There is a new state fund for consumer protection, with over $450,000.00 in it that remains untapped and so far, unhelpful to consumers. The use of the fund is for situations where (like my current client, Mr. Hevelone) a consumer has traded in a vehicle on the purchase of another, expected it to be paid off as part of the deal. Then, instead of paying it off, the dealer folds, and the consumer is stuck with two car payments.
The money is sitting in the fund, not helping consumers, as the board to oversee it has yet to be appointed. See the related story @ the bay area’s KGO website: http://abclocal.go.com/kgo/story?section=news/7_on_your_side&id=6613470