Legal Question in Credit and Debt Law in Indiana

car financing

i got my car financed and the guy who financed it said it was through a bank i found out its no i get charged different amounts in finance charges instead of a flat fee is this legal for a used car dealer to do? i gave him a title on another car to hold till i got the other car payed off do u have to have anything to be able to do that since there is no finance company involved in this matter? i asked when i got my car if it was reported to the credit bereau and he said it did and that was another lie. please help if u can


Asked on 10/09/02, 10:58 pm

1 Answer from Attorneys
John Bator Bator Redman & Shive

Re: car financing

It is possible that you may have redress under federal Truth-in-Lending laws. Under T-I-L law, the lender must disclose all finace charges and costs up front in writing. You should take your loan documents to an attorney experienced in this area to review and give you an opinion-since the law provides for atty fees if you recover, it may not cost you anything.

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Answered on 10/10/02, 1:18 pm


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