(a) In this section, “consumer transaction” means a transaction in which:
(1) Credit is extended by one regularly engaged in the business of extending credit in credit transactions of the same type;
(2) The creditor acquires a security interest in tangible personal property of the debtor; and
(3) The debt is incurred by an individual primarily for personal, family, or household purposes.
(b) In a consumer transaction, a waiver by the debtor of his right as a defendant in an action of replevin to a hearing or to notice of an opportunity to be heard before seizure of property securing the transaction is void if made before service of notice of the opportunity to be heard.