Consumer complaint received 2024-10-16
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: Experian Information Solutions Inc. (NC)

I am writing to formally rescind my [ contract/agreement ] for the purchase of the [ XXXX, XXXX, vin number XXXX ], purchased on [ XX/XX/XXXX ] at your [ Dealership Location ]. Under the provisions of relevant consumer protection laws and regulations, including but not limited to the Truth in Lending Act ( TILA ), Federal Trade Commission ( FTC ) regulations, and the Consumer Financial Protection Bureau ( CFPB ) guidelines, I am exercising my right to rescind this contract and request a full refund of any amounts paid, in accordance with my rights under the Truth in Lending Act ( TILA ) ( 15 U.S.C. 1601 ) and related consumer protection statutes. 

After careful review of the loan documents and disclosures provided by your dealership, I have discovered multiple violations of my rights as a consumer. These violations fall under the following federal consumer laws : 1. **Truth in Lending Act ( TILA ) Violations** : Truth and lending disclosure : Annual percentage rate, finance charge ( ( Sum of all charges ) ), amount financed, any down payment with total payments, total interest from apr. ( amount of credit provided on my behalf ( ( open end credit plan ) ). Drive time did not accurately and truthfully follow the ( TILA ) laws. 

Primary tabs ( *definition ) The Truth in Lending Act ( TILA ) is a consumer protection law enacted in XXXX in response to exceedlingy predatory loan practices. Prior to the TILA, lenders would use a variety of terminology and forms of lending that manipulated uninformed borrowers. The TILA changed this by requiring a uniform system of disclosures and terminology to be used for lending like credit cards or mortgages. Creditors were required to disclose details like the annual percentage rate and repayments details in a clear way to borrowers or else the borrower may be able to rescind the debt. TILA also limits the amount of late fees creditors can charge. Overall, the TILA since its signing has been updated to respond to changing lending practices to ensure borrowers clearly understand the terms and conditions they agree to. 




-15 U.S. Code 1601- Congressional findings and declaration of purpose ( a ) Informed use of credit The Congress finds that economic stabilization would be enhanced and the competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the informed use of credit. The informed use of credit results from an awareness of the cost thereof by consumers. It is the purpose of this subchapter to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him and avoid the uninformed use of credit, and to protect the consumer against inaccurate and unfair credit billing and credit card practices. 
( b ) Terms of personal property leases The XXXX also finds that there has been a recent trend toward leasing automobiles and other durable goods for consumer use as an alternative to installment credit sales and that these leases have been offered without adequate cost disclosures. It is the purpose of this subchapter to assure a meaningful disclosure of the terms of leases of personal property for personal, family, or household purposes so as to enable the lessee to compare more readily the various lease terms available to him, limit balloon payments in consumer leasing, enable comparison of lease terms with credit terms where appropriate, and to assure meaningful and accurate disclosures of lease terms in advertisements. 
- 15 U.S.C. 1602 ( g ), ( j ), ( i ), ( k ), ( p ) : Drive time Failed to provide clear and accurate definitions regarding credit terms and conditions at the time of the transaction or beforehand. 

15 U.S code 1602 ( g ) : ( g ) The term creditor refers only to a person who both ( 1 ) regularly extends, whether in connection with loans, sales of property or services, or otherwise, consumer credit which is payable by agreement in more than four installments or for which the payment of a finance charge is or may be required, and ( 2 ) is the person to whom the debt arising from the consumer credit transaction is initially payable on the face of the evidence of indebtedness or, if there is no such evidence of indebtedness, by agreement. Notwithstanding the preceding sentence, in the case of an open-end credit plan involving a credit card, the card issuer and any person who honors the credit card and offers a discount which is a finance charge are creditors. For the purpose of the requirements imposed under part D of this subchapter and sections 1637 ( a ) ( 5 ), 1637 ( a ) ( 6 ), 1637 ( a ) ( 7 ), 1637 ( b ) ( 1 ), 1637 ( b ) ( 2 ), 1637 ( b ) ( 3 ), 1637 ( b ) ( 8 ), and 1637 ( b ) ( 10 ) of this title, the term creditor shall also include card issuers whether or not the amount due is payable by agreement in more than four installments or the payment of a finance charge is or may be required, and the Bureau shall, by regulation, apply these requirements to such card issuers, to the extent appropriate, even though the requirements are by their terms applicable only to creditors offering open-end credit plans. Any person who originates 2 or more mortgages referred to in subsection ( aa ) in any 12-month period or any person who originates 1 or more such mortgages through a mortgage broker shall be considered to be a creditor for purposes of this subchapter. The term creditor includes a private educational lender ( as that term is defined in section 1650 of this title ) for purposes of this subchapter.

