N.J. Assembly Democrats: Moriarty Bill to Require Dealers to Pay Off Consumer Debt on Trade Vehicle Within 15 Days Approved by Assembly Panel
January 28, 2020
January 28, 2020
TRENTON, New Jersey, Jan. 28 -- The New Jersey Assembly Democrats issued the following news:
To avoid leaving customers on the hook for thousands of dollars and potentially having their credit score damaged, dealerships would be required to resolve a customer's trade-in loan within 15 days of accepting the trade-in under a measure sponsored by Assemblyman Paul Moriarty (D- Camden, Gloucester). The bill was approved by the Assembly Consumer Affairs Committee on Monday.
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To avoid leaving customers on the hook for thousands of dollars and potentially having their credit score damaged, dealerships would be required to resolve a customer's trade-in loan within 15 days of accepting the trade-in under a measure sponsored by Assemblyman Paul Moriarty (D- Camden, Gloucester). The bill was approved by the Assembly Consumer Affairs Committee on Monday.
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