cosigned for a new car, fraud

[formula280ss]

What is the name of your state? Illinois

My girlfriend cosigned on a new car for someone who set her up. We found out that the guy she cosigned for is a professional con man and not to mention, a gypsy. The information that he gave on the loan application was untrue. His place of work and his residence. My girlfriend has excellent credit and the car dealer just ran her credit to approve the loan.
My question is, can she get out of the contract because the information that was submitted by the other person was fradulent. Payments are still being made, but not by him, by the women who set my girlfriend up.
What rights does my girlfriend have? Now she knows what she did was absolutly wrong but what responsibilty does the car dealer have in checking out the guy? The guy has the vehicle and is insuring it. I am sure it is a matter of time before they quit paying on the vehicle and it dissapears.

Please help. My girlfriend is an absolute basket case about this.

 

[jpritchett81]

The only thing I can think of is....to inform the finance company that the owner falsified the loan application.....that will void the contract. The reason I suggested that was on the back of my contract it states that if you provide false information to obtain a loan it will void the contract. Maybe that will work in her favor....just a possibility

Otherwise......pray that he pays on the loan.....your girlfriend should have been very careful when cosigning a loan.....that's a huge responsibility!!! My thing is if you co-sign on anything you should have that item in your budget just in case...b/c they will come after you for the loan if the owner defaults.

I personally refuse to co-sign for anyone! I'll loan you the money but I don't want my name on anything that isn't mine!!!!!

 

[djohnson]

I don't think it's going to be that easy. If it was half the people out there now would start putting the wrong phone number down and then say oops, the contract is void now, when ever it suited them. She is going to be on the hook. She back up this person. They will look for her if it doesn't get paid. How is the car titled? If her name is not also on the title then she can't even go get the vehicle.

 

[seniorjudge]

What is the name of your state? Illinois

My girlfriend cosigned on a new car for someone who set her up. We found out that the guy she cosigned for is a professional con man and not to mention, a gypsy. The information that he gave on the loan application was untrue. His place of work and his residence. My girlfriend has excellent credit and the car dealer just ran her credit to approve the loan.
My question is, can she get out of the contract because the information that was submitted by the other person was fradulent. Payments are still being made, but not by him, by the women who set my girlfriend up.
What rights does my girlfriend have? Now she knows what she did was absolutly wrong but what responsibilty does the car dealer have in checking out the guy? The guy has the vehicle and is insuring it. I am sure it is a matter of time before they quit paying on the vehicle and it dissapears.

Please help. My girlfriend is an absolute basket case about this.

Q: My question is, can she get out of the contract because the information that was submitted by the other person was fradulent.

A: No.

 

[HomeGuru]

she should hire an atorney and sue the con artist.

 

[seniorjudge]

she should hire an atorney and sue the con artist.

What would she sue for?

She agreed to pay the note and now she's having to pay it.

 

[HomeGuru]

What would she sue for?

**A: damages under the recently passed Illinois Gypsies, Tramps and Thieves Act.


******
She agreed to pay the note and now she's having to pay it.

**A: read the post again. The tramps are paying the note.

 

[seniorjudge]

**A: read the post again. The tramps are paying the note.

Of course! Now I understand: The Cher Doctrine of Recoupment.

Thank you for clearing that up.