Late Charges
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However, the court does look to the substance of an agreement, rather than its outward form, in determining whether an agreement is usurious. Silver v. George, 64 Haw. 503, 508 (Haw. 1982)
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If in any action on the contract proof is made that a greater rate of interest than that permitted by law has been directly or indirectly contracted for, the creditor shall only recover the principal and the debtor shall recover costs. (HRS § 478-5)
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Steven Guttman, Esq.
Kessner Umebayashi Bain & Matsunaga
The statutory information was edited and reviewed with the support of MultiState
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