The Federal Trade Commission is accusing two local auto-loan modification operations of fraud in connection with making false promises to consumers.
In a lawsuit filed in U.S. District Court for the Eastern District of California, the FTC contends that operations in Folsom and Roseville charged hundreds of dollars in up-front fees, based on bogus promises that they could reduce consumers' monthly car loan payments and help avoid repossession of their vehicles.
One is identified as Hope for Car Owners LLC at 13389 Folsom Blvd., in Folsom, with an office at 1410 Rocky Ridge Drive in Roseville. The suit lists defendant Patrick Freeman as "sole manager of HCO and its registered agent."
The FTC also filed against NAFSO VLM Inc., with a listed business address of 8441 Briggs Drive in Roseville. The filing says VLM also does business as Vehicle Loan Mod. Defendant Naythem Nafso was named as that firm's sole officer and registered agent. The NAFSO VLM filing also included charges against a San Diego loan-modification firm, Kore Services LLC, doing business as Auto Debt Consulting.