Hardship and forbearance programmes, assessed
Every major lender has one. Assessed on what they actually offer, what they cost in interest and credit-file terms, and why they are so hard to find before you need them.
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Consolidation marketing outpaces consolidation arithmetic
One payment instead of five is a real benefit. It is an administrative benefit, and it is routinely sold as a financial one.
Debt consolidation, assessed with the arithmetic shown
The product's benefit is real and its cost is arithmetic. Here is a worked illustration, with every assumption stated, showing exactly where a lower monthly payment gets expensive.
Early-settlement rules are the least-read clause in consumer credit
Paying a loan off ahead of schedule is a right in many markets, and it rarely works the way borrowers expect. The clause governing it is in every agreement and read by almost nobody.
