Under the truth in lending act, creditors have a week to notify consumers of their right to cancel the transaction True.
You are protected from unreliable and dishonest credit invoicing and credit card practices by the Truth in Lending Act (TILA). It mandates that lenders give you information on loan costs so you can shop around for specific sorts of loans.
The three-day right of revocation period starts as soon as three events take place, which are normally all at the time the loan closes: You put your hand on the promissory note. The closing disclosure, also known as the Truth in Lending Act (TILA) disclosure document, has been provided to you.
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