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Can you summarize WARC 63.14.090?
Retail installment sales of goods and services. > Retail installment contracts, retail charge agreements, and lender credit card agreementsDelinquency or collection chargesAttorney's fees, court costsOther provisions not inconsistent with chapter are permissible.
Short Summary
This legal document governs the collection of delinquency or collection charges, including attorney’s fees and court costs, for retail installment contracts, retail charge agreements, and lender credit card agreements. The charges must be reasonable and can only be collected if the contract, charge agreement, or credit card agreement allows for it. Attorney’s fees can only be recovered if the collection is referred to an attorney who is not a salaried employee of the holder. The document also allows for other provisions in the contracts that are not inconsistent with the purposes of the chapter. Additionally, it specifies the maximum delinquency charges for late payments of retail charge agreements or lender credit card agreements. However, these charges do not apply if the payment is more than thirty days overdue.
Whom does it apply to?
Holders of retail installment contracts, retail charge agreements, and lender credit card agreements
What does it govern?
Retail installment contracts, retail charge agreements, and lender credit card agreements
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Washington