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The Post Office has a rate of 5.9percentnt and offers an optional two-month repayment holiday.
The McDonalds are not so lucky: the £500-a-month repayment means they can no longer afford to pay for their disabled son's therapeutic treatments.
A Maurice Blackburn lawyer, Miranda Nagy, said Gray had paid $60 a fortnight on a $600 loan instead of $10 a fortnight because she was locked into a seven-month repayment period.
Investors have been getting increasingly nervous that Greece will default on the 9 April repayment, amid rumours that the Syriza-led government is running out of cash.
Assuming a 3-month repayment period, a 20percentt fee is essentially an insane 80% APR.
If the current agreement is again extended after June 30, though, the parties will have to contend with an even more onerous July repayment schedule.
The beauty of it is, if the car breaks down, or the roof falls in, I can withhold that month's "repayment" and make the repair.
I am determined to get my finances straight and can afford about £150-£200 per month in repayments.
The couple managed to obtain a 100% interest-only mortgage on the property, which set them back £450 a month in repayments.
But after Congress passed its economic stimulus bill in mid-February, the repayment policy was loosened as strict new compensation rules were put in place.
Joyce said on 1 August the repayment rate for loans would be set as low as 2.66%, down from the current 2.71%.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com