Comment by droffel

I saw a proposal recently that suggested the government mandate that existing loans (mortgages and business loans primarily) add the deferred period to the back of the loan, interest free. So if the lockdown is 3 months long, then your 72 month loan becomes a 75 month loan with an internal interest free 3-month period. This feels like a reasonable compromise to just nullifying the debts altogether, considering what an accounting nightmare that would be.