Legal Question in Consumer Law in Illinois
amount financed
bill of sale/purchase contract the unpaid balance does not equal the anount financed for the purchase of a car. is this proper?
Asked on 12/03/02, 12:18 pm
1 Answer from Attorneys
Jay Edelson
KamberEdelson
Re: amount financed
There are laws -- such as the Truth in Lending Act -- that require companies, in certain circumstances, to clearly and accurately disclose the amount of financing you took. It's impossible to fully answer your question without seeing the contract and disclosure statements. If you want me to take a look at them, I'd be happy to do so free to charge.
Jay Edelson
Phone: 312-913-9400
Fax: 312-913-9401
Answered on 12/03/02, 12:30 pm
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