In this Violation I am not liable for any payments or finance charges outside of the initial Consumer credit transaction ( CCT ), as to having open end credit! There is no such evidence of indebtedness to ( me ) The contract will be voided and longer service anything. Rescind the agreement/ contract now. 


15 U.S code 1602 ( i ) : ( i ) The adjective consumer, used with reference to a credit transaction, characterizes the transaction as one in which the party to whom credit is offered or extended is a natural person, and the money, property, or services which are the subject of the transaction are primarily for personal, family, or household purposes. 

I need the car to get my siblings to school and be able to go to work and back home. I can not do that in the face of illegal representation and not fully disclosing the information ( TILA ), who has instructed ( XXXX XXXX ) to do so in congress writing. I need the car so I am able to sustain a life of living. 


15 U.S code 1602 ( j ) : ( j ) The terms open end credit plan and open end consumer credit plan mean a plan under which the creditor reasonably contemplates repeated transactions, which prescribes the terms of such transactions, and which provides for a finance charge which may be computed from time to time on the outstanding unpaid balance. A credit plan or open end consumer credit plan which is an open end credit plan or open end consumer credit plan within the meaning of the preceding sentence is an open end credit plan or open end consumer credit plan even if credit information is verified from time to time. 

I have a right to unlimited credit in the case of being denied credit is a false and inaccurate statement under the consumer law writings. As I am not liable for any of the monthly payments, down payments and extra charges that were not clearly and conspicuously disclosed. 


15 U.S code 160XXXX ( k ) : ( k ) The term adequate notice, as used in section XXXX of this title, means a printed notice to a cardholder which sets forth the pertinent facts clearly and conspicuously so that a person against whom it is to operate could reasonably be expected to have noticed it and understood its meaning. Such notice may be given to a cardholder by printing the notice on any credit card, or on each periodic statement of account, issued to the cardholder, or by any other means reasonably assuring the receipt thereof by the cardholder. 


There was never a point in time that drive time informed me on my right to rescind, which is a violation for not disclosing to me my right Clearly and conspicuously to rescind. 


15 U.S code 1602 ( p ) : ( p ) The term unauthorized use, as used in section 1643 of this title, means a use of a credit card by a person other than the cardholder who does not have actual, implied, or apparent authority for such use and from which the cardholder receives no benefit. 

I was violated by ( XXXX XXXX ) in the misuse of my credit report and information which is a violation. I received no benefits from the extra unlawful charges. This misleading information has led me into losing my job and not being able to get my mothers care needed. 

- 15 U.S.C. 1604 ( a ), ( b ) : Violations related to required regulations and guidelines for credit disclosures. They misused my credit which affected me in many statue damages, which damaged my way of living, character and right to obtain more credit. 

- 15 U.S.C. 1604 ( a ) : ( a ) Promulgation, contents, etc., of regulations The Bureau shall prescribe regulations to carry out the purposes of this subchapter. Except with respect to the provisions of section 1639 of this title that apply to a mortgage referred to in section 1602 ( aa ) [ 1 ] of this title, such regulations may contain such additional requirements, classifications, differentiations, or other provisions, and may provide for such adjustments and exceptions for all or any class of transactions, as in the judgment of the Bureau are necessary or proper to effectuate the purposes of this subchapter, to prevent circumvention or evasion thereof, or to facilitate compliance therewith. 

- 15 U.S.C. 1604 ( b ) : ( b ) Model disclosure forms and clauses ; publication, criteria, compliance, etc. 
The Bureau shall publish a single, integrated disclosure for mortgage loan transactions ( including real estate settlement cost statements ) which includes the disclosure requirements of this subchapter in conjunction with the disclosure requirements of the Real Estate Settlement Procedures Act of XXXX [ 12 U.S.C. 2601 et seq. ] that, taken together, may apply to a transaction that is subject to both or either provisions of law. The purpose of such model disclosure shall be to facilitate compliance with the disclosure requirements of this subchapter and the Real Estate Settlement Procedures Act of XXXX, and to aid the borrower or lessee in understanding the transaction by utilizing readily understandable language to simplify the technical nature of the disclosures. In devising such forms, the Bureau shall consider the use by creditors or lessors of data processing or similar automated equipment. Nothing in this subchapter may be construed to require a creditor or lessor to use any such model form or clause prescribed by the Bureau under this section. A creditor or lessor shall be deemed to be in compliance with the disclosure provisions of this subchapter with respect to other than numerical disclosures if the creditor or lessor ( 1 ) uses any appropriate model form or clause as published by the Bureau, or ( 2 ) uses any such model form or clause and changes it by ( A ) deleting any information which is not required by this subchapter, or ( B ) rearranging the format, if in making such deletion or rearranging the format, the creditor or lessor does not affect the substance, clarity, or meaningful sequence of the disclosure. 
In accordance with the consumer law i am revoking all of my signatures from ( XXXX XXXX ) and all contracts that ( XXXX XXXX ) illegally obtained and distributed to other furnishers. 

