Idaho § 28-46-414 EXTENDED PAYMENT PLANS

Idaho Statutes

§ 28-46-414 — EXTENDED PAYMENT PLANS

Idaho § 28-46-414

Title 28COMMERCIAL TRANSACTIONS

Part 4.PAYDAY LOANS

Ch. 46ADMINISTRATION

This text of Idaho § 28-46-414 (EXTENDED PAYMENT PLANS) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 28-46-414 (2026).

Text

A payday lender shall allow the borrower, upon request, to enter into an extended payment plan that meets the requirements of this section once during any consecutive twelve (12) month period, subject to the following provisions:

(1)A payday lender is not required to enter into an extended payment plan with a borrower more than one (1) time during any consecutive twelve (12) month period.

(2)An extended payment plan shall be in writing and must be executed not later than the day the payday loan is due. The plan shall provide a payment schedule that allows at least four (4) equal payments over a time period of not less than sixty (60) days and shall include the disclosures required under section 28-46-415, Idaho Code.

(3)A borrower’s obligations under an extended payment plan shall be no

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A payday lender shall allow the borrower, upon request, to enter into an extended payment plan that meets the requirements of this section once during any consecutive twelve (12) month period, subject to the following provisions:
(1) A payday lender is not required to enter into an extended payment plan with a borrower more than one (1) time during any consecutive twelve (12) month period.
(2) An extended payment plan shall be in writing and must be executed not later than the day the payday loan is due. The plan shall provide a payment schedule that allows at least four (4) equal payments over a time period of not less than sixty (60) days and shall include the disclosures required under section 28-46-415, Idaho Code.
(3) A borrower’s obligations under an extended payment plan shall be not greater than the amount owed under the terms of the original payday loan.
(4) A payday lender shall not charge interest or additional fees as part of an extended payment plan, except as permitted in section 28-46-413 (6), Idaho Code. If a borrower defaults under the extended payment plan, the payday lender may terminate the extended payment plan and accelerate the requirement to pay the amount owed.
(5) A payday lender shall not initiate collection activities against a borrower for a payday loan that is subject to an extended payment plan so long as the borrower is in compliance with the terms of the extended payment plan.