I did a search and didn’t come up with much.
Reason I’m asking is I have a neighbor I take care of currently at MUSC with cancer in his tongue and jaw. Not looking good for him and I was going through his finances and found where he took a loan out against his truck for $1000.00. The interest rate is 39.9%!! I’ve never heard of such! My neighbor is not very literate and I don’t think he knew what he was getting. It is a 12 month loan.
Is this even legal?
Thanks in advance for any help!