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Zachary
Zachary, Attorney
Category: Legal
Satisfied Customers: 4021
Experience:  Lead trial/International commercial attorney licensed 11 yrs
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I bought a car on May 6 2013 in Baltimore Maryland at Koons

Customer Question

I bought a car on May 6 2013 in Baltimore Maryland at Koons dealership. When I sat down with the sales person he handed me a loan application to fill out and and at that time I informed him that I would be paying cash for my vehicle and didn't need a loan. Mr derrick lewis informed me that they wouldn't shop my application for a loan but they needed to run my credit to verify who I am so filled out the application with the impression that my credit application would not to be used to obtain credit. when I sat down with the person to sign the paper work again I express to him that I didn't need credit because I was paying for the vehicle in cash again he assured me that my application would only be used to verify me and the application would not be used to obtain credit. Transaction was completed and I gave them a check for 21,000 dollars. One week later I receivewd a letter from pnc bank denyng me credit for a loan application from koons. This will show up on my credit report therefore lowering my credit score. Do I have any legal recourse.
Submitted: 1 year ago.
Category: Legal
Expert:  Zachary replied 1 year ago.
Hi,

Thank you for your question.

You may indeed make a claim against the dealership under the theory of Negligent Damage to Credit. The measure of damages that you would ask for are the increased costs you will incur in obtaining credit because of the drop in your credit score that this may cause.

Typically, you would only bring a case like this if it were indeed true that you have incurred a lost by having increased lending costs or are not being turned down for loans that you would have otherwise received but for the negligent action of the dealership.

Please let me know if you have any further questions. Please also kindly consider rating my answer positively so that I am compensated by the website for my work on your question. Rating positively does not cause an additional charge and does not prevent us from further discussing your questions.

Best Regards,
ZDN
Zachary, Attorney
Category: Legal
Satisfied Customers: 4021
Experience: Lead trial/International commercial attorney licensed 11 yrs
Zachary and 13 other Legal Specialists are ready to help you
Customer: replied 1 year ago.
how could I move forward with this claim. What would be the next step? These banks are sending me denial letters for credit because in December I bought a car and received a loan so now it looks like im shopping around for more credit and that's not the case and as a result will cause my credit to drop.
Expert:  Zachary replied 1 year ago.
This sort of claim is not a simple matter to present in court and generally will require expert witness testimony, which can tend to be expensive. The real issue here is that presentation of the claim may be more expensive than the damage which you may be incurring.

Have you looked at your credit score to see if it has actually taken a hit, or have you been denied credit because of this?
Customer: replied 1 year ago.
I would not see the difference in my score until next month. I have financed cars about 3 times in the last 5yrs and every time my score dropped about 20 points this is why I insisted with the dealership not to run my credit because I knew it would drop. The two banks that I have heard from denied me because of the loan I just received 5 months ago. There was no no need to contact banks about credit for me because I didn't need it but they ran it anyway. My score prior to this transaction was about 700 points. now it will drop under 700. Ive worked hard to maintain my credit score because it hasn't always been good. They need to be held responsible for their actions.
Expert:  Zachary replied 1 year ago.
The steps ahead of you are to locate a lawyer who knows how to do a claim like this (a consumer protection attorney), and to find out how much this kind of claim will cost to bring.

After finding out the costs involved, if it is worth it to you to incur these costs, then you have the right to sue on the claim.

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