Interest
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Question
A few years ago, I accumulated a debt for municipal taxes, which increased beyond the original amount. Is there an issue of interest here? If so, is there anything I can do about what happened then, today? Of course, I have already arranged a standing order to avoid this happening again.
Answer
Hello,
There is an issue of interest in this situation.
However, you should hurry to pay it off to prevent the debt from increasing further, which would exacerbate the prohibition.
You can avoid the prohibition only if someone is willing to pay it on your behalf. In that case, it is interest that does not go from borrower to lender.
But this must be done without a prior condition that you will repay him for what he pays, as that would make him your agent, and it would not help. [After he pays, you can reimburse him for what he paid].