Chapter 190: Martial Arts Competition Information

Four times the LPR (loan prime rate), that doesn't exist these days.

Before 2015, the protected annual interest rate was within 24%. Lenders could sue to claim it, but any amount above that wouldn't be supported by courts.

However, if a borrower voluntarily paid at a rate of 36%, they could not file a lawsuit to ask for a refund.

In other words, if you haven't paid the interest, you only have to pay two percent, and the court will only protect up to that much; but if you have already paid, nothing over three percent can be reclaimed through a lawsuit.

Any parts before August 2020 were governed by the old rules.

For a loan that lasted a year and four months, the interest paid was $62,400.

Still, Zhang Zhongting pulled his leather jacket to one side and said a few things like "I'm on assignment at the City Public Security Bureau," "lending qualifications," and "debt collection methods," and helped the family "fight" for a better deal.