Cosigner Notice
It is an unfair act for a lender or retail installment seller to obligate a cosigner unless the co-signer is informed prior to becoming obligated. The notice must be given, on a separate sheet of paper, to all …
Customer Must Be Permitted to Keep Credit Disclosures
A line of recent court cases said that under truth-in-lending laws, the customer had to get two copies of credit disclosures (the federal box on the retail installment contract), one to sign and one to keep. The Federal …
Contracts Must Be Dated Correctly
Date all purchase agreements and finance contracts the day that the customer signs them. The dealer must also sign the contract. Keep a copy for your file and give a copy to the customer. If it becomes necessary …