A Toyota dealership sold me a car with interest monthly payments and lender on the purchase contract. 22 days later they wrote saying they wanted the car back because they couldn't get me financed. I knew they only had ten days to rescind the contract. During that time and since then, which is now 38 days later they continue to have (sub=prime) lenders check my credit with the latest being just two days ago,.There's now a total of 9 inquiries being done. My credit score has dropped from 675 to 599 which is very damaging. As well as numerous phone calls from various salesmen to try to get me to return the car, they sent yet a different salesman to my house last week who said he'd "come to pick up the car". He finally left half an hour later after I told him he cannot, and I will not let him do that. I am going to make the first monthly payment next week to the dealership itself. What should be my course of action for damages to my credit?
The dealer's purpose of trying to find an assignee of the installment contract have been determined to be a valid reason to view the consumer's credit by the dealer and its potential assignees. See, for example, these cases: Stergiopolous v. First Midwest Bancorp, Inc., 427 F.3d 1043 (7th Cir. 2005); Enoch v. Dahle/Meyer Imports, L.L.C., 2009 WL 499544 (D. Utah Feb. 27, 2009); Castro v. Union Nissan, Inc., 2002 WL 1466810 (N.D. Ill. July 8, 2002); Shepherd-Salgado v. Tyndall Fed. Credit Union, 2011 WL 5401993 (S.D. Ala. Nov. 7, 2011); Anderson v. Frederick Ford Mercury, Inc., 694 F. Supp. 2d 324 (D. Del. 2010).
An exception exists if the consumer specified to the car dealer at time of signing the credit application which lender(s) can access their report, such that other potential assignees who are contacted by the car dealer do not have a permissible purpose to view the consumer's credit. See Young v. Harbor Motor Works, Inc., 2009 WL 187793 (N.D. Ind. Jan. 27, 2009).
Your credit has been lowered. To recover for that damage, the consumer must first be able to prove that the credit reporting statute has been violated by an impermissible pull of your credit. These are complex cases requiring an attorney with expertise in the credit reporting area to (a) evaluate the case and (b) to litigate it, if the case has merits and provable damages.
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