Consumer complaint received 2024-03-04
Product: Debt collection — Auto debt
Issue: Attempts to collect debt not owed — Debt is not yours
Company: Choice Mtg INC. (TX)

On XX/XX/XXXX, I reached out to my long-time loan representative XXXX XXXX at Oklahoma 's Credit Union to inquire the process of trading my son 's current vehicle. 

She discussed with us the process and amounts and rates and gave us a verbal pre-approval. 

On XX/XX/XXXX, my son went to XXXX XXXX XXXX after searching for vehicles based on the specifics stated by XXXX. Although we told the salesperson we had a verbal pre-approval with OKCU, the dealership 's finance manager, XXXX XXXX informed us she had better rate options with different lenders, and would get XXXX approval without me as a co-signer. 

As requested we both applied for a loan through the dealership. Due to a very costly and ongoing divorce, my debt-to-income ratio was too high and my application was denied per XXXX, the XXXX  finance manager. 

However, my sons application had been approved on his own through Oklahoma 's Credit Union via the application submitted by the dealership. XXXX finalized the remainder of the loan process with my son only. They only thing asked of me was to sign a XXXX giving my permission to allow my son to trade our current vehicle for the new. 

A week or so later, I received a call from XXXX of OK Credit Union stating that I needed to sign the remainder of the loans docs to finalize my son XXXX auto loan. She stated that XXXX indeed needed a co-signer to complete the loan and that I will need to sign the remaining docs required as a co-signer. 

I informed XXXX that I was told by the XXXX at dealership that : 1 ) I had been denied by OKCU, and that 2 ) he had been approved for the loan alone 3 ) the loan had been completed and signed off on by the dealership. 


XXXX at OK Credit Union stated to me the dealership had given me incorrect information and that the loan was approved, but only with me as a co-signer and my signature was required to complete the loan otherwise it would be rescinded. She then sent me a XXXX to finish the loan application. As requested, I did what XXXX asked. 

Recently, my son fell on hard times due to XXXX XXXX XXXX While in treatment, I began handling his finances, attempting to help him pay his bills until he is able to help himself again. I contacted OKCU to let them know the circumstances. I having loan access as a co-signer, accessed the account and began to catch up payments where XXXX fell short. I then obtained the vehicle from XXXX and saw the dealer tags expired. XXXX stated he was unable to pay the taxes, title and tag fees on the vehicle. To get the car registered, I then called the XXXX XXXX to inquire the cost of the items needed to register the vehicle. I was told to come in so I drove to Oklahoma. The XXXX  agent and owner stated to go to the dealership to get the copies of the bill of sale and title paperwork so they could calculate the cost of registration, which included taxes, title, past due fees and fines to be paid due its delinquent state. 

As instructed I contacted the dealership. I was told by the finance manager XXXX that my loan application had been denied and the loan for the vehicle was approved and funded through OKCU in XXXX name ONLY. The finance manager XXXX XXXX stated they never received a new loan application to add me the existing loan and the would not be able to. XXXX stated the current title listing XXXX as the only buyer is correct and if I were on the loan and there was a change, the loan would have needed to be re-contracted and subsequently re-titled to include my name. The XXXX  XXXX  owner agreed with XXXX and also refused to add me to the title as requested by XXXX of OKCU in email informing XXXX that if I was never listed as a co-buyer on the loan application, promissory note, bill of sale or title ; it is illegal for the credit union to simply " add me '' to an already existing loan. 

Attempting to rectify this issue on numerous occasions, I have received several different narratives from OKCU. When I talked to XXXX in XX/XX/XXXX upon learning the information from both the dealership and XXXX  XXXX, she articulated, that she didn't have a new application, she simply added me as a co-signer to correct the loan terms due to XXXX falling behind in his payments. 

After speaking with XXXX multiple times to resolve this problem ; I then reached out to XXXX XXXX, a supervisor of OKCU, as of XX/XX/XXXX. XXXX XXXX gave several different justifications as to why I had been added to the existing loan. XXXX first stated that XXXX specified to him that I asked to be added to the loan, so she just added me. Next, he then stated that OKCU underwriters used a pre-approval application alleged submitted in XX/XX/XXXX to amend the existing loan. He stated that because the application was submitted through the dealership, the loan department forgot to attach the alleged pre-approval application, causing my application submitted by the dealership to be denied on 3 separate attempts. He then stated that although XXXX loan was approved and funded without his requiring a co-signer ; OKCUs " intention '' was to approve the loan only if I was included as his co-signer. XXXX stated that the error was caught only after the loan was approved and funded with XXXX only. Hence the reason the Bill of Sale and Title listing XXXX alone. XXXX continued in that I was added later to prevent extra paperwork and inconvenience for the dealership. 

As it stands, OKCU violated the Truth in Lending act and deceptively lied to get me to sign documents, changing the terms of the loan. Essentially, I was illegally added to an existing loan under deceptive pretenses. OKCU lead me to believe that I was approved as a co-signer and funded a loan, and then coerced my signature by stating they simply needed me to sign the final loan docs ; which I now know was an untruth.