Law Firm
Legal or illegal?

In July I had to lend R20, 000 from a law firm as the attorney gives micro loans to people in need of instant cash. The repayment is at 30% interest per month which means that if I could repay within 1 month, the amount would be R26, 000 However this could not be done and now after 2 months, the payback amount is R32, 000 When asked if this is legal according to the NCA, the answer was that he does not work for the NCA but for himself and that he did not hold a gun to my head forcing me to accept the loan at that interest rate.
My question is: is this permissible according to the NCA, is it legal to charge such an exploitable excessive interest rate and who can help me in this matter? I am willing to pay back the loaned amount with a reasonable interest rate but 30% per month is absurd!!!

Company: Law Firm
Country: South Africa
City: Vereeniging

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