Pennsylvania § 6327 - Refinancing.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 6327 — Refinancing., with citation guidance and answers to common questions.
§ 6327. Refinancing.
(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.
Cross References. Section 6327 is referred to in sections 6352, 6353 of this title.
Frequently Asked Questions About Pennsylvania § 6327
What does Pennsylvania Consolidated Statutes § 6327 cover?
Section 6327 ("Refinancing.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 6327?
A common citation format is "Pennsylvania Consolidated Statutes § 6327" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 6327 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.