Tex. Fin. Code Section 347.152
Alternate Method of Amendment of Credit Transaction

(a)

As an alternative to Section 347.151 (Amendment of Credit Transaction) the creditor, on the consumer’s request, may agree to amend an original credit transaction by renewing, restating, or rescheduling the unpaid part of the total of payments.

(b)

The charge for the amended credit transaction is computed on the unpaid balance of the transaction for the term of the transaction at the rate applicable to the transaction.

(c)

For the purpose of Subsection (b), the unpaid balance of an amended credit transaction is computed by:

(1)

adding:

(A)

the unpaid balance of the transaction preceding the amendment;

(B)

the cost of insurance incidental to the amendment;

(C)

additional necessary official fees; and

(D)

each accrued delinquency and collection charge; and

(2)

subtracting from the total under Subdivision (1) the prepayment refund credit required by Section 347.155 (Prepayment).

(d)

The provisions of this chapter relating to minimum charges and acquisition costs do not apply to the computation of the unpaid balance for an amended credit transaction.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 347.152 — Alternate Method of Amendment of Credit Transaction, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­347.­htm#347.­152 (accessed Jun. 5, 2024).

347.001
Legislative Finding 347.002
Definitions 347.003
Bailment or Lease as Credit Transaction 347.004
Compliance with Federal Consumer Credit Protection Act 347.005
Federal Residential Mortgage Loans Programs 347.006
Waiver Not Valid 347.007
Application of Chapter to Commercial Loans 347.008
Applicability 347.051
Appearance of Credit Document 347.052
Disclosure of Amount of Delinquency Charge 347.053
Provisions Prohibited in Credit Document 347.054
Consumer’s Acknowledgment of Delivery of Credit Document 347.055
Credit Document After Amendment 347.056
Authority of Consumer Credit Commissioner Relating to a Credit Document 347.101
Adjustable Rate 347.102
Requirements for Rate Adjustments 347.103
Rate Adjustment Index Base 347.104
Amount of Rate Adjustment 347.105
Maximum Rate Adjustments 347.106
Mandatory Decrease 347.107
Notice of Rate Adjustment 347.108
Prohibition on Use of Rate Adjustment and Certain Mortgages 347.109
Computation of Finance Charge for Disclosure 347.110
Use of Optional Ceiling 347.151
Amendment of Credit Transaction 347.152
Alternate Method of Amendment of Credit Transaction 347.153
Requirements for Amendment 347.154
Oral Amendment Not Binding 347.155
Prepayment 347.201
Property Insurance 347.202
Statement of Required Insurance 347.203
Consumer’s Failure to Obtain Required Insurance 347.204
Purchase of Additional Insurance After Date of Credit Document 347.205
Statement for Purchase of Optional Insurance 347.206
Requirements for Insurance Charge in Credit Transaction 347.207
Insurance Disclosures in Credit Document 347.208
Creditor May Refuse to Accept Policy 347.209
Creditor’s Duty if Insurance Is Canceled, Adjusted, or Terminated 347.210
Single Interest Policy Prohibited 347.211
Gain or Advantage from Insurance Not Charge 347.251
Financing Insurance 347.252
Payment of Insurance Premiums with Installments 347.253
Adjustment of Amounts Paid to Creditor for Insurance 347.254
Payment of Taxes Through the Creditor 347.255
Adjustment of Amounts Paid to Creditor for Taxes 347.256
Creditor’s Action on Consumer’s Failure to Pay Taxes 347.257
Agreement to Include Taxes in Credit Transaction 347.258
Deposit Amounts Paid for Taxes or Insurance 347.301
Fees for Transactions Without Real Property 347.302
Charge Prohibited 347.307
Charges on Repossession 347.308
Fee for Transfer of Obligor on Debt 347.351
Delinquency Charge on Default 347.352
Acceleration of Debt Maturity 347.353
Computing Amount Owed for Purpose of Acceleration 347.354
Accrual of Interest on Acceleration 347.355
Repossession on Default 347.356
Requirements for Action to Repossess, Foreclose, or Accelerate Payment of Entire Debt 347.357
Disposal of Insurance and Tax Escrow Account on Default 347.401
Priority of Security Interest for Unpaid Rental of Real Property 347.402
Possessory Lien 347.403
Amounts that May Be Recovered by Real Property Owner 347.404
Liability of Real Property Owner for Refusal to Allow Creditor to Repossess Manufactured Home 347.451
Registration of Certain Creditors 347.452
Acquisition and Transfer of Credit Transaction or Balance 347.453
Effect of Disclosure by One of Several Creditors 347.454
Disclosure if More than One Consumer 347.455
Real Property in Credit Transaction 347.501
Creditor’s Liability Related to Deposit 347.502
Liability for Charge Exceeding Amount Authorized 347.503
Creditor’s Liability for Error in Pay-off Quotation 347.504
Creditor’s Liability for Oral or Unsolicited Written Statement of Amount Owed 347.505
Penalty for Failure to Register 347.506
When Act or Omission Not Violation 347.4515
Residential Mortgage Loan Originator License Required
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 347.152’s source at texas​.gov