North Carolina Usury Collection Check

Live. Collecting a North Carolina private loan? 8% without a written rate (G.S. 24-1), 16%+ Commissioner cap on $25k or less (24-1.1); over it = all interest forfeited, 2x paid back (24-2).

Collecting a North Carolina private, seller-carried or unlicensed loan? Checks each loan and contact against G.S. Chapter 24: 8% legal rate without a written interest contract (24-1); written loans of $25,000 or less capped at the Commissioner of Banks' monthly rate, at least 16% (24-1.1); any agreed rate above $25,000. A knowing overcharge forfeits the entire interest and lets the borrower recover twice the interest paid by suit or counterclaim (24-2), so only principal is collectable. Extra lender charges on loans under $300,000 (24-8), revolving plans over 1 1/2% a month (24-11) and possible Consumer Finance Act voidness (53-166) are flagged. Exempt loans ($300,000+, entity borrowers, business purpose; 24-9), banks and licensees are flagged out of scope; arrest threats flagged. Not legal advice.

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

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