@pizza1 wrote:
@SweetCreditObsession wrote:Let's hope it's a happy ending. With an indefinite end date, it could take some of us by surprise when the payments resume.
I dont know how it could be a surprise to anyone! No payments for 2 years already, and we get plenty of notice when the payments are going to restart. Folks have had more than enough time to save back a little money to start their loan payments again.
Except for the increasing costs of basic staples like groceries and rent which could eat into whatever they were saving with this. If they had to buy a car or got into a mortgage in the past 6-9 months they're definitely not better off with rates. At least for me my income has gone up by more than the expenses (not as a %, but as an absolute) and now my car is paid off too.
as of 1/1/23
@pizza1 - this is true in some cases, however for many, they were struggling before the pandemic and their situation did NOT improve, but worsened. Add to that the dramatic increase in the cost of food, housing and transportation, the resumption of the payments on an indefinite date is going to hurt some families. It's not about a lack of planning but as the old song goes....nothing from nothing leaves nothing...
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