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Last up-to-date September 20th 2020
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Tennessee Usury and Regulations
Overview of Tennessee Usury Law(s) / Quote: “Legal: 10% / Contract: 4% over normal regular prime price / Judgment: 10% / Corporate: Rate perhaps perhaps not particular”
(WeFindLenders. endeavors to include the absolute most updated appropriate information for Tennessee, but no guarantee or guarantee of all kinds is expressed or suggested regarding the accuracy of stated data. This information is perhaps perhaps maybe not designed to be legal counsel. For appropriate assistance consult with an attorney in Tennessee , and/or contact the Tennessee local government’s unit of banking and finance – legal statutes investigated by FindLaw. & American Lawyers Quarterly – see credits )
Tennessee Usury Law Information:
Legal Optimum Interest Levels: Quote: “10% (В§47-14-103)”
Usury Penalties: Quote: “Contract unenforceable; if discovered unconscionable, loan provider must refund costs, charges, and objective charges and effective plaintiff may recover reasonable lawyer’s fees (В§47-14-117); willful collection is really a Class A misdemeanor (В§47-14-112)”
Appropriate Exceptions: Quote: “Installment loans (В§45-2-1106); loans under $1000; (В§47-14-104); cost savings and loans (В§45-3-705); solitary re re payment loans В§(47-14-104)”