Legal Question in Personal Injury in Connecticut
Unethical Practice
I was ''loaned'' $10,000 by a friend who is an attorney when I was in a desperate situation and as such, signed documents of repayment at face value plus 400%. In other words, he expects $40,000 in repayment for a $10,000 loan. Is this ethical? I will certainly repay him, but with reasonable interest. This is not reasonable.
4 Answers from Attorneys
Re: Unethical Practice
This sounds unethical to me. However, I would advise you to consult with a local attorney whom you trust to review any documents associated with the transaction.
Re: Unethical Practice
Contact the State Bar of Georgia and also your local District Attorney. He may lose his license, be fined or even face prosecution.
Re: Unethical Practice
I agree with the previous writer but I suggest that before you take any action like that you talk to the attorney first and see if you can persuade him to tear up the old loan document and substitute one that is reasonable.
Re: Unethical Practice
No, the attorney is not allowed to charge that amount of interest. If you need the help of a connecticut attorney, you may contact me at [email protected]
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