Legal Question in Credit and Debt Law in California

Your friend has probably violated several different consumer finance laws, including (potentially) usury laws. To charge extremely high interest rates, and possibly some of these fees, he would have to have a consumer finance license from the State. Your only real option, however, is to hire an attorney to file suit against him to clarify all of this. You need to contact a litigation attorney in your area to discuss what you may be able to do. It is pretty clear, however, that your friend is over-reaching and probably violating state law in doing so.

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