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Law Educator, Esq.
Law Educator, Esq., Attorney
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Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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Do New York State usury laws apply to medical bills? My son

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Do New York State usury laws apply to medical bills? My son was charged $10 per month Finance charge on a $205 bill, now a collections company is looking for over $300. When I asked the doctors office, they said they had added a collections fee to the bill before referring. In their last bill, they made no mention of impending collections, or adding the collections fee. Is this legal? I can pay the bill, but should I?
Thank you for your question. I look forward to working with you to provide you the information you are seeking.

The NY usury laws apply to individual personal loans and a collection fee is not considered interest. The NY usury interest rate maximum is 16% if this were a loan, but if it is not a loan it is a debt for services and is an exemption to the usury laws. Legally, they can charge this and the collection fees in NY as it falls outside of the "personal loan."

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