Thanks Army judge. Now that I know this is usury, what do I do to recover the 5000 I lent? I just want to recover my money and refuse to collect interest. Thanks
I, the payee, landed $5,000 to the borrower for a 90 day term and the latter promised to pay $500 interest per month for 3 months (total 1500) and pay back the $5,000 principal at the end of 90 day term as documented in the promissory note/personal guarantee. Does this constitute usury in...