Iowa Code 537.5202 – Damages or penalties as setoff to obligation
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 537.5202
- Consumer: means the buyer, lessee, or debtor to whom credit is granted in a consumer credit transaction. See Iowa Code 537.1301
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Damages or penalties to which a consumer is entitled pursuant to this part may be setoff against the consumer’s obligation, and may be raised as a defense to a suit on the obligation without regard to the time limitations prescribed by this part.