On request by a retail buyer, the holder may agree to one or more amendments to the retail installment contract to:

1. (1) extend or defer the scheduled due date of all or a part of one or more installments; or
2. (2) renew, restate, or reschedule the unpaid balance under the contract.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.