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I Have A 10K Loan The Interest Is Calculated On A Per Diem Basis. I Pay $500/mo. It's Not Going Down. How Can This Be?
I have paid three monthly payments ie: $1500.00 but my loan is MORE now. How can this be?
asked 4 months ago
Answers
I believe I would ask for a complete amortization schedule of said loan from the lender. Hopefully you will gain an understanding or find a mistake. If you do not understand the importance of an amortization schedule, simply give me a shout.♥
And please rate my answer accordingly...thank you in advance.♥
answered 4 months ago
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Per Diem means per day so the loan you have is probably interest only and you need to pay more each month on the principle to make the loan get smaller where did you get the loan.
answered 4 months ago
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