FINANCIAL FORUM
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
12 November 2019 - 05:07
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:..
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