How does the Truth in Lending Act work? Does it protect you?
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- Опубликовано: 16 авг 2022
- The Truth in Lending Act is incredibly complex. It is not a statute that a lay person can read and understand sufficient to prosecute their rights and protect themselves.
It is just so massively complex that it requires expert assistance in resolving claims.
The public policies behind the TILA are:
1. Protecting consumers from fraud;
2. Standardizing purchases of goods through financing;
3. Setting rules for debt buyers and protecting investors from creditor fraud and related claims;
4. Protecting consumers who use the investor immunity to perpetrate fraud on consumers.
These are knotty problems to solve in a single statute.
If you want a hot tip on this, call a consumer protection attorney - not someone on the internet who pretends to know something - and find out if you have an actionable TILA claim. There is no other way to do this.
Consumer protection attorneys will review your TIL disclosure and your Itemization of Amount Financed to see whether the original creditor (the seller of the car) properly accounted for the Amount Financed and the Finance Charge. If there are mistakes THAT ARE CLEAR FROM THE ABOVE DOCUMENTATION WITHOUT REVIEWING ANYTHING ELSE, you have claims.
If there are errors that require reviewing other documents and information to disclose those problems, you have a much more challenging case.
If you are going to contact a consumer protection attorney, get the attorney the following documents:
1. A write up of your experience with the dealership and with the debt buyer/collector;
2. The TIL disclosure given you at the time of purchase;
3. The Itemization of Amount Financed given you at the time of purchase.
That's all you need to start. I LOVE it when people send me an email with the above information. I can just dive in and start mucking about with the deal to see if I can pull it apart.
That is true not just of me but of all other consumer protection attorneys who handle TIL claims around the country.
Hope this helped.
Consultations are always free!
Get a free initial consultation with Josh: denbeauxlaw.com/contact-us/
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Exactly car dealers be playing us hard
Thank you for this valuable information sir! Take care!
First and foremost thanks so much for sharing this vital information and I have a quick question? If an individual has challenged credit or a lower credit score, can this law still be utilized for individuals who may have bad credit?
I asked for my right to rescind a loan application and the TILA associated with it and was told they do not have either. I sent them an Affidavit of Truth with a Service Affirmation Under Notery and am not waiting. What would I do next?
So what if I asked to see my truth in lending act and they didn't show me also they wouldn't print the contract out for me they showed me certain portions of a contract and had me signing stuff I wasn't afforded the chance to actually ready
To see your truth in lending act? That does not mean anything, unless you mean you asked for a copy of your Retail Installment Sales Contract with the TIL disclosure and the Itemization of Amount Financed ... those you are entitled to see if you send a UCC 9 demand for the documents. Which, actually, I should do a video about.
As to signing things without being permitted to see the contract, that violates a number of statutes and rules.
@@denbeauxdenbeaux3486 is there anything I can actually do about it
What about the notice in 16 cfr 433.2. Is it required for dealerships to also have this notice on the contract?
What a great question. YES. On all financing agreements, the language of the FTC Holder Rule, which is the cite you reference, is absolutely required.
POLICIES ARE NOT LAWS!! SO USE THE USC AGAINST THE CORPORATION!
I need help on a case are you able to help me?
Where are you located? Best to answer that by emailing me at jdenbeaux@denbeauxlaw.com and explain what is going on.
What about pay to the order of the U.S. Treasury and Puerto Rico ?
I am not sure what that question means.
He's obligated not to State the truth, due to the oath he took when he past the BAR! The United States Inc has territorial rights in Puerto Rico so that's null and void to your question. In order to access your trust through the treasury there is a extremely lengthy process of documents that need to be filled out and sent in to the appropriate places.... I have those documents!
the documents are the SPC it's not complicated. you should just tell it instead of acting like this BAR fake holding info. be better.
@@JayAnonymous7 That sounds great, yet i see no site on you site...i don't quite get that...
Study contract law and USC codes...i have been studing for the last 9 years plus i have 2 law degrees...gotta take time to study just like everyone else!!
Which state ? STATE OF ? Several ? Sui juri republic guaranteed to the free states non military, non-insular federally purchased lands ? What do you mean, please ..
