I don't do a lot of unsecured lines of credit, usually do HELOC loans. So here is my strange question, if it is a line and I am doing a billing notice, how far ahead do I have to send out the bill? 10 days? 21 days? I have heard both and right now just can't seem to come up with the answer? Any help is appreciated.

1026.5(b)(2)(ii)(B) Open-end consumer credit plans. For accounts under an open-end consumer credit plan, a creditor must adopt reasonable procedures designed to ensure that:

( 1 ) If a grace period applies to the account:

( i ) Periodic statements are mailed or delivered at least 21 days prior to the date on which the grace period expires; and

( ii ) The creditor does not impose finance charges as a result of the loss of the grace period if a payment that satisfies the terms of the grace period is received by the creditor within 21 days after mailing or delivery of the periodic statement.

( 2 ) Regardless of whether a grace period applies to the account:

( i ) Periodic statements are mailed or delivered at least 14 days prior to the date on which the required minimum periodic payment must be received in order to avoid being treated as late for any purpose; and

( ii ) The creditor does not treat as late for any purpose a required minimum periodic payment received by the creditor within 14 days after mailing or delivery of the periodic statement.

Thanks Randy! I appreciate it.