Centrix Financial Stalls, Declares Bankruptcy

Law360, New York (September 20, 2006, 12:00 AM EDT) -- Auto lender and racing sponsor Centrix Financial LLC has pulled over for a pit stop in Chapter 11.

Centrix, which specializes in auto loans for customers with sub-par credit, filed for Chapter 11 in Nevada, listing more than $100 million in assets and liabilities, respectively. Centrix’s Web site touts the company as the “official auto finance company of NASCAR.”

On September 15, three of Centrix’s creditors filed an involuntary bankruptcy petition against the company in federal bankruptcy court in Colorado. Those creditors—IFC Credit Corp., Suntrust Leasing...
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