(1) If the court finds a credit bargain extortionate it may reopen the credit agreement so as to do justice between the parties.
(2) In this section and sections 138 to 140,-
(a) "credit agreement" means any agreement (other than an agreement which is an exempt agreement as a result of section 16(6C)) between an individual (the "debtor") and any other person (the "creditor") by which the creditor provides the debtor with credit of any amount, and
(b) "credit bargain"-
(i) where no transaction other than the credit agreement is to be taken into account in computing the total charge for credit, means the credit agreement, or
(ii) where one or more other transactions are to be so taken into account, means the credit agreement and those other transactions, take together.