The Truth-In-Lending-Act (TILA) helps provide consumers with peace of mind and confidence regarding their loan.The purpose of the Truth In Lending Act (TILA) is to promote the informed use of consumer credit by requiring disclosures about its terms. It standardizes the manner in which costs associated with borrowing are calculated and disclosed.

TILA also gives consumers the right to cancel certain credit transactions that involve a lien on a consumer’s principal dwelling, regulates certain credit card practices, and provides a means for fair and timely resolution of credit billing disputes. The Truth in Lending Act requires disclosure of ALL costs and charges pertaining to the transaction.

The Truth In Lending Act is a strict liability statute. There is no intent requirement. The lender can violate the statute by mistake and continue to be liable for a violation of the Truth In Lending Act. Under some circumstances there is a good faith defense. There are statutory damages and mandatory attorney fees and costs.

Bring us all of your paperwork regarding your transaction for FREE!

At Rosenberg, Miller, Hite & Morilla, LLC we will go through your paperwork with you and find any existing violations. We will then sue the dealership on your behalf, FREE OF CHARGE. We will recover your damages of up to $1,000 and our attorney’s fees.