Legal Question in Credit and Debt Law in Virginia

credit card interest rates

a company out of georgia called me 3 days ago and convinced me they could lower all my card rates to below 9%. they charged their fee of 1197. to my card . do i have the 3 day right of recissio in virginia. i am becoming very skeptical of this and would like to cancel .do i call my card company or what ?today is the 3rd day .i have not signed any thing but they recorded my ok.


Asked on 4/16/09, 3:53 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: credit card interest rates

Yes, if your transaction is covered by the Virginia Home Sale Solicitation Act found at Va. Code Sec. 59.1-21.3, you have the right to cancel this sale

"until midnight of the third business day after the day on which the buyer signs an agreement or offer to purchase which complies with Sec. 59.1-21.4."

You must give written notice of the cancellation which is effective the date it's deposited in the mail.

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Answered on 4/16/09, 9:07 pm


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