Quote:
Originally posted by Cynthetiq
I did a secured loan via the bank.
I saved $2000, and then borrowed $2000 from the bank. I took the money from the bank, and put that into an account that had a monthly debit to pay the loan off.
I paid it off in 6 months and paid a small premium to do so because of the interest, but it wasn't all that much.
I didn't pay attention to it except read each month that it was debited from my account, I did not manage it any more than that.
|
What a messed up world this is that banks can convince you to take out a loan, give it right back to them in another account, then pay back the original loan with interest and thank them for the pleasure.