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%.

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Answered on 8/31/06, 8:59 am


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