New Hampshire § 358-P-7 - Section 358-P:7 Prohibited Practices.

§ 358-P-7. Section 358-P:7 Prohibited Practices.

I. A rent-to-own agreement shall not contain: (a) A confession of judgment. (b) A negotiable instrument. (c) A security interest or any other claim of a property interest in any property of the consumer. (d) A wage assignment. (e) A waiver by the consumer of claims or defenses. (f) A provision authorizing the rent-to-own dealer or a person acting on the rent-to-own dealer's behalf to enter upon the consumer's premises without permission or to commit any breach of the peace in the repossession of property. (g) A provision requiring the purchase of insurance or liability damage waiver for the property that is the subject of the rent-to-own agreement from the rent-to-own dealer or requiring such purchase from a particular vendor. The rent-to-own dealer may, however, require that the consumer purchase insurance or a liability damage waiver for the rental property from a vendor of the consumer's choosing. (h) A provision requiring the consumer to make a payment in addition to regular rental payments in order to acquire ownership of the rental property, or a provision requiring the consumer to make rental payments totaling more than the dollar amount necessary to acquire ownership as disclosed pursuant to RSA 358-P:4. (i) A provision requiring a late charge or reinstatement fee unless a periodic payment is late more than 5 days on a monthly agreement or more than 2 days on an agreement with periodic payments made more frequently than monthly. (j) A provision for a late charge or reinstatement fee in excess of $5. (k) A provision for more than one late charge or reinstatement fee on any one periodic payment regardless of the period of time during which it remains unpaid. II. No rent-to-own dealer shall collect or attempt to collect a debt in an unfair, deceptive or unreasonable manner as defined in RSA 358-C.