Overpayment claims arise from "grey-zone" interest (18-29.2%) charged before the 2010 Money Lending Act reform. Statute of limitations: 10 years from last transaction (old Civil Code Art. 167) or 5/10 years under new Art. 166. Process: request transaction history (Money Lending Act Art. 19-2), recalculate at legal rates, negotiate (typically 70-90% recovery), or litigate for full amount plus 5% interest (Civil Code Art. 703-704).
Overpayment Claims in Japan: Who Qualifies and How to Recover
Key Takeaways
- ✓Loans before 2010 with high interest rates may have generated overpayments
- ✓The statute of limitations is 10 years from the last transaction
- ✓Recalculation at legal rates reveals the exact overpayment amount
- ✓Overpayment claims can be filed even after the loan is fully repaid
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