On the face of it, this looks like a pro-consumer move. On the other hand, it's actually a disaster for lots and lots of consumers who are living on all that borrowed money, whose cash flow is based on smaller minimum payments. |
Over time, you have a far better public policy. The family is able to get off the welfare rolls. Fathers are paying child support they're obligated to pay. |
These families are living on $8,000 to $11,000 a year. And we are not helping take that one more wrong or two more wrongs out of that cycle of poverty. |