(1) Loans will probably be repayable in considerably equal and consecutive equal payments of principal and interest combined, except that the very first installment duration may meet or exceed a month by less than fifteen times, therefore the very very first installment re re payment amount can be bigger than the rest of the re payments because of the level of interest charged for the additional times; and offered further that month-to-month installment payment dates can be omitted to allow for borrowers with regular earnings.
Re re Payments are used towards the combined total of major and precomputed interest until maturity associated with the loan
(2) A licensee may charge interest following the initial or deferred maturity of a precomputed loan at the price or prices supplied in division (A) with this part on all unpaid principal balances for the time outstanding. (3) When any loan agreement is compensated in complete by money, renewal, refinancing, or even a loan that is new a month or even more prior to the last installment deadline, the licensee shall refund, or credit the debtor with, the sum total of this relevant charges for all fully unexpired installment durations, as originally scheduled or as deferred, that follow a single day of prepayment. […]