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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) If a buyer owes an unpaid balance to a seller with respect to a consumer credit sale, refinancing, or consolidation, and becomes obligated on another consumer credit sale, refinancing, or consolidation with the same seller, the parties may agree to a consolidation resulting in a single schedule of payments pursuant to either of the following subsections:
(i) The parties may agree to refinance the unpaid balance with respect to the previous sale pursuant to the provisions on refinancing (W.S. 40-14-216) and to consolidate the amount financed resulting from the refinancing by adding it to the amount financed with respect to the subsequent sale. The seller may contract for and receive a credit service charge based on the aggregate amount financed resulting from the consolidation at a rate not exceeding that permitted by the provisions on credit service charge for consumer credit sales (W.S. 40-14-212);
(ii) The parties may agree to consolidate by adding together the unpaid balances with respect to the two (2) sales.
Cite this article: FindLaw.com - Wyoming Statutes Title 40. Trade and Commerce § 40-14-217. Credit service charge on consolidation - last updated January 01, 2024 | https://codes.findlaw.com/wy/title-40-trade-and-commerce/wy-st-sect-40-14-217/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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