CompuCredit Makes Auto Loan Deals

CompuCredit Corp is pleased to announce that they have made two different auto loan deals in California with the assistance of the firm of Troutman Sanders. Troutman Sanders says that it was through the work of two of their partners, W. Brinkley Dickerson, Jr. and Andrea M. Farley, that the deals were a success.

CompuCredit first purchased ACC Consumer Finance LLC of San Diego on February 2nd; then later that day purchased a $195 million auto loan portfolio from Patelco Credit Union of San Francisco. For both transactions, the company paid a total of $168.5 million in cash and debt.

CompuCredit had disclosed the transactions in the annual report that they had filed on February 28th. The annual report was filed with the Securities and Exchange Commission. They said that without the help of their outside council and internal council the deals could not have gone off as smoothly as they did.

The company used internal council David J. Maslia and Rosalind T. Drakeford to complete the acquisitions in addition to the assistance they received from Troutman Sanders.

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