We have two products that I want to be sure we are applying SCRA rules correctly - Cash Secured Installment Loan and Cash Secured Revolving Line of Credit
SCRA: once the request has been made for interest rate reduction we need to

* Calculate and refund all interest paid above 6% from date of inception through date account changed to 6%
* Reamortize and modify note to reflect new interest rate of 6% and new payments
* Late payments may be reported to credit reporting agencies
* Cannot close account for default (and use funds securing account for payoff/pay down) without a court order

Are the above statements valid and is there anything else we are missing?
Thank you in advance!

* Calculate and refund all interest paid above 6% from date of inception through date account changed to 6%

What do you mean by "from date of inception"? Inception of what?

date loan originated

Why would you go back to the date of origination? You only go back to the date of entering active service.

thank you - that is clarification I needed