§ 25A-45 – Conflict with Consumer Credit Protection Act.
25A-45. Conflict with Consumer Credit Protection Act. In all cases of irreconcilable conflict between the provisions of this Chapter and the provisions of the Consumer Credit Protection Act, the provisions of the Consumer Credit Protection Act shall control. (1971, c. 796, s. 3.)
§ 25A-32 – Rebates on prepayment.
25A-32. Rebates on prepayment. Notwithstanding any provision in a consumer credit installment sale contract to the contrary, any buyer may satisfy the debt in full at any time before maturity, and in so satisfying such debt, shall receive a rebate, the amount of which shall be computed under the "rule of 78’s," as follows: "The […]
§ 25A-32.1 – Unearned finance charge credits on prepayment of loans secured by real property and mobile home loans.
25A-32.1. Unearned finance charge credits on prepayment of loans secured by real property and mobile home loans. (a) Notwithstanding any statutory or contractual provision to the contrary, in a consumer credit installment sale contract with an amount financed of five thousand dollars ($5000.00) or more secured by real estate or by a residential manufactured home […]
§ 25A-33 – Terms of payments.
25A-33. Terms of payments. A consumer credit installment sale contract shall provide for complete payment of all charges due under the contract, including the amount financed, the finance charge, and additional insurance charges, if any, within a period from the time of the sale of (1) Forty-two months, if the amount financed is less than […]
§ 25A-34 – Balloon payments.
25A-34. Balloon payments. With respect to a consumer credit sale, other than one pursuant to a revolving charge account, no scheduled payment may be more than ten percent (10%) larger than the average of earlier scheduled payments, except that the final payment may be twenty-five percent (25%) larger than the average of earlier scheduled payments. […]
§ 25A-22 – Receipts for payments; return of title documents upon full payment.
25A-22. Receipts for payments; return of title documents upon full payment. (a) When any payment is made under any consumer credit sale transaction, the person receiving such payment shall, if the payment is made in cash, give the buyer a written receipt therefor. If the buyer specifies that the payment is made on one of […]
§ 25A-23 – Collateral taken by the seller.
25A-23. Collateral taken by the seller. (a) The seller in a consumer credit sale may take a security interest only in the following property of the buyer to secure the debt arising from the sale: (1) The property sold, (2) Property previously sold by the seller to the buyer and in which the seller has […]
§ 25A-24 – Identification of instruments of indebtedness.
25A-24. Identification of instruments of indebtedness. With respect to consumer credit sales, each instrument of indebtedness shall be identified on the face of the instrument as a consumer credit document, or otherwise clearly indicate on its face that it arises out of a consumer credit sale, provided, that such designation of an instrument of indebtedness […]
§ 25A-25 – Preservation of consumers' claims and defenses.
25A-25. Preservation of consumers’ claims and defenses. (a) In a consumer credit sale, a buyer may assert against the seller, assignee of the seller, or other holder of the instrument or instruments of indebtedness, any claims or defenses available against the original seller, and the buyer may not waive the right to assert these claims […]
§ 25A-26 – Substitution of collateral.
25A-26. Substitution of collateral. Subject to the provisions of G.S. 25A-23, if all involved parties agree, there may be a substitution of collateral under a security instrument in a consumer credit sale. For such substitution, the seller may impose a fee not to exceed ten percent (10%) of the unpaid balance of the debt or […]