(815 ILCS 405/12.1)
Sec. 12.1.
Final installment.
Fifteen days after the final installment is
due as originally scheduled or deferred, the holder may compute and charge
interest on any balance remaining unpaid, including unpaid default or deferment
charges, at the annual percentage rate stated in the retail installment
contract until fully paid or until reduced to judgment. At the time the final
installment is due, the holder shall give notice to the buyer stating any
amounts unpaid.
(Source: P.A. 90-437, eff. 1-1-98.)
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