Legal Question in Consumer Law in Pennsylvania

Unathorized loan request

I recently helped a friend by co-signing a loan. A few weeks later I found out the loan agency tried to refinance my automobile loan without my permission. I received a letter from the lender saying I was denied. Was this legal and what should be done to prevent this from happening to someone else. To my understanding this effects my FICO score by 3 points and will make it harder for me to get a loan in the future.


Asked on 1/08/07, 3:43 pm

1 Answer from Attorneys
Marc V. Taiani AAAL - Allegheny Attorneys At Law

Re: Unathorized loan request

A loan agent cannot proceed with processing a loan without your explicit authorization and approval. There are several penalties both federal and state that are associated to such violations.

For more information please contact my office at 412.731.0865 or visit my website at www.AlleghenyAttorneys.com. My office offers 1/2 hour free initial consultations.

Sincerely,

Marc V. Taiani, Esquire

AAAL - Allegheny Attorneys At Law, PC

412.731.0865

www.AlleghenyAttorneys.com

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Answered on 1/09/07, 2:00 pm


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