tag:blogger.com,1999:blog-12371420.post7692152568006643093..comments2024-01-02T03:39:02.595-05:00Comments on Econo-Girl: Jerry Troop's Bailout Plan - Best One YetEcono-Girlhttp://www.blogger.com/profile/06710293494850428244noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-12371420.post-2068429052218025102008-11-26T12:16:00.000-05:002008-11-26T12:16:00.000-05:00Uhhhh...10% interest?Better than a credit card - b...Uhhhh...10% interest?<BR/><BR/>Better than a credit card - but still a shitty rate!!!! <BR/><BR/>Unless I was over my head in credit card debt, I would not take this loan. Of course, I would be in group 1. I am not wealthy, but I do not go out and get myself into excessive debt either. <BR/><BR/>The repayment plan also seems out of hand. $1k per month? 2 years interest already added to the repayment plan - unless paid off early? At 10%? <BR/><BR/>Really - for a government loan 10% is anal rape. Without lube. This is higher than bank rates!!! What gives??<BR/><BR/>On the other hand, I could take the $10k loan and buy that jet ski! Pay it back in a year and there you go! Free money. I can buy a ski outright for cash, make the payments as if I had financed the thing, and after a year whatever is left on the balance would have the 10% rate added but by then most (if not all) would be paid off anyway. <BR/><BR/>I would be money ahead here. Ill think about this one......The Lazy Iguanahttps://www.blogger.com/profile/12826083852416577162noreply@blogger.com