Texas § FI.347.151 - AMENDMENT OF CREDIT TRANSACTION
Full text of Texas The Texas Constitution § FI.347.151 — AMENDMENT OF CREDIT TRANSACTION, with citation guidance and answers to common questions.
§ FI.347.151. AMENDMENT OF CREDIT TRANSACTION
AMENDMENT OF CREDIT TRANSACTION. (a) On a consumer's request, a creditor may: (1) extend or defer the scheduled due date of all or part of one or more installments of the credit transaction; (2) renew, restate, or reschedule the unpaid balance of the transaction; or (3) increase or reduce the number of installments of the transaction. (b) A creditor may collect a charge that does not exceed the amount computed by applying the credit transaction's interest rate or time price differential applicable on the date of adjustment to the remaining amount of the unpaid balance, computed under Section 347.155 , for the period that the amount is extended or deferred. (c) The creditor and consumer may agree to an unlimited number of extensions. The period of each extension is the period agreed to by the creditor and consumer. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.347.151
What does The Texas Constitution § FI.347.151 cover?
Section FI.347.151 ("AMENDMENT OF CREDIT TRANSACTION") is part of the The Texas Constitution, the codified statutory law of Texas. 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 Texas § FI.347.151?
A common citation format is "The Texas Constitution § FI.347.151" (Texas). 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 Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.347.151 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas 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 Texas.