56:11-9 - Liability of creditor - New Jersey Statutes

56:11-9.  Liability of creditor
    The liability of a creditor under this act is in lieu of, and not in addition to, the creditor's liability under the Federal Fair Credit Billing Act.  An action brought by a consumer with respect to a violation of this act may not be maintained pursuant to this act if a final judgment has been rendered for or against that consumer with respect to the same violation pursuant to the Federal Fair Credit Billing Act.  An action brought by a consumer with respect to a violation of this act shall be abated upon motion by  the creditor if an action, with respect to the same conduct, is pending before  any court pursuant to the Federal Fair Credit Billing Act.  If a final judgment  has been rendered in favor of a consumer pursuant to this act and thereafter a  final judgment with respect to the same conduct is rendered in favor of the  same consumer pursuant to the Federal Fair Credit Billing Act, a creditor  liable under both judgments has a cause of action against the consumer for  appropriate relief to the extent necessary to avoid double liability with  respect to the same conduct.

     L.1975, c. 94, s. 5, eff. May 14, 1975.