Indiana Personal Loan for Bad Credit Laws and Regulations in (IN)

(last updated 01/13/2016)
Indiana Uniform Consumer Credit Code ("UCCC"), IC 24-4.5

There is a law in Indiana which regulates how much you can be charged for credit, restricts what can happen to you if you pay late, and defines what information must be provided to you before you commit to any credit transaction. The name of that law is the Indiana Uniform Consumer Credit Code ("UCCC"), IC 24-4.5. Some of the UCCC's more important provisions are given below.

The following rates can be charged on credit sales or loans: 36 % on amounts financed up to $960,

plus 21 % on the portion of the amount financed from $960.01 to $3,200,

plus 15 % on the portion of the amount financed over $3,200; or 21%, whichever is greater.
 
This information is for informational purposes only. Although care has been taken to accurately describe the laws and regulations in Indiana, no guarantees are implied or expressed about its accuracy. This is not legal advice. If you need legal advice, please consult an attorney or the Indiana Department of Financial Institutions.
 
The following classes of lending organizations may be exempt from some, all, or none of the regulations and laws set by the state of Indiana. Federally chartered banks, state chartered banks, credit unions and some entities organized under the laws of a sovereign nation (for example) a Native American Tribe or the country of Antigua.


Indiana Personal Loan for Bad Credit Lending Regulator (IN)

Regulating Authority
Indiana Department of Financial Institutions
30 South Meridian Street.
Suite 300
Indianapolis, IN 46204
(317)232-3955, (800)382-4880
in.gov/dfi/index.htm

Agency for Handling Complaints
Department of Financial Institutions
30 S. Meridian St.
Suite 300
Indianapolis , IN 46204
317-232-3955, 800-382-4880
in.gov/dfi/2335.htm

 

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Indiana Financial Counseling Information

If you feel that you may benefit from the services of a financial counselor, The Comprehensive Credit Counseling of Rural Services of Indiana, Inc. can be located at 60918 US 31 South South Bend, IN 46614 or by calling 800-288-6581 services are not specified.