is there an interest rate that a neighbor can charge you that gave you a loan in the state of florida?

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is there an interest rate that a neighbor can charge you that gave you a loan in the state of florida?

2006-10-09 14:36:01 · 3 answers · asked by kim r 1 in Social Science ➔ Sociology

3 answers

There is no law governing interest rate charges when an individual gives you a loan in any state. The laws only apply to loan companies - not neighbors.

2006-10-09 14:41:25 · answer #1 · answered by MissKathleen 6 · 0⤊ 0⤋

Anyone can charge you whatever they like, IF you sign a written agreement. If there is no written agreement, you owe only what you borrowed. I suggest you pay them back and make them go away as soon as possible.

2006-10-09 21:42:57 · answer #2 · answered by mickeyg1958 4 · 0⤊ 0⤋

depends totally on if you signed any kind of contract when they loaned it to you. and what was laid out in that contract.

2006-10-09 21:51:43 · answer #3 · answered by *~HoNeYBeE~* 5 · 0⤊ 0⤋