Late Charges
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Statutes
"With respect to a consumer credit sale, refinancing, or consolidation, the parties may contract for a delinquency charge on any installment not paid in full within 10 days after its scheduled due date in an amount not exceeding the greater of 5% of the unpaid amount of the installment; or $10.00. ( Credit Sales W.S. § 40-14-214, Loans W.S. § 40-14-312)
Consumer Rental-Purchase
A rental-purchase agreement may not contain a provision for a late charge or any other type of charge or penalty for reinstating a rental-purchase agreement other than a reinstatement fee. However, a merchant may use the term “late charge” or a similar term to refer to a reinstatement fee. (W.S. § 40-19-108)"
Cases
Comments
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Contributors
MultiState
The statutory information was edited and reviewed with the support of MultiState
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