Find the right lawyer now

Retail Installment Contract Lawyers

Find a Local Finance Lawyer near You

What are Retail Installment Contracts?

A retail installment contract allows consumers to pay for a product or service over a period of time in fixed monthly installments. There are federal and individual state laws that regulate retail installment contracts.

What Are Examples of Retail Installment Contracts?

Retail installment contracts include: health or country club memberships, cosmetic or elective medical procedures, jewelry purchases, and dating service memberships.

What Makes a Retail Installment Contract Legally Binding?

Generally, for a retail installment contract to be legally binding, the following terms and conditions must be included:

  • Total amount due
  • Interest rate
  • Duration of contract
  • Amount of monthly payment
  • Fees, such as late fees or payoff charges
  • Down payment received
  • Cancellation or refund clauses, if applicable

Do I Need a Lawyer?

If you are a consumer who entered into a retail installment contract which you believe is unfair or illegal, or you are a retailer wishing to draft a retail installment contract, an attorney experienced in consumer credit can review the document and advise you of the laws in your area.

Photo of page author Ken LaMance

, LegalMatch Law Library Managing Editor and Attorney at Law

Last Modified: 08-02-2012 11:20 AM PDT

Law Library Disclaimer
  • No fee to present your case
  • Choose from lawyers in your area
  • A 100% confidential service
What is LegalMatch?

We've helped more than 4 million clients find the right lawyer – for free. Present your case online in minutes. LegalMatch matches you to pre-screened lawyers in your city or county based on the specifics of your case. Within 24 hours experienced local lawyers review it and evaluate if you have a solid case. If so, attorneys respond with an offer to represent you that includes a full attorney profile with details on their fee structure, background, and ratings by other LegalMatch users so you can decide if they're the right lawyer for you.