Truth in Lending: G-18(B)—Late Payment Fee Sample
Late Payment Warning: If we do not receive your minimum payment by the date listed above, you may have to pay a $35 late fee and your APRs may be increased up to the Penalty APR of 28.99%.
Late Payment Warning: If we do not receive your minimum payment by the date listed above, you may have to pay a $35 late fee and your APRs may be increased up to the Penalty APR of 28.99%.
[Reserved.]
[You must pay your promotional balance in full by [date] to avoid paying accrued interest charges.]
(a) For Credit Card Accounts Under an Open-End (Not Home-Secured) Consumer Credit Plan
[Interest will be charged to your account from the purchase date if the purchase balance is not paid in full within the/by [deferred interest period/date] or if you make a late payment.]
(b) For Other Open-End Plans
[Interest will be charged to your account from the purchase date if the purchase balance is not paid in full within the/by [deferred interest period/date] or if your account is otherwise in default.]
Your Choice Regarding Over-the-Credit Limit Coverage
Unless you tell us otherwise, we will decline any transaction that causes you to go over your credit limit. If you want us to authorize these transactions, you can request over-the-credit limit coverage.
If you have over-the-credit limit coverage and you go over your credit limit, we will charge you a fee of up to $35. We may also increase your APRs to the Penalty APR of XX.XX%. You will only pay one fee per billing cycle, even if you go over your limit multiple times in the same cycle.
You currently have over-the-credit limit coverage on your account, which means that we pay transactions that cause you go to over your credit limit. If you do go over your credit limit, we will charge you a fee of up to $35. We may also increase your APRs. To remove over-the-credit-limit coverage from your account, call us at 1-800-xxxxxxx or visit [insert Web site]. [You may also write us at: [insert address].]
[You may also check or initial the box below and return this form to us at: [insert address].
___ I want to cancel over-the-limit coverage for my account.
[46 Fed. Reg. 20,892 (Apr. 7, 1981), as amended at 46 Fed. Reg. 60,191 (Dec. 9, 1981); 54 Fed. Reg. 13,868 (Apr. 6, 1989); 54 Fed. Reg. 24,689 (June 9, 1989); 55 Fed. Reg. 38,312 (Sept. 18, 1990); 65 Fed. Reg. 58,908 (Oct. 3, 2000); 66 Fed. Reg. 43,463 (Aug. 20, 2001); 75 Fed. Reg. 7825 (Feb. 22, 2010); 75 Fed. Reg. 37,573 (June 29, 2010); 76 Fed. Reg. 79,772 (Dec. 22, 2011)]
| H-1 | Credit Sale Model Form (§ 1026.18) |
| H-2 | Loan Model Form (§ 1026.18) |
| H-3 | Amount Financed Itemization Model Form (§ 1026.18(c)) |
Itemization of the Amount Financed of $___
$__________________ Amount given to you directly
$__________________ Amount paid on your account
Amount paid to others on your behalf
$___ to [public officials]
[credit bureau]
[appraiser]
[insurance company]
$___ to (name of another creditor)
$___ to (other)
$___ Prepaid finance charge
The annual percentage rate may increase during the term of this transaction if:
[the prime interest rate of (creditor) increases.]
[the balance in your deposit account falls below $_______________.]
[you terminate your employment with (employer).]
[The interest rate will not increase above ______%.]
[The maximum interest rate increase at one time will be ______%.]
[The rate will not increase more than once every (time period).]
Any increase will take the form of:
[higher payment amounts.]
Your loan contains a variable-rate feature. Disclosures about the variable-rate feature have been provided to you earlier.
Editor’s Note284
This disclosure describes the features of the adjustable-rate mortgage (ARM) program you are considering. Information on other ARM programs is available upon request.
How Your Interest Rate and Payment Are Determined
[Introductory Rate Notice
[Final Balloon Payment due (date): $______]
There is no guarantee that you will be able to refinance to lower your rate and payments.