Tex. Fin. Code § 347.151 · Subchapter D. AMENDMENT OR PREPAYMENT OF CREDIT TRANSACTION
AMENDMENT OF CREDIT TRANSACTION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) On a consumer's request, a creditor may:
(1) extend or defer the scheduled due date of all or part of one or more installments of the credit transaction;
(2) renew, restate, or reschedule the unpaid balance of the transaction; or
(3) increase or reduce the number of installments of the transaction.
(b) A creditor may collect a charge that does not exceed the amount computed by applying the credit transaction's interest rate or time price differential applicable on the date of adjustment to the remaining amount of the unpaid balance, computed under Section 347.155, for the period that the amount is extended or deferred.
(c) The creditor and consumer may agree to an unlimited number of extensions. The period of each extension is the period agreed to by the creditor and consumer.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.347.htm
- Text hash
- sha256 77dc3898e30db6754892aa1bc619d2c2773bbaedb3240b58ff6bdd83622409f9
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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