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Business Monthly Method of Payment

Can a business make monthly automatic debit compulsory for payment of their product or service without offering another method of payment to the consumer?

Randy Carey

If it does not involve an extension of credit, yes.


John Burnett

If the business is providing a single product or a one-time service and allowing the consumer to pay for it over time, that's an extension of credit. But a gym that accepts monthly membership fees is generally not extending credit.

First published on 02/09/2015

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