Legal tip of the week - Loan interest caps

From Montana Legal Services Association

Did you know that Montana caps interest rates on loans at 36 percent? High interest loans are usually called “payday loans.” If you have a payday loan with higher than a 36 percent rate, it may be illegal and you should talk to an attorney. You might have more options than a payday loan. Talk to a credit union or a consumer counseling group like Rural Dynamics, Inc.

For more information, please visit the Money Problems section of http://www.MontanaLawHelp.org. If you can’t find the information you want, click on the LiveHelp button. Or call the Montana Legal Services Association HelpLine at 1-800-666-6899.