NY Pers Prop L § 409 (2021)
2021 New York Laws PEP - Personal Property Article 10 - Retail Instalment Sales Act 409 - Refinancing.

§  409.  Refinancing. 1. The holder of a retail instalment contract or   obligation or note may,  upon  agreement  with  the  buyer,  extend  the   scheduled  due date or defer the scheduled payment of all or of any part   of any instalment or instalments payable thereunder. The  agreement  for   such extension or deferment must be in writing and signed by the parties   thereto.  The  holder  may  charge  and  contract  for the payment of an   extension or deferral charge by the buyer and collect  and  receive  the   same,  at  the  rate  or  rates agreed to by holder and the buyer on the   amount of the instalment or instalments, or part  thereof,  extended  or   deferred for the period of extension or deferral.  Such period shall not   exceed  the  period  from  the  date  when  such  extended  or  deferred   instalment or instalments, or part thereof, would have been  payable  in   the  absence  of  such  extension  or  deferral,  to  the date when such   instalment or instalments, or part thereof, are made payable  under  the   agreement of extension or deferment; except that a minimum charge of one   dollar  for  the period of extension or deferral may be made in any case   where the extension or deferral charge,  when  computed  at  such  rate,   amounts to less than one dollar. Such agreement may also provide for the   payment  by  the  buyer  of  the  additional  cost  to the holder of the   contract or obligation or note of  premiums  for  continuing  in  force,   until  the  end  of  such period of extension or deferral, any insurance   coverages provided for in the contract or  obligation,  subject  to  the   provisions of subdivision five of section four hundred two.2.  The  holder  of a retail instalment contract or obligation or note   may, upon agreement in writing with the buyer, refinance the payment  of   the  unpaid  time  balance  of  the  contract  or  obligation or note by   providing for a new schedule of  instalment  payments.  The  holder  may   charge  and  contract for the payment of a refinance charge by the buyer   and collect and receive the same, but such refinance charge (1) shall be   based upon the amount refinanced, plus any additional cost of  insurance   and  of  official fees incident to such refinancing, after the deduction   of a refund credit in an amount equal to that to which the  buyer  would   have been entitled under section four hundred eight if he had prepaid in   full  his  obligations  under the contract or obligation or note, but in   computing such refund credit there shall  not  be  allowed  the  minimum   earned  credit service charge as authorized by such section, and (2) may   not exceed the rate of credit service charge provided under section four   hundred four of this chapter. Such agreement for  refinancing  may  also   provide  for  the  payment  by  the  buyer of the additional cost to the   holder of the contract or obligation or note of premiums for  continuing   in  force,  until  the maturity of the contract or obligation or note as   refinanced, any insurance coverages provided for therein, subject to the   provisions of subdivision five of  section  four  hundred  two  of  this   chapter. The refinancing agreement shall set forth all items required to   be  disclosed by the act of congress entitled "Truth in Lending Act" and   the regulations thereunder, as such act and regulations may from time to   time be amended.