Legal Question in Business Law in Connecticut
maximum amount of interest allowed on balances
What is the maximum interest rate that we can charge for clients who carry a monthly balance? Can we charge a billing charge on top of that?
Asked on 8/30/06, 5:18 pm
1 Answer from Attorneys
Andrew Magwood
Andrew A. Magwood Attorney at Law
Re: maximum amount of interest allowed on balances
It depends on what you are doing, but you should be ok if you do not exceed 12%.
Answered on 8/31/06, 8:59 am
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