The loan interest rates in the Federation are at 5.7%, and they fluctuate greatly. After all, every industry is developing now and everyone needs money.
Therefore, the loan interest rate will fluctuate at any ti, and sotis there can be a difference of more than 1%, which is quite unstable.
Currently, it’s at 5.7%, but it may increase or decrease later, which is quite normal.
In contrast, the deposit rate is less than 3%, around 2.8%. Putting money in the bank now isn’t very worthwhile; it can’t even beat inflation.
This might also be why people in the Federation don’t like to save; they prefer to spend the money rather than put it in the bank to deal with sudden issues.
"What’s your monthly earning ability?", the Legal Officer took out a piece of paper and started calculating.
The shop owner thought for a while and stuttered, "About 900 to slightly more than 1000, not much."
The Legal Officer whistled, "This inco is not considered low in Bupen."
The "Minimum Wage Act" does not have a "guiding" significance; in other words, it’s just a minimum limit, an explanation.
The local minimum wage in Bupen is close to 300, but most people can get more than 300, around 350 or 380.
Workers in other industries earn a bit more, reaching over 400 bucks only, except for financial practitioners, lawyers, and dentists, who earn higher salaries, but that’s person-dependent.
So don’t earn more than ordinary workers, but so have long broken through the ceiling of the word "salary."
Around 1000 bucks, it’s really not considered little.
Moreover, he lied.
Actually, his shop can provide him a profit of 1350 bucks a month; he doesn’t want to reveal so much, just wants to keep a little trump card for himself.
Soon, the Legal Officer calculated so numbers and then explained to the couple, "I recomnd choosing a five-year repaynt plan; it might be even cheaper than bank loans!"
The shop owner asked nervously, "If five years, how much do I have to repay monthly?"
He already completely forgot about other things and started seriously considering repaying the money.
"About 1800 bucks or so," the Legal Officer put down the pen and wrote down so calculation formulas.
The couple exchanged a glance, and the shop owner shook his head, "Too much."
The Legal Officer kindly reminded, "If you go further, the fees will increase annually in a tiered manner, making it less economical, but there are advantages as well."
"The bank can only offer you five years, but we can give you longer."
"What’s your bottom psychological price? How much can you give monthly?"
The shop owner thought seriously, "About... four or five hundred bucks?"
The Legal Officer quickly calculated a similar result, "If you can accept a twenty-year repaynt term, you only need to pay us 650 bucks monthly."
bucks, although a lot, if you grit your teeth, you could manage, and it’s twenty years.
The shop owner’s wife asked keenly, "Then how much do we have to repay altogether?"
The Legal Officer looked at the docunt in hand, "About seventeen thousand, not quite."
The number made the couple fall silent instantly; they have to repay nine thousand more, and every month remains a bit tight.
After a while, the shop owner said in a low voice, "Too much; we only borrowed a little over eight thousand, this is definitely more than what the bank would ask!"
"But the bank won’t allow you a twenty-year loan, sir. Five years later, if you can’t repay, they’ll take your house and kick you out."
"Whereas we can offer a super long repaynt period of twenty years, eight thousand, twenty years, spread over daily, it’s only a dozen bucks."
"This deal isn’t a loss."
"If you don’t choose, the court will enforce, they’ll auction your house by bank entrustnt, your outcos are the sa."
Another long silence followed, but this indeed surpassed the couple’s understanding, borrowing eight thousand, needing to repay seventeen thousand, that’s too much.
"Do you have children?", the Legal Officer suddenly asked, bringing the two back to reality.
"Yes, we have children."
"Are they in middle school?"
The shop owner was very honest now because he owes a large sum of money, facing the creditor’s representative, "No, they are still in elentary school."
The Legal Officer smiled and asked, "Planning to go to college?"
The couple both nodded, and the wife said, "Yes, if his studies support him to do so, we will send him to college."
"It seems he needs a good environnt, living environnt, family environnt, study environnt..."
This seemingly unrelated sentence had a kind of terrible power, the man’s face looked grim, pursing his lips, he exchanged glances with his wife for a mont and then heavily spoke those lines.
"I accept your terms."
Yes, just like this special envoy said, the bank won’t allow you to borrow for that long, and if they don’t borrow from here, they’ll ultimately lose their house.
