Rhode Island Credit Laws

The general usury limit is 21% or the interest rate charged for T-Bills plus 9%.

Open Acct:10 - Written Contract 10 - Domestic Judgment 20 - Foreign Judgment 20

Amount of check, $25 fee & treble damage up to $1000

$200,000 in land and buildings for an owner or owners of a home.

A debt collector may not use unfair or unconscionable means to collect or attempt to collect any debt. Such unfair or unconscionable means shall include, but not be limited to: (1) Collecting any amount (including any interest, fee, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law. A debt collector may not use unfair or unconscionable means to collect or attempt to collect any debt. Such unfair or unconscionable means shall include, but not be limited to: (2) Representing that an existing obligation of a consumer may be increased by the addition of attorney's fees, investigation fees, service fees, or any other fees or charges, if in fact such fees or charges may not legally be added to the existing obligation.