Tex. Finance Code § 347.151
This is the official text of Tex. Finance Code § 347.151, part of Texas’s Finance Code — regulates banks and other financial institutions.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 347.151. AMENDMENT OF CREDIT TRANSACTION.
Official statutory text
(a) On a consumer's request, a creditor may:
(1) extend or defer the scheduled due date of all or part of one or more installments of the credit transaction;
(2) renew, restate, or reschedule the unpaid balance of the transaction; or
(3) increase or reduce the number of installments of the transaction.
(b) A creditor may collect a charge that does not exceed the amount computed by applying the credit transaction's interest rate or time price differential applicable on the date of adjustment to the remaining amount of the unpaid balance, computed under Section 347.155, for the period that the amount is extended or deferred.
(c) The creditor and consumer may agree to an unlimited number of extensions. The period of each extension is the period agreed to by the creditor and consumer.
(1) extend or defer the scheduled due date of all or part of one or more installments of the credit transaction;
(2) renew, restate, or reschedule the unpaid balance of the transaction; or
(3) increase or reduce the number of installments of the transaction.
(b) A creditor may collect a charge that does not exceed the amount computed by applying the credit transaction's interest rate or time price differential applicable on the date of adjustment to the remaining amount of the unpaid balance, computed under Section 347.155, for the period that the amount is extended or deferred.
(c) The creditor and consumer may agree to an unlimited number of extensions. The period of each extension is the period agreed to by the creditor and consumer.
Status: in_force · Read it on the official government site
Need a lawyer in Texas?
Find a Texas lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.