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Because it greatly lowers the risk that AT&T will need to write off the debt for your phone and sell it to a collections agency for pennies on the dollar. It’s
by labcomputer 2y ago
Because it greatly lowers the risk that AT&T will need to write off the debt for your phone and sell it to a collections agency for pennies on the dollar.
It’s the same difference as a home mortgage vs unsecured credit card debt: When the threat exists that the lender can repossess your home if you don’t pay… they don’t have to worry as much about you not paying your mortgage, so they can offer a much lower rate.
- itopaloglu83 2y agoMaybe then they should put a lien on it and call it the phone title, not lock status.
- ac29 2y agoThe cost to repossesses and resell a phone is going to greatly exceed its value in nearly every case, so this idea wouldnt work.
- itopaloglu83 2y agoOne of the main goal of a lien is to make sure that the debtor pays. I would say the locking mechanism helps that greatly.