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| That was the deal with PCA. When they called your crop loan in May and you couldn't pay you were in default. Then they could charge higher interest. I think I paid interest in the high 20"s Like 27 or 29%. OF course this probably included the extra interest on the 10% stock you had to buy to borrow money. Oddly enough when I paid them off I had to pay off the stock also. After that I had to threaten legal action to get the liens lifted.
Come to l think of it I am not sure I ever did get a check for my stock. | |
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Those who farmed through the '80's ?