Then they can only move to a chaotic place, because houses in those dirty and poorly maintained communities are cheap.
They are ho to gamblers, prostitutes, gang mbers, thieves, and thugs, and then their children will have to attend cheap public schools, which are also filled with these people and cri.
For the sake of their children, they have to make a choice.
"I’m glad you made the right choice. You don’t have to be too pessimistic. I have so plans here that can save you so expenses..."
Then he took out so docunts again, detailing the display case issue, but from then on, Every Mont would no longer cover any display case fees.
At the sa ti, they required the store owner and his wife to wear the uniforms provided by Every Mont in the store, which had Every Mont’s advertisents on them.
They also have to recomnd Every Mont’s cigarettes to every custor who cos to buy cigarettes—
"If they’re buying our cigarettes, there’s no need to recomnd them," the legal officer smiled, "Including the renovation of the storefront, starting from the sixth year, you can reduce your monthly paynt by a hundred dollars."
This wasn’t a difficult calculation, in the end, they could save more than ten thousand dollars.
If these words were said before they made a decision, they wouldn’t be as moved as they are now. Without further persuasion, they reached an agreent and arranged to sign the formal contract the next day.
As collateral, it was still the house, but the conditions were relaxed. If they couldn’t repay the money in three months, Every Mont would then respond.
Look, this is the rcy and generosity of Mr. Lynch!
So damn kind!
But such a kind suggestion from a kind person is not liked by everyone.
"So people refused the agreent we offered, Mr. Lynch..."
The next morning, sitting in the office, the head of the legal departnt continued to discuss the matter, "They’d rather sell the house than accept our agreent."
Lynch smiled indifferently, "That’s their right. We can’t interfere with others’ choices. The charter grants them the right to choose freely, we need to respect them."
"I rember there’s an execution period after the judgnt is made, right?"
The head of the legal departnt nodded, "Yes, they have two weeks as a buffer. If they can’t fulfill the judgnt results within two weeks, they must file a request for delayed execution to the court."
"Does the request get supported every ti?"
The head of the legal departnt shook his head, "If we insist on execution, the court will most likely support our demand, because we are the plaintiffs, the victims."
Lynch was quite satisfied with the legal professionalism of the head of the legal departnt. He pointed at the head with a pen, "Assign soone to keep an eye on it, don’t give them a chance to apply for a delay."
The head of the legal departnt turned his eyes and understood Lynch’s idea. If they couldn’t pay back the money within the deadline, and Every Mont refused to postpone, they would have to follow procedures.
They would entrust a bank to auction these people’s real estate to raise money. When a third-party bank auctions it, any price it fetches wouldn’t be surprising.
For sothing worth a hundred thousand, getting fifty thousand in an auction would already be very conscientious.
"I know what to do."
In the evening, while having dinner with Catherine, Catherine also talked about the issue.
"Many people say you’re sucking blood..." She was about to return to Curilan City to submit her internship report, and then the school would have to write evaluations for her.
These things seem unimportant, but they are actually very important. You never know when soone will pull out these docunts, pointing at those remarks, making people embarrassed or happy.
This dinner was just before she returned the next morning.
Manipulating the knife and fork, Lynch replied, "I’ve always believed that if you make a mistake, you have to take responsibility. Escaping isn’t a solution."
"Even if you can’t afford it, you have to grit your teeth and do it!"
In his previous life, even when he was locked in a small room, he didn’t appeal. He knew at the mont soone pressed down on his shoulder, the ending was already decided; the rest was just a formality, a process.
He took responsibility for the mistakes he made, so he hoped others would too. If soone hurt him and wasn’t willing to do so, he would make those people understand that the cost of escaping was often more severe than taking responsibility.
The girl’s smile carried a bit of lancholy; although she spent little ti with Lynch, there was an inexplicable sense of closeness, because she knew Lynch was also in this city.
Now that she was leaving, a faint lancholy and sadness hovered around her.
Lynch was sotis very romantic, sotis very good at breaking the mood.
"What do you think about education reform?"
"Huh?" Catherine didn’t react for a mont. Education reform, reform what?
Lynch picked up the napkin beside him to dab the oil off his lips, took a small sip from his wine glass, "Education, reform, you know, the current education system is a failure. That’s also why we didn’t go to college!"
"It should almost evolve to the next stage..."
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