Need Help to Calculate Service Fee Percentage

Post New Thread
Sub: #1 Need Help to Calculate Service Fee Percentage
Replied on 05-13-2008, 09:03 AM
Reply With Quote

Hey all, I have 4 pdl's out there and I live in MD and know the monthly cap is 2.75% and yearly cap of 33%.

But... I don't have the "contracts" that the internet PDL's send you and I wanted to calculate the actual APR/Interest Rate that I paid on each loan I took out.

For example:
I loaned for $600 and the interest equaled $152 for a total of $752 due. What was the interest rate to = $152?

Was that clear? I know my brain is a little fuddled right now with calling the AG and typing to BBB and FTC.

The loans are:
CTC: $600 interest $152 - Interest % equals?

Epayday: $400 interest $120 - Interest % equals?

VC Funding: $300 interest $90 - Interest % equals?

VIP Cash: $250 interest $315 (paid $130) - Interest % equals?

THESE TWO APPEARED AFTER SEVERAL YEARS OF NOT HEARING FROM THEM OR DEALING WITH THEM

Ameriloan: Alleged owed amount $410 (possibly $300 with $110 interest - Interest % equals?)

United Cash Loans: Alleged owed amount $505 (possibly $400 loan with $105 interest - Interest % equals?)


I see how to do it by knowing the percentage, but I don't get how to do it by knowing the service fee and how to get the percentage rate?

My brain is mush.




«Previous Thread | Next Thread»
Thread Tools
Display Modes
Linear Mode Linear Mode

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -8. The time now is 04:25 AM.






About Us | Contact Us | Privacy Policy | Affiliate | Sitemap | Espanol | RSS Feeds| Terms of Services
* Disclosures:
  • By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  • Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
  • Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  • Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  • The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 0.086 seconds.