How high can personal loans realistically charge a person?


Are there laws in place to keep them from charging ridiculous amounts or is this up to the bank according to credit scores? I was on a website that stated there have been some loans that have been as high as 70%. That is a lot of money in interest. So if your personal loan is $1,000 you have to pay them back $1,700!

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May 10, 2020 9:14 PM


As high as they signed on for, really. This is why you ALWAYS read the fine print before you sign any kind of contract dealing with money.

May 16, 2020 1:02 AM

I honestly don't know if there are laws in place to prevent companies charging you higher than a certain percentage. I know there aw laws to protect debt collectors from harassing you have so many years but that is about it.

May 18, 2020 7:58 PM