINES, Iowa — Auto Special Inc., a buy-here, pay-here dealership, agreed to refund fees to customers and forgive any outstanding balances owed by car buyers who had their vehicles improperly reposed in the past two years, the Des Moines Register reported this week.

Attorney General Tom Miller alleged the dealership did not comply with state laws when it collected late fees from customers who were less than 10 days late on payments. In Iowa, creditors must give consumers 10-day grace period and give them an opportunity to make a late payment within 20 days.

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