Pennsylvania § 6343 Late fees

Pennsylvania Statutes

§ 6343 — Late fees

Pennsylvania § 6343

JurisdictionPennsylvania

Title 12COMMERCE AND TRADE

PartPART V

Ch. 63GOODS AND SERVICES INSTALLMENT SALES

Subch.COSTS AND CHARGES

This text of Pennsylvania § 6343 (Late fees) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

12 Pa. Cons. Stat. § 6343 (2026).

Text

(a)Closed-end credit agreement.--

(1)A closed-end credit agreement may provide for the payment by the buyer of a late fee on each installment in default for a period of not less than ten days in an amount not in excess of 5% of the installment or $10, whichever is less.

(2)Only one late fee may be collected on an installment regardless of the period that it remains in default.

(b)Open-end credit agreement.--A late fee may be assessed on an open-end credit agreement regarding each minimum payment not paid in full on the payment due date of the statement on which the minimum payment first appears.

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(a) Closed-end credit agreement.--

(1) A closed-end credit agreement may provide for the payment by the buyer of a late fee on each installment in default for a period of not less than ten days in an amount not in excess of 5% of the installment or $10, whichever is less.

(2) Only one late fee may be collected on an installment regardless of the period that it remains in default.

(b) Open-end credit agreement.--A late fee may be assessed on an open-end credit agreement regarding each minimum payment not paid in full on the payment due date of the statement on which the minimum payment first appears.