Ditch the Pitch
The Consumer Protection Code Revision Act of 1982 requires all creditors who wish to charge an Annual Percentage Rate (APR) in excess of 18% to file a Maximum Rate Schedule (MRS) with the Department. APR may be in excess of 18% requiring a Maximum Rate Schedule to be filed because of but not limited to:(1) financing that is offered at your place of business, (2) all paper work related to the sale is completed in your office at the time the sale takes place and the contract is assigned to another business, and (3) the sale is offered on credit but the credit price differs from the cash price because of a finance charge. A Maximum Rate Schedule must also be posted in the creditor's place of business. The filing fee is $40 per location.
*Please note the Department's physical address has changed*
**Mailings may still be sent to PO Box 5757 | Columbia, SC | 29250-5757**
Annual renewal begins November 1 and ends January 31 although filings may be made anytime during the year.
Filings expire January 31 of each year.
To avoid a late penalty, all renewal filings must be received by January 31.
**Motor Vehicle dealers, please use credit sales form above**