How could I check for interest rate limitations and legalities? 3 Answers as of July 02, 2015

I borrowed $5000 from a loan company and later discovered the interest rate was 149%. Is this rate legal and if not what can I do?

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Stephens Gourley & Bywater | David A. Stephens
That depends on the nature of the loan and the state from which the loan was taken. It sees high for Nevada.
Answer Applies to: Nevada
Replied: 7/2/2015
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
It sounds like usury and you may have to sue them.
Answer Applies to: New York
Replied: 7/1/2015
Edelman, Combs, Latturner & Goodwin, LLC | Daniel A. Edelman
It depends on the type of loan and type of lender. Have an attorney review the loan documents.
Answer Applies to: Illinois
Replied: 6/30/2015
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