Current through Pa Acts 2024-53, 2024-56 through 2024-92
Section 6328 - New payment schedule(a)Right to new payment schedule.--If a closed-end credit agreement provides for the payment of an installment that ismore than double the amount of the average of the preceding installments, the buyer upon default of this installment shall have an absolute right to obtain a new payment schedule.(b) Payments.--Unless agreed to by the buyer, the periodic payments under the new schedule may not be greater than the average of the preceding installments.Added by P.L. 1081 2013 No. 98, § 4, eff. 11/27/2014.