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Is there a limit on delinquency charges/late fees that can be charged on loans in the State of Ohio?

April 26, 2017charged Charges Delinquency fees late limit Loans Ohio State

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Is there a limit on delinquency charges/late fees that can be charged on loans in the State of Ohio?

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• A. Ohio does not have a statute which limits the amount of delinquency charges/late fees that can be charged on loans. The amounts of late charges that will be assessed are usually specified in the loan agreement between the financial institution (the lender) and the customer (the borrower).