Retail Installment Sales State Law Survey

Summary

This 50-state survey covers state laws and regulations pertaining to retail installment sales. This survey addresses retail installment contracts, including financing, attachment, repossession, and requirements related to telephone and mail-order installment sales, with analysis of essential provisions; service charge refunds from prepayments; acceleration clauses; document length and type size; and required warnings. Highlighted issues include (1) requirements for completed contracts to be provided to buyers/debtors, (2) essential contract provisions, (3) single-document contract requirements, (4) warning statement requirements, (5) warning statement font and/or size requirements, and (6) refund requirements for unearned service charges. The survey also includes a discussion on applicable federal laws and regulations.