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Group: Forum Members
Last Login: 5/28/2015 3:09:34 AM
Posts: 3,
Visits: 47
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What is the maximum amount of interest that can be assessed on a past due balance per month and per year in Oregon? We've always stated 1.5% interest (18% per annum) in our credit applications/contracts/terms and conditions, but I'm finding articles online saying it can only be 9% per annum in the State of Oregon.
Thanks!
Sierra
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Group: Forum Members
Last Login: 8/1/2023 8:01:49 AM
Posts: 71,
Visits: 85
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You can charge 18% if agreed to by a commercial customer in writing. I would be careful charging that rate to a consumer. The statutory rate of interest in Oregon is 9%. That is the default rate for a judgment debt.
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