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10VAC5-200-33. Extensive re payment plans.
A. An eligible borrower may elect to pay an outstanding payday loan from any http://title-max.com/installment-loans-hi licensee by means of an extended payment plan in any rolling 12-month period. a debtor shall never be qualified to obtain a protracted re re re payment plan in the event that debtor obtained a protracted repayment plan inside the preceding one year.
B. a borrower may come right into a payment that is extended at any moment on or following the date financing is manufactured through the date that the mortgage flow from to be paid back. a debtor shall never be allowed to settle a delinquent cash advance in the form of a payment plan that is extended. A licensee may voluntarily accept payments from a borrower in accordance with subsection H of 10VAC5-200-70 if a loan is past due and a borrower cannot obtain an extended payment plan.
1. If an qualified debtor elects a protracted repayment plan, a licensee shall enable the debtor to settle the quantity owed in at the least four equal installments over a phrase of at the least 60 times. The buck number of each installment will be the exact same in addition to installment repayment dates will be spread away evenly within the term for the payment that is extended ( e.g., if the word is 60 times and you will find four installments, an installment will be due any 15 times).