Q&A: How much can my body corporate charge me in interest?
An unreasonable and unjust interest rate is prohibited by the Consumer Protection Act
Q: I inadvertently short-paid my levy and my body corporate is charging me interest at a rate of 30% a year on the amount in arrears. What is the maximum interest that can be charged on such an account? — Name withheld
A: Trudie Broekmann, an attorney who specialises in consumer law at Broekmann Attorneys, replies:..