Maryland Usury Collection Check

Live. Collecting a Maryland private loan? 6% without a signed written rate, up to 24% with one (Com. Law 12-102, 12-103); over it = 3x excess or $500 (12-114).

Collecting a Maryland private, seller-carried or unlicensed loan? Checks each loan and contact against Maryland's general usury law: 6% a year without a signed written agreement stating the rate (Com. Law 12-102); with one, 8%, or up to 24% on unsecured loans that meet 12-103(a)(3); above the limit the lender forfeits to the borrower the greater of 3x the excess interest and charges collected or $500, unless it cured within 30 days (12-114). Corporations, commercial loans over $15,000 ($75,000 if residence-secured), first mortgages and licensees are flagged out of scope. Flags collecting usurious interest (FDCPA 1692e(2)(A), 1692f(1)) and arrest threats. Not legal advice.

Price: $0.001 per call after 1,000 free per month.

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