after bank gives loan can they call and say work reference doesnt check out?
59gal asked:
okay daughter and bofriend got loan for 5th wheel camper and after papers signed and they got camper bank calls and says daughter doent work and they can repo camper can they do this?
okay daughter and bofriend got loan for 5th wheel camper and after papers signed and they got camper bank calls and says daughter doent work and they can repo camper can they do this?
December 1, 2008
• Tags: 5th Wheel, Reference Check, Wheel, Wheel Camper, Work Reference • Posted in: Credit
5 Responses to “after bank gives loan can they call and say work reference doesnt check out?”
yes if there was fraudulent info on the application. If not no way in heck –but read the contract
Yes they can!
In most cases when you sign your loan documents there is one paragraph that sais that all the information that you gave them is true to the best of your knowledge and that they have the right to recall the loan (which means repossessing whatever the loan was for) and cancel the contract.
Be sure you try your best to resolve whatever the issue may be before it gets that far. Most of the time they just want to make sure that there is just a steady income.
I hope this helps!
Yes they can. Even though the papers are signed… If they feel that certain things on the application is unclear or not true with reason, they can cancel that contract
Yes they filed fraudulent papers stating income that does not exist. They cannot only repo but sell at auction for whatever they can get (its not new anymore) and file for a judgment for the remaining, and file fraud charges.
Yes they can, all the information on the credit application must verify as correct for the contract to become binding.