After filing for bankruptcy, the debtor filed an adversarial complaint in bankruptcy court against Lincoln Finance Company, LLC seeking to rescind a "consumer credit" mortgage loan transaction pursuant to the Truth in Lending Act, and its Massachusetts counterpart, as well as for damages under state law. Upon reading the complaint, the president of Lincoln Finance exclaimed "what the f…! This guy is using the Stevie Wonder and Ray Charles defense without being blind!" Lincoln immediately filed a motion for summary judgment. The bankruptcy court granted Lincoln's motion for summary judgment finding no reason not to enforce the Business Purpose Affidavit. "The debtor is 24 years old; he attends college full time, studying chemistry at Framingham State University. He submitted no evidence that he is impaired in any way. He did not contend that he neither could read nor understand the documents that he signed on March 2, 2010. Additionally, he did not assert that any of the loan documents were difficult to read or illegible," the court said. He simply elected not to read the documents he was signing and initialing. "The debtor attempts to utilize his father's alleged concealment of the purpose of the purpose of the loan to avoid the consequences of his free act of executing the Business Purpose Affidavit and other documents. His assertions are unavailing. The debtor had an opportunity to review the documents and, had he done so, it would have immediately apparent that he was not executing documents that would enable his father to repay money that he owed him."

Lawrence Bautista Yang is a graduate of Georgetown University Law Center and has been in law practice for thirty years. He specializes in bankruptcy, business and civil litigation and has handled more than five thousand successful bankruptcy cases in California. He speaks Mandarin and Fujien and looks forward to discussing your case with you personally. Please call (626) 284-1142 for an appointment at 1000 S Fremont Ave Bldg A-1 Suite 1125 Unit 58 Alhambra, CA 91803.