- 15 U.S.C. 1605 ( a ) ( 1 ) - ( 6 ), ( c ), ( d ) ( 1 ) - ( 3 ), ( e ) ( 1 ) - ( 6 ) : Improper disclosure of the finance charge, amount financed, and the annual percentage rate ( APR ). In the documents attached to this letter ( Retail installment contract ) It shows extra charges outside of the finance charge which ( CLEARLY STATES ) in title above this statement. I will need full compensation back for all misleading advertisements presented illegally as for non accurate disclosures of documents to be terminated immediately. 


( a ) Finance charge defined Except as otherwise provided in this section, the amount of the finance charge in connection with any consumer credit transaction shall be determined as the sum of all charges, payable directly or indirectly by the person to whom the credit is extended, and imposed directly or indirectly by the creditor as an incident to the extension of credit. The finance charge does not include charges of a type payable in a comparable cash transaction. The finance charge shall not include fees and amounts imposed by third party closing agents ( including settlement agents ( car dealership ), attorneys, and escrow and title companies ) if the creditor does not require the imposition of the charges or the services provided and does not retain the charges. Examples of charges which are included in the finance charge include any of the following types of charges which are applicable : ( XXXX ) Interest, time price differential, and any amount payable under a point, discount, or other system or additional charges. 
* XXXX, monthly payments ( XXXX ) Service or carrying charge. 


( XXXX ) Loan fee, finders fee, or similar charge. 


( XXXX ) Fee for an investigation or credit report. 


( 5 ) Premium or other charge for any guarantee or insurance protecting the creditor against the obligors default or other credit loss. 




( XXXX ) Borrower-paid mortgage broker fees, including fees paid directly to the broker or the lender ( for delivery to the broker ) whether such fees are paid in cash or financed. ( extra fees onto of car loan- apart of finance charged ) ( finaced to me on my behalf on the finance charged means it was paid off full. ) - 15 U.S.C. 1605 ( c ) : ( c ) Property damage and liability insurance premiums included in finance charge Charges or premiums for insurance, written in connection with any consumer credit transaction, against loss of or damage to property or against liability arising out of the ownership or use of property, shall be included in the finance charge unless a clear and specific statement in writing is furnished by the creditor to the person to whom the credit is extended, setting forth the cost of the insurance if obtained from or through the creditor, and stating that the person to whom the credit is extended may choose the person through which the insurance is to be obtained. 


- 15 U.S.C. 1605 ( d ) : ( d ) Items exempted from computation of finance charge in all credit transactions If any of the following items is itemized and disclosed in accordance with the regulations of the Bureau in connection with any transaction, then the creditor need not include that item in the computation of the finance charge with respect to that transaction : ( XXXX ) Fees and charges prescribed by law which actually are or will be paid to public officials for determining the existence of or for perfecting or releasing or satisfying any security related to the credit transaction. 


( XXXX ) The premium payable for any insurance in lieu of perfecting any security interest otherwise required by the creditor in connection with the transaction, if the premium does not exceed the fees and charges described in paragraph ( XXXX ) which would otherwise be payable. 


( XXXX ) Any tax levied on security instruments or on documents evidencing indebtedness if the payment of such taxes is a precondition for recording the instrument securing the evidence of indebtedness. 


- 15 U.S.C. 1605 ( e ) : ( e ) Items exempted from computation of finance charge in extensions of credit secured by an interest in real property The following items, when charged in connection with any extension of credit secured by an interest in real property, shall not be included in the computation of the finance charge with respect to that transaction : ( 1 ) Fees or premiums for title examination, title insurance, or similar purposes.

( 2 ) Fees for preparation of loan-related documents.

