RCW 63.14.156
Extension or deferment of payments—Agreement, charges.
The holder of a retail installment contract may, upon agreement with the buyer, extend the scheduled due date or defer a scheduled payment of all or of any part of any installment or installments payable thereunder. No charge shall be made for any such extension or deferment unless a written acknowledgment of such extension or deferment is sent or delivered to the buyer. The holder may charge and contract for the payment of an extension or deferral charge by the buyer and collect and receive the same, but such charge may not exceed those permitted by *RCW 63.14.130 (a), (b), or (c) on the amount of the installment or installments, or part thereof, extended or deferred for the period of extension or deferral. Such period shall not exceed the period from the date when such extended or deferred installment or installments, or part thereof, would have been payable in the absence of such extension or deferral, to the date when such installment or installments, or part thereof, are made payable under the agreement of extension or deferment; except that a minimum charge of one dollar for the period of extension or deferral may be made in any case where the extension or deferral charge, when computed at such rate, amounts to less than one dollar. Such agreement may also provide for the payment by the buyer of the additional cost to the holder of the contract of premiums for continuing in force, until the end of such period of extension or deferral, any insurance coverages provided for in the contract, subject to the provisions of RCW 63.14.140.
[ 1967 c 234 § 13.]
NOTES:
*Reviser's note: The reference to RCW 63.14.130 (a), (b), or (c) is erroneous. RCW 63.14.130(1) (a) or (b) is apparently intended. Subsequently, RCW 63.14.130 was amended by 1992 c 193 § 2, changing the subsection numbering.
Structure Revised Code of Washington
Chapter 63.14 - Retail Installment Sales of Goods and Services.
63.14.030 - Retail installment contracts—Delivery to buyer of copy—Acknowledgment of delivery.
63.14.040 - Retail installment contracts—Contents.
63.14.043 - Retail installment contracts—Purchase of motor vehicle—Secondary products.
63.14.060 - Retail installment contracts—Mail orders based on catalog or other printed solicitation.
63.14.110 - Consolidation of subsequent purchases with previous contract.
63.14.123 - Restrictions on electronically printed credit and debit card receipts.
63.14.125 - Lender credit card agreements—Security interests prohibited.
63.14.127 - Retail installment contracts—Dog or cat as security interest.
63.14.136 - Retail installment transaction—Unconscionable—Judicial action.
63.14.145 - Retail installment contracts and charge agreements—Sale, transfer, or assignment.
63.14.152 - Declaratory judgment action to establish if service charge is excessive.
63.14.154 - Cancellation of transaction by buyer—Procedure.
63.14.156 - Extension or deferment of payments—Agreement, charges.
63.14.158 - Refinancing agreements—Costs—Contents.
63.14.159 - New payment schedule—When authorized.
63.14.160 - Conduct or agreement of buyer does not waive remedies.
63.14.170 - Violations—Penalties.
63.14.175 - Violations—Remedies.
63.14.190 - Restraint of violations.
63.14.200 - Assurance of discontinuance of unlawful practices.
63.14.210 - Violation of order or injunction—Penalty.
63.14.903 - Application, saving—1981 c 77.
63.14.910 - Saving—1963 c 236.
63.14.920 - Effective date—1963 c 236.
63.14.921 - Effective date—Saving—1967 c 234.
63.14.922 - Effective date—1993 sp.s. c 5.
63.14.924 - Application—1995 c 249.