Credit Application Fraud Q & A: Credit Kinking by Car Dealer

Consumer Question: Is there any way I can ‘get out of’ a car loan that was obtained/approved due to false/untrue income amounts that the finance manager, not me, wrote on my loan application?I did not want a car loan because I was already maxed out and could not afford another bill of any type. I should not ever have been approved for a loan and I wouldn’t have been if they had submitted the numbers I put on the application. What are my chances of getting this Toyota Dealership to ‘eat’ this screwed up loan?

Answer: Yes, it may be possible to unwind this sale. You should definitely consult with an attorney that specializes in consumer law and car sales. You will need to have the paperwork from the sale handy, and be ready to supply copies. Credit “kinking” is a huge problem in the car sales industry, and we have several cases currently pending with similar facts. They are very difficult and tricky matters to handle, and, as always, prompt action improves your chances.