Skip to content
BOL Conferences Top Gun 23
Learn More - Click Here!

Thread Options
#2189343 - 08/16/18 02:06 PM Late Fees - MO
I luv Giraffes Offline
Joined: Sep 2008
Posts: 68
Closed end consumer loan - not residential. Can late fees be increased for existing loans?

Return to Top
#2189353 - 08/16/18 02:49 PM Re: Late Fees - MO I luv Giraffes
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 81,309
Galveston, TX
Closed-end loans are governed by the loan contract. You can only change the contract with the agreement with the customer via a modification. In your contracts, did you say the late charge will be $XX or that late charges will be $XX or the maximum then allowed under State law?
The opinions expressed here should not be construed to be those of my employer:

Return to Top