( 3 ) Escrows for future payments of taxes and insurance.

( 4 ) Fees for notarizing deeds and other documents.

( 5 ) Appraisal fees, including fees related to any pest infestation or flood hazard inspections conducted prior to closing.

( 6 ) Credit reports. 




- 15 U.S.C. 1606 ( a ) ( 1 ) ( A ) ( B ) ( 2 ), ( b ), ( e ) : Violations in the calculation and disclosure of the APR and other credit terms.

15 U.S. Code 1606 - Determination of annual percentage rate ( a ) Annual percentage rate defined The annual percentage rate applicable to any extension of consumer credit shall be determined, in accordance with the regulations of the Bureau, ( 1 ) in the case of any extension of credit other than under an open end credit plan, as ( A ) that nominal annual percentage rate which will yield a sum equal to the amount of the finance charge when it is applied to the unpaid balances of the amount financed, calculated according to the actuarial method of allocating payments made on a debt between the amount financed and the amount of the finance charge, pursuant to which a payment is applied first to the accumulated finance charge and the balance is applied to the unpaid amount financed; or ( B ) the rate determined by any method prescribed by the Bureau as a method which materially simplifies computation while retaining reasonable accuracy as compared with the rate determined under subparagraph ( A ). [ 1 ] ( 2 ) in the case of any extension of credit under an open end credit plan, as the quotient ( expressed as a percentage ) of the total finance charge for the period to which it relates divided by the amount upon which the finance charge for that period is based, multiplied by the number of such periods in a year. 


( b ) Computation of rate of finance charges for balances within a specified range Where a creditor imposes the same finance charge for balances within a specified range, the annual percentage rate shall be computed on the median balance within the range, except that if the Bureau determines that a rate so computed would not be meaningful, or would be materially misleading, the annual percentage rate shall be computed on such other basis as the Bureau may be regulation require ( e ) Authorization of tolerances in determining annual percentage rates In the case of creditors determining the annual percentage rate in a manner other than as described in subsection ( d ), the Bureau may authorize other reasonable tolerances. 


- 15 U.S.C. 1611 ( 1 ) - ( 3 ) : Drive time is held under the Criminal liability for willful and knowing violations of TILA provisions. 

15 U.S. Code 1611- Criminal liability for willful and knowing violation Whoever willfully and knowingly ( 1 ) gives false or inaccurate information or fails to provide information which he is required to disclose under the provisions of this subchapter or any regulation issued thereunder, ( 2 ) uses any chart or table authorized by the Bureau under section 1606 of this title in such a manner as to consistently understate the annual percentage rate determined under section 1606 ( a ) ( 1 ) ( A ) of this title, or ( 3 ) otherwise fails to comply with any requirement imposed under this subchapter, shall be fined not more than {$5000.00} or imprisoned not more than one year, or both. 

- 15 U.S.C. 1640 ( a ) ( 1 ) - ( 4 ), ( d ) - ( f ) : Civil liability for TILA violations, including statutory damages and legal remedies available to me as a consumer. My credit, person of self, natural character was damaged due to the fact of not being informed clearly and conspicuously on my rights and the finance charge break down. I have lost my daughter and jobs with my truck being repossessed illegally which is a breach of peace a federal law. I have been struggling to get to work do to this outcome of illegal activities. 

