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Once the bank approves your auto loan, after reviewing employment status twice, can they revoke the loan after contract signed?

Business 7 views 1 answers
Bank reviewed employment verification twice and approved the loan, dealer prepared paper work, contract was signed and notarized. Finance manager at dealer calls to inform me that the bank is revoking the loan due to employment status as limited term. Threatens that if I dont find a co signer they will take the vehicle back. Can they do that?

Attorney Answer

1
John Bell ·
This is not a question a lawyer can likely answer without more info and probably reviewing the docs. I think you need to verify all facts. Did you call the bank to confirm yourself? Were there any misrepresentations? Even by innocent errors? I would suggest consulting an attorney on Guam. Some do free or cheap consults.
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