by Dan Persfull:
Payment deferments are regulated by state laws. What you can or cannot collect should be outlined there.
However if I have paid you X number of dollars that you told me I needed to pay to defer my payment and the payment was not properly deferred and my account is being reported past due I would definitely have a UDAAP claim filed.
by Richard Insley:
An extension agreement is an amendment to the loan contract. Read it carefully and determine what your bank agrees to do when the borrower agrees to pay for an extension. If the current procedure fails to produce the condition both you and the borrower have approved, then the procedure needs to change to whatever it takes to make that happen. As you work through this, it may be necessary to have legal counsel review (and possibly rewrite) the wording of the extension agreement.