Pennsylvania § 6327 Refinancing

Pennsylvania Statutes

§ 6327 — Refinancing

Pennsylvania § 6327

JurisdictionPennsylvania

Title 12COMMERCE AND TRADE

PartPART V

Ch. 63GOODS AND SERVICES INSTALLMENT SALES

Subch.CLOSED-END CREDIT AGREEMENTS

This text of Pennsylvania § 6327 (Refinancing) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

12 Pa. Cons. Stat. § 6327 (2026).

Text

(a)General rule.--Upon agreement in writing with the buyer, the holder of a closed-end credit agreement may refinance the payment of the unpaid time balance of the agreement by providing for a new schedule of installment payments.

(b)Charges.--

(1)The holder may contract for and collect the payment of a refinance charge by the buyer.

(2)A refinance charge shall be based on the amount refinanced and include the following:

(i)The additional cost of insurance and official fees incident to the refinancing.

(ii)The deduction of a refund credit in an amount equal to that to which the buyer would have been entitled under section 6313 (relating to prepayment of obligation) if the buyer had prepaid in full the obligations under the agreement.

(3)A refinance charge may not exceed the ra

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(a) General rule.--Upon agreement in writing with the buyer, the holder of a closed-end credit agreement may refinance the payment of the unpaid time balance of the agreement by providing for a new schedule of installment payments.

(b) Charges.--

(1) The holder may contract for and collect the payment of a refinance charge by the buyer.

(2) A refinance charge shall be based on the amount refinanced and include the following:

(i) The additional cost of insurance and official fees incident to the refinancing.

(ii) The deduction of a refund credit in an amount equal to that to which the buyer would have been entitled under section 6313 (relating to prepayment of obligation) if the buyer had prepaid in full the obligations under the agreement.

(3) A refinance charge may not exceed the rate of finance charges under section 6345 (relating to finance charges).

(4) Subject to section 6342 (relating to insurance), an agreement may provide for payment of the additional cost of or premiums for continuing insurance coverage under the contract until the maturity of the contract.

(c) Contents of agreement.--The refinancing agreement shall set forth all of the following:

(1) The amount of the unpaid time balance to be refinanced.

(2) The amount of a refund credit.

(3) The amount to be refinanced after the deduction of the refund credit.

(4) The amount of the finance charge under the refinancing agreement.

(5) The additional cost of insurance and official fees to the buyer.

(6) The new unpaid time balance.

(7) The new schedule of installment payments.

(d) Consolidation of contracts.--If there is a consolidation of two or more agreements, the provisions of section 6329(a) and (b) (relating to add-on sales) apply.