Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.
More than 55,000 Americans could soon see their remaining car debt disappear after one of the country’s largest subprime auto lenders agreed to a sweeping $710 million settlement.
Credit Acceptance Corporation reached the agreement with 40 states and Washington, D.C., resolving allegations that it placed borrowers with low incomes or damaged credit into auto loans it knew many couldn’t afford.
Top Picks
Under the settlement, Credit Acceptance will forgive approximately $634 million (1) owed by borrowers who took out loans between November 2015…