Is there a legal remedy for Texans who are charged an exhorbinant amount (thousands of dollars) for the expiration of a "layaway purchase" agreement's payment period? An "increased" price was initially charged just for selecting the option of purchasing the merchandise via "layaway", yet the entire 10% down payment was kept by the seller at the end of the layaway period (30 days).
April 27, 2012
Frederick Weschenfelder: ...
I'm trying to help one of our clients. Our client wishes to buy a new phone system. They want to finance it with a lease company. If they opt for a 60 lease it drops the monthly payment. If they pay off the loan early will they be penalized by Texas state law? Does it matter if they finance through an in state company or an out of state lease company? I don't want our client to have to pay any penalties if they don't have to. - Thank you