Modernizes consumer protections in automobile transactions in Massachusetts.
The bill updates consumer protections in automobile transactions in Massachusetts. It enforces retail installment contracts or lease agreements only for material defaults, such as missed payments or events that substantially impair collateral value. It allows buyers or lessees to cure defaults by paying all due sums within 20 days of the creditor or lessor taking possession of the collateral.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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