Closed-end credit Related Topics 
Troutman Sanders
AUGUST 10, 2021
On July 1, the Maryland Court of Special Appeals affirmed in part a trial court’s dismissal of claims brought under Maryland’s Credit Grantor Closed End Credit Provisions (CLEC) due to the plaintiff’s lack of damages.
Troutman Sanders
OCTOBER 18, 2022
A lender who defers payments on a closed-end credit obligation or an open-end credit obligation with a maturity date to extend the term of the obligation by the amount of months the obligation was deferred. No court order is required.
Collection Industry News
OCTOBER 6, 2020
An important caveat to this strict limit is that it only applies after the creditor institutes “debt collection procedures,” a term that has different meanings depending on the type of credit.
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