Legal Question in Credit and Debt Law in California
I have a personal loan from my significant other. Does she have to charge interest by california law?
Asked on 11/01/11, 7:17 pm
4 Answers from Attorneys
Tony Carballo
Carballo Law Offices
No. It is optional with the lender.
Answered on 11/01/11, 7:24 pm
No, but technically you must declare market rate interest on the debt as income on your income taxes if you don't pay interest.
Answered on 11/01/11, 7:26 pm
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