Byrider — the national sub-prime auto king with an outlet in Muskegon — serving the working poor who need quick access to cash, goods or cars or are they “preying” on their financial desperation? When people take goods to a pawn shop, they are putting an item up for collateral for a cash loan and given so many days to recover the item at a stiff interest rate — 35 percent at Golddiggers. Mandisa Bruce, who also was housing her brother and his son, bought the Oldsmobile at MD Auto Sales, 5710 Holton with a “sub-prime” auto loan that was eventually sold to Automotive Credit Corp. Automotive Credit has been in the sub-prime auto loan business since 1992, purchasing loan contracts from independent dealers for “consumers with limited or challenged credit histories who are unable to obtain financing from traditional sources,” according to the company Web site. When people take goods to a pawn shop, they put an item up for collateral for a cash loan, and are given a set number of days to recover the item at a stiff interest rate — 35 percent at Golddiggers. The legal aid attorney told the court in answer to Automotive Credit’s complaint that Bruce surrendered the uninsured vehicle to the auto loan company at the time she filed for bankruptcy but the company did not pick it up from her house. read more