1If the home improvement contractor or home improvement finance agency discovers that, as a result of an inadvertent clerical error or some other unintentional mistake the finance charge to the buyer is in excess of the amount permitted, or that any other charges in the contract are excessive, it shall immediately notify the buyer in writing of such overcharge. The overcharge, plus any finance charge that may have been assessed thereon, shall be credited to the account balance or refunded to the buyer, and the buyer shall be notified in writing of any reduction of contractual payments. Contracts paid in full containing excessive charges where were not previously given credit should be corrected by making a refund to the buyer.
