Quote:
Originally Posted by Tcoat
Read the fine print in those "differed" payments. In most cases you are just compounding interest. Sure you don't pay now but when you do pay you end up paying more. The financial institutions ain't taking a hit for nobody. The little guy is still going to take it in the ass. The middle guy is going to end up paying for all the bailouts (the money isn't coming from a magic cash fountain) so they will get reemed as well. The top of the pile will walk away saying "I have no idea what the complaints are about since I am doing fine".
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Well, my federal student loans were deferred in the past without accruing interest. The rents I believe are deferred without interest. I don't have any credit card debt, but my Best Buy card recently sent a letter that they are changing the deals, incentives and increasing the APR. Some of that could be to safeguard against lending at risky margins, but I'm sure there will be plenty of shadiness in the fine print, as you have highlighted.