Right to Cancel / Notice of Cancellation

Right to Cancel:

This is a copy of the information you should see on a notice of cancellation.

It should be included in any information that would be left with you upon signing a contract for credit repair services.

In many cases this notice is compulsory with almost any sale in most states. It should be in duplicate form.

The truth in lending act makes it compulsory with any lending agreements in mind.

The omission of  the "right to rescind" can be an important argument in many foreclosure cases.

How the Right to Cancel disclosure should read

NOTICE OF CANCELLATION

You have the right to cancel this agreement without penalty or obligation by contacting (the credit repair organization's name or lending institution) of your intention to do so at any time before midnight of the 3rd business day which begins after the date on which the agreement or contract was signed by you.


To cancel this contract you must mail or deliver a signed, dated copy of this cancellation notice, or any other written notice to (name of the company) at (the address of the company) before midnight on (date).

It should also read:

I hereby cancel this transaction,

(the date)

your signature

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