Thanks for that. "Fine print" are loaded words implying negativity, but the font size of most contracts is fairly constant, and there would be provisions in many loan contracts to vary the rate, and late payment, or the simple flow of time may be specifically provided for. Indeed, actually putting such a provision in much smaller font than that generally used would open up an opportunity for the debtors lawyer to aver that the company was trying to mislead, and succeeded.
My interest is not on the legalities (I made a living drafting and amending commercial contracts), but on what CCP does to get debtors to agree to a repayment plan, and by interpolation, have a fair idea what CLH and PNC do. That is, what carrot and stick motivators do they apply to effect a repayment agreement? This is something I have always wanted to know.
CLH Price at posting:
$1.09 Sentiment: None Disclosure: Not Held
