@IOBA wrote:Yep - only $69 of pure profit, I mean interest, per month, for 12 months. No principle payment, no fees. Just interest. And absolutely nothing to show for it!
* hope you feel better!
* we are never wrong - we just have learning experiences!
Now I understand. When I read Interest ONLY payment (the word payment being singular) - $69.00 I took that as meaning one payment only.
That's what I get for over thinking. 
But it was still a bad deal for your son.
From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work