What can I do if I found out that a dealership approved my credit application by fraudulently increasing my income?
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What can I do if I found out that a dealership approved my credit application by fraudulently increasing my income?
The dealership used the incorrect income. My income at the time was $1643 but they used $3300 more. I just found this out 2 days ago because I requested a copy of the application.
Asked on October 19, 2017 under Business Law, Maryland
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
You are not entitled to any compensation for this, and so there is no point to legal action. Whether or notthey "increased" your income on the application, *you* made the decision to accept the deal, buy or lease the care, and make the payments on it. If you felt that the payments were too much for you, or the car too expensive, you could have refused to buy or lease it. However, by buying or leasing it, you agreed to the terms the dealership provided; however, those terms were determined, having agreed to them, you would have no recourse.
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