Legal Question in Civil Litigation in Maryland

If a person borrows money from a friend ,$200, and agrees to pay it back, can the person who loaned the money charge interest of $125 on the loan without a written or verbal agreement.


Asked on 8/29/09, 11:32 am

1 Answer from Attorneys
Robert Sher Wagshal and Sher

No. Unless there was an agreement to pay interest, none is due. $125 on a $200 loan would be considered usury and thus illegal in any event under the circumstances you presented.

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Answered on 9/03/09, 12:29 pm


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