Jefferson County Truth in Lending Act Attorney
For many creditors and lenders, just selling you on the debt that you are incurring is not enough. They have additional products that they want you to utilize. The Truth in Lending Act (also called the Consumer Credit Protection Act) requires that banks and other institutions that lend money be clear about what the true cost of borrowing that money will be. At Brent W. Davis, L.L.C. in Birmingham, Alabama, we have a thorough knowledge of the requirements of the Truth in Lending Act and will work to hold your creditors to its terms.
At Brent W. Davis, L.L.C., we educate our clients about the fallacy of the additional “value-added” products that a lender or creditor will try to sell their customers. They are told at the time they get their loan that they need insurance and additional fees to protect them. The lender may communicate what they are getting, but in the end, the add-on is worthless.
Violations of the Truth in Lending Act occur often as lenders exploit their more naïve clients. They stress the importance of additional products to protect the customers, when the fees and increases in monthly payments only add to the weight of the debt. As that debt grows through fees, higher interest rates, and assessments for late payments, a once-simple loan is now complicated and impossible to pay.
Chapter 7 or Chapter 13 bankruptcy may be the best option to resolve your financial crisis. In addition, we will seek to hold those lenders accountable for violating the Truth in Lending Act. We will perform a detailed review and analysis of the loan agreement you signed. We will argue to the courts that those lenders should pay attorneys’ fees because they, in part, facilitated the debt problems of our client.
For more information, or to schedule an appointment with a lawyer about the Truth in Lending Act, or any misrepresentation by a lender, please contact us.