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Given that interest-bearing loans eventually convert to ISAs if they aren't paid (through wage garnishment), it seems hard to argue that they aren't strictly wo
by danenania 7y ago
Given that interest-bearing loans eventually convert to ISAs if they aren't paid (through wage garnishment), it seems hard to argue that they aren't strictly worse for the borrower.
- tathougies 7y agoISAs are not wage garnishment though. My ISA would be tied solely to the amount you're making and a non-interest-bearing predetermined price. Wage garnishment is a form of interest sharing, sure, but the underlying liability is growing at an exponential rate, which is what would be wrong.