Financial Center First Credit Union Repossession

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Indiana Consumer Law Group announces the filing of a lawsuit against Financial Center First Credit Union, a credit union located in Indianapolis, Indiana. The lawsuit alleges that Financial Center First Credit Union repossessed our client’s car. It then sent her a letter titled “Notice of Our Plan to Sell Property” which advised her that her car would be sold at auction at Indianapolis Car Exchange, a dealer-only auction located in Whitestown, Indiana and gave her a specific date and time of the auction. The letter also stated:

The dealer auction is not generally open to the public, but you may attend the sale and bring bidders if you want, provided that you bring a copy of this letter with you and present it to gain entry to the auction. Any bidders that you bring will also need to have and present a copy of this letter to gain entry to the auction, or they will need to be with you when you enter the auction.

However, the complaint alleges that in fact the letter would not grant anyone access to the dealer-only auction. The lawsuit therefore contends that the letter is misleading and unfair because it falsely states that a consumer or someone associated with them could purchase the repossessed car at auction when that was not the case. The complaint also alleges that the notice letter does not comply with Indiana law in other respects. The case is being brought as a class action.

Indiana Consumer Law Group believes that Financial Center First Credit Union uses two lawyers of two different law firms to file lawsuits against consumers who have had their cars repossessed.  One of those is Michael E. Farrer of Graham, Farrer & Wilson, P.C. and the other is Karl T. Ryan, Attorney at Law. If you have been sued by Michael Farrer or Karl Ryan on behalf  of Financial Center First Credit Union, if you’ve received a Notice of Our Plan to Sell Property letter from Financial Center First Credit Union or if you’ve had your car repossessed by Financial Center First Credit Union, we would like to hear from you. You can call us at 800-817-0461 or submit a contact form here.