Is It Illegal To Charge Interest When Loaning Someone Money?


The company I own lent one of our suppliers some money as we had a good relationship before and we agreed that I shall be paid an interest of 20 per cent on top of the due amount. When I asked the supplier to pay the money, he threatened me and said I do not have the right to claim this interest and he said he can put me in jail. Now, I do not have the interest but he can give me the loan amount. I did not know it was a crime. What are my options? Click to know more.

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Created by HassanE123 28 weeks 4 days ago – Made popular 28 weeks 3 days ago
Category: Business   Tags:

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