This is not legal advice for your situation*

Late Fee Dollar Amounts Updates

The DocMagic System has been updated to reflect the July 1, 2006, increased late fee dollar amounts for loans made under the consumer credit codes in Indiana, Minnesota, Oklahoma and South Carolina. The following changes were made: (i) Indiana late fee dollar amount was $16.50, changed to $ 17.00; (ii) Minnesota late fee dollar amount was $6.24, changed to $6.86; (iii) Oklahoma late fee dollar amount was $20.00, changed to $20.50; and (iv) South Carolina maximum late fee dollar amount was $14.50, changed to $15.50, and minimum late fee dollar amount was $5.80, changed to $6.20.




*This article is distributed to provide general information about the subject matter covered and should not be utilized as a substitute for professional advice in specific situations. If you require such advice, please consult with your own professional advisers.