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Truth in Lending
The Truth in Lending Act (TILA) ensures that consumers receive the most accurate information about financial terms when they enter into a credit or finance transaction. By law, you are entitled to certain disclosures in writing regarding the terms of a credit transaction. At Boris Davidovskiy, P.C., we represent consumers who have been abused or suffered financially because a lender failed to disclose important information.
What is the Truth in Lending Act?
TILA is a cornerstone of consumer credit legislation. The statute is Congress’s effort to guarantee the accurate and meaningful disclosure of the costs of consumer credit and thereby to enable consumers to make informed choices in the credit marketplace and avoid abusive lending. More recently, TILA has been amended to include a variety of substantive protections that seek to protect credit card and mortgage consumers from abuses directly.
TILA is an important law designed to preserve consumer’s rights transactions such as:
- Car purchases;
- Home purchases;
- Private student loans;
- Payday loans;
- Credit card transactions; and
- Refinancing and lines of credit.
Under TILA, companies are required to disclose things like interest rates, fees, and other terms and agreements. But, some companies violate the law, and our team at Boris Davidovskiy, P.C., is here to get justice for their victims. If you have been abused or have suffered financially because a lender failed to disclose important information, you may be eligible to recover damages, plus legal fees in some cases.
We will work diligently to get you the best possible outcome in your case. For companies that violate TILA, we seek the maximum compensation under the law, and we only take our fees from the winnings, not from your pocket.
Contact a Washington TILA Lawyer Today
Contact Boris Davidovskiy, P.C. for a consultation. We help those who have had their TILA rights violated obtain relief.