What happens if the dealer sells a vehicle that's supposed to have a 1 year 100,000 warranty and you discover it did not ( tractor trailer here... big rig ). The salesman who sold me the rig now avoids me. I get the runaround with no answer. I contact the finance company and they say, sorry we cannot help. Contact who sold you the truck but you're responsible for your monthly payments. A year latter, the motor goes out and i have to let the truck go since i don't have the funds to replace the motor. Ive spent thousands of dollars on repairs. Finance company have truck repaird and sales truck. The only letter i receive from finance company is the truck us sold for such and such and this dollar amount is what you're responsible for. My question is based on the deception i received from the sales person, has the truth and lending act been breached and do i have a case against the deslership/finance company. Thanks for your knowledge of this matter.
Oh, that is a huge case.
@@denbeauxdenbeaux3486 Thanks for responding. Are you an attorney that handle cases like this or do you know someone who could.
@@earnestj.3281 I do, but only in New Jersey. If you are in NJ, please reach me at jdenbeaux@denbeauxlaw.com. If you are not in NJ, I recommend going to National Association of Consumer Advocates to use their find an attorney search function for your jurisdiction. That is the leading consumer protection organization for consumer protection experts around the US. Either way, good luck, and keep fighting.
I have 10k added to my car loan, my suv loan is 10k added..sales price 16995, amount financed 27k . All 3 parties refuse to give me the contracts and documents.
Of course anyone can read it. The information provided is fairly simple. So should be easy to understand.
You think the Truth in Lending Act disclosures are simple and obvious? No. Not at all.
There are many, many ways to commit fraud under the noses of consumers.
Retained charges on the amount paid for GAP, or insurance, or documentation fees, for example. How would you know that the amount being charged included a retained charge and is therefore fraudulent ... unless the charge is always included in cash sales as well as financed sales ... in which case the same fraudulent charge is not a violation of TILA.
I bought a truck . They gave me 22% interest rate .. from $28k sticker price to 50k pls help !
If you are in NJ, I will be happy to take a look at the contract. If you are not, I suggest you contact an attorney in your jurisdiction to see if there is anything in there to use against the seller/finance company.
@@denbeauxdenbeaux3486do u have one in ne Ohio , that u suggest ?
Marc Dann, Esq., mdann@dannlaw.com
Help😭 yes that person is me. In need help
If you want my help, email me at jdenbeaux@denbeauxlaw.com with a clear email explaining what is going on and what help you think you need.
I will need your name and state in which you live in order to know how to respond.
If every Dexter learned the law under the freedom of information act the truth in lending and the rights of the consumer of which they are yeah you would have a little bit of chaos but then it would level out. And it's the government's fault that they didn't teach us law in primary and secondary school practices. If ignorance of the law has no excuse then the government and it's board of education has no excuse not to have taught such.
Learn it now.
But if you don't have to put money down on a car...who give you the money to purchase the car
Nobody gives you the money ... unless you have a benefactor in your family or social circle ... financial institutions lend you the money. That financing transaction is what the Truth in Lending Act regulates.
HELP😭DO I HAVE A CLAIM. if the salesman say the car is $12000 and you dont get the contract til 4yrs later am it say $23000 and did get any disclosures from bank. There also is apart that say if not signed it is not valid we sign but the dealer didnt could this be. A null contract😳 PLEASE HELP
@@southside9417 That is not necessarily a TILA claim, but a state UDAP claim. What state are you in?
@@denbeauxdenbeaux3486HELP😭what is UDAP MEAN. TENNESSEE cant find many laws here🥺
@@southside9417 No, neither can I. Try two places. First, www.suethecollector.com. The owner is a guy named Jarred Johnson, and he is a very good guy. He knows many, many, many, many more attorneys in the area than do I. Go fill out the form on his website. You can use my name if you want, but it wont be necessary. The other is to google national association of consumer advocates, go on their website and search for a local attorney using the attorney search function.
Good luck.
do you have Tourettes ? thank you btw !
Yes, a touch.
Wut a duk thing to say, 😮 wut is wrong with some of u
@@denbeauxdenbeaux3486I'm sorry he said that to u ... Ur fine ❤
Doesn't hurt me any. But thank you!