Legal Question in Credit and Debt Law in California

On two occasions, I lent someone money and the interest charged on the loan was 60% over a month. This person now can't pay back and I am afraid that I will be sued for usury (Just found out about Usury Law few days ago). Here is the twist...this person lied to me at the first place to get into the contracts. He said he had a full time job (which I asked explicitly) before we signed the contracts. I will have never entered into any contract with this person had I known the fact that he did not have a full time job.

If this person goes to court to sue for usury, do I have a chance to win based on the fact that he lied (fraud?) at the first place?

If I decide to go to court, will I be able to claim my money back (at least principle portion)?


Asked on 11/04/10, 8:39 am

1 Answer from Attorneys
Joe Marman Law Office of Joseph Marman

I would not worry about usury. The court will not punish you, they will just limit the interest you will get. Sue the person.

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Answered on 11/09/10, 9:54 am


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