Wednesday, June 29, 2005

Good Lord, man

My "no interest for 250 years or whatever" loan from Levitz (for my furniture) is up to $950 in accrued interest. I can only imagine that that will be about $2000 when it's actually due a year from now. That would be an expensive payment to forget about.


Luke said...

That is, that's the interest you'd have to pay if you weren't so fortunate as to have a no-interest loan? Or, you're already in a state of the loan where you are gathering interest?

Travis said...

The loan accrues interest right from the start at the insane rate of 20%+. The "no interest" part only happens if you pay it off before the due date (a year from now for me). If you don't pay it off in full by that date, you have to start paying interest including everything you've accrued since then. I'm safe for another 11 months.