11-4.3 - When acceleration of payment or repossession of consumer goods not allowed. - Virginia Statutes

§ 11-4.3. When acceleration of payment or repossession of consumer goods notallowed.

Notwithstanding any provisions in a contract, other evidence of indebtednessor security agreement arising from a sale or financing of consumer goods asdefined in § 8.9A-102 of this Code, no acceleration of payment orrepossession on account of late payment or nonpayment of an installment shallbe permitted if payment, together with any late payment penalty permittedunder § 6.1-330.80, is made within ten days of the date on which theinstallment was due.

(1974, c. 572.)