Interest
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Posted by Mia
(209.79.199.55) on August 14, 2004 at 03:49:19:
Hello all, Read teh earlier post about interest and how the CA set up payment plans so you only pay interest and no principal. Guess that way they have monthly "rent" forever from their victims. That seems very illegal. And they talk about having morals, where are theirs? So if I was asked to pay 110 I could pretty much guarentee that about 95 or so would go to interest? So a wage garnishment can potentially go on even when the orginal amount is paid because they add excessive interest and you never really catch up. Wow that is a guarenteed monthly income for them. So do they get the 30-50% commission on the interest too? I bet they do. Wow. That is what I always suspected. That is exactly why I just refuse to settle than. I can't justify that even to get them off my back. I won't participate in that kind of fruad! Pisses me off. So more of victimizing the poorest among our society.
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