New South Carolina LAW 553 Revision July 2020
A new dot matrix and eLAW 553 Retail Installment Contract was released on July 1st 2020.
These new contracts will reflect the South Carolina late fee law changes to took affect on 7/1/2020. Minimum late fee is now $8.40 and Maximum late fee is now $21.00. These fees are hardcoded on the contract itself and that is why new forms have been released.
If you print the LAW 553 on plain paper already you’ll find an alert that you have ‘Updates to Install’!
If you have the 553 7/20 hard copy contracts already and need the updated file download it here
If you would like to switch from the hard copies to printing the SC LAW 553 on plain paper please give us a call to get you set up. In order to print you will be required to purchase credits (packs of 10, 50, or 100).
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