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Zachary
Zachary, Attorney
Category: Legal
Satisfied Customers: 3830
Experience:  Lead trial/International commercial attorney licensed 11 yrs
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In 2012 my daughter went to auto dealerin Texas to purchase

Resolved Question:

In 2012 my daughter went to auto dealerin Texas to purchase a Jeep Commander and used to her 2002 Honda as a trade. I was told by the dealership that the loan was approved they sent me the paperwork and I signed everything and sent the paperwork back. My daughter quit her job in Texas and moved back to South Carolina. Now the dealership saying the bank will not fund. the loan becau se she is no longer employed with the Company that was listed on the application. Now they have her 2002 bondage in Texas and have had two different repo companies to come to my job. What are my rights?
Submitted: 1 year ago.
Category: Legal
Expert:  Zachary replied 1 year ago.
Hi,

Thank you for your question.

I'm assuming that when you say that the dealership sent you paperwork, that the paperwork was in fact a Loan Guarantee Agreement. Is that correct?

-ZDN
Customer: replied 1 year ago.
Yes. All the loan paperwork was signeg
Expert:  Zachary replied 1 year ago.
Your daughter's continued employment was likely a condition of the approval of the loan. Because your daughter is no longer employed, the loan application was legally denied and the dealership's right to repossess the vehicle are rightly triggered.

As this is the case, the vehicle needs to be returned to the dealership, or a new loan agreement needs to be entered into. Until that happens, you remain personally liable for the purchase price of the vehicle.

In other words, because you signed the personal guarantee, your rights are very limited. However, you said that there were repo men showing up at your work? Do you have the vehicle? What are they saying when they come to your work?

I look forward to hearing back from you.
-ZDN
Customer: replied 1 year ago.
I do not have the vehicle. The Report me said he was going to the magistrate and the judge will put me in jail until I tell them where the vehicle.
Expert:  Zachary replied 1 year ago.
The threat that they may try to put you in jail is one that you should take seriously. Because your daughter took the car from the dealership under conditions which proved to be false, and now you have the vehicle in your possession, you could be charged with attempted criminal fraud. This criminal charge requires proof of intent on your part, which can be inferred against you under the circumstances.

You need to return the vehicle immediately. Has the dealership asked you to pay any money? Have you contacted the dealership and asked whether you could reapply for the loan?
Zachary, Attorney
Category: Legal
Satisfied Customers: 3830
Experience: Lead trial/International commercial attorney licensed 11 yrs
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