Late Charges
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Statutes
"Consumer Credit Transactions
A creditor may contract for and receive a delinquency charge on any outstanding, unpaid installment payment or portion of such payment due under a consumer credit transaction or open-end credit plan not paid in full within 15 days after its scheduled or deferred due date up to a specified amount. (9-A MRS ยง2-502)"
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The statutory information was edited and reviewed with the support of MultiState
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