4 ms·
In Canada it is a crime to charge more then 60% per annum. I would not be shocked if the States had something similar on the books. http://laws-lois.justice.gc.
by jeo1234 11y ago
In Canada it is a crime to charge more then 60% per annum. I would not be shocked if the States had something similar on the books. http://laws-lois.justice.gc.ca/eng/acts/c-46/page-179.html#docCont http://laws-lois.justice.gc.ca/eng/acts/c-46/page-179.html#d...
Edit: It's a States issue. It looks like Massachusetts has some rules http://www.mass.gov/courts/case-legal-res/law-lib/laws-by-subj/about/interestrates.html http://www.mass.gov/courts/case-legal-res/law-lib/laws-by-su....
- zajd 11y agoI can assure you that not only is it legal, it's done quite often here in the states
- jackgavigan 11y agoThere are state usury laws that limit the amount of interest a lender can charge. http://www.lendingkarma.com/content/state-usury-laws-legal-interest-rates/ http://www.lendingkarma.com/content/state-usury-laws-legal-i...
- gambiting 11y agoLol. In UK there are short term loans which are publicly advertised as having an APR of at least 1500%(wonga.com), up to 3500% for larger sums. Fully legal.
- rasz_pl 11y agoIn PL wonga.com advertises strictly to elderly (using famous older actors for added nostalgia and trust factor), they intensify ad campaign during holiday season, 'your family deserves good holiday with great gifts!'.