Truth in Lending: 10.6.2.1 Basic Requirements
To exercise either the basic right or the extended right, the first step in the rescission process is for the consumer to send the notice informing the creditor that he or she is electing to cancel. The consumer must exercise the right in writing, either by notifying the creditor of the cancellation by mail, telegram, or other means.904 A rescission notice sent by the consumer’s attorney is effective.905