Southfield, MI -- (SBWire) -- 11/08/2011 --A Michigan attorney who has represented hundreds of consumers in disputes with some of the largest financial institutions in America is helping the Federal Trade Commission (FTC) to explore how car buyers can avoid harmful leasing and financing transactions.
Ian Lyngklip, senior member of Lyngklip & Associates Consumer Law Center, PLC, Southfield, has been invited by the FTC to be a panelist on a workshop it is sponsoring entitled “The Road Ahead: Selling, Financing & Leasing Motor Vehicles.”
The workshop, the final of three FTC-sponsored roundtable events staged this year, will be held 8:30 a.m. to 4:45 p.m. November 17, 2011, at the FTC Conference Center in Washington, DC. A live webcast will be held for those who cannot attend the workshop. The topics covered will be motor vehicle leasing, spot delivery and other consumer issues.
“A spot delivery, or yo-yo sale,” says Lyngklip, “happens when the car dealer sells the consumer a vehicle and completes all the steps necessary to sell the car including executing a contract of sale, signing title, taking a down payment and turning over the keys. After the transaction is finished, the dealer calls the consumer back claiming the deal has fallen through. In some instances the dealer uses fraudulent means or forcible repossession to take the car back.”
“Furthermore,” adds Lyngklip, “these consumer frauds happen regularly when the dealer learns that it cannot make as much money as it expected on the transaction or when a finance company refuses to buy the deal or purchase it on the terms that it had originally agreed to with the dealer. Either way, the consumer has a binding contract and has every right to expect the dealer to honor it. If the dealer does not honor the contract, the consumer may lose a down payment or trade-in vehicle."
The workshops are being sponsored by the FTC to gather information on possible consumer protection remedies it may wish to pursue in its role of guarding consumers against mistreatment, misrepresentation or outright fraud. For information go to http://www.ftc.gov/bcp/workshops/motorvehicles/.
“I have spent my career in law standing up for victims of some shady actors in the auto leasing and financing fields,” says Lyngklip. “I am proud to participate in this workshop and assist the FTC in any way I can in trying to stop these predatory practices before more consumers become prey.”
Lyngklip, who regularly appears as a speaker and panelist at national events, has been named Consumer Advocate of the Year by the National Association of Consumer Advocates and also earned the Frank Kelly Consumer Advocate Award from the Michigan State Bar Association Consumer Law Section.
Lyngklip has been quoted as an expert on consumer law by such national publications as Smart Money magazine, Wall Street Journal Money Watch, the New York Times and Kiplinger's. He is one of 5% of all lawyers designated as a Super Lawyer and has testified for the Michigan House of Representatives as well as the Federal Trade Commission (FTC).
About Ian Lyngklip
Ian Lyngklip is an experienced lawyer representing consumers in disputes with debt collectors, car dealers, banks, credit reporting agencies and bad corporate actors. He specializes in representing victims of collection abuse, credit reporting errors, and car dealer fraud. He is senior partner of Lyngklip & Associates Consumer Law Center, PLC which offers free consultations and does not collect a fee unless a recovery is made.
Michigan Consumer Law Attorney to Join FTC Roundtable on Auto Leasing & Loans Nov 17
Ian Lyngklip, senior member of Lyngklip & Associates Consumer Law Center, PLC, Southfield, has been invited by the FTC to be a panelist on a workshop it is sponsoring entitled “The Road Ahead: Selling, Financing & Leasing Motor Vehicles.”