14 Guam Code Ann. § 3108
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Terms Used In 14 Guam Code Ann. § 3108
- Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
volving Loan Account means an arrangement between a lender and a debtor pursuant to which (1) it is contemplated by the parties that the lender may make loans to the debtor from time to time, (2) the debts
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14 Guam Code Ann. UNIFORM CONSUMER CREDIT CODE
CH. 3 LOANS
arising from loans, loan finance charges and other charges will be debit- ed to an account, (3) a loan finance charge will not be precomputed but may be computed from time to time on the basis of the debtor’s unpaid balances, and (4) debtor will have the privilege of paying the balances in installments.