Indiana Statutes
§ 24-4.5-3-405 — Limitation on default charges
Limitation on Default Charges — Except
for reasonable expenses incurred in realizing on a security interest, the
agreement with respect to a consumer loan may not provide for charges
as a result of default by the debtor other than those authorized by this
Article. A provision in violation of this section is unenforceable.
Formerly: Acts 1971, P.L.366, SEC.4.
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Related
Bullock v. Credit Bureau of Greater Indianapolis, Inc.
272 F. Supp. 2d 780 (S.D. Indiana, 2003)
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