Security Money Interest (interesting info learned from attorney today)

[lwh1961]

I finally hired an attorney today (yea!) and we were discussing the department store cards that I have and the security money interest on the items that were purchased.

She told me that in North Carolina if the interest rate is more than 15% the security money interest is void.

I had not seen this mention anywhere before, and I thought it was interesting info.

[HHM]

Never heard of that...it must be specific to North Carolina

Not that it really matters, the store cards never do anything with the security interest anyway.