New Hampshire § 399-A:19 Title Loan Renewals

New Hampshire Statutes

§ 399-A:19 — Title Loan Renewals

New Hampshire § 399-A:19

Title XXXVIPAWNBROKERS AND MONEYLENDERS

Ch. 399-AREGULATION OF SMALL LOANS, TITLE LOANS, AND PAYDAY LOANS

This text of New Hampshire § 399-A:19 (Title Loan Renewals) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 399-A:19 (2026).

Text

I. A title loan shall be for an original term of no more than one month. II. A title loan lender may allow such loan to be renewed no more than 9 additional periods each equal to the original term, provided however, that at each such renewal the borrower shall pay at least 10 percent of the title loan's original principal balance in addition to any finance charge owed, to reduce the principal balance outstanding. No action shall be required of the borrower to renew the loan. III. If the borrower cannot pay this principal reduction at any renewal, the title loan lender shall either:

(a)declare the borrower in default; or (b) allow the loan to be renewed, provided that, in either event, the lender shall reduce the current principal amount of the loan by 10 percent of the original principal

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I. A title loan shall be for an original term of no more than one month.
II. A title loan lender may allow such loan to be renewed no more than 9 additional periods each equal to the original term, provided however, that at each such renewal the borrower shall pay at least 10 percent of the title loan's original principal balance in addition to any finance charge owed, to reduce the principal balance outstanding. No action shall be required of the borrower to renew the loan.
III. If the borrower cannot pay this principal reduction at any renewal, the title loan lender shall either: (a) declare the borrower in default; or (b) allow the loan to be renewed, provided that, in either event, the lender shall reduce the current principal amount of the loan by 10 percent of the original principal amount for the purposes of calculating interest thereafter. This reduction in principal shall continue to be owed by the borrower, but such amount shall not be entitled to accrue interest thereafter. No interest shall accrue on a title loan 60 days after the borrower has been declared in default, unless the borrower cures such default.
IV. No accrued interest shall be capitalized or added to the principal of the title loan at the time of any renewal.