- Oct 26, 2018
I don't know how that even works now with companies.One thing I am glad he's doing is extending the CDC eviction protections order and student loan order but there is a massive problem there people aren't realizing.
The pausing of debt accumulates interest and you pay interest on accumulated interest, unless they paused that too.
When covid hit the fan, every bank and credit card and utility company was saying they were accepting delays or cutting 24% credit card fees to 10%. CC fees being cut are easy to understand, but for delayed payments does anyone know what the general trend was?
1. Monthly payment forgiven
2. Monthly payment delayed with no extra interest tacked on
3. Monthly payment delayed but interest still accrues and you just didn't know it. So at some point a person required to pay back the loan will get hit with one giant payment due