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    3. is it legal to charge interest on interest?
    is it legal to charge interest on interest?

    I need to know if it is legal to charge interest on interest. The initial debt has been paid and all that remains is the interest that I am paying interest on.

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    0  Views: 557 Answers: 1 Posted: 14 years ago
    Tags: personal federal income tax
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      1 Answer

      If you have not paid back the principal according to the loan agreement this "interest" gets added to the principal - so the answer is yes, sometimes.
      14 years ago. Rating: 0
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