What State Law  says that companies can not charges over a 6% interest rate?
831257
I am not sure, but I can not imagine that is a law anywhere.\n\nMaybe you have misread, or misheard the rule.  Just a guess, but perhaps it is stated something like, "can not charge over 6 percentages higher than the current rates."
1025300
Florida also has good protection for the corporation and can be filed online:\nhttp://www.floridaincorporationservice.com/\n\nThe process will set you back a few hundred dollars, but it does not take very long.\n\nHope this helps!
32599
You are charged the "annual percentage rate" all the time. For example; if the APR is 18%, 18% divided by 12 months = 1.5% per month. \n Most times if you repay in 30 days, you pay no interest.\n On special promotions "no interest" may be 60, 90 days, or months, or next year. Whatever.
75920
I would of thought that this is a Federal issue since the Constitution says that controlling commerce falls under the federal goverments job, but after doing a search I found I was wrong. Each state is allowed to set a limit as to what interest rates a bank can charge. While the PDF linked below doesn't give rates by state, it gives some interesting info.
138961
Hi tiff_ige,\nI've lived in several states and have never ran across that law. Good Luck: Blueladybug
43102
Yes, interest can be charged.  Usually it is written into the decision, that it has to be paid in X number of days (usually 21-30).  I think the percentage is around 10%, however I can't quote that as a fact and couldn't find it online.  I know NY it is only 2%, and I have seen language in NJ regarding "interest that would be accrued in a high rate savings account" or something along those lines.\n\nHowever, the problem becomes collecting on that, as you need the court to issue that they are in default.  Then the court can order them to pay (which they did originally and which was ignored).  Beyond that, I don't think there is an legal recourse.
1168559
The issue is confusing because different states apply different laws (some outlaw payday loans entirely, some outlaw high interest loans), but most payday loan centers will not do business in the following states:  Arizona, Texas, Arkansas, Michigan, Alabama, Georgia, Virginia, Maryland, Delaware, Pennsylvania, New York, Connecticut, Maine, Minnesota, and New Hampshire.
790934
Generally speaking an attorney is required to have you sign a retainer agreement.  If the attorney refuses to return you the money less the time he has billed you should look into the requirements in your State or Country.  I believe the attorney would have had to have told you that it was a flat rate in writing, but I might be wrong.
933755
You need to investigate what your state laws are.  Banking is a very tightly regulated industry.  Most states limit how many "loans" an "individual" can make of even their own money before they want some level of regulatory control.  They don't want any "loan sharking" -  "Investment Banking" is a different animal - IB you act as much more of a "deal maker" than a "banker" - unless your Goldman and have the capital and man power to roll out private placements and IPOs - you will start acting more as deal broker.  One can NOT understate the importance of following the letter of the law regarding lending laws - fraud and consumer protection are front and center right now in the world of banking.
126964
I am assuming you mean Debts. I do not know the specific laws in Kansas, but I do know that a company collect a debt as long as you recognize it as your debt. Meaning 10 years from now, if you acknowledge an old debt, you can be forced to pay it off.
449665
MOST of the time they are deductible. \n\nThe rule is if they are a percentage then they are interest and are deductible.\n\nBut a far more important question is can the company charge them. Many states have written laws that prevent the companies from legally charging prepayment penalties. The problem is that many of the companies just go ahead and charge them anyway knowing that may people will never check  out if they are allowed to collect them.\n\nI had a client here in Wichita where I maintain a tax office come in last year after being charged a prepayment fee by Beneficial Finance wanting to know the same thing. When I told them to contact the Kansas Attorney Generals office because they weren't allowed to collect such fees anymore in Kansas I think that they though I was crazy.\n\nBut they took my advice and wrote them and within one week they had a letter from the Kansas Attorney Generals office saying that they had contacted Beneficial and ordered them to repay the prepayment fee. Of course they were elated.\n\nTo make a long story short the customer got back over $4800 within 10 days of contacting the Attorney Generals office. Just because they say they have the right to collect a prepayment fee doesn't mean they do.\n\nSo contact your State Attorney Generals Office and be sure they even had the right to charge you a prepayment fee. If they did then most like it's deductible. \n\nLet me know the details and I'll research it for you.
269990
I haven't found anything illegal about it (unfortunately).  However, I would guarantee that the bank doing the transactions made the restaurant sign an agreement stating they wouldn't charge their employees when a customer uses a credit card--So it's in violation of their credit card agreement.  Also, since it costs you to accept credit cards, you should get a 1099 with the costs detailed so you can count it on your taxes--discuss this with your tax preparer/advisor.
688618
there are no laws reg. this. \nthe rates change according to the area.\nthe more costly are the premises , the more are the rates of the cafes.
1117319
The 6.8% interest rate applies to any loans “first disbursed on or after July 1st.” This has been already been written into the Higher Education Act.  The *earliest* anyone’s loans can be disbursed is 10 days before the start of his/her enrollment period (i.e. the start of classes).  So, unless you’re starting classes very, very soon, your loans must be subject to the new fixed 6.8% rate. \n\nThere’s really no point in hurrying or trying to find a way around the regulations. Even students who *can* have their loans disbursed before July 1st will still be subject to an interest rate hike.  \n\nThe rate structure is fairly simple: for any loans first disbursed before July 1, 2006, the rates are *variable* and are based on the 91-day T bill.  Since we already know what the T bill went for, we know that the rates on all variable loans [disbursed since July 1998] will be 6.54%. \n\nTo put it another way: even if you could get your hands on a Stafford loan with a 5.3% rate, it would only remain 5.3% for another 9 days.  The only way to fix (“lock in”) this rate would be to consolidate before the rate increase… but you can’t consolidate a loan until it’s fully disbursed (which means waiting for the second disbursement to come through for [in your case, probably for the Spring 2007 semester]).\n\nJust take the rate hike in stride – millions of students are in your same position.  In the grand scheme of things, a fixed 6.8% rate isn’t so bad (people would kill for a credit card or car loan that low!)…
688066
Bank when take guarantee take standard guarantees which is joint and several guarantee. So they must be legally on firm ground to do that. They have filed the case since for getting amount appropriated against loan. I would suggest that tell court that you are fine with paying out loan and bargain for simple interest instead of compound interest. This will save you from all legal costs and waste of time.
476079
There are laws prohibiting antitrust and collusion for gas prices or any other industry.  However, since there are no charges being brought forward, then the general conclusion is that prices aren't being fixed.
769023
Like answerer #1, I have also signed merchant account agreements.  Not sure where all these other peple are getting their answers but from personal experience, they are mistaken.\n\nSo here is your answer...\n\nWhen a company wants to accept credit cards it has to sign a contract agreeing to certain terms and conditions.  So while it is NOT illegal (they cannot go to jail over it) it IS against the terms of a retailers contract to have a minimum charge.\n\nAlso, they are not supposed to give discounts for paying cash, or charge a percentage for the amount you want to charge.\n\nSee an additional source below.