3 ms·
With today's cost of borrowing, the median salary can't afford the interest on that amount.
by jpambrun 4y ago
With today's cost of borrowing, the median salary can't afford the interest on that amount.
- b112 4y agoBorrowing? This is a fine, but it brings up a point. Where I am, fines to governmental entities via courts, can often be negotiated as monthly payments, interest free, even if it takes a very, very long time to pay. EG traffic fines, as an example, being a few hundred, can be paid over years. No interest. This does change if you do not pay, but otherwise, you can negotiate. So if the same is true in the US, and it may be, after all, bankruptcy laws does not apply here (and so other concepts, too)... then inflation helps.