25A-44. Remedies and penalties.
In addition to remedies hereinbefore provided, the following remedies shall apply to consumer credit sales:
(1) In the event that a consumer credit sale contract requires the payment of a finance charge not more than two times in excess of that permitted by this Chapter, the seller or an assignee of the seller shall not be permitted to recover any finance charge under that contract and, in addition, the seller shall be liable to the buyer in an amount that is two times the amount of any finance charge that has been received by the seller, plus reasonable attorney's fees incurred by the buyer as determined by the court. However, if the requirement of an excess charge results from an accidental or good faith error, the seller shall be liable only for the amount by which the finance charge exceeds the rates permitted by this Chapter.
(2) In the event that a consumer credit sale contract requires the payment of a finance charge more than two times that permitted by this Chapter, the contract shall be void. The buyer may, at his option, retain without any liability any goods delivered under such a contract and the seller or an assignee of the rights shall not be entitled to recover anything under such contract.
(3) In the event the seller or an assignee of the seller (i) shall fail to make any rebate required by G.S. 25A-32 or G.S. 25A-36, (ii) shall charge and receive fees or charges in excess of those specifically authorized by this Chapter, or (iii) shall charge and receive sums not authorized by this Chapter, the buyer shall be entitled to demand and receive the rebate due and excessive or unauthorized charges. Ten days after receiving written request therefor, the seller shall be liable to the buyer for an amount equal to three times the sum of any rebate due and all improper charges which have not been rebated or refunded within the 10-day period.
(4) The knowing and willful violation of any provision of this Chapter shall constitute an unfair trade practice under G.S. 75-1.1.
(5) Any buyer injured by any violation of G.S. 25A-2(e) may bring an action for recovery of damages, including reasonable attorney's fees. (1971, c. 796, s. 1; 1983, c. 686, s. 4.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 25A - Retail Installment Sales Act
§ 25A-2 - "Consumer credit sale" defined.
§ 25A-3 - "Payable in installments" defined.
§ 25A-7 - "Cash price" defined.
§ 25A-8 - "Finance charge" defined.
§ 25A-9 - "Amount financed" defined.
§ 25A-10 - "Official fees" defined.
§ 25A-11 - "Revolving charge account contract" defined.
§ 25A-12 - "Consumer credit installment sale contract" defined.
§ 25A-13 - "Consumer Credit Protection Act" defined.
§ 25A-14 - Finance charge rates and service charge for revolving charge account contracts.
§ 25A-15 - Finance charge rates for consumer credit installment sale contracts.
§ 25A-16 - Transfer of equity.
§ 25A-17 - Additional charges for insurance.
§ 25A-18 - Confession of judgment.
§ 25A-20 - Disclaimer of warranty.
§ 25A-22 - Receipts for payments; return of title documents upon full payment.
§ 25A-23 - Collateral taken by the seller.
§ 25A-24 - Identification of instruments of indebtedness.
§ 25A-25 - Preservation of consumers' claims and defenses.
§ 25A-26 - Substitution of collateral.
§ 25A-27 - Application of payments.
§ 25A-28 - Form of consumer credit installment sale contract.
§ 25A-31 - Consolidation and refinancing.
§ 25A-32 - Rebates on prepayment.
§ 25A-35 - Statement of account.
§ 25A-36 - Certificates of insurance and rebates.
§ 25A-38 - "Home-solicitation sale" defined.
§ 25A-39 - Buyer's right to cancel.
§ 25A-40 - Form of agreement or offer; statement of buyer's rights.
§ 25A-41 - Restoration of down payment; retention of goods.