15 U.S. Code 1640 - Civil liability ( a ) Individual or class action for damages ; amount of award ; factors determining amount of award Except as otherwise provided in this section, any creditor who fails to comply with any requirement imposed under this part, including any requirement under section XXXX of this title, subsection ( f ) or ( g ) of section XXXX of this title, or part D or XXXX of this subchapter with respect to any person is liable to such person in an amount equal to the sum of ( XXXX ) any actual damage sustained by such person as a result of the failure ; ( XXXX ) ( A ) ( i ) in the case of an individual action twice the amount of any finance charge in connection with the transaction, ( ii ) in the case of an individual action relating to a consumer lease under part E of this subchapter, 25 per centum of the total amount of monthly payments under the lease, except that the liability under this subparagraph shall not be less than {$200.00} nor greater than {$2000.00}, ( iii ) in the case of an individual action relating to an open end consumer credit plan that is not secured by real property or a dwelling, twice the amount of any finance charge in connection with the transaction, with a minimum of {$500.00} and a maximum of {$5000.00}, or such higher amount as may be appropriate in the case of an established pattern or practice of such failures ; [ 1 ] or ( iv ) in the case of an individual action relating to a credit transaction not under an open end credit plan that is secured by real property or a dwelling, not less than {$400.00} or greater than {$4000.00} ; or ( B ) in the case of a class action, such amount as the court may allow, except that as to each member of the class no minimum recovery shall be applicable, and the total recovery under this subparagraph in any class action or series of class actions arising out of the same failure to comply by the same creditor shall not be more than the lesser of {>= $1,000,000} or 1 per centum of the net worth of the creditor ; ( 3 ) in the case of any successful action to enforce the foregoing liability or in any action in which a person is determined to have a right of rescission under section 1635 or 1638 ( e ) ( 7 ) of this title, the costs of the action, together with a reasonable attorneys fee as determined by the court ; and ( 4 ) in the case of a failure to comply with any requirement under section 1639 of this title, paragraph ( 1 ) or ( 2 ) of section 1639b ( c ) of this title, or section 1639c ( a ) of this title, an amount equal to the sum of all finance charges and fees paid by the consumer, unless the creditor demonstrates that the failure to comply is not material.In determining the amount of award in any class action, the court shall consider, among other relevant factors, the amount of any actual damages awarded, the frequency and persistence of failures of compliance by the creditor, the resources of the creditor, the number of persons adversely affected, and the extent to which the creditors failure of compliance was intentional. In connection with the disclosures referred to in subsections ( a ) and ( b ) of section 1637 of this title, a creditor shall have a liability determined under paragraph ( 2 ) only for failing to comply with the requirements of section 1635 of this title, 1637 ( a ) [ 2 ] of this title, or any of paragraphs ( 4 ) through ( 13 ) of section 1637 ( b ) of this title, or for failing to comply with disclosure requirements under State law for any term or item that the Bureau has determined to be substantially the same in meaning under section 1610 ( a ) ( 2 ) of this title as any of the terms or items referred to in section 1637 ( a ) of this title, or any of paragraphs ( 4 ) through ( 13 ) of section 1637 ( b ) of this title. In connection with the disclosures referred to in subsection ( c ) or ( d ) of section 1637 of this title, a card issuer shall have a liability under this section only to a cardholder who pays a fee described in section 1637 ( c ) ( 1 ) ( A ) ( ii ) ( I ) or section 1637 ( c ) ( 4 ) ( A ) ( i ) of this title or who uses the credit card or charge card. In connection with the disclosures referred to in section 1638 of this title, a creditor shall have a liability determined under paragraph ( 2 ) only for failing to comply with the requirements of section 1635 of this title, of paragraph ( 2 ) ( insofar as it requires a disclosure of the amount financed ), ( 3 ), ( 4 ), ( 5 ), ( 6 ), or ( 9 ) of section 1638 ( a ) of this title, or section 1638 ( b ) ( 2 ) ( C ) ( ii ) of this title, of subparagraphs ( A ), ( B ), ( D ), ( F ), or ( J ) of section 1638 ( e ) ( 2 ) of this title ( for purposes of paragraph ( 2 ) or ( 4 ) of section 1638 ( e ) of this title ), or paragraph ( 4 ) ( C ), ( 6 ), ( 7 ), or ( 8 ) of section 1638 ( e ) of this title, or for failing to comply with disclosure requirements under State law for any term which the Bureau has determined to be substantially the same in meaning under section 1610 ( a ) ( 2 ) of this title as any of the terms referred to in any of those paragraphs of section 1638 ( a ) of this title or section 1638 ( b ) ( 2 ) ( C ) ( ii ) of this title. With respect to any failure to make disclosures required under this part or part D or E of this subchapter, liability shall be imposed only upon the creditor required to make disclosure, except as provided in section 1641 of this title. 


