QUESTION
Auto Dealership committed co-signers fraud on my ssn. What can I do?
Asked on Jul 31st, 2014 on Business Law - Tennessee
More details to this question:
An auto dealership financed a car loan for my dad and I on the same day in 2012. In 2013 my brother signed a loan with the same auto dealership. My dad co-signed for him, and the dealership financing agent, instead of requesting to verify my dad fully, pulled up my information instead and added to my brother's loan. This whilst it should be known that I was not present at the location of this auto dealership on the day of his financing and for many weeks thereafter. I found this out almost one year later in 2014 when I was trying to refinance my car and my brother's car showed up on my credit. What can I do?
1 ANSWER
You can sue to have your liability on the loan invalidated. However, the longer you wait the harder it will be. You are obligated to act with diligence after you learn of the fraud. If you sit back and wait after you know about it, you may be deemed to have ratified it.
Answered on Aug 01st, 2014 at 8:04 AM