QUESTION
How could I check for interest rate limitations and legalities?
Asked on Jun 30th, 2015 on Bankruptcy - Illinois
More details to this question:
I borrowed $5000 from a loan company and later discovered the interest rate was 149%. Is this rate legal and if not what can I do?
1 ANSWER
Debt Collection Attorney serving Chicago, IL
Partner at
Edelman, Combs, Latturner & Goodwin, LLC
2 Awards
It depends on the type of loan and type of lender. Have an attorney review the loan documents.
Answered on Jun 30th, 2015 at 4:26 PM