On June 8, 2007 we signed a 12-month lease with a student housing apartments in Austin, TX. Before we left we (husband and myself, daughter was there to witness) asked the agent if there would be a problem with cancelling the contract if we decide to change our minds. He assured us verbally that since we still need to provide them with financial records (income tax return or check stubs) in order to be approved for the unit. We left there feeling comfortable that we could back out of the contract since we haven't even been approved yet, at least until they have our financial records. In my mind it was not quite a done deal yet. On June 13, 2007 we decided we could not afford the apartment for my daughter and wanted to let the apartment complex know that we were no longer interested. And since we didn't ever provide them with my financial records I figured it wasn't totally a done deal anyway. Her scheduled moved in date was not tlil August 25th, a whole 2 months. So I didn't see a problem. Well, the lady on the phone told me that it was a binding contract and that we can not cancel and we are responsible for 12-months worth of rent! I was apauled. I told her our situation that we cannot afford the complex because my daughters grants were for dormitory housing not apartment housing and that we haven't even supplied them our financial records yet. But to no avail. What rights do I have. What type of records should I start keeping in case it goes to court. Should I send them a registered letter?