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Tag: Interest Rate

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Michigan Courts May Not Reform Illegal Interest Rate In Loan Contract Where Agreed to By Parties

Under Michigan usury law, the interest rate on a loan may not exceed 7%. If a lender attempts...

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New Michigan Judgment Interest Rate in Effect as of January 1st, 2018

Effective January 1, 2018, Michigan’s money judgment interest rate will be 2.984 percent. (A higher rate may apply...

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