Milwaukee, WI asked in Banking, Business Law, Consumer Law and Contracts for Illinois

Q: What does the law 15 usc 1662 b translate to? does it mean that I am not required to put a down payment?

1 Lawyer Answer
T. J. Jesky
T. J. Jesky
Answered
  • Business Law Lawyer
  • Chicago, IL
  • Licensed in Illinois

A: Short answer: No. The reg states that no advertisement to aid, promote, or assist directly or indirectly any extension of consumer credit may state that a specified down payment, by the creditor who advertises his services.

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