California company that illegally rented dogs in Massachusetts reaches settlement

California company that illegally rented dogs in Massachusetts reaches settlement

A California company has agreed to pay nearly $1 million after illegally renting dogs to families in Massachusetts. Monterey Financial Services has agreed to provide more than $930,000 in debt relief and restitution after admitting to renting hundreds of dogs in Massachusetts, Attorney General Maura Healey said. Although legal in some states, dog leases are illegal in Massachusetts. In some states, pet stores may offer the option of leasing as an alternative to financing a dog, similar to leasing a car. Under a lease agreement, the consumer must make monthly payments to the finance company for the duration of the lease. To purchase the dog at the end of the lease, the consumer must make another payment to the finance company to finally own the dog. Similar to car leases, if the consumer misses a payment, the animal can be repossessed. the company used illegal collection practices to collect outstanding lease balances. The company has agreed to stop collecting on all active leases involving dogs in Massachusetts, transfer full ownership of the dogs to consumers, and cancel any outstanding amounts on the leases. Last year, Credova Financial, LLC and Nextep Holdings, LLC, both based in Nevada, reached a settlement with Massachusetts after illegally renting dogs in Massachusetts.

A California company has agreed to pay nearly $1 million after illegally renting dogs to families in Massachusetts.

Monterey Financial Services has agreed to provide more than $930,000 in debt relief and restitution after admitting to renting hundreds of dogs in Massachusetts, Attorney General Maura Healey said.

Although legal in some states, dog rentals are prohibited in Massachusetts.

In some states, pet stores may offer the option of leasing as an alternative way to finance a dog, similar to car leasing.

Under a lease agreement, the consumer must make monthly payments to the finance company for the duration of the lease. To purchase the dog at the end of the lease, the consumer must make another payment to the finance company to finally own the dog.

Similar to car leases, if the consumer misses a payment, the animal can be repossessed.

“Massachusetts families looking to get a dog shouldn’t be trapped in harmful, expensive, and illegal rental agreements,” Healey said.

The settlement said the company used illegal collection practices to collect outstanding lease balances.

The company has agreed to stop collecting on all active leases involving dogs in Massachusetts, transfer full ownership of the dogs to consumers, and cancel any outstanding amounts on the leases.

Last year, Credova Financial, LLC and Nextep Holdings, LLC, both based in Nevada, reached a settlement with Massachusetts after illegally renting dogs in Massachusetts.

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