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Pheasant Gunner

Unauthorized credit inquires!

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I called my dealership on the 13th of March, 2017 and asked him some questions pertaining to a new car on their lot. I informed him that I would be trading in my 2016 vehicle on this new purchase if the deal was right. There were some good incentives on this vehicle and I was under the impression that I would qualify with a Ford Motor Credit auto loan on this vehicle. Both of my vehicles are through Ford Motor Credit. The next day on the 14th I arrived on the lot and they did appraisal value on my trade in vehicle. I authorized for credit with Ford Motor Credit and I found out through my Equifax Credit alert that the dealership sent my loan out to the lowest bidder. I was getting inquiries from banks I never heard of. My credit score shot down 12 points. I called the salesman and informed him that I wanted all bids stopped. By then it was to late and my credit report was already lowered by all of these inquiries that I did not authorize. I called All clear ID and they are going to work with me on getting them removed. 

I had to pay down $750.00 to get my payment under $400.00. The salesman was sorry that they did this and I told them to stop. I signed the form after the hard inquiries had already hit my credit report. Isn't that illegal for them check on a bidding frenzy with whom ever wanted to give a offer. Shouldn't they of informed me that they were going to do this? Is there any legal action I could follow up with?

 

Please advise. 

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