South Carolina

The relevant statute is the South Carolina Consumer Protection Code, S.C. Code Ann. §§37-1-101 et seq. (SC-CPC).

A. Actions creditor may take: SC-CPC §37-2-208(1) - If buyer fails to perform contract covenants pertaining to insurance, creditor, pursuant to the contract, may pay for performance of the duties on behalf of buyer and may add the amount paid to the debt.

B. Notices required: SC-CPC §37-2-208(1) - Within a reasonable time after advancing any sums, creditor must state in writing to buyer the amount advanced, any charges with respect to such amount, any revised payment schedule and a brief description of the insurance paid for by creditor including the type and amount of coverage.

C. Charges permitted: Yes. SC-CPC §37-2-208(1).

D. Finance charge allowed on creditor's payment: SC-CPC §37-2-208(2) - Credit service charge may not exceed contract rate stated to buyer.

Click here to view relevant South Carolina Code and Regulations.