prepaid interest
Interest paid before it is earned. [Cases: Usury 44. C.J.S. Interest and Usury; Consumer Credit §§ 135, 142, 147–150.]
Interest paid before it is earned. [Cases: Usury 44. C.J.S. Interest and Usury; Consumer Credit §§ 135, 142, 147–150.]
An expense (such as rent, interest, or insurance) that is paid before the due date or before a service is rendered.