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QUESTION

How much interest can a legal firm charge for collection?

Asked on Aug 07th, 2017 on Landlord and Tenant Law - California
More details to this question:
Having a repayment plan in place, what is the maximum interest the legal firm can charge?
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1 ANSWER

Georges Herman Shers
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In California, only banks and similar institutes can charge in excess of 12% per year. I believe that if more than that is charged, all interest payments are forfeited and not just the excess.
Answered on Sep 06th, 2017 at 8:43 AM

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