INTEREST RATE
Date: Tue, 12/30/2008 - 11:32
IF YOU BORROW MONEY OFF A FRIEND WHATS THE HIGHEST LEAGALLY ONE CAN CHARGE ANNUALLY?
mmmm...have seen cases on Judge Judy and the other shows where "
mmmm...have seen cases on Judge Judy and the other shows where "friend loans" were charging usary rates. The judge always lowers it to the state max.
nascar, I have to disagree. There are states which set usury la
nascar, I have to disagree. There are states which set usury laws for loans between two individuals. i cannot recall which one, but i just looked that up for someone here in the last two weeks.
to answer the original question, the maximum interest is different in each state, and is governed by 'usury laws'. Do a google search for your state's usury laws, you should find it pretty easily.
If you're talking about a wriiten contract entered into by 2 ind
If you're talking about a wriiten contract entered into by 2 individuals. This sounds like more of a handshake deal.