Truth in Lending Disclosure Statement Form
A truth in lending disclosure statement form is a document used in favor of consumers so that the credit offered to them by a business is in the form of a written agreement. The form helps a consumer to compare the cost of cash transaction with a credit transaction.
Sample Truth in Lending Disclosure Statement Form:
Person preparing the form: ________________
Date of preparing the form: ____________
Applicant details:
Name: _______________
Address: _____________________________________
Application number: ___________
Credit details:
Total credit amount: _______________
Annual rate of interest: ____________
Finance charge: _______________
Total amount to be paid: ______________
Payment schedule:
Number of payments to be made: ___________________
Amount of each payment: ___________________
Payment due date: ___________
Insurance type required to obtain credit: _________________
Charges for late payment: ______________
Late payment charge percentage: __________
Early repayment condition:
_______________________
Both the parties have acknowledged receiving the disclosure form by putting their signature below:
___________________________ Dated: ___________________
Signature of the applicant
_____________________ Dated: ___________
Signature of the lender
Category: Statement Forms
