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- If someone wants to borrow money OFFERS an . . . - Justia Ask a Lawyer
A: In Indiana, the maximum allowable interest rate on loans is regulated by state usury laws, and exceeding these limits can result in legal consequences While state law may set a maximum interest rate, it's generally applicable to contractual agreements If the borrower voluntarily offers a higher interest rate without any coercion or stipulation from you, it might be considered a lawful
- In the state of FL, what is the maximum late payment interest charges a . . .
In very general terms, Florida law provides that no combination of interest and late fees should exceed the statutory usury limits, however, the usury law provides for a number of exceptions (most notably banks, credit cards issuers, and other lenders) and varying remedies, including preventing the contractor from collecting the entire amount
- Do I need a Maryland Consumer Loan license to lend a friend $6,000. 00 . . .
A: Your question involves at least two areas of commercial law in this state-- interest rates and lender licensing Maryland's laws on lending and usury (maximum interest) are a bit complicated The legal rate of interest in this state is 6% To charge more, you must fit within an exemption For instance, if there is a written loan document, the interest can increase to 8% There are a lot of
- Is charging high interest on personal loans friends is punishable, if . . .
These laws are designed to protect borrowers from predatory lending practices 1 Usury Laws: California has usury laws that set limits on the interest rates that can be charged on personal loans The maximum annual interest rate for non-exempt lenders is generally 10% for loans for personal, family, or household purposes 2
- What is the maximum interest rate on a retail installment contract
Under the "time price doctrine" a retail installment sale has for hundreds of years been deemed not to be a loan of money subject to the usury laws New York's Retail Installment Sales Act was amended in 1994 to make explicit that the maximum interest rate that may be charged is whatever rate is written in the contract
- Q: I am being charged 24. 22 % for a loan this is higher than the usury . . .
A: Maryland usury law is rather complicated and has all sorts of different rates of interest depending on the situation For instance, the maximum legal rate of interest permissible for a Maryland loan might be 6%, 8%, 18% or 33% depending on the facts
- what is the allowable interest that my michigan condo association . . .
A: Assuming they are dealing with an INDIVIDUAL, the standard usury law would apply What do the condo association documents say? Is that compliant with usury rules? Has anyone raised the issue with the condo board? Condos are a rather strange animal especially when so many people suggest that smaller government is better, it never ceases to amaze me that they say this, and then voluntarily
- What can I do about a usury situation through a furniture store (NJ . . .
Read 1 Answer from lawyers to What can I do about a usury situation through a furniture store (NJ) their outside finance co (CA UT)? Thank You - New Jersey Consumer Law Questions Answers - Justia Ask a Lawyer
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