Illinois Compiled Statutes
815 ILCS 375/11 (2026)
Delinquency charges
✓ current as of May 2026
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(815 ILCS 375/11)
(from Ch. 121 1/2, par. 571)
Sec. 11.
Delinquency charges.
A retail installment contract may provide
for a
delinquency and collection charge, on each installment in default for a
period of not
less than 10 days, in an amount not exceeding 5% of the installment on
installments in excess of $200 or $10 on installments
of $200 or less.
Only one delinquency and collection charge may be collected on any
installment regardless of the period during which it
remains
in default. In addition, a retail installment contract may provide for the
payment by the buyer of reasonable attorney's fees incurred in the
collection or
enforcement of the contract. Any clause or provision of any retail
installment contract entered into after December 31, 1973, to the contrary
notwithstanding with respect to attorney's fees incurred in the collection
or enforcement of such contract, the court in its discretion may award
attorney's fees to either party as the interests of justice may require.
(Source: P.A. 90-437, eff. 1-1-98.)
Notes of Decisions
Cited in 5
cases, 1995–2005 · leading case: Guinn v. Hoskins Chevrolet, 836 N.E.2d 681 (Ill. App. Ct. 2005).
Guinn v. Hoskins Chevrolet, 836 N.E.2d 681 (Ill. App. Ct. 2005). “” 815 ILCS 375/11 (West 2002). In the TILA disclosure section of the contract at issue here in a section entitled, “Your payment schedule will be,” the “Number of payments” is identified as 36 and the “Amount of Payments” is set as $209.”
First Chicago Gary-Wheaton Bank v. Gaughan, 655 N.E.2d 936 (Ill. App. Ct. 1995). “On January 5, 1994, defendant filed a petition for attorney fees pursuant to section 11 of the Sales Act (815 ILCS 375/11 (West 1992)). At a hearing on the issue, the court denied defendant’s motion for attorney fees.”
Route 50 Auto Sales, Inc. v. Muncy, 771 N.E.2d 635 (Ill. App. Ct. 2002). “815 ILCS 375/11 (West 1998). In this case, the original balance of the contract was $7,040.”
Route 50 Auto Sales, Inc. v. Muncy (Ill. App. Ct. 2002). “815 ILCS 375/11 (West 1998). In this case, the original balance of the contract was $7,040.”
Guinn v. Hoskins Chevrolet (Ill. App. Ct. 2005). “" 815 ILCS 375/11 (West 2002). In the TILA disclosure section of the contract at issue here in a section entitled, "Your payment schedule will be," the "Number of payments" is identified as 36 and the "Amount of Payments" is set as $209.”
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