NC General Statutes

N.C. Gen. Stat. § 25A-29 (2026)

Default charges

✓ current as of July 2026

Find cases: SyfertCases citing this section NCLEGncleg.gov (official) JustiaChapter 25A CornellLII Search CasesGoogle Scholar

(a) If any installment is past due for 10 days or more according to the original terms of the consumer credit installment sale contract, a default charge may be made in an amount of eighteen dollars ($18.00). A default charge may be imposed only one time for each default.

(b) If a default charge is deducted from a payment made on the contract and the deduction results in a subsequent default on a subsequent payment, no default charge shall be imposed for the default.

(c) If a default charge has been once imposed with respect to a particular default in payment, no default charge shall be imposed with respect to any future payments that would not have been in default except for the previous default.

(d) A default charge for any particular default is deemed to have been waived by the seller unless, within 45 days following the default, (i) the charge is collected or (ii) written notice of the charge is sent to the buyer. (1971, c. 796, s. 1; 2017-45, s. 1; 2023-60, s. 2.)

Notes of Decisions

Cited in 1 case, 1982–1982 · leading case: Steed v. First Union Nat'l Bank, 293 S.E.2d 217 (N.C. Ct. App. 1982).

Sort: Relevance Newest Treatment

Steed v. First Union Nat'l Bank, 293 S.E.2d 217 (N.C. Ct. App. 1982). · cites it 3× “Defendant’s Appeal The essence of defendant’s argument is that G.S. 25A-29 allows the imposition of a default charge for each period a single installment payment remains in default.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.