Powered by Yahoo! Answers
If the Fed bought good credit card debt ?*
If the fed bought a percentage of credit card debt from the stressed middle class that had good credit ratings would that free up more consumer money.
Say for example buying 4000 dollars of an 8000 debt that the family paid 20% interest, then charged the family 6% on that money. The credit card company could handle the details.
yes, this is a question, your thoughts on the impact. This is to contrast the federal government buying alot of bad debt that taxpayers have to cover.
Answers:
1) Could they just buy my mortgage and give me a fixed 30 yr 4% loan, oh and throw in some cash - I need some new furniture
2) Is this a question?
3) Not necessarily because there are a number of people enjoying low interest rates now and are still in the same predicament. Besides the feds buying high interest accounts in turn for lower interest would benefit who exactly? That wouldn't free up more money at all....people would just spend more!
4) i believe it would help tremendously, freeing up spending money would boost the economy by increasing sales and manufacturing. plus it would make the government some money.
5) Try this. It`s must help.
It may be that these answers have been provided by people who are not as knowledgable or familiar with this topic as you are. Because of this, CreditOptions gives you the ability to provide a better answer to this question and once your answer has been approved, it will replace the answers provided by Yahoo.
Click here to provide your answer to this question.
*The answers on this page are supplied by users of the Yahoo! Answers forum or by visitors to this site. CreditOptions does not necessarily endorse or agree with the answers provided.
Home Articles Tools Credit Quiz Credit Analyzer Contact Us
Credit Cards Credit Counseling Credit Repair Credit Reports Debt Consolidation Identity Theft Mortgage Loans Payday Loans
Credit repair companies are a ...