What kind of loan did your friend get and what kind of payments on old and new? I know some here will call it fraud and breach of contract, etc, etc, but as long as they didnt committ fraud where is the issue? If you cant, dont pay your loan, contract specifies the remedies. Its amazing that people here cry for the banks under the personal responsibility guise. If the lawyers for the bank are too STUPID to write in proper clauses, why should we cry for the banks. They know how to write 30% APR for credit cards.
