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Hello. My name is***** am a US licensed attorney and I will be happy to answer your question.I am sorry to hear about this unfortunate situation.Please note, I cannot comment on your specific situation, as this services is only limited to general information and for any legal advice / legal service you should contact your local attorney.
Unfortunately, usury laws only apply to private lenders and business specifically licensed to lend money, as part of their business, such as banks, finance companies, pawn shops, etc...are specifically excluded from the usury laws, so unfortunate if the borrower signs a contract containing very high interest rate, the borrower would be legally obligated to repay any amount owed according to the contract and that is why it is always important to very carefully read and understand all the terms of the contract before signing it.
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