Payments keep balance going UP!
Date: Tue, 08/18/2009 - 10:23
Payments keep balance going UP!
For the other 4 months, the balance has been going down - tho one month by little and another by a lot.
Is there any formula that I can use to figure out how these payments are being applied or why/how they are not being applied?
Thanks!
How are you checking your balance? CA's do not do the interest
How are you checking your balance? CA's do not do the interest calculations...interest adjustments are sent electronically so it all depends on when the interest adjustments are received. Some guarantors send the monthly, others periodically.
How much do you owe and what is your interest rate?
debt
I don't get it, either. If your % rate changed, you should have been notified of this. If you were not, you need to send some kind of letter, I think. That's a good amount of 'payment changes' with out letting you know. I don't think, legally, anyway, they can do that.
It has nothing to do with interest rate changes....it is interes
It has nothing to do with interest rate changes....it is interest postings to the CA from the guarantor. Plus with student loans, rates do change annually for some loans and they do not have to notify you.