Usurious loans are invalid and unenforceable as a matter of law and public policy. Where, as in this case, two judgment debtors by default make a substantial showing that their loan was usurious and that their creditor obtained the default judgment by misrepresenting the nature of the underlying loan, the debtors need not show an excuse for the default to obtain an order vacating the judgment. Both under the CPLR and pursuant to the...
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