Thursday, January 2, 2014

Under the florida law, and during a will, is it legal for the lender to charge interest of 1,700.00 on borrowing 2,000.00? Thanks, SS

Question

Under the florida law, and during a will, is it legal for the lender to charge interest of 1,700.00 on borrowing 2,000.00? Thanks, SS



Answer

This question makes absolutely no sense. If you have a will, it is only effective upon death. If you borrowed funds from a lender, the interest will accru at the rate stated until the loan is paid.



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