N.Y. PEP Law § 504-A

§ 504-a. Interruption or reduction of income in certain instances. 1.\nIf any consumer who has signed a rental-purchase agreement experiences\nan interruption or reduction of twenty-five percent or more of income\ndue to involuntary job loss, involuntary reduced employment, illness,\npregnancy or disability after one-half or more of the total amount of\nthe rental payments necessary to acquire ownership under the agreement\nhas been paid, and such consumer provides to the merchant some evidence\nof the amount and cause of the interruption or reduction of income, the\nmerchant shall reduce the amount of each rental payment by (a) the\npercentage of the reduction in the consumer's income or (b) fifty\npercent, whichever is less, for the period during which the consumer's\nincome is interrupted or reduced.\n 2. If payments are reduced, the total dollar amount of payments\nnecessary to acquire ownership shall not be increased, provided,\nhowever, that the number of payments necessary to acquire ownership may\nbe increased accordingly and the rights and duties of the merchant and\nthe consumer shall not otherwise be affected.\n 3. When the consumer's income is restored, the merchant may increase\nthe amount of rental payments, but in no event shall rental payments\nexceed the originally disclosed amount of rental payments.\n