Tuesday, February 3, 2009

'Tories hire Vorderman to help people work out if First Plus loan was a good idea'

Given the culture of easy loans which appeared to have led us into our current economic mess, you would have thought that the Tory party would want to distance itself from someone associated with easy loans.

From the Daily Mash:

CAROL Vorderman is to head a Conservative Party taskforce to help people work out if debt consolidation loans are really such a good idea after all.

The Tories said the former Countdown star was ideally suited to the post as one of the country's leading experts in lots of big, confusing interest rates.

Vorderman said: "Let's say you have £20,000 in outstanding credit which, if you just stopped buying shit you don't need, you could pay off in around six years with interest payments of about £7,000.

"But if you rolled it all up into your mortgage and paid it off over 20 years you could continue to buy the shit you don't need and pay interest of just £14,000.

"£14,000 divided by £7,000 equals £2 which you then multiply by 10,000 to get the number you started with. Maths is so much easier than you think."

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