Legal Question in Business Law in Indiana

Charging Finance Charges

What is the law on detailing the rate at which finance charges will accrue on unpaid balances over 30 days?

Asked on 2/13/08, 3:20 pm

1 Answer from Attorneys

C. David DuMond Law Offices of David DuMond

Re: Charging Finance Charges

Assuming you are describing a consumer transaction, the matter is probably governed by Regulation Z. It's a real snoozer. But that is the real name, so I suggest you Google "Regulation Z" and find the answer to your question. You may also discern why some lawyers, me for instance, would require a retainer of many ten thousands of dollars before reading through that morass on your behalf. Good luck. Maybe it's not as bad as I remember.

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Answered on 2/13/08, 4:24 pm

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