My question involves an auto loan or repossession in the State of: Alabama.
My girlfriend was stupid and got a title loan on her car for $2000. She lives in Alabama. The annual interest rate is 133%. I've read where a judge ordered a cap of 24% per year interest. Is this true and is there any remedy here for her? She has been paying $214 + other fees monthly for a year now and the principal payoff is $2300. Absurd to me but is it legal?