Nuvell Financial Services Closes, Arkansas Jobs Not Affected

GMAC Financial Services announced that it will be closing its subsidiary Nuvell Financial Services LLC, which mostly wrote car loans to subprime customers.

The demise of Nuvell will not affect any jobs in Arkansas, according company spokesman Mike Stoller.

In February 2008, GMAC announced it would be scaling back the operations in Little Rock. Since then, several jobs have been transferred out of state, while the remaining jobs, around 589, Stoller said, have been turned into account servicing positions with GMAC's subsidiary Semperian.

Semperian is the servicing subsidiary of GMAC that services accounts after the initial transaction, performing functions such as collecting payments, changing addresses, etc. 

GMAC broke the bad news to employees last week. Associates affected by the closure won't be shown the door until March 7, Stoller said.

Exactly 348 employees in Jacksonville, Fla., and Dallas will be affected by the closure of Nuvell -136 will be offered other positions at GMAC, while 212 will be given severance packages.