By aceuser

Concern: just how many times can a debtor roll over that loan?

Concern: just how many times can a debtor roll over that loan?

Matter: What is a rollover?

Rolling over or refinancing that loan ensures that the debtor will pay a charge to wait trying to repay the mortgage. The cost doesn’t decrease the principal owed. As an example, if a debtor rolls over a $300 loan in Texas (where charges regarding the loan are $22 for virtually any $100 borrowed) 3 x, the debtor could have compensated four $66 charges and can nevertheless owe $300 towards the loan provider.   Read more