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When he drove away in his brand new Lexus he was riding high and living his dream.

He never thought his world would soon come crashing down.

The car was great. But it was his credit that he claims Lexus ruined.

"I have heard of things like this being done to people just from listening to the news," says Cruz, a husband and father of two. "I never knew of anyone personally having something like this done to them."

Cruz, who's a commercial banker and real estate investor, says his nightmare began in 2001, shortly after he leased his 2000 Lexus GS300.

He says he made his monthly lease payments to Toyota, the parent company of Lexus. Yet he says bad record keeping ended up listing him as "delinquent" even though he wasn't. Toyota reported him to credit agencies.

He says at first he tried working with the company. He sent letters to Toyota and the company sent him a letter saying the company erred and appeared to make things right.

But that wasn't the end of it.

He says Toyota again began recording him as delinquent when he wasn't and reported him to the credit agencies.

With his credit now ruined, it became impossible for him to make money on real estate as an investor.

"Real estate agents thought I was a poor client because I could never get financing," says Cruz, "no one wanted to work with me."

Father of two sues Toyota Motor Credit

In 2003, while still making payments on his leased Lexus, he filed a lawsuit with the Supreme Court of the State of New York (Index No: 03-17730) against Toyota Motor Credit Corporation and Lexus Financial Services, claiming that Toyota and Lexus ruined his credit and severely impacted his income.  The lawsuit is now in the New York State Court of Appeals.

According to the lawsuit, he wrote letters, sent faxes and spoke to Toyota Motor Credit and the credit agencies. He claims in the suit Toyota Motor Credit and the credit agencies responded by mail, fax and phone stating they would correct his credit reporting. But right after his credit was fixed, Toyota Motor Credit falsely and deliberately reported Cruz's credit over and over again, according to the lawsuit.

"As a result of Toyota's incorrect reporting (Cruz) has been forced to accept mortgages at a higher interest rate," the lawsuit says, "incorrect reporting by Toyota defamed (Cruz)."

The lawsuit seeks more than $6-million in damages.

Toyota is fighting the lawsuit, claiming Cruz has no right to file the claim because Toyota has a "qualified privilege to report" to Credit Reporting Agencies "even if the information was incorrect."

Cruz relocated his family from New York to Colorado to get a fresh start. And now he wonders whether he's been targeted because he's Hispanic.

"I have never in my life had anyone do anything to me because of my surname," says Cruz.

"It's so important to win because this should never be able to happen to anyone."

Toyota Motor Credit has been sued for allegedly discriminating against African-Americans, Hispanics and women.  The company has settled some of those suits.

In his case, Cruz wants a thorough investigation into alleged illegal acts by Toyota Motor Credit. 

About John Cruz: John Cruz, a commercial banker and real estate investor, now lives in Colorado with his wife and two children.

Contact: John Cruz
Email:
Phone: (631) 872-1675
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