Reagor Dykes customer facing huge impacts to credit score after trade-in lien not paid off


Lubbock, TX – Since the end of April, the Lubbock County Tax assessor’s office has processed 94 tax, titles and licenses for Reagor Dykes customers. It’s been a slow and frustrarting fight for dozens of car buyers, many who were caught in the crossfire of this bankrupcty case. But for many custoemrs, that fight continues as this bankruptcy case now impact their credit scores. 

“We’ve always had good credit ratings, we’ve always paid our bill,” said Patrick Gent who bought a car from Reagor Dykes last summer just weeks before the company filed for bankrupcty. 

While buying the car from Reagor Dykes, Gent also traded in a car through the dealership. The lien on that trade-in should have been paid off by Reagor Dykes, but the check bounced, making Gent legally responsible for his new car payment and the payment on the car he traded in. 

“When we called Reagor Dykes, they said ‘We have no idea where your car is that you traded in,'” said Gent. “You’re like how am I going to get out of this and who is going to help.”

Gent was unable to pay for two car payments, so he decided to write the check for the car that was actually in his posession. 

Because of his decision to pay the payment for one car, his credit score dropped nearly 100 points.

“We trusted those people,” said Gent. “I could have gone to two or three different dealerships in Lubbock but we went to them to buy the car.”

He’s tried calling the bank and even credit score report companies to fix his score but with no luck. 

“When you spend a lifetime being honest with your credit and then it takes a hit, it’s unnerving,” he said. 

There’s no telling how this will all play out as the bankrupcty court proceedings are still underway. But for Gent, he said Reagor Dykes put his financial security at risk. 

The team at Reagor Dykes is working on finding all the of the trade-in liens to get all the TTL’s sorted out correctly and get answers for customers. It’s not clear if their credit scores will be fixed after the bankrupcty case is over. 

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