( d ) Liability in transaction or lease involving multiple obligors When there are multiple obligors in a consumer credit transaction or consumer lease, there shall be no more than one recovery of damages under subsection ( a ) ( 2 ) for a violation of this subchapter. 
( e ) Jurisdiction of courts ; limitations on actions ; State attorney general enforcement Except as provided in the subsequent sentence, any action under this section may be brought in any United States district court, or in any other court of competent jurisdiction, within one year from the date of the occurrence of the violation or, in the case of a violation involving a private education loan ( as that term is defined in section 1650 ( a ) of this title ), 1 year from the date on which the first regular payment of principal is due under the loan. Any action under this section with respect to any violation of section 1639, 1639b, or 1639c of this title may be brought in any United States district court, or in any other court of competent jurisdiction, before the end of the 3-year period beginning on the date of the occurrence of the violation. This subsection does not bar a person from asserting a violation of this subchapter in an action to collect the debt which was brought more than XXXX year from the date of the occurrence of the violation as a matter of defense by recoupment or set-off in such action, except as otherwise provided by State law. An action to enforce a violation of section 1639, 1639b, 1639c, 1639d, 1639e, 1639f, 1639g, or 1639h of this title may also be brought by the appropriate State attorney general in any appropriate United States district court, or any other court of competent jurisdiction, not later than 3 years after the date on which the violation occurs. The State attorney general shall provide prior written notice of any such civil action to the Federal agency responsible for enforcement under section 1607 of this title and shall provide the agency with a copy of the complaint. If prior notice is not feasible, the State attorney general shall provide notice to such agency immediately upon instituting the action. The Federal agency may ( 1 ) intervene in the action ; ( 2 ) upon intervening ( A ) remove the action to the appropriate United States district court, if it was not originally brought there; and ( B ) be heard on all matters arising in the action; and ( XXXX ) file a petition for appeal. 


( f ) Good faith compliance with rule, regulation, or interpretation of Bureau or with interpretation or approval of duly authorized official or employee of Federal Reserve System No provision of this section, section 1607 ( b ) of this title, section 1607 ( c ) of this title, section 1607 ( e ) of this title, or section 1611 of this title imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule, regulation, or interpretation thereof by the Bureau or in conformity with any interpretation or approval by an official or employee of the Federal Reserve System duly authorized by the Bureau to issue such interpretations or approvals under such procedures as the Bureau may prescribe therefor, notwithstanding that after such act or omission has occurred, such rule, regulation, interpretation, or approval is amended, rescinded, or determined by judicial or other authority to be invalid for any reason. 


- 15 U.S.C. 1635 ( a ) - ( g ), ( i ) ( 1 ) ( 3 ) ( 4 ) : Right to rescind based on inadequate or misleading disclosures under TILA, specifically as it pertains to the right of rescission. XXXX XXXX did not clearly or conspicuously detail anything under the ( TILA ) LAW. 


( a ) Disclosure of obligors right to rescind Except as otherwise provided in this section, in the case of any consumer credit transaction ( including opening or increasing the credit limit for an open end credit plan ) in which a security interest, including any such interest arising by operation of law, is or will be retained or acquired in any property which is used as the principal dwelling of the person to whom credit is extended, the obligor shall have the right to rescind the transaction until midnight of the third business day following the consummation of the transaction or the delivery of the information and rescission forms required under this section together with a statement containing the material disclosures required under this subchapter, whichever is later, by notifying the creditor, in accordance with regulations of the Bureau, of his intention to do so. The creditor shall clearly and conspicuously disclose, in accordance with regulations of the Bureau, to any obligor in a transaction subject to this section the rights of the obligor under this section. The creditor shall also provide, in accordance with regulations of the Bureau, appropriate forms for the obligor to exercise his right to rescind any transaction subject to this section. 
( b ) Return of money or property following rescission When an obligor exercises his right to rescind under subsection ( a ), he is not liable for any finance or other charge, and any security interest given by the obligor, including any such interest arising by operation of law, becomes void upon such a rescission. Within 20 days after receipt of a notice of rescission, the creditor shall return to the obligor any money or property given as earnest money, downpayment, or otherwise, and shall take any action necessary or appropriate to reflect the termination of any security interest created under the transaction. If the creditor has delivered any property to the obligor, the obligor may retain possession of it. Upon the performance of the creditors obligations under this section, the obligor shall tender the property to the creditor, except that if return of the property in kind would be impracticable or inequitable, the obligor shall tender its reasonable value. Tender shall be made at the location of the property or at the residence of the obligor, at the option of the obligor. If the creditor does not take possession of the property within 20 days after tender by the obligor, ownership of the property vests in the obligor without obligation on his part to pay for it. The procedures prescribed by this subsection shall apply except when otherwise ordered by a court. 
( c ) Rebuttable presumption of delivery of required disclosures Notwithstanding any rule of evidence, written acknowledgment of receipt of any disclosures required under this subchapter by a person to whom information, forms, and a statement is required to be given pursuant to this section does no more than create a rebuttable presumption of delivery thereof. 
( d ) Modification and waiver of rights The Bureau may, if it finds that such action is necessary in order to permit homeowners to meet bona fide personal financial emergencies, prescribe regulations authorizing the