HYUNDAI MOTOR FINANCE COMPANY CHARGED WITH FRAUD IN LOS ANGELES BANKRUPTCY CASE LOS ANGELES “the class action case is proof that Hyundai admits debtor’s vehicle has lost value….HMF states the value of the vehicle as $22,333. But the retail purchase agreement with WIN Hyundai Carson states the cash price of the vehicle as $17,886 as of August 3, 3012. Creditor HMF has not explained the discrepancy or why the information in its claim is false. 11 U.S.C. section 506 (a)…The proof of claim by HMF fails to alert the court that the debtor is entitled to reduce the claim simply by canceling the optional service plan and gap insurance. That would bring the total value of the claim down by about $3,000. This concealment by HMF proves its claim is fraudulent. The claim should be disallowed in its entirety based on this concealment by HMF…There is no way I can go to work and pay for the car and pay for the bankruptcy payments if I am sitting in jail as a result of Hyundai Motor Finances’s gestapo tactics…Hyundai Motor Finance has presented a fraudulent claim. The attachment to their claim shows that the cash value of my vehicle at the time of purchase was about $17,800. That was about 2 years ago. But their actual claim states motor vehicle valued at over $22,000. This is a false and fraudulent statement as the value of the vehicle is less than $16,000…the Claim …presented is fraudulent and there has been a proven breach of performance against debtor and vehicle showing denial of service to debtor at an authorized dealer of his choosing, thus affecting the value of the vehicle herein.”
Posted on: Tue, 28 Jan 2014 06:06:23 +0000
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