Legal Question in Consumer Law in New York

I was billed for legal services, incurred for personal reasons, over a year ago for $2K. I had lost job so was unable to pay. I received a follow up invoice a year later with a 20% finance charge. What is the max finance charge/usary limit I can be charged on my outstanding balance?


Asked on 3/09/10, 6:51 pm

1 Answer from Attorneys
Mark S. Moroknek Kelly & Curtis, PLLC.

I believe that usuary is defined as over 25%. Interest rates are commonly charged by attorneys on unpaid balances, however, it should be mentioned in your retainer agreement and if it is not, you can challenge it in a fee dispute arbitration.

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Answered on 3/19/10, 9:39 am


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